Expatrio together with MANGOPAY developed a way of opening and running a Blocked Account that is officially approved by the German Federal Foreign Office.
With a fully digital process and no paperwork needed, the Blocked Account combines startup pace and agility with the highest security standards. Moreover, due to having built automated processes and a superior infrastructure, Expatrio is able to offer the cheapest alternative on the market.
- Expatrio sends your opening confirmation within 24 hours after successful identification and verification (during German working days).
- After we confirm your transfer sent to the Blocked Account, the "06 Blocked Amount Confirmation" will be issued. This is the document you need for your visa application process.
- Domestic money transfer would take 2-4 days, whereas overseas transfer would take 1-5 days and in rare cases up to 2 weeks.
- However, in most cases, you can finish your Blocked Account opening process within 4-5 working days.
Apart from that Expatrio's Blocked Account offers a high level of flexibility. You can extend or cancel your Blocked Account on a monthly basis.