10 of the Best Bank Accounts for English Speakers in Germany (2023)

Times are changing and what was once the “best bank” for English speakers last year might not actually be your best option moving forward. Regardless, opening up a bank account in Europe is one of the most important steps to ensure a seamless transition over to Germany.

(Video) The Best Bank Accounts in Germany for Expats & English Speakers in 2022

You’ll need that bank account opened and running before you can pay rent, sign up for a phone plan (some exceptions), or register for an electricityorinternet contract.

NOTE: Before you open up an account, always make sure you know what type of account you’re opening. If this is the first time you’re hearing of the words “Girokonto”, “Maestro-Karte”, or “EC Karte” then I’d suggest you hop on over to our Welcome Program and learn a bit more about the world of banking in Germany before moving forward.

So, here you have it! The best banks for English speakers living in Germany.

PS: If you do decide to go with a German bank, we also go through an in-depth German application together in the Welcome Program to get you set up for success.

(Video) Best Bank Accounts in Germany [2022 Update]

The 10 top-rated and best banks for English speakers living in Germany this year!

If you’re just looking for a quick answer, here you have it:

  1. N26: One of the most well-known mobile banks for ex-pats living in Germany that runs in several languages (English, of course)
  2. Wise Bank: For those who spend often in different currencies (also one of the only cards that accept American documentation)
  3. Kontist: The best mobile bank for English-speaking ex-pats who are self-employed
  4. TOMORROW: The English/German mobile bank which helps save our future and our planet
  5. Commerzbank: The #1 rated bank in Germany year after year (has physical branch locations & a mobile app)
  6. Revolut: The best bank for budget-friendly English speakers who love analytics and cryptocurrencies
  7. Comdirect: A beloved mobile banking service that runs in German but is amazing for families opening children’s accounts
  8. DKB: One of the most affordable and international mobile banks here in Germany
  9. Postbank: One of the most flexible online banking options in Germany – account switching, multiple withdrawal locations, etc.
  10. vivid:The best all-in-one bank for English or German speakers who want to bank, invest, and organize their savings/spending for free (this is my bank)

(Video) 💶 Best Bank Accounts in Germany [for English Speakers]

How do I open a bank account in Germany?

Thankfully, nowadays it is extremely easy to open up a bank account here in Germany (even if you haven’t moved here yet). We include a full extensive explanation in the Welcome Program if you’d like to check that out, otherwise, I’ll give it to you simply here.

Most banks today offer signup online. Even better, most account signups take less than 10 minutes (especially if you’ve chosen a mobile bank that’s run in the English language). Simply head to one of the websites mentioned above and you can get started. For branch locations (Santander, Commerzbank, Postbank) you can also open up your account at a branch location, though my guess is that they’ll just fill out the online form for you while you sit there.

You’ll need to provide proof of identification and sometimes also proof of residency/immigration to Germany. Not all, but some, may require scanned copies of your previous payslips, but most English mobile banks do not request this information.

Important things to look out for when picking your bank

Is there a monthly fee or any other fees involved?

While this may seem like the first thing you should be asking, I would also suggest that you check outwhy a monthly fee might be included or why not. Many of the banks that do charge a small fee are also offering premium services that you may not be getting with the free accounts.

(Video) German Banks for English Speakers

What languages do they run in?

Many of the banks mentioned in this article run not only in the German and English languages, but many more as well. If it is important for you to be banking in the English language, then make sure you choose one from the chart below that offers services in English. If you don’t mind managing your banking in German, then make sure you’re brushing up on a few German language lessons now. This might help: here are 10 of the best websites and apps to learn the German language.

Where can you withdraw money?

The biggest downside to mobile banking is that withdrawing money doesn’t have to be difficult, but can be difficult to understand at first. This is because many mobile banks offer various different ways to withdraw money. Some allow you to withdraw money at partner shops (for example Lidl, Aldi, DM, Rossman, etc.) while others allow you to withdraw money for free at various ATMs or partner bank locations.

