The most important facts summarized
- You have the choice of opening your account with a traditional or a more digital bank. It is usually worthwhile for expats to open an account with a digital bank.
- N26 and Revolut are particularly popular banks for expats. You don’t need to register (Meldebescheinigung) to open an account here.
How to open a German Bank Account
When you move to Germany, you will need a bank account to make payments such as rent, salary and bills. You can either open your account at a traditional German bank or at a more digital, expat-friendly bank. Let’s take a closer look at both:
Traditional banks
If you’re looking to open an account with a traditional German bank, it’s important to understand the different account types they offer. German banks typically offer the following account types:
Current account – This is the main account for transactions, also known as a current account in other countries. It allows you to pay bills, receive salaries and withdraw money.
Call money account – This is an account where you earn interest on your savings while still being able to access your money quickly and easily.
Savings account – This is a restricted account, which means you may have limits on how often you can withdraw money or a notice period for withdrawals. It often offers higher interest rates compared to a current account or call money account.
Stock deposit – This is a securities account used for buying and selling shares, bonds and other securities. It allows you to invest in the financial markets and manage your investments.
If you want to open an account with a traditional German bank such as Deutsche Bank, ING-DiBa, Commerzbank or Postbank, non-residents usually need to provide several documents:
- The completed application form
- Valid passport or identity card
- Proof of residence (may be required both inside and outside Germany)
- Certificate of registration in Germany (Anmeldung), if applicable
- Pay slip (depending on account type)
- For opening a business account – company documents
- In some cases, a visa or residence permit
If you are considering opening an account with a traditional German bank, you should bear in mind that different banks may have different fees, such as account maintenance fees or fees for transfers outside Europe. To make sure you get the best deal, compare the options before making your decision.
Digital banks
Alternatively, you can also consider banking options such as N26 and Revolut, the so-called neo-banks / digital banks. The account opening process is usually quick and easy, and all you need is your smartphone and ID. Account management fees are usually not charged here! What’s more, staff here often speak good English.
Digital banks are also fully-fledged banks and offer you all functions such as money transfers, card payments and ATM withdrawals; the biggest difference is often that these banks do not have branches. Digital banks are particularly popular with expats, travelers and people who frequently do business or make cross-border purchases.
Many banks require a certificate of registration. You will only receive this after you have found an apartment and registered your address. If you have just moved to Germany, this is not yet possible. With our recommendations, you do not need to register to open an account:
N26
To open an account with N26, simply download the mobile app and follow the instructions. You’ll need to enter your personal details such as name, email and date of birth and choose a password. Then verify your identity by scanning your ID or passport in the app. As soon as this is done, the N26 credit card will be sent to you by post.
In detail: How to open an account with N26
- Download the N26 app: Download the N26 app to your smartphone.
- Enter your personal details: Enter your name (as on your ID or passport), your email address and your date of birth.
- Select the name on the card: Choose the name you want on your card.
- Enter address: Enter your current home address.
- Specify nationality: Enter your nationality(ies).
- Answer questions: Answer some verification questions.
- Choose password: Choose a secure password.
- Verify personal information: Check your entered data again.
- Agree to terms and conditions: Agree to the general terms and conditions.
- Create account: Create your account.
- Verify your identity: You must verify your identity with your ID or passport. This is done by scanning the document in the app.
- Receive your credit card: Your N26 credit card will then be sent to you by post.
Revolut
Opening an account with Revolut is similar to opening an account with N26. After downloading the app, you enter your phone number and verify your account with a six-digit code. Then you enter your personal details and verify your identity by taking photos of your ID and face. Finally, you choose a plan for your account and your Revolut credit card is sent to you by post.
In detail: How to open an account with Revolut
- Download the Revolut app: Download the Revolut app to your smartphone.
- Enter your phone number: Enter your phone number.
- Receive verification code: You will receive a six-digit code to verify your account.
- Enter your personal details: Enter your personal information.
- Verify identity: You must take a live photo of a valid official document and a live photo of your face.
- Select plan: Choose your plan (there is also a free plan).
- Get credit card: Your Revolut credit card will then be sent to you by post.
Conclusion - Which bank should I choose?
The best banks for foreigners are N26 and Revolut. Many of us use N26 ourselves and can recommend it. Revolut is also great, but they have a low free withdrawal limit and no German IBAN (but this is not a problem in 99% of cases).
None of these banks will give you a Girocard. If you need one, C24 is a good option, but they only speak German.
If you can’t open an account anywhere, Revolut accepts the most people of all the banks.
The best German speaking bank is C24. DKB and ING are also great, but they often don’t accept recent immigrants.
The most important questions
What documents do I need to open a German bank account?
To open a German bank account, you usually need the following documents:
- A valid passport or identity card
- Proof of residence (such as a registration certificate or a rental agreement)
- A payslip or an employment contract (depending on the account type)
- In some cases, a visa or residence permit
Can I open a bank account before I have a registration certificate?
Many traditional banks require a registration certificate to open an account. However, some digital banks such as N26 and Revolut offer the option of opening an account without a registration certificate.
How long does it take to open a bank account in Germany?
The duration can vary. With digital banks such as N26 or Revolut, opening an account can take just a few minutes. With traditional banks, it can take several days to weeks, depending on how quickly you submit all the required documents and your application is processed.
Can I open a German bank account from abroad?
Some digital banks like N26 and Revolut allow you to open an account from abroad before you move to Germany. Traditional banks usually require you to visit a branch in Germany in person.
