Looking for the best bank in Germany as an expat or foreigner? You’re not alone — and you’ve come to the right place. We’ve compared 9 banks across fees, English support, Anmeldung requirements, and more to help you find the right fit. Whether you just arrived, you’re a student, or you’ve been here for years, this guide covers everything you need to know about banking in Germany.
Which Is the Best Bank in Germany?
The short answer: it depends on your situation. But here are our top three picks for most expats:
- N26 — Best for most expats. Free, fully in English, fast signup with just a passport.
- bunq — Best if you don’t have an Anmeldung yet. No German address needed, Belgian IBAN works across Germany.
- DKB — Best for long-term residents. Free with €700/month income, free ATM withdrawals worldwide.
Below you’ll find a full comparison of all 9 banks we recommend, plus sections on free accounts, student banking, no-Anmeldung options, SCHUFA, and more. Everything is tailored to English-speaking expats and foreigners in Germany.
Best Banks in Germany for Expats & Foreigners (Comparison)
The table is scrollable on mobile devices. All links go to the bank’s application page.
N26 is the best all-round pick for expats — it’s free, fully in English, and signup takes about 8 minutes. bunq is your go-to if you haven’t registered your address in Germany yet. Wise is unbeatable for international transfers and holding multiple currencies. And if you plan to stay long-term, DKB gives you the most value with free worldwide ATM withdrawals.
Best Free Bank Accounts in Germany
Good news: you don’t need to pay for a bank account in Germany. Several banks offer genuinely free accounts with no hidden conditions:
- N26 Standard — Completely free. No minimum balance, no income requirements. Just a free Mastercard debit card and a solid app.
- Wise — No monthly fee. You only pay small fees when you convert currencies. Perfect if you send money internationally.
- Vivid Money — Free account with a Visa Metal card, cashback on purchases, and a built-in investment feature.
- DKB — Free if you receive at least €700/month (salary, scholarship, etc.). Without that, it’s still just €4.50/month.
“Free with conditions” is common in Germany. Some banks waive the monthly fee if you meet a minimum income threshold. Always check the fine print — but for most expats with a regular income, DKB’s conditions are easy to meet.
Want the full breakdown? Check out our detailed guide on free bank accounts in Germany.
Best Banks for Students in Germany
As a student, you have some advantages when it comes to banking in Germany. Many banks offer special student accounts with zero fees:
- N26 — Free for everyone, not just students. No minimum balance, great English app. The simplest option to get started immediately.
- Commerzbank Startkonto — Free for anyone under 28. Comes with a physical branch network, which can be handy when you need in-person help (especially for official documents).
- DKB — Free for students regardless of income. Offers free ATM withdrawals worldwide and a solid VISA card.
Our recommendation for students: Start with N26 for the easiest onboarding — you can have a working account within minutes of landing in Germany. If you want a traditional bank for official purposes (some landlords prefer a German IBAN from a recognized bank), add Commerzbank as a second account. For more student-specific tips, check our student finance guide.
Banks You Can Open Without Anmeldung
The Anmeldung (city registration) is one of the first bureaucratic hurdles when you arrive in Germany. You register your address at the local Bürgeramt — but getting an appointment can take weeks. In the meantime, you still need a bank account. Here’s what works:
- bunq — No Anmeldung required. As a European bank (based in the Netherlands), bunq gives you a Belgian IBAN that works perfectly for SEPA payments across Germany. Most flexible option for non-EU residents too.
- Wise — No Anmeldung, no German address needed. Opens from anywhere in the world. Great for receiving money in multiple currencies before you even arrive.
- N26 — Technically requires an EU/EEA address, but it doesn’t have to be German. If you have any European address (from your home country, a friend, a temporary stay), you can sign up.
- Revolut — UK-based, no German Anmeldung required. You get a Lithuanian IBAN that works for SEPA payments in Germany. Fully functional from day one.
Important: Some employers and landlords specifically ask for a “German IBAN” (starting with DE). bunq, Wise, and Revolut give you non-German IBANs. While these are legally equivalent under EU regulation, you may want to open a German IBAN account (like N26 or DKB) once you have your Anmeldung.
