German Bank Blocked account for foreign students

Germany is an attractive place to study. Employers respect German Universities because of their quality. German Universities have top-quality, and diverse research, practice and teaching. In addition, it encourages personal and intellectual potential. The country is safe and also economically stable. Germany is the 4th most popular destination for international students worldwide. Altogether, there are more than 400 educational institutions that welcome from all over the world. However, international students must create a blocked account in a German bank before studying in the country.

International students must acquire a student visa so as to study in Germany. International students must provide a blocked bank account in order to obtain a German Student Visa. This account proves that the student can finance his/her studies in Germany. The money deposited into it cannot be withdrawn until the student has arrived in Germany. Thus it is referred to as “Blocked”.

Students from the European Union, Australia, Canada, Iceland, Israel, Japan, Liechtenstein, New Zealand, Norway, South Korea, Switzerland and the United States of America do not need a German student visa to study in Germany. However, these citizens must obtain a residence permit while in Germany.

Opening a blocked account is the most common way for a student to prove that he/she is capable of financing the stay in Germany. It is a requirement for students at German embassies. In this article, we dive into the details of German bank blocked account. This article covers these details:

  • What is a blocked account?
  • How to create or open one.
  • Common questions about the blocked account.

What is a Blocked Account?

A Blocked Account is a special type of bank account for foreign students in German schools. It carries the required amount of money to cover the student’s yearly expenses. This account serves as proof of finance for the student when applying for a German student visa.

The student opens the account immediately after admission into a German school has been confirmed. The student opens this account from his/her home country. This is proof of the student’s financial ability for the stay in Germany.

At the time of writing, the sum of €10,236 is the required amount to create this type of account. The student withdraws not more than €853 per month. The student withdraws the first €853 when the first semester begins.

Also, this account is a requirement for a residence permit and a job seeker visa. Students from Australia, Canada, Honduras, Israel, Japan, New Zealand, South Korea and the USA do not need a visa to study in Germany. But, they must open a blocked account as a requirement to obtain a residence permit. In addition, applicants for a job seeker visa must open the account. The job seeker visa allows the holder to stay in Germany for 180 days and look for a job.

How to open a German bank blocked account

There are two major ways of creating this account. We will go through the steps for creating the account using any one of these routes.

  1. German embassy or consulate in your home country.
  2. Fintiba

The process to open a Deutsche Bank Blocked Account for students

This process is easy and straightforward. However, it is lengthy and cannot be done online. This process takes about 14 to 21 days. This is the estimated time if you are creating the account via the German consulate in your country. It is most noteworthy, that the student should apply for this account as soon as they receive an admission confirmation letter. Below is a step by step guide to creating the account.

  • Download the application form. Fill the application with details that match with your other required documents. The date, place and signature should be left blank. They will be filled at the German embassy during the certification of documents.
  • Print out 2 clean copies of the filled form. Submit one at the German consulate or embassy, then keep the second one as a backup copy.
  • Gather the required documents which are listed below.
  • Book an appointment for an interview at the German embassy. The consular officer ensures that your documents are authentic, and then certifies your signature.
  • Sign your application in the presence of the consular officer, and ensure he certifies it.

Here is the list of documents you have to submit at the German embassy:

  1. Filled application form for a Deutsche Bank account. You can find the form here.
  2. Admission confirmation letter from a German school.
  3. A bank statement or any other document which proves the source of the funds.
  4. A valid passport, alongside two copies (black and white).
  5. A prepaid envelope from providers like DHL and FedEx to forward the application to Germany. Address the envelope to the Deutsche Bank; “Deutsche Bank”, Privat- und Geschäftskunden AG, Alter Wall 53, 20457 Hamburg, Germany

Application fees

  • Language course participants
    • Certification of a copy of passport: €10
    • Authentication of signature: €20
  • Students
    • Authentication of signature: €20

Forwarding Application to Deutsche Bank

You can apply for a Deutsche bank account in your home country if there is a branch there.

At the German embassy, the consular officer will certify your application form. You will send the documents to this address through the German embassy or consulate in your home country.

DB Privat- und Firmenkundenbank AG

Alter Wall 53 20457

Hamburg, Germany

Include the following documents in the envelope:

  • Proof of source of funds. (Mostly a bank statement).
  • Copy of admission confirmation letter from the German school.
  • Certified copies of a valid passport.

The Deutsche Bank will confirm, via email, the creation of your bank account. This usually takes a few days. Now, transfer the exact amount of money required to your bank account. You can transfer more than the required €10,236, but not less! There is a fee for this transfer, depending on your country of residence. Also, there is a €5.90 monthly fee for maintenance purposes.

The process to open a Fintiba/Sutor Bank Blocked Account for students

Fintiba GmbH

Fintiba is a large and specialized company. It acts as an intermediary party between international students and Sutor Bank. Fintiba’s mission is to help international students in Germany. Fintiba is the preferred option for most students because there is little or no paperwork and hectic procedures. Everything happens online. This is a more popular option among international students in Germany. The German Federal Foreign Office approves its services and operations.

