Bank account in Germany

How to Open a Bank Account in Germany: A Complete Guide for Foreigners

As a foreigner in Germany, opening a bank account is relatively simple: you can choose to use a German bank, an international bank, or even an online banking option. Banks offer different types of accounts, from completely free to fee-based accounts, with monthly fees ranging from €2.90 to €14.90, depending on the level of service required. In some cases, you may need a German registration/residence permit or a certificate from your employer to successfully open an account.

Learn about banking services in Germany

Germany has a robust three-tier banking system consisting of the following:

Private commercial banks: Large banks that provide a wide range of financial services.
State Savings Banks (Sparkassen and Landesbanken): Local banks that aim to meet regional needs.
Cooperative banks (Genossenschaftsbanken): banks owned by their members.

In addition, many international banks, online banks and mobile banks also operate in Germany. The Bundesbank is the country's central bank and is responsible for regulating banking and other financial services in Germany under the supervision of the Federal Financial Supervisory Authority BaFin.

Why you need to open a bank account in Germany

Although having a German bank account is not strictly required to conduct transactions in Germany, having a German bank account can greatly simplify managing personal finances in Germany. In particular, the following types of transactions require or heavily rely on a German bank account:

Utility and insurance costs
Rent Payment and Mortgage Registration
Salaries paid by German employers
Home Internet Setup

Although having a foreign bank account in Germany allows you to maintain financial control, many German companies prefer to use local accounts. In addition, major international debit and credit cards such as Visa, Mastercard and American Express are widely accepted in Germany.

However, if the bank does not have a branch in Germany, additional transaction fees will be charged. Online or mobile German banking, also known as direct banking, allows non-residents to open an account in advance and thus avoid all such fees. However, this service may not be available to certain countries.

International bank account options in Germany

Many major international banks, such as HSBC and Citibank, also have operations in Germany. If you already have an account with one of these banks, you can apply to transfer your account to a branch in Germany before you move.

German bank account

Banking in Germany

Types of bank accounts in Germany

German banks offer a variety of different account types. In short, here are the main account types:

Settlement Account

A Girokonto (settlement account) is a standard bank account in Germany, used primarily for receiving wages and paying bills. Most German banks offer both general and specialized Girokonto accounts for students and young people.

Savings Account (Sparkonto)

Savings accounts can be either current accounts, called Tagesgeldkonto, used for cash accumulation, or time deposit accounts, which usually offer higher interest rates for a fixed deposit period. Savings accounts in Germany can be opened by both residents and non-residents.

Non-resident accounts

Settlement accounts are usually restricted to residents only, but many banks offer non-resident accounts which can be very convenient for those who are planning to immigrate to Germany or work in Germany.

Digital and Mobile Accounts

Most major German banks offer online banking and therefore mobile accounts, which are managed via an app. Some banks offer their services entirely online or via mobile.

Offshore Accounts

Offshore bank accounts are the most popular option for foreigners living in Germany, as they often travel between multiple countries or need to conduct regular cross-border transactions. Offshore accounts are more convenient for cross-border services and, in most cases, have lower tax rates. Important banks that offer offshore services include Deutsche Bank and Commerzbank.

German bank services for foreigners

Foreigners have several options when opening a bank account in Germany. First, it is important to decide in which type of bank you want to open an account: a German private bank, a state savings bank (Sparkassen), a cooperative bank (Volksbanken/Raiffeisenbanken), an international bank or an online bank (Direkt Bank).

German Private Bank

Deutsche Bank is the most famous German private bank; it and its subsidiary Postbank have about 12 million customers. Commerzbank follows closely behind with about 4 million customers. Most of the large banks have extensive experience in serving international clients and offer a wide range of services targeted at foreigners.

bank	Account Types	Details
Current accounts at Deutsche Bank:	Active Account BestKonto Account Free Youth Account	Compatible with online and mobile banking, free initially, €5.90/month thereafter. Premium account with Mastercard Gold credit card and international insurance, costs €11.90/month. Designed for students, interns and volunteers under 30 years old, for EU member states.
Current Commercial Bank Account:	Girokonto KlassikKonto PremiumKonto	Free basic account, plus a debit card. €4.90/month, plus a Mastercard debit card. €12.90/month, allows up to four credit cards, and offers free cash withdrawals.
HypoVereinsbank current account:	Starter Account Active Account Plus Account Exclusive Account	Free starter account for students, interns and people under 26. €2.90 per month for an active account; €5 annual debit card fee. €7.90/month, more options for sending money. €14.90/month, including global withdrawals.

Sparkassen (Savings Bank)

Sparkassen are savings banks in every major German city. In Berlin, they are called Berliner Sparkasse and in Munich, they are called Stadtsparkasse. They offer basic Girokonto accounts, debit cards and deposit types. In fact, the requirement to open a Sparkasse account is to have residency in Germany.

