Thanks in advance. However you’ll always have to pay a fee of 1.5% for every cash deposit. Information in regards to § 18 Abs. Check out for example Hypofriend. Dear Ada, After my registration I was able to open a bank account with N26. Dear Faten, Top 30 companies of Germany in the DAX index 2019 The largest companies in Germany greatly influence the country and world economy.    Apple Pay supported Otherwise a monthly fee of 4,90 EUR applies. The “DKB-Cash“ bank account is one of the best German bank accounts in terms of the conditions offered. Depositing up to 100 EUR is free of charge, for deposits greater than 100 EUR a fee of 1.5% applies. And don’t worry about changing your bank account… Both, Commerzbank and N26 offer a free bank account switching service.    Completely free of charge (no monthly/annual fees) Thanks a lot, this article saved a lot of time for me! if you have already an account at Deutsche Bank it definitely makes sense to check their loan offerings. As long as you are a resident in Germany you can open a bank account. By total assets. My suggestion would be to open the bank account easily online. Imprint / Impressum You can furthermore use the VISA card for online and offline shopping. Good Luck.    Branch offices with personal advice (often in English) I used this bank account for 2 years then I moved to Germany for Master studies then I registered my address in September 2018. As mentioned above please feel free to post a comment to this post or send a message via the contact form if you need further help. if you are from Brazil you need to provide your passport and your German resident permit. I have no job but I received regularly cash money. I live in germany since one month, i study here and i also started to work. Free Credit Cards in Germany List of Free Credit cards for review and easy to apply for a foreigner. Best Banks In The World 2019: Banking Transformed Advertisement Global Finance presents its 26th annual awards for the World’s Best Banks, honoring winners in 149 countries and seven global regions, as well as eight regions of the US. – DKB (DKB-Cash u18) 1. I would therefore recommend to go for a normal bank account that is free of charge. For example at DKB bank foreign transaction fee is payable for passive customers. My wife and I have arrived recently in Germany to visit a language course. 2. Outside of the eurozone you can use your credit card to get cash free of charge at any ATM. If you are registered in Germany and have a “Meldebescheinigung” you can easily open a bank account. There are plenty of providers on the market and I will actually publish a comparison of brokerage accounts soon. Dear Sunil, If you do not get a bank account at N26 just go to a local bank (e.g. 25 Digital-Only Banks to Watch Subscribe Now Get The Financial Brand Newsletter for FREE - Sign Up Now Check out this round up of digital banks from around the world and see how these pioneers are redefining the banking industry by connecting with a new generation of mobile-first consumers. Thanks. Hello , thank you for the article very helpfull .    Apple Pay & Google Pay supported you do not receive payments of at least 700 EUR/month, the conditions of “DKB-Cash” are still very good. Hi Dominik please l will like to ask this question l have lived in Germany for the past 6 years now but for the 2 years am not working now I get my money from the government that’s jobcentre Hello. as a student above 30 you usually do not qualify for a free student bank account with most banks. The list of 30 largest European banks ranked by total assets is given below; the data are provided as of December 2019 in EUR bln. These sub-accounts can even be in foreign currencies and you can exchange up to 40 currencies at live exchange rates. Really appreciate your effort. Learnt more about how banks work here. Initially, I checked N26 but they require that I provide the passport and residence permit for verification. That’s an offer! I wonder if other banks (e.g DKB, Santander etc.) I opened a N26 bank account meanwhile, but now I was looking into traditional banks about current accounts that gives you benefits if you link your salary to it. Although they don’t have local branch offices you can still deposit cash money on your bank account as N26 have partnered up with a company called “Barzahlen”. Germany’s banking system comprises three pillars — private commercial banks, public-sector banks, and cooperative banks — distinguished by the legal form and ownership structure. If you meet these requirements you can open your Deutsche Bank account here. Dear Wali, Dear Alexey, Should you have any further questions, please feel free to ask. Just go to a Deutsche Bank branch office close to you and ask them. As this question was asked a lot, a new article about the basic payment account (Basiskonto) has just been published: https://www.germanymore.de/how-to-open-a-basic-payment-account-basiskonto-in-germany/. Their online banking is also available in English and they often have English-speaking staff in their branch offices (especially in bigger cities). FRANKFURT BRANCH/ FILIALE FRANKFURT AM MAIN, BANK OF CHINA LIMITED Zweigniederlassung Frankfurt am Main Frankfurt Branch, Bank of Communications Co., Ltd. Frankfurt branch, Bank Saderat Iran Zweigniederlassung Hamburg, Banque Chaabi du Maroc S. A. Zweigniederlassung Deutschland, Barclays Bank Ireland PLC Frankfurt Branch, Bausparkasse Schwäbisch Hall AG, Bausparkasse der Volksbanken und Raiffeisenbanken, BGL BNP Paribas S.A. Zweigniederlassung Deutschland, BNP Paribas Fortis SA/NV Niederlassung Deutschland, BNP PARIBAS LEASE GROUP S.A. Zweigniederlassung Deutschland, BNP Paribas S.A. Niederlassung Deutschland, BNP PARIBAS Securities Services S.C.A. 31 December 2018 Hi Brett, Is it possible to open an account in Commerzbank today if my job starts only on 02.09.2019? In general there is a deposit insurance within the European Uniont that protects private deposits up until 100,000 EUR.    