Difference between revisions of "Germany/Banking"
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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 [https://en.wikipedia.org/wiki/European_Economic_Area EU and EEA countries] can do that. | 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 [https://en.wikipedia.org/wiki/European_Economic_Area EU and EEA countries] can do that. | ||
− | However, some companies and authorities have '''problems using non-German account number''' ([https://en.wikipedia.org/wiki/International_Bank_Account_Number IBAN]). This is illegal but it may happen. Then, a [[# | + | However, some companies and authorities have '''problems using non-German account number''' ([https://en.wikipedia.org/wiki/International_Bank_Account_Number IBAN]). This is illegal but it may happen. Then, a [[#Banks_With_German_Account_Number_.28IBAN.29|German account]] is more convenient. |
− | === Which bank account can I use for my freelancing? === | + | === Which type of bank account can I use for my freelancing? === |
− | To receive income from freelancing or your business, you usually need a [[/Business|business bank | + | To receive income from freelancing or your business, you usually need a [[/Business|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? === | === Do I get interest on my money? === | ||
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* Some banks want to see your income and credit history. (E.g. {{Link|DKB|dkb}} is known to be picky.) | * Some banks want to see your income and credit history. (E.g. {{Link|DKB|dkb}} is known to be picky.) | ||
− | See also: [[#Bank | + | See also: [[#Bank Recommended for Foreigners|Bank Recommended for Foreigners]]. |
− | === Which bank | + | === Which bank is the best for me? === |
− | A bank | + | A bank that |
− | * speaks [[# | + | * speaks [[#Banks_With_English_Support|your language]]. There many offers with support in English or even more languages. |
− | * has [[# | + | * has [[#Banks_With_Free_Cash_Withdrawals|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 [[# | + | * has [[#Banks_With_No_Monthly_Fees|no monthly fees]]. There are so many banks even without fees, so you don't need to pick one that costs money. |
* lets you [[#Bank_Accounts_Recommended_for_Foreigners|sign up with our documents]]. If you don't have an registered address (''Anmeldung'') yet, this can be difficult. | * lets you [[#Bank_Accounts_Recommended_for_Foreigners|sign up with our documents]]. If you don't have an registered address (''Anmeldung'') yet, this can be difficult. | ||
− | See also: [[# | + | See also: [[#Banks Recommended for Foreigners|Banks Recommended for Foreigners]]. |
− | == Lists of ( | + | == Lists of Banks for Individuals (''Girokonto'') == |
<div id="support-en"/> | <div id="support-en"/> | ||
− | === | + | === Banks With English Support === |
* {{Link|Bunq|bunq}}, speaks also: Dutch, French, Italian, Portuguese, Spanish | * {{Link|Bunq|bunq}}, speaks also: Dutch, French, Italian, Portuguese, Spanish | ||
* {{Link|Commerzbank|commerzbank}} (online banking, after signup) | * {{Link|Commerzbank|commerzbank}} (online banking, after signup) | ||
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<div id="iban-de"/> | <div id="iban-de"/> | ||
− | === | + | === Banks With German Account Number (IBAN) === |
* {{Link|1822direkt|1822direkt}} | * {{Link|1822direkt|1822direkt}} | ||
* {{Link|comdirect|comdirect}} | * {{Link|comdirect|comdirect}} | ||
Line 85: | Line 85: | ||
<div id="no_monthly_fees"/> | <div id="no_monthly_fees"/> | ||
− | === | + | === Banks With No Monthly Fees === |
* {{Link|DKB|dkb}} | * {{Link|DKB|dkb}} | ||
* {{Link|Insha|insha}} | * {{Link|Insha|insha}} | ||
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<div id="free_cash_withdrawals"/> | <div id="free_cash_withdrawals"/> | ||
− | === | + | === Banks With Free Cash Withdrawals === |
==== … at all bank machines worldwide ==== | ==== … at all bank machines worldwide ==== | ||
Line 149: | Line 149: | ||
<div id="currencies"/> | <div id="currencies"/> | ||
− | === | + | === Banks With Multiple Currencies === |
* {{Link|Bunq|bunq}}: [https://together.bunq.com/d/45414-local-currencies/4 more info] | * {{Link|Bunq|bunq}}: [https://together.bunq.com/d/45414-local-currencies/4 more info] | ||
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<div id="broker"/> | <div id="broker"/> | ||
− | === | + | === Banks With A Broker === |
These accounts allow you to trade shares and funds / ETFs. The term in German is usually ''Depot''. | These accounts allow you to trade shares and funds / ETFs. The term in German is usually ''Depot''. | ||
Line 175: | Line 175: | ||
<div id="crypto"/> | <div id="crypto"/> | ||
− | === | + | === Banks With Crypto Currencies === |
These accounts allow you to trade '''Bitcoin''' etc. | These accounts allow you to trade '''Bitcoin''' etc. | ||
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<div id="bonuses"/> | <div id="bonuses"/> | ||
− | === | + | === Banks With Bonuses === |
These accounts will pay you for signing up. | These accounts will pay you for signing up. | ||