Volksbanken and Raiffeisenbanken

These cooperative banks are an important part of the German banking system. They offer a wide range of settlement accounts, all of which are fee-free, and have the option of providing debit cards and online banking services. As with Sparkasse, anyone opening any type of account must be a German resident.

Foreign banks operating in Germany

Many international banks have branches in Germany and offer specific services to foreigners. These banks usually allow customers to open an account in their home country and then easily transfer the account to a German branch. Two of the largest international banks offering services in Germany include HSBC and Citibank.

International banks in Germany include:

Digital and Mobile Banking

Digital banks in Germany are called direct banks. Digital banks usually do not have local branches: you get banking services through ATMs of other banks.

Digital banks can often offer more attractive conditions. Some digital banks offer free bank accounts with no minimum deposit required.

Digital banks include:

How to choose a German bank account

When choosing a bank account in Germany, there are several factors that may influence your decision:

cost

Most German banks offer simple current accounts free of charge, but with a limited range of services. Online and mobile banking charge lower fees for money transfers, but also limit the number of transactions per month.

English service

Many international banks and mobile banks, as well as some major German banks, offer English versions of their websites and mobile apps. However, Sparkassen and Volksbanken have very limited services in English.

Types of banking products and services

Services you need to consider include free international withdrawals, affordable international money transfers, and other services you may need, such as credit cards, overdrafts, and free ATM withdrawals.

Availability

Online or mobile banking accounts can be accessed from anywhere, making it easy to do your banking anytime. Most central banks also offer fast online account access.

Non-resident accounts

If you need to open an account before moving to Germany, consider opening an account through an online bank or an international bank. In most cases, national banks in Germany only provide services to resident customers. You can compare the conditions for opening and servicing an account at multiple German banks through the free service platform DeutschesKonto.org, which is available in English.

How to open a bank account in Germany as a foreigner

Usually, there are no special requirements for EU citizens to open a bank account in Germany. However, citizens of non-EU countries must confirm their registration and/or valid residence permit in Germany. Sometimes a work permit is also required. Account opening may be refused without a good financial record.

It is recommended that you visit a bank branch in person and bring with you all the documents that may be required, which typically include: passport or photo ID and valid visa or residence permit; proof of address; proof of income or employment (depending on the type of account being opened); confirmation of student status (if opening a student account); credit rating report (may be required by some banks).

Other applications also require identity verification through the post or an online identity verification process. Typically, account opening takes 2 to 3 business days.

How to open a German bank account abroad

Some online banks offer the ability to open a bank account from abroad, but this is usually only available to EU citizens. Some require you to submit personal documents electronically; others, such as bunq, can open an account in minutes via your phone.

Before relocating, foreigners can open a German bank account if they have obtained a valid German visa and can provide a German address. However, bank account opening in certain countries may not be allowed. The procedure for opening an electronic or mobile banking account is as follows.

How to open an electronic or mobile banking account in Germany

Most German banks also allow you to open an electronic account online, thus avoiding a physical visit to the bank. If you currently have a bank account, you can usually convert it to an electronic account by downloading your preferred bank's app on your mobile phone. To open an electronic account, you will need an email address, a mobile phone number and a valid identification document.

How to open a business bank account in Germany

Depending on the business model, there are different ways to open a German commercial bank account:

Sole business owners and freelancers typically need the same documents as when opening a private account.

A partnership must provide detailed information about the partners.

A closed stock company also needs to provide articles of association, business registration information, registration certificate, shareholder list and business license (if any).

The business accounts of a closed stock company must be opened personally by the CEO.

How to open a bank account for your child in Germany

Most German banks have prepared balance and savings accounts for children and teenagers. Of course, the conditions for opening and maintaining a children's account may differ from bank to bank, but most banks offer the opportunity to open an account for children under the age of 18 living in Germany.

The documents that are usually required are as follows:

Passports or ID cards of the child and his/her legal representative;
Some banks offer the service of opening an account for a child only if the legal representative already has an account with the bank.

What to do if your bank account application is rejected in Germany

German banks may refuse to open an account if the applicant fails to provide registration or residence permit in Germany, or does not have a confirmed credit standing. If any inconvenience is caused by the bank itself, a complaint can be submitted to the German Financial Complaints Commissioner. EU/EFTA citizens can also submit a complaint to the EU Financial Dispute Resolution Organisation FIN-NET.

