Do you want to have detailed information before opening your GBA Blocked Account? In this section, we collected a number of frequently asked questions about the GBA Blocked Account. If you have any other questions, feel free to contact us.
Here you will find the most frequent general questions about the GBA Blocked Account.
The GBA Blocked Account is offered by DR-WALTER and X-patrio in cooperation with the escrow services and payment provider MANGOPAY. Students and other visitors from abroad often need a German blocked account for their visa application.
Proof of a blocked account is usually one of the prerequisites for obtaining a visa. If you do not know whether you need a visa for your stay in Germany, please look at this official list of the Federal Foreign Office. Here you can find all countries for which a visa is required as well as additional information.
In general, €720 for every month of your stay in Germany are required as a monthly blocked amount. Please have a look at our example calculation for a 12-months' stay. If you plan to stay in Germany for more than one year, you can renew your blocked account after expiry of 12 months.
You should not transfer more money than required. The total blocked amount already includes €100 buffer, all fees, and the additional basic sum if needed. If you are requested to deposit more than €720 each month by a visa authority, X-patrio needs an official document from them stating the request.
You only need to pay a one-off set-up fee of €49 for your GBA Blocked Account. In addition to that, there are monthly costs of €5 for the management of the account.
Moreover, a safety buffer of €100 has to be paid. However, this amount is no additional expense for you because it is usually refunded when you close your blocked account.
Yes, the money on your GBA Blocked Account is safe. MANGOPAY has a European banking license and cooperates with the supervisory authority. Thus MANGOPAY fulfills the requirements of the second Payment Services Directive (PSD2), which was implemented by the EU. One of the aims of this directive is strengthening the rights of clients. Moreover, regular scans guarantee that no sensitive payment details are saved on the websites of MANGOPAY. All money is deposited in safe escrow accounts.
The safety buffer will be used to pay transfer charges in case we need to refund money. If there are no extra costs, the money will be refunded to you when you close your blocked account.
MANGOPAY is an online payment technology designed for marketplaces, crowdfunding platforms and sharing economy businesses. MANGOPAY provides the trustee services and payment technology underlying X-patrio’s blocked account. X-patrio's blocked account is tailored to each customer and it enables individual accounts for each customer, including an individual IBAN. With the MANGOPAY technology, funds can be held securely for as long as needed.
MANGOPAY holds an E-Money Issuer license, which enables X-patrio to accept payments, hold the funds in escrow and pay out with ease, speed and efficiency.
Here you will find answers to the most frequent questions regarding the online opening of the GBA Blocked Account.
We ask for your understanding that the online opening of the GBA Blocked Account is only offered in English at the moment. The reason for this is that many students who need a German blocked account are more familiar with English than with German.
You need to upload a copy of your passport when you open your blocked account. After arriving in Germany, please send us your enrollment certificate, your confirmation of your registration with the residents' registration office, and the activation order (07 Activation Order).
Yes, please transfer the amount in one lump sum in order to make sure that we can send you the confirmation of the account opening on the next day at the latest.
We recommend you use TransferWise (online money transfer service) in order to transfer your money to your blocked account. TransferWise only charges a fee of about 0.5 - 1.1% of the transferred amount so it is cheaper than many bank institutes. Alternatively, you can transfer the money directly from your bank account.
The money will be converted into euros because the blocked account will be opened in Germany. The amount you transfer in the currency of your home country needs to be identical with the amount in euros. Please note: conversion fees and transfer charges must be added to the required blocked amount on your blocked account. Example: €8,640 (minimum total sum for a year in Germany) + €95 (conversion fees and transfer charges) = €8,735 (amount of the transfer). The fees differ from bank to bank. Please contact your bank concerning this matter.
Your relatives or friends can transfer the money for you. Thanks to the individual IBAN, additional verification of the transferring person by handing in additional documents is not necessary. However, it is possible that we ask for additional documents in some cases in order to check the source of capital.
Please indicate your first and last name as account holder and your individual IBAN.
You will not get direct access to the money on your blocked account. In addition to your blocked account, you will need a conventional bank account at a bank of your choice. The agreed monthly amount will be transferred from your blocked account to this account on the 1st of each month. Many German banks offer free accounts for students.