How to Open a Bank Account in Germany in 2026

Opening a bank account in Germany is an important step toward settling into life in a new country. Whether you are a digital nomad, contract employee, expat, or entrepreneur, a German bank account is essential — for receiving your salary, paying rent, groceries and health insurance, and using European payment systems conveniently.

In this article, we explain what types of bank accounts are available in Germany and how to open one.

Previously, we covered medical insurance and finding a job for a student in Germany.

The Girokonto is the standard current account used for daily financial transactions. It is designed for regular payments and everyday operations such as withdrawing money, paying bills, and managing expenses.

For foreign nationals, a Girokonto is often linked to a Sperrkonto (blocked account), which is required when applying for a student visa to prove sufficient financial means. This allows the account holder to receive monthly payments from the “blocked” funds.

Basic services typically included with a Girokonto:

Almost every German bank issues a Girocard (debit card) free of charge with the account. In Germany, debit cards are significantly more popular than credit cards. You can usually receive the Girocard at the branch, or it will be sent by post if production takes longer.

The Sperrkonto is a special type of bank account required primarily for international students and applicants aiming for a certain visa in Germany. It serves as proof to the authorities that the applicant has sufficient financial means to support themselves in the country for at least one year.

The key feature of a Sperrkonto is that the deposited funds are blocked. The account holder does not have direct access to the full amount. Instead, a legally defined monthly sum can be withdrawn on a fixed date. In most cases, the bank or financial provider automatically transfers this amount to the linked Girokonto.

As of 2026, the monthly withdrawal limit is €992 per month, and €1,091 per month for holders of the Opportunity Card.

Depending on the type of visa you are applying for, the required deposit amount may vary. Always check the official requirements of the German Embassy or Consulate handling your application.

Important: A Sperrkonto does not replace a Girokonto. The blocked account cannot be used for everyday financial transactions (except for depositing additional funds in rare cases). Its sole purpose is to “freeze” living expenses for one year.

After arriving in Germany, you must open a Girokonto and link it to your Sperrkonto via the provider’s online portal. The monthly allowance will then be transferred to your main account, from which you can freely manage your money.

A Sperrkonto can be closed, for example, if your visa application is rejected. In such a case, the block must first be lifted based on official confirmation from the Embassy or Consulate. Once access is restored, the funds can be withdrawn and the account closed.

The Tagesgeldkonto is one of the most common financial products in Germany. It is a flexible savings account that allows you to deposit and withdraw money at any time.

The main purpose of a Tagesgeldkonto is to earn interest on your savings while keeping full access to your funds. Interest rates are typically around 3%, which is higher than traditional savings accounts. Another advantage is that banks usually do not charge fees for account maintenance or administration.

However, it is important to note that a Tagesgeldkonto is a separate savings account. It cannot be used for regular payments such as rent, subscriptions, or daily transactions.

The Festgeldkonto is a fixed-term deposit account designed for investment purposes. The customer and the bank agree on a fixed interest rate for a specified period, which can range from one month to several years.

Funds placed in a Festgeldkonto cannot be withdrawn before the agreed maturity date. This makes it suitable for short- to medium-term capital accumulation or as part of long-term financial planning, including retirement savings.

Unlike investments in stocks or precious metals, fixed-term deposits are not affected by market fluctuations. As a result, they are considered one of the safest ways to generate returns on savings. Deposits are also protected under the German deposit guarantee scheme up to €100,000 per customer per bank.

The documents required to open a German bank account depend on your nationality and residency status. As a rule, EU citizens are asked to provide fewer documents than non-EU nationals.

Foreigners planning to move to Germany usually have two options: opening an account before arrival or after settling in the country.

It is possible to open an account without physically being in Germany. This option is typically offered by digital banks and neobanks that operate entirely online and do not have physical branches.

Advantages:

Payments from a virtual account are usually made via Apple Pay or other NFC-based services, as issuing and delivering a physical card abroad can be complicated. This option is suitable for newcomers who are unsure how quickly they will complete their residence registration but want to start making payments right away.

Documents typically required by neobanks/online banks in the EU:

One potential drawback of virtual accounts is that they may not provide a German IBAN (DE). Instead, the account may have an IBAN starting with LT, IE, or ES. While most transactions within the EU work without issues, some services in Germany require a DE IBAN.

IBAN (International Bank Account Number) is a standardized international bank account code used for cross-border transfers. It is mandatory for international payments but not always necessary for regular domestic transactions such as rent.

This option is suitable for those who prefer traditional banks with physical branches. Many customers value face-to-face communication and in-person assistance. It is generally easier to open an account once you have secured permanent accommodation and completed the registration process.

Documents typically required by traditional German banks:

Some banks may additionally request:

Traditional banks in Germany are often associated with long-term stability and reliability. If you plan to stay in the country for an extended period, opening a local branch-based account may provide broader financial opportunities compared to a purely virtual solution.

Digital banking solutions are designed for speed and accessibility. Most of the application process with a neobank is completed entirely online and can take just a few minutes, although in some cases approval may take several days.

Step-by-step process:

Video identification (VideoIdent) is a remote verification method that allows banks to confirm a customer’s identity online without requiring a physical visit to a branch. During a live video call, a bank representative checks the authenticity of your identity document (for example, a passport).

Verification usually takes place via a video call with your camera turned on. You can use a smartphone, tablet, laptop, or desktop computer — either in a browser or directly in the banking app.

What You Need for VideoIdent:

If everything goes smoothly, the VideoIdent procedure can be completed within just a few minutes.

