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Blocked Account for Germany
How Does This Process Work?
1. Talk to Executive
You will receive a call from us within 60 minutes (during working hours)
2. Submit Details
Submit necessary details for the Blocked Account through an online form.
3. Blocking Confirmation
Receive Blocked Account opening Confirmation within 24 Hours.
1. Apply Online
Request a call back from our highly receptive team.
2. Talk to Executive
Give your contact details in the form and we will arrange a call with representative.
3. Funds Transfer
You make the transfer of the required blocked amount. As soon as the transfer is complete your blocking confirmation will be issued automatically!!
4. Blocking confirmation
Receive the Blocking Confirmation within 48 working hours.
Frequently Asked Questions
A blocked account is basically a proof of payment that shows you will be able to support your own living expenses while in Germany. The money is ‘blocked’ until you have arrived in Germany. To release the funds, all you have to do is show a proof of address and or enrolment. They will then be deposited monthly into your own German bank account that is accessible for your living expenses.
Expatrio is the first digital end-to-end relocation platform for students, expatriates and anyone moving to Germany. By combining a unique individual assessment with possible direct contract conclusion for all necessary products and services, the platform eliminates the prevalent pain throughout the relocation value chain. Expatrio together with ECO-Escrow developed an unprecedented way of opening and running a Blocked Account that is officially approved by the German Federal Foreign Office.
If you are coming to Germany as an EU citizen, you usually do not need a visa and thus you neither need a Blocked Account. Yet, it always depends on your individual situation – simply try the Expatrio exploration tool and find out whether you need a Blocked Account in your specific situation.
No. The set-up and service fees will be included in the Total Blocked Amount. No need for additional transfers.
The Expatrio Blocked Account is the cheapest version you will find digitally. You will only be charged an account set-up fee of 49 EUR and an additional 5 EUR service fee per month. This will cover the costs of the underlying banking infrastructure as well as the ECO-Escrow and Expatrio services.
Yes, you can.
Expatrio Blocked Account (which is an Escrow Account in its core) is a government licensed service. In addition, your deposit is covered by a statutory Deposit Guarantee Scheme and a contractual Deposit Guarantee Scheme. If insolvency of your credit institution should occur, your deposits would, in any case, be repaid up to EUR 100.000.
No, you cannot.
You cannot use your Blocked Account to pay your monthly rent or other daily expenses. The Blocked Account is not available for any transfers or payments except for the monthly disbursement to your German Current Account. This is the case because of the Blocked Account’s sole purpose is to secure the living costs of a foreign student while studying in Germany.
Blocked Account for Germany
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