Do you receive both a credit card and a debit card?

A debit card in Germany is called a “Girokarte/EC Karte” and your debit account is called a “Girokonto”. A credit card is quite simply translated to “Kreditkarte” so this one should be easy to manage. If you would like to make sure you also receive a credit card with your signup, make sure you check beforehand (or down below). You may also be particular about whether a Visa or Mastercard is provided, you can check this too.

Do they have a branch location or is it just run online/via app?

If this is something that is important to you, make sure you check beforehand (or down below). Not many banks (from our list only Santander, Commerzbank, and Postbank) offer branch locations, simply because mobile banking has become so easy to manage for people of all ages today.

(Video) Best German bank accounts in 2023 for foreigners

So now that you know what you need to be looking out for before you pick a bank that works for you, let’s get into the comparisons of the different bank options that you have here in Germany.

The best banks for English speakers living in Germany | COMPARISONS

English SupportFree AccountFree Credit CardWithdrawal LocationsWithdrawing MoneyApple/Google PayNo Exchange Fees
Kontist✓ Visa-DebitAll worldwide ATMs with Visa logo✓ 50 times/month✓ Google & Apple PayX
Wise BankingXAll worldwide ATMs (surcharge may apply)✓ 2 times up to 200€/month✓ Google & Apple Pay
TOMORROW✓ Visa-DebitAll worldwide ATMs with Visa logo✓ 3 times/month✓ Google & Apple PayX
Commerzbank ✓ - not on signup though✓ - if you earn an income and have a min. of 700€ in your accountXAll Cash Group ATMs✓ Google & Apple PayX
N26✓ Virtual MastercardAll NFC-enabled ATMs✓ 3 times/month✓ Google & Apple PayX
RevolutX55,000+ surcharge-free ATMs✓ up to 200€/month✓ Google & Apple Pay
ComdirectX✓ under 28 years or if you actively use account✓ Visa-DebitAll worldwide ATMs with Visa logo✓ 3 times/month✓ Google & Apple Pay
DKBX✓ VisaAll worldwide ATMs✓50-1,000€✓ Google & Apple Pay
PostbankXX – 1,90+X10,000+ (Shell gas station, Commerzbank, Deutsche Bank, HypoBank, all shops partnered with the Cash GroupX
vivid bank✓ VisaAll worldwide ATMs with Visa logo✓ Google & Apple Pay

PS: You’re going to need to transfer some money into your new account shortly, so take a look at our list of The Best Options for International Money Transfers to/from Germany.


Which bank is best in Germany for English speakers? ›

Commerzbank: The #1 rated bank in Germany year after year (has physical branch locations & a mobile app) Revolut: The best bank for budget-friendly English speakers who love analytics and cryptocurrencies.

Which bank is best for US citizens in Germany? ›

If you speak German, look at DKB and ING. People often recommend them. If no banks accept your passport, try Deutsche Bank. Online banks like bunq, Monese, Revolut and Wise also accept more passport types.

Which bank is best for foreigners in Germany? ›


For the third year in a row, it was voted the best branch bank in 2020. It is a private bank and part of the Cash Group (Commerzbank, Deutsche Bank, HypoVereinsbank & Postbank). In the past years, Commerzbank has invested heavily to keep up with current trends and to also appeal to foreigners.

Can I open a German bank account as an American? ›

Yes, foreigners can open German bank accounts. However, you'll often be asked for a German proof of address, or at the very least an address from another Eurozone or EEA country. If you're still based in the US a flexible multi-currency account from a specialist provider like Wise or Revolut may be a better option.

What is the best bank to use in Germany? ›

Here are the best banks in Germany:
  • Norddeutsche Landesbank. ...
  • Landesbank Baden-Württemberg. ...
  • KfW Bankengruppe. ...
  • ING-DiBa. ...
  • DAB BNP Paribas, Munich. ...
  • N26. ...
  • Sparkasse. ...
  • Volksbank. 'Volksbank' translates to 'people's bank', and there are several European banks that operate under this name.

