Opening a bank account in Germany is probably one of the first things you need to do after arriving. While you can use your credit card from our home country to pay for most things, some institutions require a German bank account (or a EC card) for payment. Furthermore, you will need a German bank account in oder to access the money from your blocked account (in case you opened one for visa purposes). German bank accounts are usually free of charge for students enrolled at a German university.
Requirements for opening a bank account varies, unfortunately, by bank (and partly also by the respective branch of each bank) and your nationality. In most cases, you will need your passport, a confirmation of study (you can get that from Student Services) and your city registration (Anmeldung). There are also some cases, in which banks do not require an Anmeldung and some cases, in which banks require a valid residence permit. We don’t have any cooperation with any banks, however, many students have had good experience with Sparkasse.
Physical vs. Online banks
In Germany, banks with physical branches as well as online banks (with no physical offices) exist. It always depends on the personal preference of each individual, which type of bank to choose. You will be able to manage your money and do transactions via apps in both cases.
<aside> 💡 Important: Have a look at the conditions for withdrawing money! In many cases, withdrawing money from an ATM that doesn’t belong to your bank or is not associated with in, may come with an additional fee. If so, make sure that an ATM of your bank is close to your home, the university or other places you frequently visit.
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