Banking services in Germany

Generally speaking, banks in Germany offer services similar to those of the larger banks in the US, UK and many European countries. In addition to the standard services – account opening, debit/credit card processing, money transfers and loan facilities, many German banks can also offer:

Insurance, including auto, home and health insurance
Mortgage
Pension Plan
Investment Plan

International Money Transfers from Germany

There are several alternatives to banks for international money transfers that may be cheaper and more convenient, such as:

CurrencyFair
Moneycorp
Remitely
Wise
WorldRemit

You can also use the online comparator Monito to save fees, lock in better exchange rates, and find the most attractive international money transfer options.

Bank account management in Germany

Most of the above banks offer a full range of account options:

Personal Services

Although the number of bank branches in Germany has decreased in recent years, there were approximately 13 physical branches per 100,000 people as of 2016. Banks maintain customer service teams and banking specialists.

Online Banking

This channel provides 24/7 access to your accounts and banking services. Most major German banks offer this service option, including: Sparkassen and Volksbanken

Mobile Banking

Mobile banking apps enable users to conduct banking activities and pay bills using their mobile devices; sometimes they also offer additional services, such as budgeting tools.

Changing banks or closing accounts in Germany

Changing banks or closing bank accounts in Germany is relatively simple if the customer has no unpaid debts. Proper procedures should be followed to avoid additional fees and penalties.

If you want to change banks, it is recommended to first open an account with the selected bank. Usually, you will need to complete and sign an account closure application form. First, you must ensure that:

There may be mandatory conditions requiring the account to be in operation for a minimum period. Failure to meet this condition will result in a penalty.
You can expect to receive confirmation from the bank via email or letter that the account has been closed. It is recommended to retain this notification for future correspondence.
If you have set up direct debits or recurring payments, you will need to cancel these now. You will also need to inform your employer and anyone else who has paid you through the account that it is no longer available.

How to open a business bank account in Germany?

In Germany, one of the leading economies in Europe, opening a business bank account is a crucial step for any entrepreneur looking to organize and expand their business. Effective financial management starts with choosing the right bank and successfully completing the account opening process. This article will provide entrepreneurs with a detailed guide to help them through this process.

step	More Information
Select Bank	Choose the bank that best suits your business needs. Consider traditional banks such as Deutsche Bank, Commerzbank and Sparkasse, as well as online banks such as N26 and Fidor Bank. Important factors include account maintenance fees, online management availability, loan services and special business services.
Prepare the file	Provide the necessary files, which usually include: The company's statutory documents (commercial registration extract, articles of association, etc.) Identification documents of founders and managers Proof of company registration in Germany Estimated transaction volume information Non-residents may face additional requirements, such as proving legal operations in their country of origin.
Submit your application	After you've chosen a bank and prepared your documents, apply to open an account. You can submit your application online, by mail, or in person. Follow the bank's instructions carefully and provide complete and up-to-date information.
Account Verification and Activation	The bank will verify the submitted documents and information, which may take a few days to a few weeks. Upon successful verification, the account will be activated and you will receive the tools you need to manage your account, including online banking access, bank cards, and checkbooks.
Tax registration and further maintenance	Register an account with the tax office to obtain a company tax number, which is required for tax payments and accounting. Record all transactions regularly and ensure compliance with regulatory requirements.

Opening a corporate bank account in Germany is an important step in starting a business. Choosing the right bank and thoroughly preparing for the account opening process will help ensure a smooth and efficient start for your business. By following this step-by-step guide, you can minimize potential difficulties and quickly achieve your business goals.

Opening a bank account in Germany as a non-resident

A globalised economy and a mobile workforce have undoubtedly meant that opening a bank account in a foreign country is becoming an important factor for international clients and entrepreneurs. As one of the largest economies in Europe, Germany attracts many foreign investors and expatriate employees who need to open a local bank account, which is an integral part of adapting and conducting business. This article aims to provide a detailed guide for non-residents to open a bank account in Germany, focusing on the main steps and requirements involved.

Why open a bank account in Germany?

As a non-resident opening a bank account in Germany, you will be able to enjoy many benefits, both personal and business finances can be maintained under the EU system; you will be able to use high-quality banking services and products; you will be able to make more international payments and receive salaries from German employers. In addition, opening a bank account in Germany may help non-residents apply for a visa or residence permit.

Account opening stages

step	More Information
Select Bank	Choose the right bank from the many options available in Germany, including traditional banks like Deutsche Bank, Commerzbank and Sparkasse, as well as online banks like N26 and Revolut, which offer simplified account opening conditions.
Account Type	Determine whether you need an individual, joint or business account, as the terms and conditions for opening and servicing an account may differ depending on the account type.
Prepare the file	Non-residents are usually required to provide the following documents to open an account: Valid passport or ID card Proof of residential address (may be required within or outside Germany) Proof of registration in Germany (Anmeldung), if applicable In some cases, a visa or residence permit For business accounts: Company documents and owner information
Account opening procedure	After selecting a bank and gathering all the necessary documents, begin the account opening process. Most banks allow you to begin online, but the actual account opening may require an in-person visit to the bank or verification via video conferencing, especially for non-residents.
Account activation and use	Once approved, the bank will provide access to the account through a variety of methods, including bank cards and online banking. Make sure you are familiar with the terms and conditions of the account, especially regarding service fees and transaction limits.

