Difference between revisions of "Germany/Banking"

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Revision as of 00:13, 2 July 2022

When living in Germany, having a German Bank Account (or a Euro currency account) can be useful. Here is a list of accounts by features.

This article covers accounts for individuals, also called current account or giro account (Girokonto). For other account types, see

Banks in this article are sorted by features, popular ones are:

Questions & Answers

Do I need a German or a Euro bank account?

To pay rent and most bills or receive salary, you usually need an account that can send and receive SEPA transfers in EUR.

So your bank account does not need to be from Germany. It must only be able to send and receive SEPA transfers in EUR. Many accounts from other EU and EEA countries can do that.

However, some companies and authorities have problems using non-German account number (IBAN). This is illegal but it may happen. Then, a German account is more convenient.

What do I need to open a German bank account?

This varies from bank to bank. However, these things are common:

  • You always need prove your identity, e.g. with a passport or national ID card.
  • You often need give an address, so that the bank can send you a credit or debit card.
  • Sometimes, you need to show your registration (Anmeldung)
  • Some banks want to see your income and credit history. (E.g. DKB[1] is known to be picky.)

See also: Banks Recommended for Foreigners.

Which type of bank account can I use as a freelancer?

To receive income from freelancing or your business, you usually need a business bank. Banks listed here are for individuals who want to receive their salary from being an employee, their scholarship or similar.

Do I get interest on my money?

On giro accounts in Germany, you usually do not get interests paid out. For such offers, check the List of German Savings Accounts.

Which bank is the best for me?

A bank that

  • speaks your language. There many offers with support in English or even more languages.
  • has free cash withdrawals. While all supermarkets already allow card payments, you will still need to use cash at smaller shops, cafés, restaurants or food trucks.
  • has no monthly fees. There are so many banks even without fees, so you don't need to pick one that costs money.
  • lets you sign up with our documents. If you don't have an registered address (Anmeldung) yet, this can be difficult.

See also: Banks Recommended for Foreigners.

Lists of Banks for Individuals (Girokonto)

Banks With English Support

These banks have support also in English.

  • Bunq[1], speaks also: Dutch, French, Italian, Portuguese, Spanish
  • Commerzbank[1] (online banking, after signup)
  • Deutsche Bank (online banking, after signup)
  • Insha
  • Lydia
  • Monese, speaks also: Bulgarian, Czech, German, Estonian, Spanish, French, Italian, Lithuanian, Polish, Portuguese, Romanian, Turkish
  • N26[1], speaks also: French, German, Italian, Spanish
  • Nuri[1]
  • Revolut, speaks also: Bulgarian, Croatian, Czech, Danish, Dutch, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Japanese, Latvian, Lithuanian, Norwegian, Polish, Portuguese, Romanian, Slovakian, Slovenian, Spanish, Swedish
  • Tomorrow[1]
  • Vivid Money, speaks also: French, German, Italian, Spanish
  • Wise, speaks also: Chinese, French, Hungarian, Indonesian, Italian, Japanese, Polish, Portuguese, Romanian, Russian, Spanish, Turkish
  • Yuh

Banks With No Registered Address (Anmeldung) Required

These banks to not require a registered address (Anmeldung).

  • Bunq[1]: requires passport or ID card[2]
  • Monese[1]: requires passport or ID card[3]
  • Revolut: required passport or ID card, maybe also a visa[4]
  • Vivid Money: You can open an account without Anmeldung but within 90 days, you must provide a tax ID (TIN). You get a TIN after an Anmeldung.
  • Wise

Banks With a German Account Number

These banks offer an IBAN from Germany.

Banks With No Monthly Fees

These banks do not charge a monthly fee.

No regular fees if you receive money on it regularly

No regular fees for young people

Banks With Free Cash Withdrawals

These banks allow you to withdraw cash without fees.

… at bank machines worldwide

… at bank machines in €-zone / EEA

… at bank machines of the bank's network

…at shops

There are 2 systems for withdrawing cash at shops: Viacash and Cash-Back.

Banks with Cash Deposits

These banks allow you to top-up your account with cash.

Banks With Joint Accounts

Banks with joint accounts allow two or more people to own and access the same account. An alternative to this are shared pockets or group vaults where each customer has their own account but can create pockets/vaults that can be access by other users.

Banks For Children

Banks with joint accounts allow two or more people to own and access the same account. An alternative to this are shared pockets or group vaults where each customer has their own account but can create pockets/vaults that can be access by other users.

Banks With Multiple Currencies

These bank offer to not only hold your money in EUR but also in other currencies.

  • Bunq[1]: offers USB, GBP, CHF, PLN, BGN, DLL, SEK, CAD, TRL, CZK, RON, AED, AUD NOK, ZAR[34]
  • Lydia: offers EUR & GBP[35]
  • Monese: EUR, GBP and RON
    • GBP only when living in the UK[36]
    • RON only with Romanian ID [37]
  • Revolut: AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, JPY, NOK, PLN, RON, SEK, USD, ZAR[38]
  • Vivid Money: up to 100+ currencies[39], but can be topped up only in EUR[40]
  • Wise: 50+ currencies[41]
  • Yuh: CHF, USD, EUR, GBP, JPY, AUD, CAD, SEK, HKD, NOK, DKK, AED, SGD[42]

Banks With A Broker

These accounts allow you to trade shares and funds / ETFs. The term in German is usually Depot.

See also: List of German (Online) Brokers.

Banks With Crypto Currencies

These accounts allow you to trade Bitcoin etc.

Banks With Bonuses

These accounts will pay you for signing up.

  • 1822direkt: €25 or €75 bonus (depending on account type) if you receive 3 salary payments of min. €1000 each within the first 6 months[61]
  • Commerzbank[1] : €50 welcome bonus if you send or receive 5 payments per month of min. €25 (salary, providers etc.) and agree to sales calls[62]
  • Norisbank[1]: €50 welcome bonus if you use their account switching service[63]
  • Vivid Money: €40 in cashback, if you
    • make 3 in-store card payments of at least €10 each
    • on 3 different days
    • within 90 days of opening your account.

Comparisons of Banks

These finance services compare current bank account options on the market and let you filter the list by specific features:

Banks for Individuals Compared

Banks for Students Compared

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