Setting up a bank account in Germany is one of the primary things that an individual needs to do when preparing to live and work in Germany. A bank account is essential, since it enables individuals to undertake transactions such as: payroll processing and bill paying. Whether using a regular bank or online banking service, setting up an account will entail various processes.
| Quick Facts | |
|---|---|
| Mandatory local bank account for companies (Yes/No) | Yes |
Mandatory residence requirement | Not in all cases |
Bank account opening time | Approximately 3 working days |
| Online bank account opening | Bank-dependent |
| Bank accounts for foreign nationals in Germany | Yes |
| Required documents – companies |
Proof of company registration |
| Required documents – individuals |
Passport/ID |
| Special requirements for foreign nationals |
Proof of financial history may be needed in some cases EU nationals can be subject to different requirements compared to non-EU applicants |
| Bank fees |
Monthly fees can start at 3€ Banks can have offers for no monthly fees based on age or minimum monthly deposits |
| Mandatory initial deposit | Bank-dependent |
| Types of accounts |
Current account Current account for pupils or students Savings account Corporate account Other banking and financial solutions |
| Online banking options |
Payment and transfer options Financial management tools Apple Pay and Android mobile payment Others, bank-dependent |
| Local agent requirements | Not necessarily; reccomended in some cases |
| Main banks in Germany |
Deutsche Bank DZ Bank KfW Group Commerzbank Unicredit Bank and others |
| Criteria for choosing the bank |
Account management fees Branch and ATM distribution Mobile banking option English support Other costs and/or offers |
| Possibility of setting a withdrawal limit | Most German banks offer this option |
Banking services offered | – personal loans, – mortgages, – investment services, – money withdrawals and payments, – savings, – international money transfers, etc. |
Account currency | Generally, bank accounts in Germany are denominated in euros, but some banks offer accounts in alternative currencies. |
| Possibility to open an investment fund | Some banks offer dedicated plans for investments. You can discuss these options further with our lawyers. |
| Age requirements to open a bank account in Germany | Over 18 years old; With their parents ' consent, minors can open a bank account at some German banks. |
| Regulatory institutions regarding banking in Germany | – German Federal Bank (Bundesbank), – The Federal Financial Supervisory Authority (BaFin) |
| Corporate bank account | Essential to deposit the minimum share capital when opening a company; Facilitates financial transactions; Helps separate business from personal transactions; Our attorneys can help to open a corporate bank account, |
| ATM fees | From 0 to 7.5 euros/transaction |
| Online bank account opening | – access the bank's website, – fill application form, – select account options, – print the form, – submit application along with ID documents at a Deutsche Post office. |
| Bank account for students | Age limits might vary from bank to bank; Generally, there are no banking fees; Require proof of student status. |
| Transferring money into another account | Can be done online or directly at any bank branch. |
| Closing a bank account | Follows the bank's specific procedures |
| Banking features in Germany | – online banking features, – two-factor authentication, – account monitoring, – customer support, – biometric identification, – protected deposits, etc. |
| Transfer reporting requirements | Transfers exceeding 12,500 euros to an account outside Europe must be reported to the Bundesbank to avoid fines. |
| Assistance | Our law firm can help you if you have difficulties opening a bank account or need assistance with complex banking-related matters. |
Table of Contents
What are the steps to open a bank account in Germany in 2026?
In order to open a bank account in Germany you will need to follow a number of steps:
- selecting the bank: there are many options to choose from and you can select a German bank or the branch of a large international bank; the choice can depend on their available services and the account maintenance fees;
- prepare the documents: banks have their own rules about the documentation a person must present upon opening the bank account; you will be asked to present your ID, but an employment contract or a payment statement could also be required;
- fill in the application: this is a specific form provided by the bank branch that must be properly filled in and handed over together with the other required documents;
- make the first deposit: in some cases, this can be mandatory, for example when opening a corporate bank account (and the initial minimum capital will be deposited into the newly formed account);
- other requirements: if you want an overdraft you must also present credit history, but if you have just come to Germany it won’t be possible for the first half-year to request an overdraft, as German banks will observe if any money is put into the bank account in the first 6 months.
What are the types of bank accounts in Germany?
When you decide to open a bank account in Germany you will need to choose its type:
- The most popular type of German bank account is the current account (Girokonto), also known as a checking account. You can use the Girokonto account for: money transfers, to withdraw money by using an EC-card that will usually be issued when opening the bank account; set up bill payments by direct debit so the money will be automatically withheld from the bank account at the desired date;
- The German savings accounts (Sparbuch) are best suited for people looking to put money aside because the interest rate is good for this type of account. Once you have set up your savings account a passbook will be handed to you in order deposit money.
- Other types of German bank accounts are: the instant access savings accounts(Tagesgeldkonto) and securities accounts (depot).
What kind of documentation is required to open a bank account in Germany?
Apart from a valid ID and evidence of work status, banks in Germany can also ask for an additional number of documents according to your situation (residency, studying, non-residency):
- Proof of address (Meldebescheinigung/Anmeldung). This document is needed to prove that you have officially registered as a resident in Germany;
- Tax Identification Number (Steuer-ID): generated once you register yourself;
- Proof of income or financial stability , such as: salary slips, scholarships or pensions;
- Residence permit/visa , for citizens who are not EU citizens;
- Proof of enrolment at a university, in the case of opening a student account.
What is the eligibility criteria to open a German bank account?
The criteria can differ depending on the bank as well as the chosen account. Typical criteria can be:
- Online banks sometimes provide the opportunity for non-residents to obtain accounts with restricted capabilities until they pass all the verification procedures.
- Age of 18 years or older (for minors, permission is required from the guardian);
- Sufficiency of legal capacity and presentation of valid ID (EU ID or passport);
- Residency in Germany (applies mostly for traditional banks);
- Passing anti-money laundering procedures, which might involve inquiries regarding the source of income;
- Creditworthiness (Schufa assessment) for overdraft-capable accounts;
We invite you to watch a video on how to open a bank account in Germany:
How to open a bank account in Germany for a company?
A corporate bank account is required for all the corporate forms that are available for incorporation in Germany, such as the popular GmbH, the German equivalent of the private limited liability company. Depending on the chosen structure, the founders of the company will first be asked to deposit the minimum share capital into the account, in order to complete the incorporation process.
For the GmbH, the minimum share capital is 25,000 Euros and at the time of registration, at least half of this amount (12,500 EUR) is deposited into the bank account (an account that can be verified).
The company founders (who can also be the future company managing directors) are the ones who will start the bank account opening process.
What are the banking features in Germany?
Some of the features you may want to look for when you open a bank account in Germany are the following:
- others: customer support via chat and phone can be a useful feature, especially for those clients who need to solve issues quickly.
- security: banks use various layers of security, however, you may be interested in selecting a bank that offers advanced, two-factor authentication – this is an important part of a secure online banking experience;
- biometric identification: fingerprint identification is offered by many banking apps, allowing users to quickly log into their bank accounts;
- alerts: users can choose a bank that offers notifications after each transaction in order to make sure that the usage of their account is constantly monitored;
If you want to open a business or open a bank account in Germany in 2026 you can contact our law firm for legal advice. Our team can also help you set up a limited company in Germany.