When opening a bank account in Germany, as a non-resident, it is very important to prepare in advance and understand the local banking procedures. By choosing the right bank and successfully completing the account opening process, you will be able to access a wide range of financial services that will greatly simplify the management of your finances in Germany and Europe.

Can foreigners open a bank account in Germany?

In the era of globalization, the cross-border flow of people and capital has become very common, which makes the issue of financial services for foreigners in Germany particularly important. As one of the world's major economies, Germany has attracted many foreign professionals, students, entrepreneurs and investors; for many of them, opening a bank account in Germany has become a top priority. This article will explore whether foreigners can open a bank account in Germany and the account opening process.

Foreigners can indeed open a bank account in Germany; however, the opening process and required documentation for different account types may vary depending on one's residency status, nationality, and chosen bank. In general, German banks are open to clients from other countries, offering services that cater to everyday financial needs as well as complex investment purposes.

Bank account type

Foreigners can open the following types of accounts as needed:

Current Account (Girokonto): Used for everyday transactions, including receiving wages, paying bills and bank transfers.
Savings Account (Sparkonto): It is used to store money and therefore offers a higher interest rate than a checking account.
Corporate Account (Geschäftskonto): A corporate account used for doing business in Germany, providing facilities for managing your company's finances.

Required Documents

Foreigners usually need to provide the following documents to open an account in a German bank:

Valid passport or ID card
Proof of residential address in Germany, such as a residence registration certificate (Anmeldung)
Non-residents need to provide proof of foreign residential address
Visa and/or residence permit, or other document proving legal stay in Germany (if required)
Company documents required to open a business account

Account opening process

The account opening process starts with choosing a bank and account type. Most German banks allow you to start the account opening process online, but sometimes you need to go to a bank branch in person to complete the account opening. Some banks offer video verification services, which is very convenient for foreigners.

Although opening an account may be difficult for foreigners due to cumbersome procedures or language barriers, the process can be significantly simplified by preparing all the required documents in advance and choosing the right bank. Since German banks offer a wide range of financial services, foreigners can effectively manage their funds during their stay.

Open a German bank account online

The high-tech era has made financial services more accessible, creating new possibilities for international business and personal financial management. As one of the most developed economies in the world, Germany offers a wealth of online banking services, especially for international entrepreneurs, students, workers and others who want to manage their money efficiently. This article will introduce the key steps to open a German bank account online and provide advice on choosing a bank and account type.

Select bank and account type

First, you need to choose the bank that best suits your needs. The German banking system includes traditional banks and fully digital banks such as N26, Comdirect and DKB, each with its own unique advantages and features. When choosing a bank, you should consider the following factors:

Terms of Service and Fees
Possibility to open multi-currency accounts
The convenience and functionality of online banking

Loan and Investment Opportunities

Next, select the account type based on its purpose: Personal, Joint, or Business.

Online account opening process

The process for opening a German bank account online generally includes the following steps:

step	More Information
Fill out the online application form	Log on to the official website of your chosen bank and complete the account opening application. Have all your personal information ready, such as passport details and residential address.
Authentication	Identity verification is required to complete the account opening process. Most banks offer a variety of verification options: video verification via webcam, using the PostIdent service at a Deutsche Post branch, or providing documents through a partner bank.
Sign documents	Once your identity is verified, you can electronically sign the banking agreement and related documents.
Account Access	Once your application is approved, the bank will provide access to your new account, send your bank card and other banking instruments, and open online banking capabilities.

Key factors for successful account opening

Read the bank's requirements carefully: Make sure you meet all the criteria and provide the required documents.
Prepare for the identity verification process: Gather all necessary documents and equipment ahead of time so that the process goes smoothly.
Read your account terms and conditions: Learn about service fees, fund transfer terms, and other important details about using your account.

For foreigners, opening a German bank account online is simple and convenient. With a wide selection of banks and account types, international clients are able to find the option that best suits their financial needs. By following the above advice, you will be able to successfully open an account and start using financial services.

Offshore bank accounts in Germany

Under current world economic development conditions, many companies and individual entrepreneurs want to expand their resources by diversification, partly by means of offshore bank accounts. Germany is an attractive jurisdiction for opening offshore accounts due to its stable economy and high level of banking services. However, the term 'offshore account' in the German financial system refers more to international bank accounts used for international business than to offshore banks in the traditional sense. This article will examine the main aspects of international bank accounts that Germany offers to foreign companies and entrepreneurs.

