How to open a bank account in Germany
A simple step-by-step guide on how to open a bank account in Germany. Open an online Germany bank account and documents required to open a German Bank account
Read MoreEnglish Information about Banking in Germany
For an international student, one of the first things to do will be opening a checking / current bank account (Girokonto) in Germany, that is if you haven’t opened one already from your home country.
Some embassies require that the student open a blocked account (sperrkonto), which you can do at Deutsche Bank, Fintiba or X-patrio. Click here for detailed information on how to open a blocked students bank account and comparison of different blocked account. Even if you already have a blocked account, it would advantageous to open another checking bank account (Girokonto) for the daily transaction. This is because it is free of charge and there are added advantages or benefits provided for a student which you may be missing out on in your Deutsche bank blocked account Sperrkonto.
Age: Some banks provide a bank account for students only under a certain age (e.g under 18, under 27, etc.). Therefore, make sure you qualify as a student for the bank. Also note that if you are doing an internship or under training but still registered with a university, you will be considered as trainee student and most banks provide the same benefits as for students.
Benefits / Bonus: Some Banks provided added benefits for students, such as a free VISA credit card, or joining bonus as cash benefits. Keep a lookout for joining bonus offers.
Cost: Even though most of the banks provide a free bank account for students and trainees, there may some banks which has some hidden costs such as transaction charges or withdrawal fees. Always read the fine print or look out for such charges. Most of the banks will charge you account fees once you are no longer a student. Therefore, make sure you cancel the bank account once you finish your studies or see if they have other conditions for a free account (e.g. deposit a regular monthly salary).
Cards: All the banks provide a Geldkarte (ATM Card) and most of them provide an EC/Maestro Card. However, some bank also provides a VISA or MASTERCARD Credit card for students which is very useful since you can make online purchases from websites.
Below is a list of best banks for students which provide added benefits. All the listed bank account are free for students in Germany.
This is probably the best bank account for international students because it is entirely in English, starting from applying online in English, English video verification to using the bank account on an English language mobile and web app. The fully online bank N26 (formerly called Number 26) provides the most modern facilities and also provides a free bank account. This account also provides a free credit card (Prepaid Card) along with the account. Therefore, this is the easiest and the best option for someone new in Germany. Read more why it is the best account for a newcomer foreigner in Germany.
The current account of N26 is a modern free bank account which is subject to German deposit insurance. The N26 account is also called the smartphone account as it allows the use of the account only if you have a smartphone.
Advantages of N26 bank account for students
Problems with the N26 bank account
DeutscheBank is the most well known and most used account by students, mainly because they have English speaking customer service and a fast opening of the account. However, it does not give added advantages to the above bank accounts. Since it has branches in all cities, you can verify your identity at the bank branch closest to you. So, if you cannot open an online account because your passport is not accepted for PostIdent, this is the best option for international students.
Advantages
Disadvantages
Apply for DeutscheBank Students bank account
This is arguably the best bank account, both for student and non-students since it is always free irrespective of your student status. Therefore, you can still maintain the bank account after you have completed your studies. It provides a free VISA credit card with free cash withdrawals anywhere in the world. Therefore, you can have a Euro currency bank account even after you leave Germany. In case you still have money left on your bank account, you also earn a decent interest (higher than most checking account) on your balance on the VISA card. Unfortunately,
Features of DKB Cash bank account for students:
Some Disadvantages
Postbank also provides a good service bank account and is free for students of any age. What makes it interesting is the joining bonus for new customers. Earlier they had Postbank offers Happy Hour offers which provides various added benefits such as cash bonus for account opening, Free VISA card etc. when you open an account online at particular times (e.g. from 6pm to 8pm, or 8pm to 8am or on all day on weekends etc,). For the latest happy hour offer, check here.
Features of Postbank Giro Plus bank account for students are
Check the detailed step by step instruction with screenshots and English translation for opening a Postbank Giro plus account online for students.
To read more and open a Postbank Giro Plus for students click here
For students between 18 and 27 years of age, Volkswagen bank provides a girokonto with the following services
To read more about Volkswagen Young Giro students account click here
1822 Direkt is an online bank with an always free bank account and provides added benefits for student account for students aged 22 to 26.
Features of 1822Direkt Girokonto Studenten bank account for students
To read more and open a 1822Direkt Girokonto Studenten account for students click here.
Commerzbank is one of the big banks with branches and not a direct internet bank, therefore, you will always have a bank branch to go in case you need assistance. Moreover, it one of the few websites with provides English language service by provides English language online banking website.
Features of Commerzbank startkonto bank account for students are
To read more and open Commerzbank startkonto bank account for students click here
Formerly Citibank, this bank also provides with an online banking website as well as a bank branch.
