Germany has a well-developed banking system, and opening a bank account is an essential step for anyone planning to live, work, or study in the country.
Whether you’re an expat, student, or business professional, having a German bank account simplifies financial transactions, from receiving a salary to paying rent and utility bills. In this guide, we’ll walk you through the process of opening a bank account in Germany, the types of accounts available, the required documents, and tips to choose the right bank.
Why You Need a German Bank Account
Having a local bank account is crucial for managing daily finances. Many employers require a German IBAN (International Bank Account Number) to process salaries, and utility providers often prefer local accounts for direct debits. While some international banks operate in Germany, local banks typically offer better services tailored to residents, such as free SEPA transfers and local payment solutions.
Types of Bank Accounts in Germany
Before opening an account, it’s important to understand the different types of bank accounts available:
1. Girokonto (Current Account)
A Girokonto is the standard current account used for everyday transactions. It allows you to receive salaries, make payments, and set up direct debits for rent, insurance, and subscriptions. Most banks offer online banking, debit cards (EC-Karte), and sometimes free ATM withdrawals.
2. Sparbuch (Savings Account)
If you’re looking to save money, a Sparbuch might be a good option. It offers limited transactions but provides better interest rates than a current account. Savings accounts are often used for long-term savings or emergency funds.
3. Business Account (Geschäftskonto)
Freelancers and business owners need a Geschäftskonto, a specialized business account. This account is separate from personal banking and is required for tax and bookkeeping purposes.
4. Blocked Account (Sperrkonto) – for Visa Applicants
If you’re moving to Germany for studies or work and need a visa, you may be required to open a Sperrkonto. This „blocked account“ ensures that you have enough funds to support yourself and limits monthly withdrawals. Providers like Fintiba and Expatrio offer online options for this.
Requirements for Opening a Bank Account
To open a bank account in Germany, you typically need the following:
- Valid passport or national ID (for EU citizens)
- Residence registration (Meldebescheinigung) – Proof of address in Germany, obtained from the local registration office
- Visa or residence permit (if applicable)
- Proof of income or employment contract (for certain accounts)
- SCHUFA credit check – Some banks may check your credit history in Germany
How to Open a Bank Account
The process of opening a bank account varies depending on the bank and whether you apply online or in person. Here’s a step-by-step guide:
Step 1: Choose the Right Bank
Germany has several banking options, including:
- Traditional Banks: Deutsche Bank, Commerzbank, Sparkasse, Volksbank
- Direct/Online Banks: Bunq, N26, DKB, ING, Comdirect
- International Banks: HSBC, Santander
Traditional banks usually require in-person appointments, while online banks allow digital applications. If you prefer English-speaking support, consider online banks like Bunq, N26 or major international banks.
Step 2: Gather Your Documents
Before heading to the bank or applying online, make sure you have:
- Passport/ID
- Meldebescheinigung (proof of residence)
- Employment contract or university enrollment letter (if applicable)
Some banks may also require a SCHUFA credit check, which is not always necessary for new arrivals.
Step 3: Apply for the Account
- In-person at a bank branch: Schedule an appointment and bring your documents. A bank employee will assist you with filling out forms and verifying your identity.
- Online application: Many banks offer digital sign-up processes where you upload your documents and complete video identification.
Step 4: Identity Verification
- PostIdent: Some banks require verification through Deutsche Post. You’ll receive a form and need to visit a post office with your ID.
- VideoIdent: Online banks like N26 use a video call for identity verification. You’ll need a webcam and a valid ID.
Step 5: Receive Your Bank Details and Card
Once your application is approved, you’ll receive your IBAN (bank account number) and login details for online banking. Your debit card (EC-Karte) will be sent by mail separately.
Choosing the Best Bank for Expats
For expats, some banks offer better features than others. Here’s a comparison of some popular choices:
| Bank | Type | Monthly Fee | English Support | Online Application | Features |
|---|---|---|---|---|---|
| N26 | Online | Free | Yes | Yes | Mobile banking, free payments abroad |
| Bunq | Online | Free (if active) | Yes | Yes | Free worldwide withdrawals |
| Commerzbank | Traditional | €0-9.90 | Some branches | Yes | Good for expats with salary deposits |
| Deutsche Bank | Traditional | €6-10 | Yes | No | Good for international students and professionals |
If you need an English-friendly bank with an easy sign-up process, N26 and Bunq are great options. Commerzbank and Deutsche Bank are better choices for those who prefer a physical branch.
Common Challenges and Solutions
I don’t have a Meldebescheinigung yet. Can I still open an account?
Some online banks like N26 allow you to open an account without proof of address, making them a great option for new arrivals.
Can I open a German bank account from abroad?
Yes, some banks like Bunq, N26, DKB, and Fintiba allow non-residents to apply. However, traditional banks typically require in-person visits.
What if I have a bad SCHUFA score?
If you don’t have a German credit history yet or have a low score, you can still get a basic bank account (Basiskonto) that offers essential banking services without overdrafts.
Which banks offer accounts without fees?
Many online banks like Bunq, N26, DKB, and ING offer free accounts if certain conditions (like a minimum deposit) are met. Traditional banks often charge monthly fees.
