Wondering which is the best blocked account in Germany for you because the Blocked Account Amount Increased to €11208? Here’s my Coracle Blocked Account Review. You will find all details related to the Blocked account in this blog.
If you have already set your mind to studying in Germany, these are the following things that you should know first:
- What is a blocked account?
- How much is the blocked amount?
- Who needs a blocked account for a student visa in Germany?
- How can I open a blocked account in Germany?
Let’s get started then with a short answer to the above questions. You might also want to check what are the basic requirements to Study in Germany for Indian Students.
1. What is a blocked account?
A Blocked Account is one of the mandatory documents for visa applications and basically for students who plan to study in Germany and are applying for a student visa. The German government wants to ensure that a student who is planning to study in Germany can afford the cost of living in Germany. Thus, they want every student to open a blocked account, and transfer the required amount to that blocked account so that students can survive in Germany. Hence, this works as financial proof for visa purposes.
1.1 How much is the blocked amount?
From October 2022, the presumed annual requirement that must be paid into the blocked account when applying for a visa amounts to €11,208 for one year. The account only permits the withdrawal of a certain amount per month (for students currently 934 euros per month). Hence, one cannot withdraw more money than the monthly limit.
Earlier, the blocked amount was €10.332, where students could withdraw €861 every month.
1.2 Who needs a blocked account for a student visa in Germany?
Every student who is planning to come to Germany on a student visa would need a blocked account. One doesn’t need a blocked account if they have a scholarship and a sponsor living in Germany who can afford the cost of their living.
You will need a passport, digital photo and admission letter from your university to open a blocked account. I have also made a step-by-step video on how to open a blocked account in Germany. Coracle is one of the professional service providers with the help of which you can get your blocked account open.
Coracle assists you with your blocked account requirement which is one of the essential documents for visa purposes. Coracle is Approved by German Federal Foreign Office. Accepted by all German Embassies and Consulates.
There are four products that Coracle offers:
2.1 Coracle Prime
Coracle PRIME is specifically designed for students starting their Bachelor’s or Master’s studies in Germany. It includes not only a blocked account, and free incoming travel insurance, which are requirements for a Student Visa but also public health insurance.
Fees for Coracle Prime is Just 59 Euros for up to 1 year. No monthly fee.
2.2 Blocked Account
Blocked Account is a suitable option for those who do not qualify for Coracle Prime. Hence, this product can be used for Job Seeker Visa, Studienkolleg, Language Course, etc.
Fees for a Blocked Account is Just 99 Euros for up to 1 year. No monthly fee.
2.3 Travel Insurance
Save up to 90 Euros! As you get the Travel Insurance for free as a welcome bonus for becoming our Health Customer. Unlimited treatment cost (>30K Euros), valid for up to 180 days. No deductibles and German Provider (ERGO Group)
2.4 Student Health Insurance
German health insurance made it easy for students with Coracle. Choose from the best public and private health insurance companies.
3.0 Is Coracle Prime Worth it?
When you compare both the plans of blocked accounts, Coracle Prime is significant for students who are applying for Bachelor’s or Master’s programs. The blocked account fee reduces from 99 Euros to 59 Euros in Coracle Prime.
With no monthly fee to maintain a blocked account, Coracle Prime is definitely worth it. You will also get free travel insurance and health insurance option to choose from 3 public health insurance companies.
Therefore, Coracle Prime is definitely a great money saver option.
4.0 Coracle Blocked Account Review
I genuinely think, the company is authentic and the application is hassle-free. One can apply and get blocked account confirmation even within 24 hours sometimes.
The benefits of opening a blocked account with Coracle are its Fees and Services. When other blocked account providers are asking for monthly fees to maintain the blocked account, Coracle charges zero monthly fees for maintenance. Thus, it makes Coracle the cheapest, most affordable and best digital solution to open blocked accounts in Germany.
You will also have an option to choose from 3 public health insurances and get the best deal for you. Last but not least, Coracle provides Free Travel health insurance that helps you save up to 90 Euros and covers all pre-existing diseases.
Hence, looking at all the major providers available in the market, I personally find Coracle as the best blocked account service because of all the benefits that Coracle provide.
FAQs on Blocked Account
How long does it take to open a blocked account?
An international transaction might take 3-5 working days. In case you transfer the funds from Germany / SEPA region, it takes 1-2 business days to receive the confirmation letter for the visa process.
Is the Coracle PRIME offered only for Bachelor’s or Master’s students?
Yes, currently the PRIME package is only for students, who will be starting their Bachelor’s or Master’s in Germany. Coracle does not offer this package for others like language students, studienkolleg, job seekers etc., yet.
How to extend Coracle blocked account after 1 year in Germany?
Simply write an email at firstname.lastname@example.org, along with the information on how many months the account needs to be extended and the amount that needs to be blocked monthly to extend your blocked account.
Is there any cancellation fee for Coracle?
There is no additional fee for cancellation. If your visa is rejected, we will refund the blocked account fee as well.
How do I transfer the funds to the blocked account?
While opening a blocked account with Coracle, You can transfer the funds using a local Bank or Online payment services or Forex services to the blocked account.
Can I deposit the funds in cash for opening a Blocked Account?
No, Coracle does not accept the funds in cash. We advise you to transfer the funds through a local bank or forex services. For more details, kindly write at email@example.com or call us on +49 40 60775010, for more information.