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Without a German bank account, while living in Germany, you’re not going to get very far. However, the good news is that nowadays, it’s actually pretty simple to open up a bank account even without speaking German AND without even living in Germany yet. In fact, there are banks like N26 and tomorrow that run completely in the English language.
You’re going to need a German bank account before you’re able to pay your rent, register for a phone plan (although sometimes you can pay with a credit card), or register for an electricity or internet contract. You’re also going to need to find a way to get paid if you’ve moved to Germany for work. So, let’s get to it, shall we?
First, learn the lingo
When the Germans talk about a debit card/standard bank account, they often call it a Girokonto, EC-Karte, or Maestro (old terminology – Mastro no longer works in the EU).
Nonetheless, these are all bank accounts – they are not credit cards in any way, shape or form.
The Best Expat-Recommended Banks
You might already be well aware that you certainly aren’t limited by the number of choices you have when it comes to picking a banking provider here in Germany. There are thousands of different options, but only a few of those stand as smart options for expats and English speakers.
After asking our local and expat community on Facebook what they thought was the best bank for expats, we’ve put together a list of the best banks for you.
N26
N26 takes pride in the fact that it will literally only take you 8 minutes in total to open up a bank account with them online. It is one of the most popular mobile banks for expats in Europe and it is extremely easy to navigate via the app. The entire site is run in English and once you’re registered, all of your banking can be done straight from your phone or laptop.
Cost: FREE
Includes: FREE Maestro card and FREE Mastercard credit card
Withdrawing Money: You can withdraw money from any ATM up to 5 times/month for free and at more than 9,000 retail locations in Germany including shops like Penny, Real- and REWE.
wise bank
Can you recall the brand TransferWise? Yep. It’s one of the world’s largest money transfer sites out there that recently rebranded and is now “Wise”. Conveniently, they also now offers a free multi-currency bank card which is also open to Americans (and many other nationalities, of course).
If you already have a money transfer account with Wise (likely so), it’ll be as simple as ordering your debit card. If not, you’ll need to fill in a few details, send over proof of identification and you’re finished!
NOTE FOR AMERICANS: Due to FACTA (Foreign Account Tax Compliance Act), it may be the case that you will need to contact a number of these different banks first to see if you qualify. Wise Bank is one that DOES accept American users. FACTA allows the American government to track your tax activity as a foreigner living abroad in order to avoid tax fraud. This could impact whether or not you are accepted by a European bank. For more information, check out MyExpatTaxes blog post “The FACTA for Americans Abroad“.
With the wise debit card, you can hold, receive (get paid), send, and spend money in more than 50 different currencies.
Cost: FREE
Includes: An electronic money account & debit card
Kontist
Kontist makes things super simple for freelancers in Germany. Their app is available in German and English actually allows you the opportunity to eliminate the need to hire an accountant, which can save you tons of money each year. Kontist offers free business consultations for their members and is partnered with lexoffice to help you file your monthly and annual taxes online.
- Kontist calculates your income tax and VAT automatically so you’ll never lose track
- They offer bookkeeping on the go
- They make submitting taxes easier than you could ever imagine
Cost: FREE (premium memberships start at 9 Euros/month)
Includes: FREE Maestro Card and FREE Visa credit card
Withdrawing Money: You can withdraw money from any ATM and up to 10,000 Euros per month. There is a monthly limit of 50 cash withdrawals per month.
TIP: If you’re a freelancer looking for support filing your monthly/quarterly taxes, Accountable.de offers a super easy online program in English.
DKB – Deutsche Kredit Bank
Similar to N26, DKB is a completely online bank, but if you’re comfortable doing all of your banking completely online, DKB offers some of the cheapest rates and one of the best services for expats. While they do not offer their signup process in English, it is a relatively easy process to apply and a highly rated bank for locals and expats alike.
Cost: FREE
Includes: FREE EC-Card and FREE Visa credit card
Withdrawing Money: You can withdraw money from any ATM machine for FREE worldwide (great for expats looking for travel outside of Germany)
Comdirect
Almost exactly the same as DKB and N26, Comdirect is a completely online banking system which means there are no branches to actually visit in person. If you do not mind managing your account completely online, Comdirect is a great banking choice. They are well known for their easy application process which doesn’t demand many pre-requirements before registering, making it a much easier bank to apply to for expats. The application process is run in German, but with a little Google translate, you’ll be able to easily guide yourself through the application.
