Account Activation & Payouts
Can I receive payouts from the day I received my visa?
No, you may only begin receiving payouts from the day you entered Germany, not the day you received your visa. Please note: payouts can only be initiated for the previous three months from when you u…
How do I activate my blocked account?
If you have applied for your blocked account before December 7th 2023: You can activate your blocked account by filling out your current account (local German bank account) details in the link below.…
I am under 18 years old and cannot open my own bank account. Can the payouts be transferred to my guardian?
The monthly payouts can be ONLY be transferred to your bank account. Banks in Germany open accounts for minors if only if parent(s) are physically present in Germany. Rules vary from bank to bank. Pl…
Can I unblock my funds from my home country?
No, you cannot unblock funds from your home country, you can only unblock your funds when you arrive in Germany.
I want to unblock all the funds at once from my account, what do I do?
If for some reason you need to release all of the money in your account at once, we request a blocked account release letter (Sperrfreigabe) from the embassy/consulate.
I am having trouble uploading the documents, what should I do?
If you have any trouble uploading documents, please email us at support@coracle.de. Include the screenshot of the error you see on your screen so we can more efficiently support you.
Are there any charges associated with the monthly transfers?
No, we do not charge any monthly fees for transfers, this is one of the many ways we differentiate ourselves within the market.
Can I update my IBAN if I change bank accounts?
Yes, if you change bank accounts please let us know as soon as possible so we can update your blocked account and you can receive your monthly payout in the correct bank account.
What documents do I need to activate my blocked account?
To activate your blocked bank account we require your IBAN (German bank account number) and a copy of the immigration entry stamp showing when you arrived in Germany. The German IBAN (German bank acc…
When will I receive my excess amounts and buffer amount?
You will receive your buffer amount and any other excess transferred amount in your first payout.
Do I have to upload my enrollment certificate to activate my blocked account?
No, you do not have to provide an enrollment certificate to activate your blocked account.
What documents can I submit as IBAN proof?
You can submit the following documents as proof of IBAN: Account opening letter from your bank. Copy of your debit card. Account statement. Your name, the bank name, the bank's logo, and your IBAN be…
Can I pause my payments?
No, we cannot stop payouts after the account has been activated and payouts have begun.
On which date will I receive my monthly payouts?
Your monthly payouts will be transferred on the first working day of every month until all funds in the blocked account are depleted. Note: We cannot transfer any funds or extra funds in the middle o…
Can my payouts be sent to someone’s account other than mine?
No, we can only release your monthly payments to a bank account that is under your name. If you are a minor, please reach out to support@coracle.de for more support on this matter.
Where can I find my application number?
You can find your application number in your blocked account confirmation letter.
What do I do if my passport was not stamped on arrival in Germany?
If your passport was not stamped when you arrived in Germany, you can submit a copy of your current visa and your flight ticket information.
Can I activate my blocked account with a non DE IBAN?
Yes, you may activate your blocked account payout with a current account that has any European Union IBAN.
What does proof of an IBAN mean?
IBAN proof is the current account opening letter, which has your name, IBAN, and usually the bank's logo. It's important that you can prove the IBAN is registered under your name. If you receive a de…
Can I provide details of the current account I have in my home country for activation?
No, you may not activate your account using a bank account from your home country. Read about different options for current accounts in Germany here.
Once I turn 18, can I open my own bank account and submit the new IBAN?
Yes, once you turn 18 and open your own bank account, you can write us at support@coracle.de and connect your new IBAN to receive your payments.
What current account should I open in Germany?
You can open the bank account of your preference as long as it gives you an IBAN from within the European Union. Most student bank accounts are free in Germany and we recommend students to research b…
When will I receive my first payout?
Your first payout will be in between 7-14 business days after you upload your current account details to the portal.