Open your account easily from your smartphone via VideoChat The bank account comes with a girocard debit card and a Visa debit card. …germanymore.de is a portal giving advise to foreigners living in Germany in regards to bank accounts, credit cards etc. My qst is: Banks incorporated in Romania Retail banks (foreign-owned banks) ... 1 January 2019 Sold its assets and liabilities to Marfin Bank (now known as Vista Bank) in 2013, and closed in 2018. The information available on this date is used to compile the full world and country rankings. Hi, what type of bank account do you recommend for children with the intent of saving for the future? Is it transferable?    Open your account easily from your smartphone via VideoChat Deutsche Bank AG (Germany, 1.77 trillion) Bank of America NA (USA, 1.75 trillion) Wells Fargo Bank NA (USA, 1.74 trillion) Banco Santander SA (Spain, 1.73 trillion) Sumitomo Mitsui Banking Corp. (Japan, 1.62 trillion) Banco Provincial SA Banco Universal (Venezuela, 1.58 … – comdirect (JuniorGiro). thanks for sharing your experience on opening a bank account in Germany. Zweigniederlassung Deutschland, CNH Industrial Capital Europe S.A.S. A friend who comes regularly to Germany as a tourist and holds a 3-year schengen Visa needs such account to save his money and facilitate his shopping across EU. The fifth major UK-based bank, Standard Chartered, operates primarily in Asia and Africa. They have a lot of branch offices in Germany and often with English-speaking staff. If you need help opening a bank account just leave a comment or send us a message via the contact form. However as you have shared custody for your daughter, both parents will have to sign the banking agreement. Banco Santander. However I would recommend to separate your business finances from your private finances.    Free debit card and free credit card with contactless payment (Visa) You can find more details about the basic payment bank account here: https://www.bafin.de/EN/Verbraucher/Bank/Produkte/Basiskonto/basiskonto_node_en.html, A bank offering a free basic bank account is for example DKB. Persons without a residence permit who cannot be deported due to legal or factual reasons (persons with a suspension of deportation) are also entitled to hold such an account. there are some local banks such as Sparkasse or Volksbank that offer something similar (e.g. In addition some private & public banks (e.g. DBS is the epitome of a regional bank that is clearly world class in what it does. For cash withdrawals at non-CashGroup ATMs and ATMs outside of Germany a fee applies. customized reports Most of them are completely free of charge. This is definitely an interesting topic and I will soon post a dedicated article about bank accounts with sub-accounts. knowing that we are not working here and with no monthly salaries. Today, Germany is the fourth largest shareholder of the World Bank. well… Deutsche Bank is at the moment definitely not in the best shape but in my eyes far away from bankrupting. They have both exactly the same conditions is just a matter of marketing. Dear Samuel, if you pay in dollars). Dear Shaheera, It offers an app-based bank account that comes with a lot of nice features. Car loan – given the sheer amount of car loan providers on the market, it’s difficult to judge which one is THE best one. I recently opened an account with ING and I wondered if you could go into more detail about the cards you Get. That’s all i wanted to share that it may vary for individuals. Thanks a lot! ICBC, a state-owned commercial bank, is the largest bank in the world in terms of total assets, deposits and number of employees. Dear Gligor, I’m planning to shift my account from a Sparkasse to N26 soon and your detailed article helped me a tremendously. I’m really sorry to hear that you have made bad experiences with opening a bank account in Germany, especially given the fact that everybody in Germany is entitled to have a basic bank account. I am a English speaker and learning German but wish to either manage my account on line or visit a English speaking branch to further develop my banking in Germany.. Regarding your questions: 1.    Cash withdrawals outside of the Eurozone cost 1.7%. In my view DKB offers one of the best packages when it comes to joint accounts. Could you please advise my about Deutsche Bank account? Furthermore the app automatically categorizes your transactions so that you can easily keep track of your financials and you can set up sub-accounts (so-called “Spaces”) to put for example money aside. Will you help or give me some advice Mr. Dominik? salary, pension, student allowance or government benefits) for two consecutive months. I wonder what is best banking option for us? 1- What bank is the best when it comes to Car loans and Private loans as well? Is there an obligation for a person/a bank to close a bank account if a person leaves Germany or could be kept open? 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