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Germany Permits Transfer Abroad of Blocked Restitution Accounts

In a new move to ease regulations governing the transfer of foreign currency, the West German Government has authorized the release for transfer abroad of blocked accounts below 10,000 marks ($2,300) which were received as compensation and restitution payments by victims of the Nazis. This move will benefit many Jews and other victims who have been unable to take their funds out of Germany.

Application for such transfers must be made through the German bank where the blocked account is held. It must be accompanied by a certificate to the effect that no such application has been made in a different state. Also, this regulation applies to original recipients of compensation and restitution payments, not to persons who “acquired” them from other individuals.

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