Advantages of opening an international bank account in Germany

Stability and Reliability: German banks have a reputation for stability and reliability, making them an ideal place to manage international assets.
Efficient international settlement: A German bank account provides convenient and fast international transfer services, which is essential for global business.
Attractive loan and investment conditions: Most German banks offer competitive loan and investment conditions.

How to open an international bank account in Germany?

Opening an international bank account in Germany for a foreign business usually involves the following main steps:

step	Details
Select Bank	Choose the bank that best suits your business needs based on services, fees, and availability.
Prepare the file	The following documents are usually required to open an account: Documents certifying the registration of a company and its structure. Passport and address proof of the managers and beneficial owners. A detailed business plan or description of the company's activities. Proof of economic ties to Germany (if applicable).
Submit Application Procedure	Once you have your documents ready, you can apply to open an account. Depending on the bank's policy, this can be done in person or online.
Verification and Account Activation	The bank will verify the information and documents provided. Once the verification is complete, the account will be activated and available for use.

Tips for successful account opening

Bank Fees and Terms of Service: Before opening an account, consider all the bank's terms and fees in detail.
Be prepared for complex verification: German banks are subject to strict anti-money laundering and counter-terrorist financing regulations, and verification may require additional documents and information.
Seek professional help: You can consult a financial advisor or legal advisor to simplify the account opening process.

Opening an international bank account in Germany is a strategic move to expand your business and make it more financially sustainable on the international stage. If done the right way and with adequate preparation, this process can be done efficiently, opening up new avenues for growth and development for your business.

Opening a business bank account in Germany

Opening a corporate bank account in Germany is one of the important steps to enter this large and dynamic European economy. Germany is very attractive for corporate bank accounts with its dynamic entrepreneurial environment, innovation potential and developed banking infrastructure. In this article, we will outline the main aspects and procedures for opening a corporate account in Germany.

Advantages

Strong Banking Infrastructure: Germany has a strong banking infrastructure, with numerous banking institutions providing a wide range of financial services to domestic businesses.
Good business environment: With a stable economy, diverse industries and investment opportunities, Germany is a very attractive business location.
Professional services: Deutsche Bank is committed to providing high-quality and professional services to corporate customers to ensure the efficiency of corporate financial management.
Digital Innovation: Most German banks are embracing digital technologies, launching advanced online platforms, mobile applications, and other innovative solutions to improve customer convenience.

How to open a business account in Germany

step	Details
Select Bank	Choose a suitable bank to open a business account. Research the reputation, areas of specialization, terms and service fees of various banks.
Prepare the file	Prepare your identification document, certificate of incorporation, extract from shareholder register and other documents the bank may require.
Bank visit or online application	Visit the bank or submit your application online through the bank's official website. Provide all necessary documents and complete the account application form.
Apply for review	The bank will verify the documents and review your account application. This process may take a few days or weeks.
Account Activation	Once your application is accepted, your business account will be activated and you will have access to banking services.

Opening a business account in Germany is an important step in running a successful business. With its favorable business environment, developed banking infrastructure, and high professionalism of banking services, such an account will become a reliable tool for managing your company's finances. When choosing a bank, consider its reputation, terms of service, and digital capabilities to ensure that it meets your needs.

Opening a personal bank account in Germany

Opening a personal bank account in Germany helps you manage your personal finances efficiently. Opening an account in this large and stable European economy provides you with access to a wide range of banking institutions, a variety of financial products and a high level of service. The following outlines the key aspects and procedures required when opening a personal bank account.

Benefits of opening a private bank account in Germany

Financial stability: Germany has one of the most stable economies in the world, and its excellent banking system ensures the safety of funds.
Diverse financial products: Most German banks offer customers a variety of financial products, including debit cards, credit cards, savings accounts, deposits and even investment opportunities.
Convenience and accessibility: Most banks in Germany have advanced online platforms and mobile apps that allow customers to manage their accounts anytime, anywhere.
Professional service: German bank experts are highly professional and experienced, guaranteeing high-quality customer service.

How to open a personal bank account in Germany

step	Details
Select Bank	Choose a bank that suits your needs. Carefully read its terms of service, fees, and other parameters, including whether it offers online banking.
Prepare the file	Prepare identification documents (such as a passport), proof of residential address, and possibly proof of income.
Bank application or online application	Customers need to submit an application to the bank or apply online through the official website, provide all documents and fill in the account opening application form.
Apply for review	The bank will review your application and verify the documents provided. This process may take several days.
Account Activation	Once your application is approved, your personal bank account will be activated and you can start using banking services.

