Difference between revisions of "Germany/Banking"

Revision as of 23:04, 3 February 2022

When living in Germany, having a German Bank Account (or a Euro account) can be useful. Here's a list of accounts for people having an address in Germany. For some banks, having a registered address is not necessary.

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

For other account types, see

Frequently Asked Questions (FAQ)

What is a German bank account?

In this article, German bank account are accounts that have an account number (IBAN) starting with DE….

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 necessarily 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.

Which bank account can I use for my freelancing?

To receive income from freelancing or your business, you usually need a business bank account. Regular bank accounts 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 List of German Savings Accounts.

Which bank account is the best for me?

A bank account 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 bank accounts 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.

Lists of (Giro) Bank Accounts for Individuals

Bank Accounts With English Support

Bunq, speaks also: Dutch, French, Italian, Portuguese, Spanish
Commerzbank (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, speaks also: French, German, Italian, Spanish
Nuri
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
Vivid Money, speaks also: French, German, Italian, Spanish
Wise, speaks also: Chinese, French, Hungarian, Indonesian, Italian, Japanese, Polish, Portuguese, Romanian, Russian, Spanish, Turkish
Yuh

Bank Accounts With German Account Number (IBAN)

Bank Accounts With No Monthly Fees

… if you receive money on it regularly

1822direkt if you receive minimum €700 every month
Commerzbank if you receive minimum €700 every month
comdirect if you receive minimum €700 every month
ING if you receive minimum €700 every month
Norisbank if you receive minimum €500 every month
O2 Banking if you receive minimum €700 every month

… for young people

comdirect if you are under 28
ING if you are under 28
Norisbank if you are under 21
O2 Banking if you are under 28 and a student, apprentice or trainee

Bank Accounts With Free Cash Withdrawals

… on all bank machines

… on all bank machines in EEA

Insha 2 free withdrawals per month

Bank Accounts With Multiple Currencies

Bunq: more info
Lydia: EUR & GBP
Monese: EUR, GBP and RON (RON only with Romanian ID
Revolut: AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, JPY, NOK, PLN, RON, SEK, USD, ZAR
Vivid Money: up to 105 currencies, but can be topped up only in EUR
Wise: 50+ currencies
Yuh: CHF, USD, EUR, GBP, JPY, AUD, CAD, SEK, HKD, NOK, DKK, AED, SGD

Bank Accounts With A Broker

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

Bank Accounts With Crypto Currencies

These accounts allow you to trade Bitcoin etc.

Bank Accounts With Bonuses

1822direkt: €25 or €75 bonus (depending on account type) when receiving 3 salary payments of min. €1000 each within the first 6 months (conditions
Commerzbank: €50 welcome bonus (conditions)
Vivid Money: €10 welcome bonus + up to €100 cashback

Comparisons of Bank Accounts

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

Bank Accounts for Individuals Compared

Bank Accounts for Students Compared

Student bank accounts compared by FinanceAds.

Bank Accounts Recommended for Foreigners

All listed banks also accept non-Germans. But some make it easier than others.

Bank accounts suitable for expats:

have support in English (or even more languages)
do not require you to have a registered address (Anmeldung)
accept many foreign passports and identity cards for opening

Recommended bank accounts for expats are:

N26: accepted documents, IBAN from Germany
Vivid Money: accepted documents], IBAN from Germany
Revolut: accepted documents, IBAN from Lithuania
Wise: accepted documents, they initially do not ask for your address but might later, IBAN from Belgium

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@@ Line 137: / Line 137: @@
 * {{Link|Yuh|yuh}}: [https://www.yuh.com/en/features/invest more info]
-=== Bank Accounts With Signup Bonuses ===
+=== Bank Accounts With Bonuses ===
+* {{Link|1822direkt|1822direkt}}: €25 or €75 bonus (depending on account type) when receiving 3 salary payments of min. €1000 each within the first 6 months ([https://www.1822direkt.de/fileadmin/Home/Dokumente/PDF/Girokonto/Teilnahmebedingungen_fuer_die_Girokonto-Praemien.pdf conditions]
 * {{Link|Commerzbank|commerzbank}}: €50 welcome bonus ([https://www.commerzbank.de/portal/de/privatkunden/konten-karten/produkte/kostenloses-girokonto/kostenloses-girokonto.html#startpraemie conditions])
-* {{Link|Nuri|nuri}}: €30 welcome bonus
 * {{Link|Vivid Money|vivid}}: €10 welcome bonus + up to €100 cashback