German Banks with English Support
Not speaking German shouldn’t stop you from managing your money. Here’s which banks you can use entirely in English:
- Full English app, website, and support: N26, bunq, Wise, Revolut, Vivid Money
- English app, limited website/support: Tomorrow (app is in English, customer support responds in English)
- Limited English: DKB (mostly German interface, some English documentation)
- Primarily German: Commerzbank, Deutsche Bank (branch staff in major cities often speak English, but online banking and official documents are in German)
If English support is a priority, stick with the neobanks (N26, bunq, Revolut, Wise). They were built for an international audience from the start.
Traditional Banks vs Online Banks vs Mobile Banks
Understanding the German Banking Landscape
Germany has three types of banks, and knowing the difference helps you choose:
- Traditional banks (Commerzbank, Deutsche Bank, Sparkasse): Physical branches, full-service, German-focused. Best for: long-term residents who need mortgages, in-person support, or an official-looking German bank.
- Online banks (DKB, ING): No branches, but full banking features including loans and investments. Lower fees. Best for: residents who are comfortable online and want value.
- Mobile/neo banks (N26, bunq, Revolut, Wise, Vivid, Tomorrow): App-first, fast signup, English-friendly, no branches. Best for: expats, new arrivals, and anyone who wants to get banking done in 10 minutes.
Our advice: Start with a mobile bank for immediate needs — you can have a working account on day one. Consider adding a traditional bank later if you need a mortgage, your employer requires it, or you want a German IBAN from a major bank.
How to Open a Bank Account in Germany
Opening a bank account is simpler than most people expect. Here’s the step-by-step process:
- Choose your bank — Use the comparison table above to find the best match for your situation.
- Prepare your documents — At minimum: valid passport or EU ID card. Most banks also need your Anmeldung (city registration). Non-EU citizens: have your residence permit ready.
- Apply online or in a branch — Neobanks let you do everything from your phone. Traditional banks may require a branch visit.
- Verify your identity — VideoIdent (video call with an agent who checks your ID) is the standard for online banks. Some banks also accept PostIdent (go to a post office with your ID).
- Receive your card and activate — Your debit card arrives by mail in 3-7 business days. Most banks give you a virtual card immediately so you can pay with Apple Pay or Google Pay right away.
For a more detailed walkthrough, head to our complete guide on opening a bank account in Germany.
SCHUFA & Credit History: What Expats Need to Know
Here’s something most bank comparison sites won’t tell you: your banking journey in Germany is only step one. The real challenge comes when you need credit — a loan, a phone contract, or even a rental apartment.
That’s because of SCHUFA — Germany’s credit bureau. Think of it as a German version of a credit score. Every German resident builds a SCHUFA profile over time based on their financial behavior: paying bills on time, having a bank account, managing credit cards.
The problem for expats: When you arrive in Germany, you have no SCHUFA history at all. Not a bad score — literally no data. And many traditional lenders treat “no data” almost the same as “bad data.”
What this means in practice:
- Basic bank accounts: Not affected. Neobanks (N26, bunq, Revolut, Wise) don’t check SCHUFA for basic accounts. Even traditional banks rarely reject you for a basic account just because you’re new.
- Loans and credit: This is where it gets difficult. Want a personal loan? A car loan? Most banks will say no if you have no SCHUFA history.
- Rental apartments: Landlords often ask for a “SCHUFA-Auskunft” (credit report). Having no entry isn’t a dealbreaker, but it doesn’t help.
How to build your SCHUFA: Open a German bank account (that’s what you’re doing), pay your bills on time, get a mobile phone contract. Over 6-12 months, you’ll start building a positive score. But what if you need a loan before that?
Need a Loan in Germany? How GIROMATCH Helps
Getting a bank account is step one. Getting access to credit is step two — and it’s the one most expats struggle with.
Traditional banks have rigid requirements: stable income, German employment contract, good SCHUFA score. If you’re new to Germany, you probably don’t tick all those boxes yet.
