The German banking industry consists of about 1.500 banks. That is an insane amount. In this guide, I will highlight the best bank in Germany based on different banking needs. I aim to help you choose the bank and checking account (Girokonto) that fits your preferences and life circumstances best.
Key Takeaways:
These are the best banks in Germany according to the latest nationwide test done by the German economic journal €uro:
- Overall Best Bank in Germany: Comdirect
- Best Branch Bank in Germany: Commerzbank
- Best Bank Account in Germany: C24
- Favorite Bank in Germany: ING
These are the best banks in Germany for expats based on our survey, research and experience:
- Best Bank for Expats in Germany: Commerzbank & N26
- Best Bank for Students in Germany: Commerzbank & N26
- Best Bank in Germany for Savings: Consorsbank
- Best Mobile Bank in Germany: N26 & C24
Best German Banks for Foreigners
Having a bank account in the country where you live is a basic need. However, everyone’s banking preferences are different. Especially when considering the unique needs of foreigners living in Germany.
These are the most popular banks in Germany for foreigners:
- N26
- Commerzbank
- Deutsche Bank
- Sparkasse
- ING
- DKB
- Volksbank
- Vivid
- C24
- Comdirect
The above list is the result of our banking survey of foreigners living in Germany.
Now, let’s take a look at their different features so you know what to expect from them.
German Banks with English Banking Offer
All the banks listed below are German banks offering their banking app in English. Some also offer English customer support, while others mainly offer German support:
- N26 – 100% English
- Commerzbank – Partial English
- Tomorrow Bank – 100% English
- Vivid Money – 100% English
- Deutsche Bank – Partial English
- Sparkasse – Partial English
- DKB – Only banking app in English – everything else German
Being able to handle your money in a language you feel comfortable in is super important. That is why I have written an additional guide comparing the best bank accounts in Germany for English Speakers in every detail.
Read Our Related Guide
Best German Mobile Banks
The majority of internationals in Germany prefer to handle their banking via a mobile app.
N26 remains the favorite bank amongst expats. However, C24 is becoming more and more popular. Even though everything is in German, they offer the most free perks.
Vivid Money and Tomorrow Bank are also mobile banks who offer all of their services in English, however, they are not as popular.
Best German Traditional Banks with Branch Offices
Do you prefer to do your banking with a traditional bank that also offers physical branches? Here are the most popular traditional banks amongst foreigners:
- Commerzbank – free account with €700 euros monthly income
- Deutsche Bank – monthly fee
- Sparkasse – monthly fee
- Volksbank – monthly fee
In my opinion, Commerzbank has the most consumer-friendly offer as a branch bank. We wrote a detailed guide that guides you through the German sign-up process. Once signed-up, you have access to the English banking interface.
Read Our Related Guide
How To Open A Commerzbank Account Online [Step-By-Step English Guide]
Best German Bank for Students
A lot of traditional German accounts offer special free accounts for students until a certain age. These are the best German bank accounts for students:
- Commerzbank Startkonto – free until 27 years + free credit card
- N26 Standard – always free
- Deutsche Bank: Das Junge Konto – free until 30 years
- ING Studenten Girokonto – free until 28 years
Best Bank in Germany for Savings
Some German checking accounts (like the one from C24) offer interest on money in the bank. However, this is rather an exception. Most Germans either use a savings account (Tagesgeldkonto) or an investment account (Depot) to save or invest their money.
Popular banks for a savings account are Consorsbank and Comdirect. Please read our detailed guide below to learn more about savings accounts in Germany.
Read Our Related Guide
If you would like to invest money in the stock market, you need to open a securities account. It is called Depot in German. Commerzbank offers a free Depot in English language. However, there are other mobile solutions on the market in Germany as well. For more information, you can read our guide below:
Read Our Related Guide
Important: your nationality & residence status matter
Not all banks listed above may be accessible for you. Your nationality and residence status play a big role. Mobile banks have strict lists of which passports they accept.
To help you navigate which bank may be accessible to you, we have built Banky. Answer 3 questions and it will guide you to a bank that will most likely accept you as a customer.
If you come from a country that is currently sanctioned (e.g., Iran or Russia), most banks will reject you. Your best bet is to visit a traditional branch bank like Sparkasse in person to ask whether they can open an account for you.
Requirements for a German bank account
In order to open a German bank account, you need to be in Germany. You can’t open a German bank account from abroad.
Here are the must-have requirements to open a German bank account:
- A German address (ideally with city registration)
- A German mobile number (for mobile banks only)
- A valid passport
If you are from a non-EU country, you may also need to present:
- Your visa/residence permit (varies between banks)
European Expat-Friendly Banking Solutions
For some nationalities, it is often easier to start with a bank account outside of Germany, which has fewer requirements (e.g., no residence permit).
Wise (Belgian bank account) and Revolut (Lithuanian bank account) are the two favorite options.
Next to offering an account in euros, they also offer accounts in other currencies. That makes them great for travel and money-transferring services as well.
Our experience with German banks
My wife and I look for the following features in a bank account:
- No monthly fee
- Free cash withdrawals (ideally worldwide)
- Free banking cards (ideally 1 girocard and 1 Visa or Mastercard debit card)
- Modern banking app
- Great customer service
I use a combination of Commerzbank and DKB for more than 10 years and they fullfill my above criteria.
Jen, my wife, uses a combination of N26 and Comdirect for more than 5 years now and they fulfill our above criteria as well.
FAQs
Do you need a German bank account when living in Germany?
Yes, you need a German bank account when living in Germany. I know for a fact that some employers only send your salary to a German bank account.
Also, some service providers, such as internet and electricity companies, don’t accept foreign bank accounts for direct debit payments.
Which debit card is best in Germany?
The most accepted debit card in Germany is the girocard. It is a specific German banking card. Some restaurants and smaller shops only accept cash or girocard payments. The second most accepted debit card is either a Visa or Mastercard.
Can you have more than one bank account in Germany?
Yes, you can have several bank accounts in Germany. In fact, a combination of a mobile bank like N26 and a traditional bank like Commerzbank complement each other best.
Don’t try to open too many bank accounts at once, though. This might affect your Schufa, the German credit score negatively.
