Opening a Bank Account in Germany
The banking system for students in Germany is well-organized and essential for managing money, paying rent, receiving a salary, and handling the blocked account required for the student visa.
International students usually open a German bank account soon after arriving.
Main reasons:
- Receive a salary from part-time jobs
- Pay rent and bills
- Pay for health insurance
- Manage daily expenses
- Transfer money internationally
Many universities and landlords require payments through bank transfer (SEPA) rather than cash.
Types of Bank Accounts for Students
|
Account Type |
Purpose |
|
Current Account (Girokonto) |
Daily banking, salary, and payments |
|
Blocked Account (Sperrkonto) |
Required for a student visa: financial proof |
|
Savings Account |
An optional account for saving money |
The current account is the main account students use in Germany.
Blocked Account (Sperrkonto)
International students must show financial proof to get a German student visa.
Key Details
|
Item |
Amount |
|
Required yearly deposit |
€11,208 |
|
Monthly withdrawal limit |
€934 |
|
Purpose |
Provide financial support during studies |
This money is locked and released monthly to cover living expenses.
Common blocked account providers include:
- Expatrio
- Fintiba
- Coracle
Popular Banks for Students
Germany has many student-friendly banks offering free or low-cost accounts.
|
Bank |
Type |
Student Benefits |
|
Deutsche Bank |
Traditional bank |
Wide branch network |
|
Commerzbank |
Traditional bank |
Free student accounts |
|
N26 |
Online bank |
Fully digital banking |
|
Sparkasse |
Regional bank |
Many local branches |
|
DKB |
Online bank |
Free accounts with good online services |
Digital banks are popular because they are easy to open and manage online.
Monthly Banking Costs
|
Bank Type |
Monthly Fee |
|
Student account |
Usually free |
|
Standard account |
€3 – €10 |
|
ATM withdrawal |
Often free at partner banks |
Most banks provide free accounts for students under a certain age.
Payment Methods in Germany
Common ways students pay for things:
|
Method |
Usage |
|
Debit card (EC card / Girocard) |
Most common payment |
|
Bank transfer (SEPA) |
Rent and bills |
|
Cash |
Still widely used |
|
Mobile payment |
Increasingly common |
ATM Network
Germany has thousands of ATMs.
|
ATM Access |
Details |
|
Own bank ATM |
Free withdrawals |
|
Partner bank ATM |
Often free |
|
Other bank ATM |
€4 – €6 fee |
Major ATM networks include:
- Cash Group
- Sparkassen-Finanzgruppe
Mobile Banking
Most banks provide mobile banking apps.
Popular banking apps
|
App |
Bank |
|
N26 App |
N26 bank |
|
Commerzbank App |
Commerzbank |
|
Sparkasse App |
Sparkasse |
These apps allow students to:
- check balances
- transfer money
- pay bills
- manage cards.
Opening a Bank Account
Students typically need the following documents:
- Passport
- Residence permit or visa
- Address registration (Anmeldung)
- Student enrollment certificate
The account opening process usually takes 1–5 days.