A current account (Girokonto) is a normal bank account for everyday use. Your salary is paid into this account. From this account you pay rent, electricity, internet and your mobile phone contract. In Germany, many payments are made by direct debit (Lastschrift). This means you allow a company to take the money from your account itself. Without a current account, this is difficult. That is why you should open an account early. Almost everyone who lives and works in Germany needs their own account. The good news: it also works without Schufa. Schufa is a private company. It collects data on whether people pay their bills and loans.
What you need
- Valid passport or ID card (Personalausweis). The bank has to check who you are.
- Residence permit (Aufenthaltstitel) if you are not from the EU. This is the document that shows you are allowed to live in Germany. Some banks ask for it. Read more under Sorting out your residence permit.
- Registration certificate (Meldebescheinigung). This confirms that you have registered your home with the authorities. You get it at the citizens' office (Bürgeramt). Many banks want to see it. To learn how registration works, read Registering your address.
- Tax ID (Steuer-ID). This is your personal tax number in Germany. Banks often ask for it. Read more under Getting your tax ID.
- An address in Germany where you can receive post. The bank usually sends your card and your PIN by letter.
- Mobile number and email address. This is especially important if you open an account online.
- Smartphone or computer with a camera if you confirm your identity online.
Step by step
- Think about what matters to you. Would you like to go to a branch and talk to a person? Or would you like to do everything online? Do you often need cash? Do you need an app in English?
- Compare accounts. Look at the monthly fees, the cost of the card and the cost of withdrawing cash at ATMs. Some accounts are only free under certain conditions, for example if a certain amount is paid into the account every month. You can compare current accounts at the bottom of this page.
- Submit your application. You can do this at a branch or online with a form.
- Confirm your identity. At the branch, you show your ID card or passport. Online, there is often video identification. You hold your document up to the camera during a short video call. Some banks also offer an identity check at a post office.
- Read the contract. Before you sign, the bank must give you an overview of the costs. Ask if there is anything you do not understand. Only then sign.
- Wait for the post. You will receive your account details, your bank card and your PIN. The PIN usually comes in a separate letter.
- Set up online banking. This lets you see your account on the internet or in an app and transfer money.
- Share your IBAN. The IBAN is your account number. In Germany it starts with DE. Give it to your employer, your landlord, your health insurance fund (Krankenkasse) and the family benefits office (Familienkasse) if you apply for child benefit (Kindergeld).
Costs and deadlines
Costs are different at every bank. There are accounts with no monthly fee and accounts with a fee. Cards, paper transfers and cash withdrawals at ATMs can also cost extra. So read the cost overview carefully.
Some accounts come with an overdraft facility (Dispositionskredit), or Dispo for short. This means you may spend more money than you have in the account, up to a limit. You pay interest for this, and it is often high. New customers without an income in Germany often do not get an overdraft at first.
For the basic account (Basiskonto), the law says the fees must be reasonable. There is no fixed amount.
There is no legal deadline by which you must have an account. However, your employer needs your IBAN before your first salary payment. If you apply for a basic account, the bank must decide within ten business days after it has received all documents.
Common problems for newcomers
You do not have a Schufa record yet
If you are new to Germany, you usually do not have any data with Schufa yet. Many banks will still open an account, often without an overdraft and without a credit card. You can also apply for a basic account. An account will help you build a good Schufa record later. Read more under Understanding and building your Schufa.
You do not have a registered address yet
Many banks want to see a registration certificate. Ask the bank beforehand exactly which documents it needs. Some banks are more flexible here. The right to a basic account also applies to people without a fixed address. Still, register your home as soon as possible. The rules for registration may differ slightly from city to city. Your citizens' office can give you information.
You speak little German
Some banks have apps and websites in English. At a branch, you can ask whether someone speaks your language. You can also bring someone along to translate for you. Do not sign anything you do not understand.
You do not have a tax ID yet
The tax ID is sent to you by post after you register. Ask your bank whether you can provide the number later.
The bank rejects your application
Then ask for a basic account. If the bank also rejects the basic account, it must tell you in writing and give a reason. You can then file a complaint with BaFin. BaFin is the government authority that supervises banks in Germany.
Frequently asked questions
What is a basic account?
A basic account is a simple current account. Everyone who is legally resident in the EU has a right to one. This also applies to asylum seekers and people with a Duldung. A Duldung is a certificate stating that a person will temporarily not be deported. Banks may not refuse a basic account because of a missing or bad Schufa record. A basic account does not come with an overdraft.
Can I keep using my account from my home country?
If your account is in a country that makes euro payments in the SEPA system, you can often keep using it. In practice, though, a German account is usually easier. Accounts outside the euro area often involve costs for currency exchange and transfers.
Do I need a credit card?
No. For everyday life, the bank card that comes with your account is usually enough. You can use it to pay in shops and withdraw cash. The money is taken directly from your account.
Can I share an account with my partner?
Yes. Many banks offer a joint account. Both people have to show ID and sign the contract.
How long does opening an account take?
It depends on the bank. Allow some time, because the card and PIN come by post. It is best to open the account before your first salary arrives.