How to Open a German Bank Account

Opening a bank account in Germany is generally straightforward. Germans value solid savings and good credit ratings, so they have streamlined the process to make it efficient.

Types of Accounts

First, you need to know what type of account you’re looking for. German banks offer the following types:

• Girokonto: Current account or checking account

• Tagesgeldkonto: Instant access savings account

• Sparkonto: Limited access savings account

• Depot: Securities account

For the purpose of this guide, let’s assume you’re looking for a Girokonto. This type of account provides you with an International Bank Account Number (IBAN), allows you to transfer money in and out, and comes with a bank card for purchases and ATM withdrawals.

Requirements for Opening a Girokonto

Before opening a bank account, you’ll need to meet certain requirements. Non-EU individuals must provide documentation such as proof of residency, or in some cases, a visa and proof of address are sufficient. Here’s what you need:

1. Passport: Your valid passport is essential.

2. German Visa: Required for non-EU nationals.

3. Proof of Enrollment or Employment: Documents showing you are enrolled in a university or employed in Germany.

4. Meldebescheinigung: This document confirms your German address and can be obtained by making an appointment at your local Bürgeramt (town or city hall).

5. Proof of Income: Some banks may ask for documentation showing a regular income, such as your last three pay slips.

Once you have these documents, you can proceed to open your bank account.

Opening a Girokonto

You can open a Girokonto by visiting a local branch or opting for an online bank.

Traditional Banks

1. Gather Your Documents: Ensure you have all the required documents listed above.

2. Visit a Local Bank Branch: Choose a bank such as Commerzbank if you prefer in-person service.

3. Complete Application Forms: Fill out the necessary forms provided by the bank.

4. Submit Your Documents: Present your documents to the bank staff for verification.

5. Wait for Approval: The bank will process your application and notify you once your account is set up.

Mobile Banks

1. Download the App: Install the app of a popular mobile bank like N26 or Bunq.

2. Submit Personal Details: Enter your personal information in the app.

3. Verify Your Identity: Use the app to submit your ID information.

4. Activate Your Account: Once your identity is verified, your account will be activated, often within minutes.

Note for Non-EU Nationals

Non-EU nationals may need to be residents in Germany to use certain mobile banking apps. EU residents can create accounts from abroad before moving to Germany, but Chinese, Indian, or US visitors should check the individual requirements of each bank.

Combining Mobile and Traditional Banking

Mobile banking isn’t the only option. Many arrivals prefer to visit a nearby bank branch to meet the staff and discuss their accounts. These accounts often offer more complex features like credit cards and overdrafts, which may suit self-employed workers and families. Commerzbank is a good choice for those who prefer traditional banking.

There's nothing to stop people from using both mobile banks and conventional banks. This approach is common among expatriates navigating Germany’s financial system.

By following these steps, you can easily open a bank account in Germany, choosing the method that best suits your needs.