Cost: FREE
Includes: FREE Girocard and FREE Visa credit card + Signup bonus of up to 150 Euros
Withdrawing Money: You can withdraw money from over 9,000 bank machines across Germany at the following partner banks: Commerzbank, Deutsche Bank, HypoVereinsbank and Postbank, as well as at any Shell gas station or with 13,000 other partner shops around Germany
Commerzbank
Commerzbank was the only bank that made our list of top expat favorites that offers physical branches in Germany! That’s probably because it has constantly won numerous awards for being one of the best banks in Germany. So, if having a local branch is important to you, Commerzbank is a great choice.
Cost: FREE
Includes: FREE EC-Card + Signup bonus of 100 Euro (though this sale could end)
Withdrawing Money: You can withdraw money from any of the partner banks that are a part of the CashGroup: Commerzbank, Deutsche Bank, HypoVereinsbank, and Postbank
Other German Banks to Consider:
TIP: If you’re looking to transfer money to your new bank account, we have a list of the best options here >> The Best Options for International Money Transfers to/from Germany.
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Thank you so much for your advice. Commerzbank worked wonderfully to help me sign up for a German account here in Dortmund. Best wishes for a wonderful weekend!
That’s awesome to hear! ? I guess there is a reason the Germans voted Commerzbank as one of the best. ?
Have a wonderful weekend!
– Jenna
German citizen here. I went to Commerzbank in my hometown in December 2019 and asked them about opening an account with them. I mentioned I no longer live in Germany and they told me that it was not possible to open an account with them. What happened? Did I ask the wrong thing? Any help/advice would be appreciated. Thank you.
Hey there Claudia,
That’s a good question! As far as I know, there are no banks in Germany with a storefront location that allow customers who do not live in Germany to open up a bank account. This would include banks like Commerzbank, Deutsche Bank, Postbank, etc.
If you’d still like to keep a European bank account open, you are still allowed to open up an account at any of the direct banks. This would include banks like N26 or Bunq. Both are great options and are also super easy to sign up with.
PS: Regardless of what bank you’d like to sign up with, you will still need a European mailing address. An address from a family members or friend will also do.
I hope this helps! ?
All the best,
Jenna
Hi Jenna, What type of account from Commerz bank would you suggest for a salaried individual ?
The “Kostenloses Girokonto” is a great option!!
Hello Jenna,
I truly honpe you can give me some sort of advice. My son and I are American citizens (residing in Bremen) and we must renew our passports. This has never been a problem since we usually travelled to Berlin however with the pandemic we cannot travel to Berlin because we would have to over-night. We would like to send them through post office. Therefore the consulate has told us we need; “Cashier’s Check issued by a U.S. bank in dollars payable to “U.S. Department of State”. Or a Bank Check, or Counter check. Bank check issued by a German bank in dollars drawn on a U.S. bank. Here is the big problem: German banks do not issue checks, period. Do you know where we could get one of the aforementioned checks? I would really appreciate any information you could send.
Thanks in advance and have a good day.
Susan Backhaus
Hi there Susan,
I’m sorry I cannot be of more help as I have never experienced this issue myself, nor have I ever heard of anyone having the particular problem. It seems bizarre to me that they request this Cashier’s Check when they should also be fully aware that this is not possible in Germany. Do you have any bank accounts still in the USA? Or perhaps a friend? Would it work if they sent the check to the consulate under their name from the USA?
Best of luck!
– Jenna
Hello!
is it possible to open a checking bank account in Commerzbank for the persons with a resident permit?
Hi there Hamide,
Yes, this is possible! You will need to confirm your identity though. They usually ask for your passport from your home country. They will also likely have you prove that your location is indeed Germany (aka. you’ll need to submit proof of registration and a valid address).
Hi Jenna
Thanks for the bank review. With N26 I can see nothing about setting up Direct Debits. Standing Orders, yes. But nothing for monthly payments to utilities, credit card companies, etc with varying amounts. I am sure that N26 do this but confirmation before I sign up would be good.
Danke
Gary
Hey there Gary! Great question – I know that they do offer direct debits (you can find a little more info here: https://support.n26.com/en-eu/payments-transfers-and-withdrawals/direct-debits-and-standing-orders/will-my-direct-debit-go-through-if-im-low-on-funds). However, I actually just switched my bank from N26 to Vivid a couple of months ago so I’m not able to go into an N26 account and see the process of HOW exactly to set it up. I’d definitely suggest giving them a call before opening the account! 🙂
Hi Jenna
First of all, I’ll like to say KUDOS for the write-up. I think i prefer COMMERZBANK, please I’ll like to know if the Kostenloses Girokonto is a CURRENT or SAVINGS?
Secondly, must i show proof of employment? Will i be able to rent an apartment with it?
