bank account in germany – The Guide for 2023

 bank account In Germany

how do I create a bank account? We outline the factors you should think about before creating an account.

Bank account in germany
Bank account in germany


If you intend to stay in Germany for an extended amount of time, such as to rent an apartment and have your paycheck deposited, you will need a German bank account (Girokonto; current account).

Establish a bank account

A valid passport, a residency permit, a certificate of registration, and a wage statement are often required to open a bank account (depending on the type of account).

Please be aware that various banks may have different costs, such as those for managing accounts or sending money to banks outside of Europe. So, it is advisable to contrast several banks before selecting one.

Banking online

Many people use internet banking to carry out their financial operations. Both a branch bank and a direct bank (available solely online) allow for this. You may obtain personalized assistance and deposit money directly into your account at a branch bank. You can’t visit a bank branch directly with a direct bank; your only options are online and via phone. But, in many situations, a direct bank account could be less expensive.

No-cash payment

The majority of stores accept cash, debit, and credit card payments. Several smaller food establishments, such as those at the weekly market or the bakery, only accept cash; EC cards (electronic cash cards) are only accepted for purchases up to a specific amount at other establishments. You may send money when you purchase online using a credit card, an instant bank transfer, Giropay, or PayPal.


Short Facts
Company local bank account requirements (Yes/No) Yes
Mandatory residence requirement Not in all cases
Bank account opening time  Approximately 3 working days
Online bank account opening Bank-dependent
Bank accounts for foreign nationals in Germany Yes
Required documents – companies showing your company’s registration
Business records
appointee, director, or administrator with a valid ID
Further papers that the bank may require
Required documents – individuals Passport/ID
Valid residence permit in most cases
Proof of income/employment
Other documents as requested by the bank/per the applicant’s particular situation
Special requirements for foreign nationals Proof of financial history may be needed in some cases
EU nationals can be subject to different requirements compared to non-EU applicants
Bank fees Monthly fees can start at 3€
Banks can have offers for no monthly fees based on age or minimum monthly deposits
Mandatory initial deposit Bank-dependent
Types of accounts Current account
Current account for pupils or students
Savings account
Corporate account
Other banking and financial solutions
Online banking options Payment and transfer options
Financial management tools
Apple Pay and Android mobile payment
Others, bank-dependent
Local agent requirements Not necessarily; reccomended in some cases
Main banks in Germany Deutsche Bank
DZ Bank
KfW Group
Unicredit Bank and others
Criteria for choosing the bank Account management fees
Branch and ATM distribution
Mobile banking option
English support
Other costs and/or offers


Related Articles

Sorry, delete AdBlocks

Add Ban ads I wish to close them