If you are planning to emigrate to Germany, it is important to have a bank account. Here is a comprehensive, detailed and easy-to-follow guide on how to open a bank account in Germany.
Revolut
Revolut is a fintech that offers a digital bank account with advanced features to manage your money. It allows you to make international payments, exchange currencies and receive a European IBAN. Revolut also provides a physical and virtual debit card for purchases and ATM withdrawals.
Here are the steps to open an account with Wise
Start the registration at Revolut: Download the Revolut app from This Link. Open the app and select "Start" to begin the process.
Complete the registration form: Provide your phone number, full name, email address and a password.. In addition, you have to enter your physical address in Germany.
Verify your identity: Revolut requires you to verify your identity to enable your account. Upload a photo of your identity document (ID card, passport or residence permit) and a selfie to complete this step.
Open your euro account and get your IBAN: Once your account is verified, Revolut assigns you a European IBAN, which can be Lithuanian (LT) or Irish (IE). In some cases, for customers in Germany, a German IBAN (DE) can be obtained.
Apply for your debit card: From the app, you can order a physical card and also generate virtual cards for online purchases. The physical card is sent by post to the address you registered.
Account activation and use: With your IBAN active and the card enabled, you can receive payments, transfer money, pay at merchants and withdraw cash at ATMs.
Questions and Answers:
How long does it take to activate the account?
Registration and verification is usually completed within a few hours, although in some cases it can take up to 24 hours.
Can I use Revolut to receive my salary in Germany?
Yes, as long as you have a compatible IBAN (ideally a German IBAN). In most cases, German employers will accept the Revolut IBAN.
Does Revolut charge any maintenance fees?
It depends on the plan you choose:
- Standard: Free
- European IBAN
- Virtual and physical card (there may be a delivery charge).
- Foreign exchange at the actual exchange rate (with a monthly limit).
- Free ATM withdrawals up to €200 per month (after which commission applies).
- Plus: 3,99€ per month
- Everything in the Standard plan.
- Purchase protection (extended refunds and returns).
- Priority customer service.
- Premium: 9,99€ per month
- Everything Plus.
- International health insurance
- Access to a higher foreign exchange limit without commissions
- Access to airport lounges if there are flight delays.
- Metal: 16,99€ per month
- All Premium
- Exclusive metal card.
- Refunds of 0.1% (in Europe) and 1% (outside Europe) on card payments.
- Higher limits on free ATM withdrawals.
- Standard: Free
Does Revolut provide a debit card?
Yes, Revolut offers physical and virtual cards to pay in shops, online and withdraw cash.
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Wise
Wise is a digital financial platform that allows you to open a multi-currency account to manage your money in different currencies. It is very popular for its low fees when making international transfers and for offering local banking data in multiple currencies, including the euro.
Here are the steps to open an account with Wise
Start registration at Wise: Click on this link and select "Register" to start the process.
Complete the registration form: Please provide your full name, email address and set a secure password. In addition, you will need to select your country of residence to ensure that Wise assigns you the appropriate bank details.
Verify your identity: Wise requires verification of your identity before your account is enabled. To do this, you will need to upload photos of your identity document (ID card, passport or residence permit) and, in some cases, proof of address, such as a utility bill or rental contract.
Open a euro account: Once inside Wise, go to the "Balances" section and click on "Open a new balance". Select the "EUR - Euro" option to receive your European IBAN.
Request a German IBAN: By default, Wise assigns a Belgian IBAN (BE), but you can request a German IBAN (DE) if necessary. To do so, please contact Wise support explaining that you need a German IBAN to receive your salary or make transactions in Germany.
Account activation and use: Once you have received your IBAN, you can start receiving payments and transferring money to other accounts. You can add funds by bank transfer, credit card or debit card.
- Questions and Answers:
How long does it take to activate the account?
The verification process can take anywhere from a few hours to a few days, depending on the documentation submitted.
Can I use Wise to receive my salary in Germany?
Yes, as long as you have a German IBAN (DE), you can receive your salary without any problems.
Does Wise charge any maintenance fees?
No, Wise does not charge maintenance fees for having an open account.
Does Wise provide a debit card?
