Do you plan to study or work in Germany? Do you require a German visa and/or residence permit for this purpose? If your answer to both questions is "yes," there is a strong likelihood that you will need a Blocked Account (Sperrkonto) to secure the necessary visa or permit. A blocked account is a special bank account required by German immigration authorities for visa applicants. It proves you have sufficient funds to support yourself during your stay in Germany.
Nowadays, students have a choice of quite a few blocked account providers in Germany and abroad. These providers differ in various aspects, including their banking model and security, the scope of additional services and the pricing structure.
This article compares two of those providers: Coracle and Expatrio.
*Coracle has temporarily suspended its blocked account services due to a banking system update (more information).
Expatrio vs. Coracle: Quick Overview
Are you in a hurry? Here is the quick answer:
Both Coracle and Expatrio are among the most popular German blocked accounts and are recognized by German authorities worldwide. While Expatrio is an online provider with an Italian bank and Coracle has an escrow model via a French payment provider, both providers are highly trusted.
Overview
 |  | |
Banking Model | Banking Model Providers that don't offer any accounts anymore | Banking Model Providers with direct partner banks |
Partner Bank | Partner Bank  Escrow account via French payment provider (Lemonway SAS) | Partner Bank  Italian Bank (UniCredit) |
Availability | Availability Worldwide | Availability Worldwide |
Service for Minors | Service for Minors Yes | Service for Minors No |
Total Amount for 1 Year | Total Amount for 1 Year €179 | Total Amount for 1 Year €327 |
Basic Facts
Before we dive into the details, here are basic facts about the two companies.
Coracle
Coracle is a Hamburg-based provider of blocked accounts. Founded in 2015, the company has been offering fully online blocked accounts since 2019. It is worth noting that the company has an insurance background.
In addition to blocked accounts, Coracle also offers health insurance, travel insurance and other services.
Expatrio
Expatrio is a Berlin-based provider of blocked accounts. Founded in 2017, the company has been offering fully online blocked accounts since 2018. It is worth noting that the company has an insurance background.
In addition to blocked accounts, Expatrio also offers health insurance, travel insurance and other services.
Coracle and Expatrio in Comparison
Overview
| | |
Banking Model | Banking Model Providers that don't offer any accounts anymore | Banking Model Providers with direct partner banks |
Partner Bank | Partner Bank Escrow account via French payment provider (Lemonway SAS) | Partner Bank Italian Bank (UniCredit) |
Availability | Availability Worldwide | Availability Worldwide |
Service for Minors | Service for Minors Yes | Service for Minors No |
Total Amount for 1 Year | Total Amount for 1 Year €179 | Total Amount for 1 Year €327 |
Blocked Account Fees
| | |
Initial set-up fee | Initial set-up fee €99 | Initial set-up fee €119 |
Monthly Fee | Monthly Fee No Info | Monthly Fee €9 |
Blocked Account buffer | Blocked Account buffer €80 | Blocked Account buffer €100 |
Total Amount for 1 Year | Total Amount for 1 Year €179 | Total Amount for 1 Year €327 |
Standard Services
| | |
Recognition by German authorities worldwide | Recognition by German authorities worldwide Yes | Recognition by German authorities worldwide Yes |
German IBAN | German IBAN Yes | German IBAN Yes |
Fully digital application process | Fully digital application process Yes | Fully digital application process Yes |
English-language support | English-language support Yes | English-language support Yes |
Bundle Offers
As a student or a professional, you need the following 3 things for your German visa application and your subsequent stay in Germany:
- Blocked Account: As proof of finances for your German visa and German residence permit applications;
- Travel Health Insurance: Mandatory (almost always) for your visa application. You need it for the first few days/weeks until the regular health insurance gets activated.
- Health Insurance: Everyone residing in Germany is obliged to have health insurance. For students: you cannot enroll at your University without it.
Hence, we strongly advise you to book these products right away. You can do that through almost every blocked account provider's bundle offers.
When it comes to Coracle and Expatrio, both have special “package” offers, which include a Blocked Account, Travel Insurance and Health insurance (specialized in helping internationals).
Insurances
| | |
Bundle name | Bundle name Coracle Prime | Bundle name Expatrio Value Package |
Health Insurance (Statutory) | Health Insurance (Statutory) AOK (depending on the local AOK branch) Barmer €146.29-€151.42 per month TK €139.11-€144.24 per month | Health Insurance (Statutory) TK €141.16-€146.29 per month |
Health Insurance (Private) | Health Insurance (Private) No Info | Health Insurance (Private) DR-Walter, Ottonova from €33/€129 per month |
Travel Insurance | Travel Insurance Free Travel Health Insurance | Travel Insurance Free Travel Health Insurance (worth €95.00) |
Additional Disclaimers
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You can also visit the Fintiba website to open your blocked account: 
