How to Open a Bank Account in Germany

Opening a German bank account is one of the first practical steps you'll need to take when moving to Germany. You'll need it to receive your salary, pay rent, set up insurance, and handle everyday transactions.

The good news? While the process involves some paperwork, it's straightforward once you know what to expect.

Why You Need a German Bank Account

A German bank account is essential for:

While international cards work for some purchases, many German businesses prefer or require local bank transfers.

The German Banking System

Germany has several types of banks:

Types of Bank Accounts

Current Account (Girokonto)

The standard account for daily banking:

Savings Account (Sparkonto)

For setting money aside:

Digital/Mobile Accounts

Fully online banking:

What You'll Need to Open an Account

Required Documents

Additional Requirements for Some Banks

Step-by-Step: Opening Your Account

Option 1: In-Person at a Branch

1. Choose your bank — Research options and fees

2. Gather documents — Bring all required paperwork

3. Visit the branch — Some banks offer English service

4. Complete identity verification — Usually on-site

5. Receive your cards — Typically mailed within 1–2 weeks

Option 2: Online Application

1. Choose a digital bank — N26, DKB, ING, etc.

2. Start online application — Fill in personal details

3. Verify identity — Via video call (VideoIdent) or PostIdent at a post office

4. Receive confirmation — Often within 24–48 hours

5. Cards mailed — Or use virtual card immediately

SCHUFA: Germany's Credit System

SCHUFA (Schutzgemeinschaft für allgemeine Kreditsicherung) is Germany's main credit scoring agency.

If you're new to Germany with no SCHUFA history, consider starting with:

• Online banks (N26, Revolut)
• Banks specifically welcoming international customers

Factors to Consider When Choosing a Bank

Tips for International Residents

1. Consider a Digital Bank First

Online banks like N26 or DKB often:

• Have English interfaces
• Require fewer documents
• Open accounts faster
• Don't require SCHUFA

2. Keep Your Home Country Account Initially

Maintain your existing bank account while you establish in Germany. Useful for:

• Receiving payments from home
• Emergency access to funds
• Currency exchange flexibility

3. Multi-Currency Options

If you'll transfer money internationally, consider banks with multi-currency features (Wise, Revolut) to reduce fees.

4. Register Your Address First

Complete your Anmeldung (address registration) before applying for a bank account—most banks require this.

Common Challenges (and Solutions)

Getting Started

Opening a German bank account is a key step in settling into life here. With the right preparation and choice of bank, the process can be quick and painless.

At Stay, we help international residents navigate the practical aspects of life in Germany—including banking. If you'd like guidance, we're here to help.