What US bank operates in Germany? ›

J.P. Morgan has operated in Europe for nearly 200 years and has a sophisticated local market presence across Europe, the Middle East and Africa (EMEA).

Are there any American banks in Germany? ›

us bank Frankfurt, Hessen, Germany.

How much is it to open a German American bank account? ›

Checking Comparison Chart
Minimum to Open$100$100
Monthly Service FeeFor a low $7.00 account maintenance fee, this account can pay for itself if you use the benefits.Enroll in eStatements to avoid a $3 monthly paper statement fee.
Learn More Open AccountLearn More Open Account
7 more rows

Which is the safest bank in Germany? ›

The best bank in Europe is KfW in Germany, which was voted number one in the list of the 50 safest banks in Europe 2023.

Can I open bank account in Germany without address? ›

You typically need to have a permanent address in Germany to open an account. Many online-only and mobile-only German banks also offer accounts to those living overseas. These are useful for those planning to move to Germany or those who work in Germany.

Which German banks don't require residence permit? ›

Those who're looking to save money; For those without proof of residence in Germany, we recommend banks like N26, Bunq, or Monese, which don't require it for registration.

Can I open a bank account online without going to the bank in Germany? ›

Open an online account in just 8 minutes—all you'll need is your smartphone, a valid address in Germany, and a valid photo ID. You'll get an official German IBAN, so you can pay and be paid like a local.

Which is the German No 1 bank? ›


As per the last report of 2021, Deutsche Bank has acquired total assets of €1.324 trillion. The headquarters of Deutsche Bank is in Frankfurt. It was established in 1869, almost 152 years ago, and has employed around 82,969 employees (2021).

What is the top 1 bank in Germany? ›

Following are the largest banks in Germany ranked by total assets, in billions of euros. The biggest four banks are Deutsche Bank, Commerzbank, KfW and DZ Bank.

Can I use my US bank card in Germany? ›

Yes. Cards issued by U.S. Bank can be used in most foreign countries for transactions.

Do American debit cards work in Germany? ›

Debit cards from any major US bank will work in any standard European bank's ATM (ideally, use a debit card with a Visa or MasterCard logo). As for credit cards, Visa and MasterCard are universal, American Express is less common, and Discover is unknown in Europe.

Can a US citizen own a foreign bank account? ›

And, while it is absolutely legal to own a foreign bank account, there are some additional reporting and tax requirements that US persons should be aware of so that they can remain in IRS tax and reporting compliance and avoid unnecessary fines and penalties.

What money is best to use in Germany? ›

Germany uses the popular euro, so your travel money will stay super simple.

Which bank is best for expats? ›

Here are the best banks for digital nomads and expats in 2023:
  • Revolut — Best overall digital nomad bank account.
  • Wise — Best multi-currency account for digital nomads.
  • N26 — Best fully-licensed neobank in Europe.
  • Chime — Best fee-free ATM access for Americans.
  • Starling Bank — Best international UK bank account.

Which is better Bank of America or Deutsche Bank? ›

Deutsche Bank scored higher in 7 areas: Overall Rating, Culture & Values, Work-life balance, Senior Management, CEO Approval, Recommend to a friend and Positive Business Outlook. Bank of America scored higher in 1 area: Compensation & Benefits. Both tied in 2 areas: Diversity & Inclusion and Career Opportunities.

Does Chase bank operate in Germany? ›

JPMorgan Chase is planning to launch a digital bank in Germany in late 2024 or early 2025, Bloomberg reported Wednesday, citing people familiar with the plans.

Which USA bank is for international? ›

Here are our favorite banks for international travel. Charles Schwab Bank: Best for using ATMs. Capital One 360: Best on foreign transaction fees. HSBC Bank: Best for expats with high balances.

Does Chase bank work in Germany? ›

We were the first foreign bank to open a branch in Frankfurt, so we're heavily involved in this financial hub. Our teams support a variety of businesses, from Investment Banking to Asset Management. Find the team that's right for you.

