Coracle German Blocked Bank Account: Steps, Benefits, and Cost

A blocked bank account is one of the most foolproof methods of proving you have enough funds to live in Germany.

If you’re looking into providers and stumbled upon Coracle, we’re here to help you decide.

Below, you’ll find more information on Coracle, including how to open an account with them, their fees, and why you should consider this company in the first place.

What is Coracle?

Coracle is a Hamburg-based fintech startup offering several digital solutions for internationals in Germany. The company has been successfully operating for more than 7 years, and its services are fully approved and accepted by official German authorities.

Coracle has been expanding its list of solutions over the years, and now proudly offers tailored packages, including a blocked account, travel insurance, and health insurance. It partners with well-known providers, including AOK, Barmer, DAK, and TK, to offer the best services.

How to Open a Blocked Account With Coracle

Coracle processes blocked account requests through an application form. All you have to do is open and complete it by following the steps below:

1. Provide Personal Details

First things first, you should provide personal details. In this section, you’ll be asked to provide:

  • The reason you’re coming to Germany (main reason).
  • Date, place, and country of birth.
  • Salutation (Mr, Ms., or Mrs.) & first and last name.
  • Email address.
  • Phone number.
  • Tax residency (U.S. or non-U.S.).
  • Indicating if you’re a Politically Exposed Person.

Note: Unfortunately, the Coracle blocked account is currently not available for nationals of these countries:

  • Iran (Islamic Republic of)
  • United States of America
  • Democratic People’s Republic of Korea
  • Belarus
  • Cuba
  • Syrian Arab Republic

2. Calculate Blocked Account Amount

The next section deals with determining the amount of money you need to send to your blocked account. Most students opt for the standard €934 per month for 12 months.

However, if you received a scholarship or another form of funds that partially covers your expenses, you can lower the amount per month in your blocked account to cover the remaining.

You can also have your account set up for a shorter period of time (e.g. 4 months) if you’re applying for a short course.

The account set-up fee and the buffer fee will be automatically calculated toward the total amount you need to transfer.

3. Provide Identification Details

To proceed, you’ll need to verify your identity and make sure this information aligns with what you’ll submit for your visa/residence permit application.

You will need to provide:

  • Passport number.
  • Passport expiry date.
  • Scanned copy of your passport’s data page (containing your photo and personal information).
  • Admission letter or enrollment certificate from a German educational institution.

4. Read & Agree to the Terms and Conditions

The final step of the application form is simply downloading and reading Coracle’s agreements, and checking the boxes to accept their conditions. You’ll also find a blank box to sign it digitally.

Then, click ‘Apply’ and wait for your account to be opened. This usually takes 2-3 hours if you apply during Coracle’s working hours (Monday to Friday, 9 AM to 5:30 PM CET).

5. Receive the IBAN and Send the Funds

Next, you will receive a notification confirming that your account was opened along with your IBAN. Coracle will provide you with instructions on how to transfer funds.

There are many ways you can send the funds to your blocked account. You can do it through your bank account, an online payment service, or Forex services.

How long the money reaches your account depends on your sending bank, so give it some time, as it usually takes between 3 to 5 business days.

6. Receive the Blocking Confirmation

As soon as your funds reach the blocked account, you will get a blocking confirmation letter on the Coracle personal online portal. Download and print this to have during your visa or residence permit appointment.

Benefits of Opening a Blocked Bank Account With Coracle

There are plenty of reasons to consider Coracle as your blocked account provider:

  • Easy to open. The opening process is done through a quick and easy-to-fill application form.
  • Affordable services. Apart from the one-time fee to open your account, Coracle does not charge monthly fees to maintain your account.
  • Great reviews. Coracle has a 4.9 rating out of 5 from 2,582 reviews on and a 4.9 out of 5 from 1,251 Google reviews.
  • More benefits through PRIME UNI. The company offers a combined PRIME UNI package that includes the blocked account (40% discount), travel health insurance (free), and health insurance for a monthly premium.

Cost of Coracle Blocked Account

Coracle charges these fees for the basic blocked account:

  • Set-up fee (€99) – One-time fee to open your account (up to 12 months)
  • Buffer deposit (€80) – This fee covers any transaction fees and fluctuations in currency exchanges, so your original amount for the blocked account remains unchanged. The remaining buffer will be returned to you on the first pay-out of the blocked account.

Coracle does not charge any maintenance fees for the blocked account. The total to be transferred per year is €11,387.

Frequently Asked Questions

Do you have any remaining questions? Here are some more things you may want to know:

Can I Use the Blocked Account By Coracle as Proof of Funds for the German Student Visa?

Yes, the Coracle blocked account is accepted from German embassies and consulates anywhere in the world.

How Long Does It Take to Transfer My Money to the Blocked Account?

For most international students, the process usually takes 3 to 5 business days. However, this all depends on the intermediary bank with which the money is transferred. So, don’t panic if the money doesn’t immediately show up on your account.

How Do I Access Money From My Blocked Account?

You can’t directly access the money from your blocked account.

  1. When you arrive in Germany, you need to open a current account (e.g. N26, Targo Bank, or Vivid Bank) first.
  2. You need to submit this account’s IBAN to the Coracle portal along with a scan of the entry stamp on your passport (or a copy of your flight ticket).
  3. Once your information is confirmed, you’re good to go! You will start receiving your monthly payouts in no time.

What Happens to the Blocked Account if My Visa Is Rejected?

In the rare case that your visa is rejected, Coracle will return your money to the original account from which you sent it. You will receive it between 3 to 4 weeks after submitting your refund request.