Thank you in advance.
Hi there Ernest,
Thanks so much! Commerzbank is also a great choice. It’s a little harder for English speakers to get comfortable with as the platform is run in German, but nonetheless, a fantastic bank! One thing to note is that here in Germany putting your money into a bank account is not going to earn you any interest in a savings account. Unlike many places like North America, you typically gain 0% on your money in the bank – current account. The solution to this would be to make investments elsewhere (ETFs, property, portfolios, etc.) I’m actually going to host a chat with a Financial Advisor here in Germany on my YouTube channel in the next few weeks so stay tuned!
Hi Jenna, I’m trying to get my pension funds from the uk, they only pay into uk accounts, do you know of a bank that’s in Germany and Uk that I can contact to get my funds, fluent in German as an ex serviceman who used to live and work in Germany and is back again
I have a Stadtsparksse account.
Thanks in advance Colin
Hi there Colin, that’s a good question! I think the way you might need to look at it is which UK bank accounts can be used internationally. From Germany, I would say your best options would be something like Vivid – you can have sub-accounts in different currencies which is great. However, it is a German IBAN number (as are all the others mentioned in this blog post). I would suggest asking your pension fund company if they’ll pay into an online account with a German IBAN number – but Vivid, for example, will accept the payment in pounds rather than Euros. Hope this helps!! (PS: I don’t share it on the blog post – but if you do open an account there, you can use my refer a friend code which gets you a free metal card and 40 Euros bonus: https://vivid.money/r/jennaPW8/
Hi Jenna, Thanks for the selection of banks but you leave out a big problem for US nationals. I was a customer of Commerzbank for around 25 years. I had a Girokonto, Sparkonto, and a Depot with them: then came FACTA. My Depot had to be liquidated and I could only use the Girokonto and the traditional Sparkonto. that was it. I changed to DKB with the understanding that I would have more financial options; however, that was just a Tagesgeldkonto. In spite of that, I am quite happy with DKB. Since I am a visual artist based in Germany I also use a Business account. I started using n26 this year and it is really good; but, because of FACTA, there is no possibility to use their savings account. Upon researching, I found this out from vivid money:
Hi David,
Thanks for contacting Vivid Support! My name is Sandra and I am happy to help you today.
We currently can’t offer accounts to customers that are liable to taxes in the US. I believe this is the case for all US nationals, no matter where they live or if they have a double nationality.
I’m sorry that this is the case and we hope to be able to offer this possibility in the future.
Please do let us know if you have any further questions.
Best wishes,
Your Vivid team ?
So that leaves bunq, no response as of yet for any options beyond a Girokonto.
To add the troubles I have run into restrictions at my US bank because I have an overseas address.
It is not too easy and quite limited thanks to FACTA. Still, thanks for your tips but US nations need to ask about FACTA issues.
David
Thanks, so much for the update David!! And I’m so sorry you’ve gone through such a crazy process trying to find the perfect bank as an American in Germany. This definitely needs to be addressed. I’ll add a note to the blog post mentioning this, but I also think this would be a good title for another blog post. Since you’ve gone through the full process, I wonder if you’d be interested in putting together guest post with us about this topic? If so, I’d love to chat! Send me an email at [email protected].
Best,
Jenna
Hi Jenna,
Hope all is good.
I am not sure why DKB made to the expat friendly list, they don’t offer English customer service, nor the online banking surface is available in English.
Plus, if they can’t answer your question directly, you need to write an email to them which takes days to respond. I would definitely not recommend them to expats, especially to those who don’t speak German
I understand the good price, however if you don’t speak German, they surely won’t speak English.
Hey there Gabor! This list is based on the top-rated banks for expats, voted on by expats in Düsseldorf themselves. Although, I entirely agree with you. I think they made the list because of the ease of banking and their great deals. I guess for expats who don’t mind (or perhaps even enjoy) the language barrier, it can actually be a good option. My husband in German and LOVES DKB, which I also understand. I personally have decided to switch all my service providers (banking, electricity, insurances, etc.) to English speaking ones (after 8 years of living here) simply because it saves me so much more time in life conversing in English (and funny enough, all are run in apps which makes it much easier to get support when needed). 🙂
Best,
Jenna
Yes, Vivid and N26 area really good banks for expats.
Maestro cards no longer exist in the EU? How old is this article? Wondering how much of it is outdated and no longer true.
Hey there Val, thanks for the update. As ofJuly 1, 2023 Maestro card is no longer used in Germany. I have been updating the banks, but must have missed this sentence!
Best,
Jenna