Line 194: | Line 194: | ||
<div id="comparisons"/> | <div id="comparisons"/> | ||
− | == Comparisons of | + | == Comparisons of Banks == |
− | These finance services compare current | + | These finance services compare current banks on the market and let you filter the list by specific features: |
− | === | + | === Banks for Individuals Compared === |
− | * [[/Comparison|Bank | + | * [[/Comparison|Bank Comparison on ExpatWiki]] |
* [https://vergleiche.financequality.net/12857/22391/ Accounts compared by FinanceQuality]* | * [https://vergleiche.financequality.net/12857/22391/ Accounts compared by FinanceQuality]* | ||
− | === | + | === Banks for Students Compared === |
− | * [[/Students|Student Bank | + | * [[/Students|Student Bank Account Options Compared]] |
<div id="recommended"/> | <div id="recommended"/> | ||
− | == | + | == Banks Recommended for Foreigners == |
All listed banks also accept non-Germans. But some make it easier than others. | All listed banks also accept non-Germans. But some make it easier than others. | ||
− | + | Banks suitable for expats: | |
* have support in English (or even more languages) | * have support in English (or even more languages) | ||
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* accept many foreign passports and identity cards for opening | * accept many foreign passports and identity cards for opening | ||
− | Recommended | + | Recommended banks for expats are: |
=== {{Link|Vivid Money|vivid}} === | === {{Link|Vivid Money|vivid}} === |
Revision as of 15:37, 8 February 2022
When living in Germany, having a German Bank Account (or a Euro currency 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). The list may not be complete, so feel free to add missing banks.
For other account types, see
Frequently Asked Questions (FAQ)
What is a German bank account?
In this article, German bank account means an account that has 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 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.
Which type of bank account can I use for my freelancing?
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.
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 is known to be picky.)
See also: Bank Recommended for Foreigners.
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
- 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
Banks With German Account Number (IBAN)
Banks With No Monthly Fees
- DKB
- Insha
- Lydia (free plan with limited features)
- Monese (Starter plan)
- N26
- Nuri
- Revolut
- Vivid Money
- Wise
- Yuh
… 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
Banks With Free Cash Withdrawals
… at all bank machines worldwide
- Bunq: 4 per month are free
- DKB: minimum €50 per withdrawal
- Nuri: more info
- O2 Banking: 3 per month free more info
- Revolut: 200 EUR / 5 per month are free
- Wise: 200 EUR / 2 per month are free
… at all bank machines in EEA
… at bank machines of the bank's network
- 1822direkt: 4 per month at Sparkasse group bank machines
- Commerzbank: unlimited at Cash Group bank machines
- Norisbank: unlimited at Cash Group bank machines
…at shops
Some banks cooperate with shops: You can go to the checkout of a branch and withdraw money from your bank account, using your card. There are 2 systems:
- Cash-Back (do not confuse with Cashback): you need to spend a minimum amount at the shop
- Viacash / Barzahlen.de: here you don't even need to buy something
Cash-Back
Viacash
Banks 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
Banks With A Broker
These accounts allow you to trade shares and funds / ETFs. The term in German is usually Depot.
- 1822direkt: more info
- Commerzbank: more info
- comdirect more info
- DKB: more info
- ING: more info
- Norisbank: more info
- O2 Banking: more info
- Revolut: more info
- Vivid Money: more info
- Yuh: more info
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 (conditions)
- Commerzbank: €50 welcome bonus if you send or receive 5 payments per month of min. €25 (salary, providers etc.) and agree to sales calls (conditions)
- Norisbank: €50 welcome bonus if you use their account switching service (more info)
- Vivid Money: €20 welcome bonus + up to €90 cashback, if you top up and spend €20 within the first 90 days
Comparisons of Banks
These finance services compare current banks on the market and let you filter the list by specific features:
Banks for Individuals Compared
Banks for Students Compared
Banks Recommended for Foreigners
All listed banks also accept non-Germans. But some make it easier than others.
Banks 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 banks for expats are:
Vivid Money
- accepts many documents
- support in 5 languages
- free / no monthly fees
- free Visa debit card if topped up with €200
- IBAN from Germany 🇩🇪
- €20 signup + €70 Cashback bonus via this link
Revolut
- accepts many documents
- support in 24 languages
- free / no monthly fees
- Visa debit card for €5.99 one-time delivery fee
- IBAN from Lithuania 🇱🇹
Wise
- accepts many documents
- support in 13 languages
- free / no monthly fees
- Mastercard debit card for €8 one-time delivery fee
- IBAN from Belgium 🇧🇪