Features of Targobank starter-konto bank account for students are
To read more and open a Targobank Starter-Konto for students click here
ING DiBa provides a free bank account for everyone including students. Therefore, there is no added benefits for students. However, it provides all facilities required by a student and therefore recommended.
Features of ING DiBa Girokonto Student bank account for students are
Read more about ING DiBa Bank here
It provides a free bank account for all users. There is no separate account or added benefits for a student. However, the facilities provided are more than adequate for a student and therefore recommended.
Features of ComDirect Girokonto bank account for students are
Read more about ComDirect Bank here or apply online now
It provides a free bank account for all users. There is no separate account or added benefits for a student. However, the facilities provided are more than adequate for a student and therefore recommended.
To read more and open a Netbank Girokonto for students click here.
Aimed at international students moving abroad, Transferwise Borderless account provides free Euro Bank account with IBAN details.
Using this bank account, you can spend or receive money for free, in that currency, just like you would with a local account.
You can sign up and get verified online, all without a local address or visiting a branch. Additionally, you can also get a free US, UK, Australia, and New Zealand Bank account based on what currency you need to use.
You can also get a Mastercard debit card if you are a German resident. Using the debit card you can spend in the currency of your bank account free of charge, and withdraw cash up to €200 free of charge.
Apply now for a Transferwise Borderless Bank Account
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Valid till March 31, 2016- open a free Commerzbank account and get upto €175 euro as cash bonus and 11,000 award miles from Miles and More till March 31, 2016
Now open to residents of Greece, Spain, Slovakia, France and Ireland. Open a free German bank account with free MasterCard.
Valid on weekends till further notice- open a free Commerzbank account and get €100 euro as cash bonus and 7,000 award miles from Miles and More till December 31, 2015
A simple step-by-step guide on how to open a bank account in Germany. Open an online Germany bank account and documents required to open a German Bank account
Read MoreApplying for a student Visa, au pair or Jobseekers Visa? You need a blocked account. Guide with a comparison between Fintiba, X-patrio or Deutsche Bank blocked account and process what is a blocked account and how to open a student blocked account from your home country.
Read MoreList of credit card providers with free credit cards in Germany. Advantages of each free credit cards and compare the charges and information about the free credit card in Germany.
Free Credit CardsThe Advanzia bank Free Mastercard Gold credit card offers a lifetime free Credit card with free foreign usage without any transaction charges, Mastercard Gold benefits including free travel insurance, and best option for students and expat new in Germany.
Read more!Special Offer, only for our readers: Apply before 30.Nov.2020 and get joining bonus of €25. Free Credit Card with travel insurance, also for international students.
Apply for Free credit card before 19 April 2015 and get joining bonus of €30. Free Credit Card with Instant online approval, transfer to bank account from credit card and cash back offers.
Apply by Sept 30, 2014 and get €25 joining bonus. Lifetime Free Credit Card with joining bonus.
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What a helpful guide! Wish I had seen this when I first came to Germany. I had no idea there were so many banks in Germany, let alone banks offering free accounts for students. 🙂
I have applied for Deutsch Bank Blocked Account since two weeks by German embassy OMAN .Still i have not recieved any answer.
Is Sutor Bank a reliable bank for a blocked account? I am opening through Fintiba. Please advise.
yes, 2 of my friends did the process its reliable and better then Kotak bank
same here i need to know about the fintiba too .
Update your info.
The cheapest Postbank Girokonto costs 1.9€/month!
i want to open an blocked account in Fintiba, doe it allwed by german consulates and embassy?
Will be running a full review on Fintiba shortly. From quick review official website of German embassy in India and Pakistan list Fintiba as accepted bank account.
Pakistan – http://www.pakistan.diplo.de/Vertretung/pakistan/en/06Legal/2__visa__longterm/2__Study__visa__Seite.html
India – http://www.india.diplo.de/contentblob/3589060/Daten/3726486/sperrkonto_neu.pdf
can US citizens open Fintiba blocked account?
Does Sparkasse bank also provide such opportunites
can i open DKB, N26, commerzbank, or deutsche bank account if i open my blocked account from Expatrio ? Please help me guide in a right way.
As i heard that Expatrio uses Monesse, but i dont wanna use it as it has hell lot of bad reviews. So is it possible creating a current account in banks mentioned above after opening blocked account from Xpatrio
Yes, please check the page on blocked accounts.
I have currently blocked an account in Deutsche Bank and quarterly I am paying 17 euro and some cents. I have started a mini job and I would like to change my bank to some other bank where I can have a savings account and get interest on my balance and option for a Fixed deposit. I have currently a sponsor so I don’t need to maintain a blocked account. Can any please suggest to me a bank too?
Thanking you in advance.