A “Sperrkonto” translates to a “blocked account” in English, which is a special type of bank account primarily used by international students or job seekers coming to Germany.
What is “Sperrkonto”?
A Sperrkonto is a bank account with restricted access, designed to prove financial stability and resources for individuals planning to stay in Germany for a certain period. It is most commonly required for international students, au pairs, job seekers, and apprentices from outside the European Union who need to demonstrate they have sufficient funds to cover their living expenses while in Germany[2][3]. The account holder can only withdraw a predetermined amount monthly, ensuring they have a steady income throughout their stay.
More information about “Sperrkonto”
The German government sets the required minimum deposit and monthly withdrawal limits for the Sperrkonto. As of January 1, 2023, the annual deposit requirement is 11,208 euros, with a maximum monthly withdrawal limit of 934 euros for students[3]. This account is essential for obtaining a German visa or residence permit, as it serves as proof of financial resources[3][16].
Related to “Sperrkonto”
Here are some additional terms that are related to Sperrkonto:
- Girokonto: A current account used for daily banking transactions. It is necessary to have a Girokonto to transfer the monthly allowance from the Sperrkonto[1].
- Visum: A visa required for entering Germany, for which a Sperrkonto may be needed as proof of financial stability[3].
- Aufenthaltserlaubnis: A residence permit that allows you to stay in Germany for more than 90 days. A Sperrkonto is often required to obtain this permit[3].
In conclusion, a Sperrkonto is a crucial financial tool for international students and others planning a long-term stay in Germany, ensuring they have the means to support themselves during their time in the country.