Open a German blocked Account in Nigeria – 6 Simple Steps

If you are considering opening a German blocked account in Nigeria, it is essential to know if it is possible. Many Nigerian students trying to get a German student visa have often encountered the challenge of opening a blocked account as part of the visa requirements.

For those new to this, you should know that all international students from non – EU Countries, including Nigeria, must show they have the means to pay for their living expenses while studying in Germany. To demonstrate your proof of funds, you need to present what they call a “blocked bank account.”

This article will explain how to open a German blocked account from Nigeria without any trouble. Follow the simple steps below, and your new account will be up and running quickly.

What is a German Blocked Account?

A German Blocked Account is a unique type of bank account peculiar to international students who plan to study in Germany for over 90 days. It is also referred to as “Sperrkonto” in German.

A German Blocked Account aims to show the German authorities that you have sufficient financial resources to cover living expenses while studying in Germany. You must deposit a specified amount of money into the account, which is blocked and cannot be withdrawn until you arrive in Germany and begins your studies. As of October 2022, the annual requirement to be paid into the blocked account when applying for a visa is 11,208 euros (₦8,574,120). You can open this account with a German or foreign bank recognized by the German authorities.

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How to open a German blocked account in Nigeria.

A Blocked Account is an essential requirement for Nigerian students who wish to study in Germany, and it is recommended that they start the process of opening the account as soon as possible to ensure that they have sufficient funds to cover their expenses when they arrive in Germany. The Deutsche Bank and Fintiba are Germany’s most common providers of blocked accounts.

Here are the six steps to open a German-blocked account in Nigeria.

Step 1: Choose the Provider

The first step to opening a blocked account in Nigeria is to choose an authorized provider. Currently, several providers are available, including Deutsche Bank, Fintiba, and Coracle. Each provider has different requirements, fees, and benefits, so it is essential to research and compare them before making a decision. We, however, recommend using the Deutsche Bank because of its wide usage and reputation.

Step 2: Apply Online for Your Blocked Account

Once you have selected a provider, the next step is to apply online for your blocked account. This process is simple! You will create an account on the provider’s website, submit personal information such as your name, address, and passport number, and upload relevant documents. The required documents typically include a valid passport, visa or residence permit, and proof of address in Nigeria.

Step 3: Download and Fill Out the PDF Application Form (Deutsche Bank Only)

If you choose a Deutsche Bank, as we recommend, you must download and fill out the PDF application form. This form requires you to provide information such as your details, the reason for opening the account, and the expected duration of your stay in Germany. In addition, you will be required to sign the form and attach a passport-sized photograph.

Step 4: Seek Proper Legalization at the German Embassy (Deutsche Bank Only)

If you have chosen Deutsche Bank as your provider, you must get your application form legalized at the German embassy in Nigeria. This process involves submitting the completed form, your passport, and other relevant documents and paying the required fees. The german embassy in Nigeria will verify your documents and provide the necessary legalization, which you can use to open your blocked account with Deutsche Bank.

Step 5: Deposit Funds

After completing the application process above, you will need to deposit funds into your blocked account. The minimum amount required varies depending on the provider and the duration of your stay in Germany. For example, the Deutsche Bank requires a minimum deposit of 11,208 euros for a one-year stay, while Fintiba requires a minimum deposit of 10,236 euros for the same duration.

Step 6: Get Your Blocking Confirmation

Once you have deposited the required funds into your blocked account, the next thing is to request a blocking confirmation from your provider. This document proves your financial resources and is needed when applying for a German study visa.

How to Transfer Money to a German-Blocked Account

When it comes to transferring money to a blocked account in Germany, you may consider many options. You can transfer money to your blocked account in Germany using one of two methods:

• International Bank Transfer
• Money Transfer Companies

International Bank Transfer

This is the most common way to transfer money to a German-blocked account. To do this, you must have the IBAN (International Bank Account Number) and the BIC/swift Code of the recipient’s account. These can usually be found on the recipient’s bank statement or by asking the recipient directly.

Once you have this information, you can initiate an international bank transfer from your bank account to the recipient’s account. Depending on the banks involved, this process may take a few business days. You will receive your blocked account confirmation as soon as the funds are paid to your bank account, which you can use for your visa application.

Money Transfer Companies

Another way to transfer money to a German-blocked account is through money transfer companies like Western Union, TransferWise, Paypal, or MoneyGram. These companies allow you to send money to recipients in different countries, and they often have competitive exchange rates and lower transfer fees than traditional banks.

To use a money transfer company, you must create an account with them and provide the recipient’s bank account details.

Once you have initiated the transfer, the recipient can typically collect the funds from a local branch of the money transfer company within a few minutes to a few business days, depending on the company and the location.

How to Withdraw Money From the Blocked Account in Germany

Once you arrive in Germany from Nigeria, you can withdraw money from your blocked account once you have settled at a recognized location in Germany. Remember that you will not have direct access to your blocked account in Germany. Having said that, the only method to withdraw your money is to register an international student bank account in Germany, in which your blocked funds will be deposited every month.

Unless you’ve deposited more than the statutory minimum, you can withdraw a maximum of €934 monthly. This amount is transferred from your Sperrkonto to your international student bank account, from which you can withdraw funds anytime.

Frequently Asked Questions

Here are some frequently asked questions about opening a German-blocked account in Nigeria:

How can I open a German-blocked account in Nigeria?

The process outlined above should be followed to open a blocked account. So, please follow those steps carefully, and ensure that you request a blocking confirmation from your provider to process your visa.

Can I deposit more than €11,208?

Yes, you can. You certainly can. This is just the minimum required to apply for your student visa. The German government expects you to have enough money to live in Germany for at least a year.

What is the current German blocked account amount?

According to the German Foreign Ministry, the presumed annual requirement to be paid into the blocked account when applying for a visa will be ₦8,574,120 beginning January 1, 2023.

Are there other options for opening a blocked account?

Yes, there may be alternative ways to prove it, but you must first enquire at the German consulate. For example, you may have a relative living in Germany who promises to fund the expense of your stay.

Which bank is best for a blocked account in Germany?

The Deutsche Bank is reputable in Germany with a wide range of services, including blocked accounts for international students. They have a dedicated team for student services and offer online account openings. Another option is Fintiba, a digital platform that offers blocked accounts for international students in Germany. They have a fast and straightforward account opening process, with the option to manage the account online.

Conclusion

Overall, opening a German-blocked account in Nigeria is a simple process. In fact, the process can be completed in less than 72 hours. Furthermore, the process requires careful planning, attention to detail, and patience. Therefore, starting the process as soon as possible is recommended to minimize delays or issues with your student visa. We wish you the best in this process, and don’t hesitate to share this article with friends. Thank you.