What Happens During the Process?

After successful verification, your account and card become available for use shortly afterward.

PostIdent is an identity verification procedure supported by Deutsche Post. It allows banks to confirm a customer’s identity when opening an account or purchasing prepaid cards.

You can complete PostIdent in three ways:

Preparing for and Completing PostIdent

1. At the post office

What to bring:

2. Via video chat

What to bring:

3. Via eID

What to bring:

Open the app and start verification using the link/QR code provided by the service provider. Enter your ID PIN and hold the document to your smartphone’s NFC reader. If no PIN was set up, create one during the process. Data is securely transmitted to the service provider.

If the PostIdent procedure is completed successfully, your bank account and card will become available for use shortly afterward.

Local bank branches typically require more documentation and a personal visit. Opening an account may take longer compared to digital banks.

Step-by-step process:

Traditional banks are usually preferred by foreigners planning to stay in Germany for a long period of time, as they offer broader services and in-person customer support.

Most neobanks do not offer blocked account services, as they are generally not accepted by German Embassies and Consulates as valid proof of financial means. Some traditional banks may provide Sperrkonto services, but availability should be confirmed in advance.

In practice, most applicants use specialized fintech providers such as Expatrio or Fintiba. These companies either open a new blocked account for you or block an existing account.

Step-by-step process:

The blocked account must be activated by:

Each month, the legally permitted amount will be automatically transferred from the blocked account to your regular account, allowing you to access your living funds.

Many German banks offer convenient accounts for foreigners. When choosing a bank, it is important to consider factors such as language support, availability of physical branches and ATMs nearby, account maintenance fees, and your personal service preferences.

The German market includes both traditional banks and innovative financial institutions. Modern digital banks often provide user-friendly apps, competitive pricing plans, and English-language support — features that are sometimes less common in traditional banking.

Language accessibility is especially important for expats. Many traditional German banks offer customer support in English. However, online banks often provide a more convenient experience overall. Their advantages typically include:

For newcomers who are not yet fluent in German, digital banks may feel more comfortable and accessible.

Foreigners should pay attention to common banking fees, such as:

Online banks often offer free basic accounts, while traditional banks usually charge a monthly maintenance fee.

When comparing banks, look not only at whether fees exist but also at their amount. Some banks waive monthly fees if you maintain a minimum regular income transfer.

Although Germany is steadily moving toward cashless payments, cash is still widely used — especially in restaurants and cafés./u>

For this reason, ATM availability can be an important factor. Some banks limit free withdrawals to their own ATM network or partner institutions. If access to cash is important to you, check how extensive the bank’s ATM network is./u>

If you prefer visiting physical branches and speaking to advisors in person, the following traditional banks may be suitable: Deutsche Bank, Commerzbank, Postbank. These institutions have extensive branch networks across Germany.

If you prefer managing finances entirely online, consider digital banks such as N26, Tomorrow, Bunq. They specialize in remote account management and digital financial services.

Freelancers in Germany are not legally required to open a separate business account. However, choosing a bank that supports self-employed clients can make financial management more organized.

One example is Kontist, a bank particularly oriented toward freelancers. It offers:

Such features help separate personal and business finances and simplify tax management.

Ultimately, the best bank depends on your residency status, employment type, financial habits, and long-term plans in Germany.

In most cases, a German bank account is required to:

Just like anywhere else, having a local account simplifies everyday financial operations.

If you already have a foreign bank account (Visa, Mastercard, American Express), you can use it temporarily after arrival. However, international transfers usually involve additional fees and currency conversion costs.

Even if all documents are submitted correctly, a bank has the right to decline your application. Common reasons include:

Even if all documents are submitted correctly, a bank has the right to decline your application. Common reasons include: No residence registration (Anmeldung). Banks require an official address for correspondence.

No long-term residence status. Many banks avoid opening accounts for short-term visitors (e.g., tourists staying only a few weeks). Insufficient proof of financial stability. Traditional banks prefer clients with a stable income source, employment contract, or confirmed financial means. Your credit rating (SCHUFA score) may also influence the decision.

Rent payments: When signing the rental contract, provide your landlord with your IBAN and BIC. You can then set up a standing order (Dauerauftrag) using a bank transfer form (Überweisungsformular) or via online banking.

Variable recurring payments (e.g., utilities): You may be asked to sign a SEPA direct debit authorization. In this case, you provide your IBAN and BIC, sign the document, and return it to the service provider. Unauthorized withdrawals can be disputed.

Most regular payments can also be managed through online banking or mobile apps. Make sure your phone number is active to receive authentication codes. Always monitor your account balance. If there are insufficient funds or you exceed your overdraft limit, the service provider may impose penalties.

Choosing the right account depends on your residency status, employment situation, and financial habits in Germany.

One of the main reasons foreigners move to Germany is to improve their quality of life — often not only for themselves, but also for family members who remain in their home country. However, even after understanding the German financial system and opening a local bank account, you may encounter high fees for international transfers between countries. In such cases, specialized money transfer services can offer a more convenient alternative.

The Korona app has been trusted for years by millions of satisfied users. It enables fast transfers to more than 60 countries worldwide. The process is simple and intuitive, thanks to a clean, user-friendly interface designed without unnecessary complexity. Users particularly value the speed and security of transfers made through Korona.

The app is available for download in the App Store and Google Play.

For several years, we have been publishing articles about life, work, and education in European countries on our blog. If you are interested in these topics, explore article catalog catalog to find more useful guides and insights.