The normal bank account in Germany is called a Girokonto. There are several types, according to the banks you look at. Normally, if you open an account at bank with physical point of sales, there will be fees for the account. Those fees can go up to 5-10 Euro per month! Naturally, to an East-European like me this sounds crazy: as a bank client, they should be happy to have me!
Exception for the fees: students and people who deposit more than 1000-1200 Euro per month in the account. You can just receive your salary in this account and thus avoid those stupid fees.
How to open it?
You will definitely need your Meldebescheinigung for this plus a copy of your ID document. If you already have a job offer, it will help to also bring your work contract with you to show them that you are reliable.
With all those documents, just go to the closest bank and ask them for a Girokonto. Before selecting a bank, consider the following: does the bank have an ATM near your place and near your working place? If you withdraw cash from another bank or banking group, there are fees up to 10 Euro per withdrawal. The most widespread banks are Sparkasse, Postbank, Deutsche Bank and Commerzbank.
I would not recommend any of them! Try to get an account at DKB (Deutsche Kredit Bank). There are no fees whatsoever and you get a free VISA debit-credit card with which you can withdraw cash anywhere in the world (incl. Germany) for free! They also give you interest on both the normal Girokonto and on the VISA amount that you have! No other bank will give you interest rates on a Girokonto.
They are not easy though: I tried 3 times until they accepted me. In the end I managed to sneak in through the Lufthansa Miles and More programme.
Internet Banking
This is the awesome feature that eventually will close the physical banks. Almost every bank in Germany offers it free of charge. You can pay your invoices (Rechnungen) and transfer money in every EU country without paying a cent! Make sure you register for this at your bank of choice.
For every transaction you will need to use a TAN number for increased security. A list of 100 TAN numbers will arrive separately from your username and password. Some banks like Postbank also offer mobile TAN: you get this special number on you mobile phone. Unfortunately, DKB does not yet offer this.
Next article will be about the best possibility to save your money, the Tagesgeldkonto!
Questions? Just ask below
i would have a plan to open an account. i am interested for DKB. but i am worry for interest rate and any other fee. How much do they ask me to pay monthly or yearly with or without using the debit/credit card?
ReplyDeleteHi Bob, DKB is a great choice. Interest rates are down generally, but there are no current fees.
DeleteThere are NO fees at the DKB. You must not use the card if you don't want. The interest rate for a good balance AT THE MOMENT is 1.05% per year (calculated and added MONTHLY to you credit card account).
ReplyDeletesparkasse has atm outlets in every nook and corner........would suggest that for beginners
ReplyDeleteDKB refused me twice with no explanation...
ReplyDeleteDKB might refuse students, etc. that have not enough money coming in. I know that sucks.
Deletevisitor foreigner can open bank account in France?
ReplyDeleteNo. You can't
DeleteFinally I got the DKB bank account. But I found out that you can also open DKB bank account from outside Germany. i.e you do not have to be a resident in Germany to open a DKB account, it is available for non-residents also. The website banks-germany.com provides English information and details on banking in Germany.
ReplyDeleteThere is absolutely no problem in opening a bank account from abroad. Maybe not all banks offer that service, but DKB does for sure. You can find this information on http://www.movingto-berlin.com/german-bank-account/
ReplyDeleteI have the greatest displeasure of dealing with German banks. I advise everybody to avoid them like a plague — expensive, with hidden fees (like transfer is free, but one must pay for the confirming SMS), slow, unfriendly, and consider (similarly to americans) that there is no world outside of their country.
ReplyDeleteFor countries in SEPA region, one's salary can be paid directly to euro account in home country, where frequently banks issue Visa/MasterCard cards without fees (for euro accounts). This is frequently better, less costly, and easier option.
True. I got a friend deposing a sum in my girokonto and not being able to withdraw them for 3 weeks. Germany used to be synonymous with speed.
DeleteHi there,
ReplyDeletejust tried to open DKB account and the response was this:
Bitte beachten Sie, dass wir aus geschäftspolitischen Gründen nur für Kunden aus Deutschland, Österreich und der Schweiz Konten eröffnen.
Do you know if their policy towards to foreigners has changed?
Not towards foreigners in general, but non-residents. If you are a foreigner living in Germany, you can still apply with DKB. DKB no longer allows bank account for non-residents, unless you live in a German speaking country (Switzerland, Austria or Germany).
DeleteThough there are not lot of options, but you can try here if any works for you http://banks-germany.com/german-bank-accounts-for-non-residents
If you are living in Germany and still have this problem, then try Comdirect - http://banks-germany.com/comdirect . They are more easier to join than DKB.
Some other options are
I've read there that Consorbank is a good alternative : http://www.settle-in-berlin.com/german-bank-account/
ReplyDeletehas anyone had any experience with them ? I am coming in a month and wondering which bank to go to.
Thanks
I read your lines its really great for us you share a unique information thanks .
ReplyDeleteOnly few blogs given us this type of information i hope in future you will share more and more .
Best student accommodation in Preston
Cheapest student accommodation in Preston
Liberty Living Preston
Hello and thank you for the article. Could you please explain how to get a dkb account through Miles and more?
ReplyDeleteThank you:) !
Online Konto eröffnen - Vergleichen ✓ Kostenlos » Online Konto Eröffnen
ReplyDeletehttp://www.basis-konto.de/
Online Konto eröffnen – Die 10 besten kostenlosen Girokonten mit 0€ Gebühren für jedermann, ohne Einkommen, Giro- und Kreditkarten kostenlos, günstiger Dispo, hier sofort online abschliessen Girokonto Vergleich – Sofort Online & Kostenlos
QUANTUM BINARY SIGNALS
ReplyDeleteGet professional trading signals sent to your cell phone every day.
Start following our trades right now and profit up to 270% a day.
Thank you very much for writing such an interesting article on this topic. This has really made me think and I hope to read more.
ReplyDeleteWithdraw Bitcoin to Bank Account
You’ve got some interesting points in this article. I would have never considered any of these if I didn’t come across this. Thanks!.
ReplyDeletekamer te huur leuven
Ok...
ReplyDeleteWhat I'm going to tell you might sound kind of creepy, maybe even a little "supernatural"
WHAT if you could just push "PLAY" and LISTEN to a short, "musical tone"...
And suddenly attract MORE MONEY to your LIFE??
I'm talking about hundreds... even thousands of dollars!
Sound too EASY?? Think something like this is not for real?!?
Well then, I've got news for you.
Sometimes the largest blessings life has to offer are the SIMPLEST!
In fact, I'm going to provide you with PROOF by allowing you to PLAY a REAL "magical wealth building tone" I've produced...
YOU just push "PLAY" and you will start having more money come into your life... it starts right away...
CLICK here NOW to PLAY the magical "Miracle Money Tone" as my gift to you!
Very informative post ! There is a lot of information here that can help any business get started with a successful social networking campaign ! germany students
ReplyDelete