An account with a high level of service, a wide range of financial products, and convenient online banking capabilities will become an important tool for managing your financial affairs and achieving your financial goals. When choosing a bank, consider its reputation, terms of service, and quality of service to find the option that best suits your needs.

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Germany bank account

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What services do German banks offer to private clients?

German banks offer a wide range of services to individual customers, including but not limited to the following:

Current and savings accounts: Provide basic banking services that enable customers to carry out daily financial transactions such as receiving wages, paying bills and saving.
Credit and debit cards: Convenient ways to access your funds when shopping in stores and online, and withdraw cash from ATMs.
Online and mobile banking: Manage your finances anytime, anywhere via the internet or mobile apps.
Loans and mortgages: Financing large purchases such as a house or car through a loan or mortgage.
Investment products: Include deposits, stocks, bonds and mutual funds for those who want to invest their savings and grow their capital.
Insurance: Some banks offer insurance products such as life insurance, property insurance and car insurance to protect customers from financial risks.
Retirement plans: Various pension and savings plans to ensure financial stability in old age.
Private banking services: Targeting high net worth customers, many banks offer personalized financial solutions and asset management.
Transfers and payments: Provide international transfer services, including overseas transfers, foreign currency payments and foreign exchange services.
This list is not exhaustive and specific services may vary from bank to bank. The German banking industry is known for being highly competitive and innovative, so banks often offer additional services and benefits to attract and retain customers.
What services do German banks provide to corporate clients?

Deutsche Bank offers a variety of services to business clients, designed to support different aspects of their business, from day-to-day operations to strategic planning and development. Here are some of the main services provided to business clients:

Cash & Settlement Services (CS): Manages day-to-day financial operations, including opening and maintaining current accounts, payment processing, collections and other transactions.

Loans & Financing: Provides various types of loans and lines of credit to finance operations, equipment investment or business expansion. Includes short-term and long-term loans, overdrafts, leasing and factoring.

Corporate Internet Banking: Online services that allow businesses to manage accounts online, make payments and track financial status in real time.

Cash Management Services: Solutions to optimize cash and liquidity management, including payment process automation, fund consolidation and corporate card management.

Trade Finance: Services that support foreign trade activities, including letters of credit, guarantees, export and import financing.

Investment & Brokerage Services: Provides advisory and asset management services, investment planning, and access to stock markets and other investment products.

Corporate Finance: Provides advice and support on mergers and acquisitions, securities issuance, debt restructuring and capital raising.
International banking: Services that support international trade and investment, including exchange control, international payments, and foreign exchange risk management.
Insurance and pension planning: Insurance products and solutions for employee retirement benefits.
Digital and innovative solutions: Including blockchain technology, electronic invoicing, mobile payments, and other innovative financial technologies.
This list is not exhaustive and specific services may vary by bank and business needs. German banks aim to provide comprehensive solutions tailored to their clients' specific business models and industry characteristics.
How to get a credit card from a German bank for private clients

Getting a private client credit card from a German bank involves several steps and requirements. Here are the main steps in the process:

Choosing a bank and type of credit card
Research what different banks and their credit cards offer, including annual fees, interest rates, grace periods, bonuses, and benefits (e.g., loyalty programs, travel insurance).
Determine which type of credit card best suits your needs: Standard, Gold, Platinum, etc.
Credit check
Banks in Germany typically check applicants’ creditworthiness through Schufa (the German credit bureau) or other agencies. This includes checking your financial history and current financial situation.
Make sure you have a good credit history to improve your chances of approval.
Submit an application
Fill out a credit card application form, which can be found on the bank’s website, mobile app, or at a bank branch.
The application will need to include personal details, income information, and possibly other financial information.
Submit necessary documents
Typically, the application requires: a passport or ID card, proof of residential address, proof of income (e.g., a copy of a recent pay slip), and sometimes proof of employment and years of service.
Wait for a decision and receive the card
Once you’ve submitted your application and documents, the bank will review and make a decision. This process can take anywhere from a few days to a few weeks.
In case of a positive decision, the credit card will be mailed to your home address or you can pick it up at a bank branch.
Tips:

It is important to be familiar with the terms and conditions of the credit card, including the interest rate for using the credit facility and the cash withdrawal fees.
Some banks offer online approval, which can speed up the process of getting a credit card.
If you have no credit history in Germany, some banks may recommend starting with a prepaid credit card or a low-limit credit card.
Which bank accounts can be opened in Germany

There are different types of bank accounts that can be opened at German banks, each of which is aimed at a specific purpose and has its own characteristics. Here are the main types of accounts available to open:

1. Current Account (Girokonto)

A basic account for everyday financial transactions.