Fintiba creates blocked accounts for students at Sutor Bank. This is a partnership between Fintiba and Sutor Bank. Fintiba is fast, safe, flexible and cheaper. They offer many other services online apart from creating accounts for international students. For instance, they can provide insurances, open a regular bank account and so many other services online.

Steps by step guide for opening a Fintiba/Sutor account

  1. Go to Fintiba website, and create an account. All you need is your passport. It does not have to be certified by the German embassy. Also, Fintiba has mobile applications for Android and iOS phones. They have excellent customer support.
  2. Fill the application form. Provide all your personal details here. Scan your valid passport, and then it’s verified. In less than 10 minutes, your blocked account will be created.
  3. Deposit €10,236 into the account. International transfers may take up to 5 days. This depends on the local bank doing the transfer.
  4. Confirmation of deposit. Upon receiving the money, Fintiba will dispatch an email to inform you. At this point, your bank account is active.
  5. Book and attend the appointment at the German embassy. The blocked account is the most important requirement for the interview. Print out the confirmation email and use it as proof during your interview.
  6. Withdraw your money. You have to upload all the required documents in your Fintiba account in order to access the money. You have to create a regular current account once you arrive in Germany. Fintiba will forward your monthly payout to this account.

This video explains the whole process of opening a Fintiba account:

Fintiba GmbH

Common Questions about German Blocked account

Is it possible to withdraw money from my blocked account?

The owner of the student can withdraw €853 per month. You can withdraw less, but not more. The reason for creating the account is for the student to be in possession of money during their studies. The deposited amount covers the student’s finance for a year of studies.

How long does it take to create the account?

You have an account in less than 10 minutes with Fintiba. It may take several weeks when going through the German embassy in your home country. It will take up to a week if you have a Deutsche bank branch in your home country.

What happens to my money if I’m denied a visa?

Provide the original and stamped notice of rejection from the German embassy or consulate. You can also present a document from the local German immigration office as the case may be. Mail or email this document to your blocked account provider.

What happens to my account after I finish my studies in Germany?

Fintiba: Your blocked account will be closed automatically unless you decide to extend it for visa extension purposes.

Deutsche Bank:  Note that the account is free to use for students, but not for graduates. However, after your blocked account expires, it will continue to work as a normal current account. That is if you wish to keep using it.

In what language are the forms?

The forms are available only in English and German languages. You must use a translator if none of these is your native language.

How much does the blocked account cost?

The fees for the blocked account are the initial fee of € 89.00 and the monthly account management fee of € 4.90.

On the other hand, at Deutsche Bank, you have to pay an initial fee of € 150.00 and a monthly fee of € 5.90.

Do I need another account that is not blocked?

You need to open a current account at any bank of your choice. This permits you to receive your monthly payout from Fintiba.

Which documents can I submit to show the origin of funds?

Fintiba does not need to see any document showing the source of the funds.

Unlike Fintiba, the Deutsche bank requires a document to show the source of funds. You can submit a bank statement, proof of donation or scholarship. If more than one person is donating the money, then you must list all of them. A letter must be attached to this document if the bank statement is not in your name. Documents must be in English or German languages.

Why have I not received any information on the money I transferred a long time ago?

An email carrying a confirmation letter is dispatched 2 working days after the transfer. Check your mailbox and the spam section for this email. However, if you do not see any email, please contact the local bank in your home country and ask them about the transaction.

How do I find my branch and account number?

The blocked account confirmation letter carries all these important details. Also, it includes account number, IBAN and Bank ID Code.

I transferred more money than the required amount, can I withdraw that money?

Yes, you can withdraw all the excess money at once, or as per your need. This depends entirely on you. Once you have withdrawn all the excess money, you will now be restricted to withdraw no more than €853 per month.

I need more than the monthly payout amount. How do withdraw more than that?

You have to contact your local immigration office and get an account release approval. Upon receiving the document, submit it to the bank. After that, the needed amount of money will be available for you to withdraw.

I received a confirmation email with incorrect personal data.

Contact the provider as soon as you receive the email and ask them to correct your information. They will rectify it and send you another email to confirm and explain why the mistake happened.

Can I send the forms without authenticating them?

With Fintiba you do not need to authenticate anything. For Deutsche Bank the requirement to authenticate the forms is compulsory, therefore you must authenticate them before mailing them to the bank.

Can I send the forms by fax or scanned by email?

Deutsche Bank only accepts and treats original forms sent by mail. This is unlike Fintiba where everything is done online.

Will my account close after I stop using it?

With Fintiba, your account closes immediately, unless you decide to extend it. You can extend it if you are extending your visa.

Unlike Fintiba, the Deutsche bank account will remain open for 2 years. After that, it will be closed. The account remains open and functional for 2 years with or without any activity.

What if my request to open a blocked account is rejected?

Find out what went wrong and then try again. Submit a new request with all the supporting documents and verification.

Can I make transfers in my home country’s currency which is not the euro?

Fintiba recommends transferring money in euros. This guarantees simpler banking processes and faster issuance of blocking confirmation.

However, you can transfer the money in your home currency if the sum you transfer equals the required amount in euros. As soon as you transfer this money, they will automatically be converted into euros.

Read the latest articles on our blog