One of the major requirements for third countries citizens to get entrance visa to Germany as student, job seeker, internship, preparatory courses (Studienkolleg) and similar purposes is to prove financial maintenance. Blocked account (Sperrkonto) is one of the established way for this purpose.
What are requirements?
You can open the block account while you are still in your home land. The blocked account can be opened after you get admission for the university or when other required documents for visa application is fulfilled.
There are few banks in Germany that provide the service for opening blocked account before your presence in Germany. Coracle, Deutsche Bank, Fintiba and Expatri are the banks that against a fee, provide this service.
It is not easy for all nationalities to open the block account while they are in home land. In that case, you may give a letter of commitment to the German Consulate that upon your arrival you will open a blocked account in Germany. Accordingly you can receive your long term residency permit for the purpose of study in Germany.
For the year 2020 you need the remit the minimum amount of 10,236 Euro into a blocked account. The bank will provide you with a confirmation on paid amount that you can show it to the German local Consulate for your visa purposes. Upon your arrival in Germany and by the start of your presence in Germany, the bank will automatically release the amount of 853 Euro per month to your personal bank account so that you can use it for your life and expenses. Through this procedure you are sure that your expenses are fully covered for one year.
In case term of your planned stay is shorter than one year and your visa application is also limited to that period, you can remit the credit in ratio to the time of your stay in Germany.
If you get a student job, you may not be required to fill again the blocked account for next year of study and you can show your student job income as part of your financial support.
Current Bank Account
Upon your arrival in Germany, you need also to open a current account (Girokonto) for payment of the monthly released amounts from your block account. You can open this account with the same bank that has the blocked account or you can use services of another bank. It is recommended that by your arrival in Germany you compare services of different banks and chose one of them for your current account.
Each bank may require different documents for opening your blocked account. Normally your passport, your ID and an application form is required. You may be needed to provide your university admission or a bank statement on availability of the fund. You can check the required documents with your chosen bank.
The blocked account should be opened under your name and not under the name of any third party. The blocked account cannot be closed without approval of the blocked account holder. The account is accessible after you register yourself at the local immigration office to get your residence permit. With a registered address in Germany you can open a current bank account in Germany into which the monthly allowance is paid.
You should have time management for opening the bank account from one hand and presenting bank confirmation at your interview appointment, at the German Consulate, from the other hand. Therefore for choosing your bank, you should take a note on needed time for opening the blocked account.