Can you transfer money from an American bank to a German bank? ›

Money can be deposited to any German bank account including Deutsche Bank, Postbank, Commerzbank, and Sparkassen. Most money transfers are deposited within two business days. A recent example, using Xoom's online calculator: Transfer $1200 from a US bank to a German bank for a total cost of $1204.99.

What is Germany's dumbest bank? ›

In September 2008, as investors were scrambling to get their funds out of Lehman Brothers, KfW accidentally wired €320 million ($426 million) to Lehman; Germany's largest circulation newspaper, Bild, called KfW "Germany's Dumbest Bank" at the time. The bank subsequently fired two board members over the transfer.

Is German American Bank a good bank? ›

With a score of 3.9 stars out of 5, German American Bancorp should be near the middle of the pack in your search for a bank.

How much does it cost to have a bank account in Germany? ›

However, current accounts in Germany can range from none to 5€ per month. Although debit cards are typically free, credit cards can go up to 100€ per year. The cost of using ATMs depends on the bank your account belongs to. Typically, using an ATM is free.

Does German American Bank have free checking? ›

The e-$MART Checking account is a no-frills account that has no monthly maintenance fee when you enroll the account in eStatements.

What is the interest rate for German bank savings? ›

simple interest rate of 7.50% p.a.

Where to keep money in Germany? ›

Choose a bank with low fees

It's usually around 10€ per month. Some banks also charge you a fee when you use another bank's ATM. There are many banks with no monthly fees, and no ATM fees. N26, ING and DKB are the most popular ones, but there are many other options.

How many bank accounts should I have Germany? ›

Three current accounts at three different banks is the basic requirement for a business person in Germany. As an entrepreneur you should open the following accounts: A business current account/Girokonto at a Sparkasse, A second business Girokonto at a second bank.

What documents do I need to open a bank account in Germany? ›

To open a bank account, you usually require the following documents: a valid passport, a residence permit, a certificate of registration, and a wage statement (depending on the type of account).

Do I need a German tax ID to open a bank account? ›

To apply for a bank account in Germany, you need the following documents: Your ID card or passport. Proof of address registration or Meldebescheinigung (a registration certificate you must get within 14 days of living at your new address in Germany) German tax ID number.

How much tax do I pay on a savings account in Germany? ›

Tax on savings and investments

Savings and investments are subject to tax in Germany. Income from dividends and interest are taxed at a flat rate of 25%, plus a 5.5% solidarity surcharge. In total, this comes to 26.5%. Single taxpayers have an annual investor's allowance of €1,000.

Do we need tax ID to open bank account in Germany? ›

To start the bank account opening procedure, you'll require the following documents: Europe ID card or passport. Official registered address in Germany. German Tax ID number (Steuer-ID)

Can a US citizen get a residence permit in Germany? ›

Citizens from some countries (including the USA, Canada, Australia, Japan, Israel, New Zealand and Switzerland) are allowed entry into Germany without a visa and may apply for a residence permit while in the country.

How much money do you need for a residence permit in Germany? ›

Completed job description form—also known as the Stellenbeschreibung. €50 to €110 application fee, depending on the complexity of your case.

Do US citizens need a residence permit in Germany? ›

A residence visa is required if you intend to stay in Germany for more than 90 days for work or study or if you intend to move to Germany permanently.

How to get a German bank account online? ›

Apply online 8 minutes:
  1. Fill out application form.
  2. Download mobile app.
  3. Verify your identity via video call; you need your passport/ ID for this.
  4. After the video call, you will get your bank account number instantly. Start receiving money right away!
  5. Receive debit / credit cards within a few days.

How can I send money to Germany without a bank account? ›

A money sending bureaux

A money sending bureau is another service that will enable you to transfer money to Germany. They can be an ideal alternative to transferring money through a bank as they often provide online services which make this a fast and easy way to transfer money to Germany.