For salary payments, bill payments, transfers and cash withdrawals.

Most banks offer online banking and debit cards for this account.

2. Savings Account (Sparkonto)

Designed to accumulate funds with the possibility of earning interest.

Usually offers higher interest rates than current accounts, but has restrictions on withdrawals.

3. Current Deposit (Tagesgeldkonto)

Savings account option with daily interest payments and no withdrawal restrictions.

Offers more flexible terms and conditions than a standard savings account.

4. Fixed Deposit Account (Festgeldkonto)

An account for holding fixed-term deposits with a predetermined interest rate.

Usually offers higher interest rates than savings accounts, but funds cannot be withdrawn without penalty before the deposit expires.
5. Investment Account (Depotkonto)

For buying and holding securities such as stocks, bonds and stock shares.
Allows you to manage your portfolio through the bank.
6. Youth/Student Account (Jugendkonto/Studentenkonto)

Specialized accounts with favorable conditions for teenagers and students.
May include free account maintenance, favorable credit terms and debit cards.
7. Business Account (Geschäftskonto)

Accounts for legal entities and self-employed individuals.
Used for business operations, paying bills, employee salaries and other company expenses.
8. International Account

Offers accounts denominated in foreign currencies, suitable for individuals who frequently conduct transactions in other currencies.
Suitable for expats, international students and businesses doing business abroad.
Choosing a specific account type depends on the client's personal needs, financial goals and preferences. Many German banks offer consultation to help you choose the right account type.
Which bank in Germany has the most customers?

Deutsche Bank and Sparkassen-Finanzgruppe (Savings Bank Group) are among the largest banking groups in Germany by number of customers. However, in terms of number of customers, Sparkassen-Finanzgruppe serves the largest number of private and corporate clients. This is because Sparkassen is a network of more than 400 local savings banks across Germany, covering all regions of Germany and having a wide range of customers.

Sparkassen-Finanzgruppe plays a key role in local and regional financial services across Germany, providing a full range of banking services to private and corporate clients. Due to its extensive branch network and focus on serving local communities, Sparkassen enjoys a high level of trust and popularity among the German people.

As one of the largest banks in the world, Deutsche Bank also has a large number of customers in Germany and provides a wide range of financial services to private, corporate and institutional clients internationally.
What documents are needed to open a bank account in Germany

The following are the documents that are usually required to open a bank account in Germany, whether for private or corporate clients:
For private clients:

1. A valid passport or ID card (Personalausweis)

For foreigners, you must present your passport and, if you have one, your residence permit.

2. Confirmation of residence (Meldebescheinigung)

A document issued by the local registration authority (Bürgeramt or Meldebehörde) that proves your address in Germany.

3. Proof of income (not always required)

For example, a recent pay slip or other documentation of your income source.

4. Taxpayer number (Steueridentifikationsnummer)

The tax identification number that every German resident receives from the tax office.
For corporate clients:

1. Documents proving the identity of the business owner or authorized person

Passport or ID card.

2. Company registration documents

Trade registration (Handelsregisterauszug) of a legal entity.

Business registration certificate (Gewerbeanmeldung) of a self-employed person.
3. Articles of Association or Articles of Association (Gesellschaftsvertrag)

Documents describing the company structure and operating rules.
4. Confirmation of the company address

For example, a lease agreement or utility bill signed in the company's name.
5. Company Taxpayer Number (Steuernummer) or Taxpayer Identification Number (Umsatzsteuer-Identifikationsnummer if applicable)

For doing business and paying taxes in Germany.
General Tips:

Contact your bank in advance: requirements may vary by bank and account type. It is useful to check the list of required documents directly with the bank.
Document Translation: If your documents are not in German, the bank may require a translation by a certified translator.
Additional Documents: In some cases, additional documents may be required, such as financial statements or a business plan for the corporate account.
Preparing and submitting all required documents will significantly speed up the process of opening a German bank account.
How to get a loan from a German bank

Getting a loan from a German bank involves several steps and requires the preparation of some documents. Here are the main steps you need to take to get a loan in Germany:

1- Assess your credit profile

Credit history: Your credit history (Schufa-Auskunft) plays a key role in the bank's assessment of your credit profile. A clean credit history increases your chances of getting a loan.

Income: You will need to provide proof of a stable income, such as a pay stub or tax return.

2 Determine the loan amount and term

Estimate how much you need to borrow and how long you are willing to borrow it for. This will help you determine the monthly payments and the total cost of the loan.

Compare offers

Research: Research offers from different banks. Loan terms, interest rates, and additional fees can vary widely.

Use a loan calculator: Many banks offer online calculators to help estimate monthly payments and the total cost of the loan.