Yes, Wise offers a debit card linked to your multicurrency account. You can use it to pay in shops and online, and withdraw money at ATMs in Germany and anywhere else in the world.
N26: online banking
N26 is an online bank widely used by those arriving in Germany. In addition, they can open a FREE account even before arriving in Germany (remember that when registering your address, you will need to provide an address in Germany). The N26 app is intuitive and easy to use, and is also available in English.
Here are the detailed steps to open an N26 account:
- Start the N26 registration: Click on this link and select "Open Bank Account" to start the process.
- Complete the registration form: Provide your full name, email address and set a secure password. During registration, you will be asked for an address in Germany (please note that they will not send you the card until you request it, but it is important for them to approve your account).
- Finally, verify your identity: N26 requires you to verify your identity to open an account. Follow the instructions provided in the app to complete the verification process. This may involve a video call or sending a photo of your ID and a selfie (this is a simple step and is in English).
- Debit card activation: Once you order your debit card, N26 will send it to you. Follow the instructions enclosed with the card to activate it. The N26 debit card will allow you to make purchases and withdraw money at ATMs in Germany and abroad. In addition, you will be able to withdraw your German salary to this account.
- Questions and Answers:
How can I deposit cash at N26?
- In the app, go to the "Add Money" option and select "Cash26". A map will appear with all the places where you can deposit cash into your account, such as Rewe supermarkets. A barcode will then be generated and you will need to present it at the cashier's desk (minimum deposit is €50).
Can I use N26 to apply for a Work&Holiday visa?
- Yes, we know guys who have successfully applied for the Work&Holiday visa using N26.
Can I open an N26 account from another country?
- Yes, they can open an account before arriving in Germany, but make sure to provide a German address when opening the account.
Is it possible to cash my salary at N26?
- Yes, you can easily withdraw your salary from your N26 account.
What is the monthly price of N26?
They have different types of accounts:
Standard: Free
Smart: €4.90 per month
You: €9.90 per month
Metal: €16.90 per month (with this option you have travel insurance included) <- TIP!
If you are ready to start opening your N26 account, simply click on the following link AT THIS LINK.
for Commerzbank: physical bank
Unlike N26, Commerzbank is a widely recognised and trusted physical bank in Germany, with branches all over the country. Personally, we have accounts at both banks: N26 for everyday card use and Commerzbank for our paychecks.
Here are the steps to open an account with Commerzbank:
- The process begins in THIS LINK (You will get €50 welcome bonus when you use this link!)
- Gather the necessary documents: To open an account at Commerzbank, you will need to have the following documents:
- Valid passport: Make sure you have a copy of your valid passport.
- Proof of residence: Provide proof of residence in Germany, such as a utility bill or a rental contract.
- Fill in the form with your details at the link provided. Please note that the page will be in German, so we recommend that you translate it.
- Verify your identity: Commerzbank will require you to verify your identity. Follow the instructions provided by the bank, which may include a video call or visiting a branch to present your documents. In our case, we had to go to a Deutsch post branch in person, but the process was quick and easy.
- Wait for confirmation and receive your account details: Finally, once you have submitted your application, wait for confirmation from Commerzbank. You will receive your account details by email or post.
- Frequently asked questions and answers:
Can I open a free account at Commerzbank?
- Yes, you can have a free Commerzbank account if you receive your salary or deposit more than €700 per month. Otherwise, a monthly fee of €9.90 applies.
Can I open a Commerzbank account from outside Germany?
- No, to open an account with Commerzbank, you need to be registered in Germany.
Is the Commerzbank application in English?
- No, the Commerzbank application is currently available in English or German.
In short, if you plan to emigrate to Germany, opening a bank account is essential.
We recommend having two options if possible: a virtual bank (Wise, Revolut, N26) for day-to-day transactions and Commerzbank for savings, salary collection and transactions requiring greater security.
Prepare your trip with peace of mind and make sure you have a bank account that suits your needs.
Have a good trip!
Other articles that may be of interest to you:
- How to join a German public insurance?-> Learn step by step how to get your krankenkasse and social security number!
- 10 essential applications for living in Germany -> Download the apps you need to make your life in Germany easier!
