Opening a Bank Account — Girokonto for Foreigners

Why do you need a German bank account?

Without a German Girokonto (bank account), almost nothing works in Germany:
- Receiving salary
- Transferring rent
- Paying radio and television fees, insurance
- SEPA direct debits (automatic debits)

Basic Account — Your Right

Since 2016, every person with legal residence in Germany has the right to a Basiskonto (§ 31 Zahlungskontengesetz). Banks cannot reject you without a valid reason.

What does the basic account offer?

• Sending and receiving transfers
• Standing orders and direct debits
• Girocard (EC card)
• Online banking
• No credit line (no overdraft)

Required Documents

• Valid ID (passport, residence permit, toleration or arrival certificate)
• Registration certificate (registration at the town hall)
• Tax identification number (at some banks)

Options

Branch Banks

• Sparkasse, Volksbank, Commerzbank, Deutsche Bank
• Advantages: personal advice, cash machines
• Cost: approx. €3–10/month

Online Banks (free or cheaper)

• N26, DKB, ING, Comdirect
• Account opening via video identification (smartphone + ID)
• Often free (€0/month)
• Limitation: Some only accept EU IDs for video identification

SCHUFA and Creditworthiness

SCHUFA is a credit reporting agency that stores your creditworthiness. As a newcomer, you have no SCHUFA entry — this is not a problem for a basic account, but can matter for credit cards or installment purchases.

Tips

• Open your account as soon as possible after registration
• Branch banks are more helpful with language barriers
• Request a basic account if a bank refuses you — they must grant it

Status: March 2026. All information without guarantee.