Prepare documents
Prepare and gather the required documents, including but not limited to:

ID (passport or ID card).

Proof of residential address.

Proof of income (e.g., a recent pay stub).

Proof of employment (e.g., a copy of the employment contract).

Information on current financial liabilities.
Apply for a loan
After selecting a suitable offer, apply for a loan from the bank of your choice. This can be done online, by phone or in person at a bank branch.
Wait for approval
The bank will review your application, check your documents and assess your credit profile. This process can take anywhere from a few days to a few weeks.
Sign a loan agreement
If the loan is approved, you will be asked to sign a loan agreement. Read all terms and conditions carefully before signing.
Tips:

Planning: Make sure you can afford the monthly payments within your current budget.
Loan insurance: Consider purchasing insurance to cover the possibility of not being able to repay the loan due to illness, unemployment or other circumstances.
Additional fees: Be aware of additional fees or penalties for early repayment.
Getting a loan from a German bank requires careful preparation and understanding of the loan terms and conditions. Make sure you are fully aware of all aspects of the loan offer before accepting the loan.
Which international banks have branches in Germany?

Germany is home to many international banks’ branches, serving both corporate and individual clients. These banks offer a wide range of financial services, including corporate and investment banking, asset management, retail banking, and more. Here are some of the well-known international banks with branches in Germany:

Citibank
As one of the largest international banks, Citibank offers corporate and investment banking and asset management services in Germany.

HSBC
HSBC offers a wide range of banking services, including corporate finance, investment services, and retail banking, to both corporate and individual clients.

J.P. Morgan
J.P. Morgan offers corporate and investment banking, asset management, and private banking services in Germany.

Barclays
Barclays operates in Germany, offering corporate banking, investment banking, and asset management services.

BNP Paribas
BNP Paribas offers a full range of financial services in Germany, including corporate and investment banking, retail banking, and asset management.

Deutsche Bank
Despite being a German bank, Deutsche Bank has a significant international presence and offers a full range of international banking services.
Goldman Sachs
Goldman Sachs offers investment banking, asset management and private banking services in Germany.
UBS
UBS offers private banking, asset management and investment banking services in Germany.
These are just a few of the many international banks in Germany. Their services may vary depending on the specific market and client needs. Many international banks choose Frankfurt as one of the locations for their branches or subsidiaries in Germany, which is one of the largest financial centers in Europe.
Which new banks have opened in Germany?

There are several digital banks in Germany that offer innovative banking services, primarily through mobile apps and online platforms. These digital banks typically focus on convenience, transparency of services, and often offer lower fees than traditional banks. Here are some examples of popular digital banks in Germany:

N26
N26 is one of the most well-known digital banks in Europe and is headquartered in Germany. N26 offers full-featured bank accounts, international debit cards, support for multiple currencies, P2P transfers, and budgeting and savings tools.
Revolut
Despite being based in the UK, Revolut is widely used in Germany and offers multi-currency accounts, currency conversion at interbank rates, travel insurance, and investment options.
TransferWise (now Wise)
Wise offers multi-currency accounts with the ability to hold balances in different currencies, as well as low-fee international transfers. While it is not a full-featured bank, Wise is widely used for international transfers and foreign currency account management.
Vivid Money
Vivid Money is a non-bank that offers multi-currency accounts, investment products, shopping cashback, and cryptocurrency support.
Tomorrow
Tomorrow is a digital bank focused on sustainability, offering environmentally oriented banking products. Tomorrow invests in projects that support environmental and social sustainability.
Bunq
A digital bank based in the Netherlands, offering services in Germany, including multi-currency accounts, savings support, and group account features.
These digital banks offer a variety of financial products and services, including current accounts, savings, investments, and international transfers. They attract customers due to low fees, ease of use of mobile apps, and innovative features. However, when choosing a digital bank, it is important to consider its licensing and deposit protection level, as the terms and conditions may differ from those of traditional banks.

Bank account in Germany

How to Open a Bank Account in Germany: A Complete Guide for Foreigners

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Why you need to open a bank account in Germany

International bank account options in Germany

German bank account

Types of bank accounts in Germany

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German bank services for foreigners

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Foreign banks operating in Germany

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How to choose a German bank account

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How to open a bank account in Germany as a foreigner

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How to open a bank account for your child in Germany

What to do if your bank account application is rejected in Germany

Banking services in Germany

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Bank account management in Germany

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How to open a business bank account in Germany?

Opening a bank account in Germany as a non-resident

Why open a bank account in Germany?

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Bank account type

Required Documents

Open a German bank account online

Select bank and account type

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Offshore bank accounts in Germany

Advantages of opening an international bank account in Germany

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Opening a business bank account in Germany

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