What is the minimum balance in Deutsche Bank? ›

Easy balance requirement

With Value-Plus Savings Account you have the freedom to either maintain a minimum Average Quarterly Balance (AQB*) of Rs. 1 lakh in Savings Account or a minimum Assets Under Management (AUM**) of Rs. 1.5 lakh enjoy the various privileges of a Value-Plus Savings Account.

What is the largest online bank in Germany? ›

We recommend Revolut if you're looking for a smart digital alternative to traditional banks since it's probably the most complete online bank in Germany. If you sign up with our link below, you'll get a €10 top-up for free!

Which bank is best to open account in Germany? ›

Here are the best banks in Germany:
  • Norddeutsche Landesbank. ...
  • Landesbank Baden-Württemberg. ...
  • KfW Bankengruppe. ...
  • ING-DiBa. ...
  • DAB BNP Paribas, Munich. ...
  • N26. ...
  • Sparkasse. ...
  • Volksbank. 'Volksbank' translates to 'people's bank', and there are several European banks that operate under this name.

Which bank is used most in Germany? ›

All of them are headquartered in Frankfurt. Deutsche Bank is the largest bank in the country, totaling over 1.32 trillion euros in assets.

Which is better HSBC or Deutsche Bank? ›

HSBC had 563 more reviews than Deutsche Bank that mentioned "Good working environment" as a Pro. HSBC had 258 more reviews than Deutsche Bank that mentioned "Long working hours" as a Con. Extremely well structured in terms of business deliverable, projected strategy implementation and improvements.

Can I open a bank account in Germany as a tourist? ›

While EU nationals will have no problem opening a simple bank account with a German bank, non-EU nationals have to prove their registration in Germany along with a German work permit. Banks are not obliged to open a bank account for you. You may face difficulties if you cannot show a financial history.

Does my American debit card work in Germany? ›

Debit cards from any major US bank will work in any standard European bank's ATM (ideally, use a debit card with a Visa or MasterCard logo). As for credit cards, Visa and MasterCard are universal, American Express is less common, and Discover is unknown in Europe.

Which online bank account is best in Germany? ›

Best Online Banks in Germany
  • Best current account — N26.
  • Best for sustainable banking — Tomorrow.
  • Best all-rounder — Revolut.
  • Best for foreign currency spending — Wise.
  • Best paid current account — bunq.
  • Best for cashback — Vivid Money.
  • Best EUR account for UK residents — Starling Bank.

Do I need a German address to open a German bank account? ›

Documents You'll Need To Open A German Bank Account

German residence visa; The completed account application form; An Anmeldung (proof of address); Proof of employment or income.

What documents are required to open German bank account? ›

  • Open a bank account. To open a bank account, you usually require the following documents: a valid passport, a residence permit, a certificate of registration, and a wage statement (depending on the type of account). ...
  • Online banking. Many people conduct their banking transactions via online banking. ...
  • Cashless payment.


1. Best FREE BANK ACCOUNTS in Germany (For English Speakers)
(Ahsan Finance)
2. Best Banks in Germany for International Students
3. Best FREE Bank Accounts in Germany (for 2023)
(Ahsan Finance)
4. Best Bank In Germany | Which Bank Should You Choose?
(Germany2GO - Banking, Insurance & More In Germany)
5. The Best Banks in Europe for Cashback, Crypto, Current Account & MORE
(Life in Germany)
Top Articles
Latest Posts
Article information

Author: Geoffrey Lueilwitz

Last Updated: 02/26/2023

Views: 5705

Rating: 5 / 5 (80 voted)

Reviews: 95% of readers found this page helpful

Author information

Name: Geoffrey Lueilwitz

Birthday: 1997-03-23

Address: 74183 Thomas Course, Port Micheal, OK 55446-1529

Phone: +13408645881558

Job: Global Representative

Hobby: Sailing, Vehicle restoration, Rowing, Ghost hunting, Scrapbooking, Rugby, Board sports

Introduction: My name is Geoffrey Lueilwitz, I am a zealous, encouraging, sparkling, enchanting, graceful, faithful, nice person who loves writing and wants to share my knowledge and understanding with you.