Opening a bank account (Girokonto) in Germany

There are traditional banks with branches such as Sparkasse, Volksbank, Commerzbank and Deutsche Bank, and online banks such as N26, ING, DKB and Consorsbank that are often free of monthly fees but have no branches.

• Compare monthly fees, card fees, ATM withdrawal fees, international transfers and cash withdrawals abroad, and the language service and app.
• A free current account is often possible with conditions such as a monthly salary.
• Someone whose legal status is unstable or who has no fixed address is entitled to a basic account, which has limited features but is enough for salary and rent.

You need a passport or ID card, a valid residence permit, the registration certificate (Meldebescheinigung) to prove your address, sometimes the tax number, and sometimes proof of income or an employment contract.

• You open the account at a branch by appointment or online with video verification (VideoIdent) or at the post office (PostIdent).
• It takes a short time until you receive your card and PIN by post at your registered address.
• If you do not yet have an address ask about solutions, as banks differ in flexibility.
• Make sure your name matches your passport in Latin letters on every document.

The most common card is the Girocard, used in shops and for withdrawals, with a four-digit PIN.

• Some banks issue a Visa or Mastercard that is accepted internationally and online.
• For transfers you use the IBAN, which starts with DE in Germany, and the BIC code.
• Transfers within Europe (SEPA) are quick and low-cost and sometimes free, and instant transfers exist.
• You can set up standing orders (Dauerauftrag) for monthly rent and direct debit mandates (Lastschriftmandat) for companies such as electricity and phone.
• Check the account statement regularly to spot unusual debits.

Do not give your PIN to anyone, do not write it on the card, and do not open emails or texts asking for your banking details (phishing) even if they seem to come from the bank.

• The bank does not ask for your password or verification code by phone or message.
• Activate two-factor authentication and a protected banking app and monitor transactions.
• If you receive a call claiming to be from the bank or the police, end it and call the official number yourself.
• Beware also of work-from-home offers that ask you to use your account to move money, which is money laundering and can lead to liability.

If you lose your card or it is stolen call the emergency number 116 116 at once to block the card (Sperr-Notruf), then tell your bank.

• You usually bear no losses after the block.
• If amounts were withdrawn without your permission ask for their return in writing straight away, since you have a fixed period.
• You can close the account with written notice, and check that standing orders and direct debits have been moved or cancelled before closing.
• You have the right to complain to the financial supervisory authority (BaFin) or the ombudsman office if the bank refuses a legitimate right.
• And do not delay reviewing bank fees, since conditions may change.

What does an IBAN in Germany start with?