If you need a visa to study in Germany, you often also need a blocked account (Sperrkonto), to prove that you have enough funds to sustain yourself while living and studying in Germany. Here I compare cheap offers for German blocked accounts.
What is a Blocked Account?
A blocked account is a special type of bank account that
- requires you to initially pay in a big sum that will cover your spending for a whole year. Currently, this is minimum 8700 €
- then allows you to withdraw every month only 1/12 of it, i.e. 725 €
Comparison of Blocked Accounts
If you only order a blocked account from them, you pay the following fees – but read below the table, all three also offer packages together with health insurance that make the whole thing cheaper!
|Sum in first year||€147.80||€109||€99|
|Go to Fintiba*||Go to Expatrio Blocked Account*||Go to Coracle Blocked Account*|
Cheaper with a Package: Blocked Account, Health Insurance, ISIC card …
As a foreign student, you usually do not only need a blocked bank account, but also health insurance:
- incoming health insurance if you arrive before the semester starts (e.g. on September 1st)
- public student health insurance after the German semester has begun (e.g. on October 1st)
And all 3 of them offer packages with both a blocked account and health insurance that make the whole thing cheaper. Especially with Expatrio, you can bring the registration fee down to €0, effectively only paying the monthly fees. And Coracle is even cheaper… let’s take a look:
Fintiba’s package Fintiba’s Plus comes with a travel and incoming health insurance for max. 48 months and is automatically cancelled once the semester starts and you are enrolled in a public health insurance. Additionally, you receive a free travel health insurance for your visa.
Expatrio Value package
Expatrio’s Value package gives you an incoming health insurance, too, this one valid for max. 180 days (~6 months). Different to Fintiba, you get the first month for free.
Additionally, Expatrio gives you:
- a current bank account from Monese (free for the first 12 months, then 4.95€). If you want to stay free, consider then switching to another free German bank account
- a free liability insurance for 1 year
- a free ISIC student card for 1 year
A very cheap option of all is Coracle Prime, which comes with a free incoming health insurance that you need when arriving in Germany. It’s also the one you need to show at the German embassy to get your Visa.
And on top, they refer you to a regular public German health insurance (like TK or Barmer), one that you need anyway when staying in Germany (where you then pay their regular monthly health insurance rates, around €100).
All things together you can book with Coracle Prime* for a one-time fee of €59, without any additional monthly costs for the blocked account.
See here all compared side-by-side:
|Fintiba Plus*||Expatrio Value package*, limited offer with voucher code FREEBA19||Coracle Prime*|
|Blocked account monthly fee||€4.90||€5||€0|
|Current account||–||Monese Plus Plan: free for the first 12 months (then 4.95€/month)||–|
|Incoming Health Insurance (if you arrive before semester starts)||from Mawista, 48 month max||from Dr. Walter, 180 days max||from ERGO group, 180 days max|
|Cost of Incoming Health Insurance||€33.10/month||free for first 31 days (if you need it longer, then 33€)||free|
|Public Health Insurance||from DAK, ~€100/month||from TK, ~€100/month||from TK, Barmer, or IKK; ~€100/month|
|Liability insurance||–||free in first year, cancelled automatically||–|
|ISIC card||–||free in first year, cancelled automatically||–|
|Go to Fintiba*||Go to Expatrio Value package*||Go to Coracle Prime*|
Something left unanswered? Then feel free to ask in the comments!
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