Opening a bank account is one of the first things you need to do after moving to Germany, and it's easier than most people expect. You'll need it to receive your salary, pay rent, and set up all those direct debits (Lastschriften) that Germans love so much. The good news: several banks now let you open an account entirely online, sometimes before you even arrive.
What You Need to Open an Account
Requirements vary by bank, but most will ask for:
- Valid passport or ID card - your home country passport works fine
- Proof of address in Germany - your Anmeldung (city registration) confirmation, though some banks skip this
- German tax ID (Steuerliche Identifikationsnummer) - arrives by mail 2-4 weeks after Anmeldung, but you can open most accounts without it
Pro Tip: N26 and C24 let you open an account with just your passport and a video call. You don't need an Anmeldung first, which makes them perfect for your first week in Germany.
Best Banks for Expats
After testing the major options, here's what we recommend depending on your situation.
N26 - Best for Getting Started Fast
N26 is the go-to bank for most new expats. The app is fully in English, account opening takes about 8 minutes, and the standard account is completely free. You get a German IBAN, which is what landlords and employers need. The downsides: you can't deposit cash, free ATM withdrawals are limited to 3-5 per month, and there are no physical branches.
DKB - Best for Long-Term Banking
Once you're settled and your German is decent, DKB is hard to beat. Free Visa debit card with worldwide ATM withdrawals, solid online banking, and they've been around since 1990. The app is mostly in German, and account opening takes 1-2 weeks. Worth the wait if you plan to stay.
C24 - Best for Earning Interest
C24 offers up to 2.5% interest on your balance, which is remarkable for a free account. Their budgeting tools are genuinely useful. The catch: the app is German-only. If your German is at least B1, it's a strong pick.
Step-by-Step: Opening Your Account
- Choose your bank - N26 for speed and English, DKB for long-term, C24 for interest
- Download the app or go to the bank's website
- Start the application - enter your personal details, address, nationality, tax info
- Verify your identity - usually via video call (have your passport ready) or at a post office (PostIdent)
- Wait for confirmation - N26 is instant, others take 3-10 business days
- Receive your card - arrives by mail within 1-2 weeks
Common Mistakes to Avoid
Don't open a traditional bank account at Sparkasse or Volksbank unless you specifically need one. Their fees are 5-10 EUR per month, the apps are clunky, and you'll spend an hour at the branch. The only advantage is cash deposits, which direct banks don't support.
Also, don't wait too long. Your employer needs your IBAN for salary payment, and most landlords require a German bank account for rent transfers. Get this sorted in your first week.
Important: Germany still uses cash more than you'd expect. About 60% of transactions are cash-based. Consider keeping some cash on hand, especially for bakeries, small restaurants, and markets.
What About International Transfers?
If you need to send money home or receive transfers from abroad, your German bank will work but the fees can be brutal. SWIFT transfers through traditional banks cost 15-30 EUR per transaction. Use Wise (formerly TransferWise) instead. The exchange rates are mid-market rates and fees are typically under 1%. You can link it to your German bank account.
Next Steps
Once your bank account is open, you'll want to set up a few things quickly: give your IBAN to your employer, set up a Dauerauftrag (standing order) for rent, and register for online banking. From there, look into a second account for savings or investing. Trade Republic and Scalable Capital are popular for investing and offer competitive interest on cash balances.
