COMPARISON
Girokonto: the account everything in Germany runs through
Salary, rent, insurance, Kindergeld — everything in Germany flows through a Girokonto. Traditional banks want an appointment, an Anmeldung and German. Online banks open your account in 10–15 minutes via video identification with your passport — English interface, card by post.
How to open an account in your first days
- 1 Pick a bank: what matters at the start is an English app, free account management and opening without Anmeldung.
- 2 Complete video identification (VideoIdent) with your passport — 10 minutes in the app.
- 3 Your IBAN is issued immediately — give it to your employer and landlord right away.
- 4 The card arrives by post in 3–7 days. Add your Meldebescheinigung later if the bank asks.
Where to start
- N26 Banking
Online bank: account in minutes, full English interface.
- Wise Banking
International transfers and a multi-currency account at the real rate.
Deposit, first rent, contracts — your complete move-in budget in one minute.
Frequently asked questions
Can I open a German bank account without Anmeldung (address registration)?
Yes. Online banks (e.g. N26) open accounts with a passport and video identification — registration is not required at the start. Branch banks usually do require a Meldebescheinigung.
Will I get an account with no SCHUFA history?
Yes. As a newcomer you simply have no SCHUFA record — banks know this. A basic Girokonto is no problem; only credit products are hard at first.
What documents do newcomers need to open an account?
Minimum: your passport (for video identification). Some banks ask for your tax ID (Steuer-ID) — it can be added later — and a German address for card delivery; a friend's address works at first.
How is Wise different from a regular German bank?
Wise is a multi-currency account at the real exchange rate — ideal for moving your savings to Germany without conversion losses, and it gives you a German IBAN. Many use the combo: Wise for transfers + a German Girokonto for salary.
How much does a bank account cost in Germany?
Online banks: €0 for the basic account. Branch banks (Sparkasse, Volksbank): €5–12 per month. Check cash withdrawal terms: online banks typically include 3–5 free withdrawals a month.
Can my salary and Kindergeld go to a foreign bank account?
Formally yes — any SEPA account qualifies (IBAN discrimination is banned, Art. 9 SEPA Regulation). In practice employers and the Familienkasse process German IBANs faster, and some landlords explicitly ask for one.
What is Dispo and should I activate it?
Dispo is an arranged overdraft at 8–12% per year. Newcomers usually don't get it until a regular salary arrives — which is fine: it's expensive money, use it only as an emergency buffer.
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