Open a Blocked Account for Minors - Fully Digital

Yes, you can extend a Blocked Account for Minors. However, please note that there are two different processes, depending on the child’s age. If the child is still under 18 years of age at the point the extension process is initiated, you can follow all steps outlined in the Fintiba App. Simply log into your Fintiba account and click on 'Extend Account' in the Blocked Account section. If your child has turned 18 by the time you want to extend the Blocked Account, you still need to initiate the process from within the Fintiba App. However, in addition your child must open a new Blocked Account in their name. You can then connect your already running Blocked Account with the newly created account for the extension process. Your Fintiba App will seamlessly guide you through the process.

The only documents you need for the opening process is your passport and the passport of your child.

You as parents are the account holder and are responsible for all orders. If your child would like to have information about the account, you can leave your consent in the process so that he/she can receive information about his/her account by phone.

Please note that the video legitimation process is only available in English or German. For the video legitimation, you need the original passport that was used to open your Fintiba account. Also note that access to the mobile phone number used during the start of your video legitimation must be guaranteed. To start the legitimation, log in to your Fintiba account and go to “Profile”. There you can click on “Video Legitimation” to start the call. A new tab through WebID will open upon your click. During the call, you should ensure a good internet connection and good lighting in the room, so you and your passport are clearly visible. It is important that you answer the questions by yourself during the video call. You will be asked for your E-mail and Phone number to receive a code, which you should write on the respective field you will see on your screen to successfully complete the video legitimation!

No, the blocked account cannot be used to pay the monthly rent and other expenses. The blocked account serves to secure the living expenses of a foreign student while studying in Germany. Therefore, the money from the blocked account is not directly accessible.

You can open the account as soon as you know when your child’s visa appointment is. We usually open the account within 10 minutes if all documents are uploaded correctly. If the money is transferred as quickly as possible, the blocking confirmation can be issued within a few days. Depending on the video legitimation process, it may take a few more days to activate the account and issue the blocking confirmation.

If you are already 18 by the time you want to extend the Blocked Account, your parent must initiate the process from the original account in the Fintiba app. In addition, you must now create your own Blocked Account as well. We will then connect the already running original Blocked Account with the newly created account.

If you are still under 18 years of age by the time you want to extend your blocked account, your parents will need to initiate the process in the Fintiba App. They can do so by clicking on “Extend Account” in the blocked account section. The Fintiba App will offer step-by-step guidance through the whole process.

The money remains in your blocked account until your arrival in Germany. Once you are in Germany, you can have your monthly blocked amount paid out to a current account, for which there are the following options. If both your parents arrive with you in Germany – they can open a current account in your name in a bank of your choice. If only one of your parents arrives with you in Germany – he or she can open a basic account in their name. Important – this should be the parent who is also the Fintiba account holder! From abroad, your parents can open a bunq account for you in your name from abroad (if one of them already has a bunq account). Here is more information on how to open a bunq account for minors and a list of eligible countries. One of your parents can open a WISE multi-currency account from abroad in their name. Important – this should be the parent who is also the Fintiba account holder. Find out if your country is eligible here. In general, we advise you to take enough cash with you to Germany.

As your parents will open the blocked account for you, they will also be the holders of the account and will be able to manage it for you. This process is agreed upon with the German Federal Foreign Office.

The account holders of your blocked account are your legal guardians and all account orders must be initiated by them via the app. However, you can receive account information by phone if your parents give their consent during the process. Otherwise, your parents will receive all account information via email.