That’s where GIROMATCH comes in. We’re a loan matching platform that connects you with lenders who actually work with expats and people with limited credit history. Here’s how it works:
- Free to use — No hidden fees, no obligation.
- SCHUFA-neutral check — Our initial check doesn’t affect your credit score.
- Multiple lender matching — We work with banks and lenders that have more flexible criteria than traditional German banks.
- Honest about chances — We can’t guarantee approval (nobody can), but we significantly improve your odds compared to walking into a traditional bank with no SCHUFA.
You can also read what other users say about us on our GIROMATCH reviews page.
Which Bank Should You Choose?
Still not sure? Here’s a quick decision guide based on your situation:
- Just arrived, no Anmeldung yet → bunq or Wise
- Student on a budget → N26 (free) or Commerzbank Startkonto (free under 28, with branches)
- Want a traditional German bank → Commerzbank or Deutsche Bank
- Freelancer or digital nomad → N26 Business or bunq
- Send money internationally → Wise (best exchange rates, lowest fees)
- Care about sustainability → Tomorrow (climate-focused banking)
- Want cashback and investing → Vivid Money
- Non-EU resident → bunq (most flexible ID requirements)
- Long-term resident, want the best value → DKB (free worldwide ATMs, comprehensive features)
Pro tip: Many expats use two accounts — a neobank (N26 or Revolut) for daily spending and quick access, plus a traditional bank or DKB for salary, official purposes, and building SCHUFA history.
Blocked Account (Sperrkonto): Do You Need One?
If you’re coming to Germany on a student visa, you’ll likely need a Sperrkonto (blocked account). This is a special savings account where you deposit approximately €11,208 (as of 2026) to prove you can financially support yourself. The money is released in monthly installments of about €934.
Important: A Sperrkonto is not the same as a regular bank account. You still need a normal bank account for daily transactions — receiving your monthly Sperrkonto payout, paying rent, buying groceries. Popular Sperrkonto providers include Expatrio, Fintiba, and Deutsche Bank. Once you’ve set up your Sperrkonto, come back here and open one of the regular accounts above for your daily banking needs.
FAQ: Bank Accounts in Germany
For most expats, N26 is the best all-round choice — it’s free, fully in English, and you can sign up with just a passport. If you don’t have an Anmeldung (city registration) yet, bunq is the best option as it requires no German address.
Yes. bunq, Wise, and Revolut let you open an account without a German Anmeldung. bunq gives you an IBAN you can use in Germany immediately. Traditional German banks like Commerzbank and Deutsche Bank require an Anmeldung.
N26, bunq, Wise, Revolut, and Tomorrow all offer fully English apps and customer support. DKB has limited English options. Traditional banks like Commerzbank and Deutsche Bank operate primarily in German, though branch staff in major cities often speak English.
Non-EU residents can open accounts at N26 (with a valid residence permit) and bunq (most flexible for non-residents). Wise and Revolut also work for non-residents. Traditional German banks typically require proof of residence.
No. Most neobanks (N26, bunq, Revolut, Wise) don’t run a SCHUFA check for basic accounts. Traditional banks may check your SCHUFA, but a missing score (common for new arrivals) is usually not a rejection reason for basic accounts.
N26 Standard is completely free with no conditions. DKB is free if you receive at least €700/month. Wise has no monthly fee but charges for currency conversion. Vivid Money is also free.
N26 Standard is the top pick — it’s free, works with any student status, and has a great English app. Commerzbank’s Startkonto is free for anyone under 28 and comes with a physical branch network. DKB is also free and popular among students.
Yes, but options are limited due to FATCA regulations. N26 accepts US tax residents with a German or EU address. Wise works well for US citizens. Some German banks may decline US citizens due to the extra reporting requirements.
At minimum: a valid passport or EU ID card. Most banks also require an Anmeldung (city registration). Online banks like N26 need VideoIdent verification. Non-EU citizens typically need their residence permit as well.
A Sperrkonto is a special savings account required for student visa applications in Germany. You deposit approximately €11,208 which is released monthly. This is separate from your daily bank account. Providers include Expatrio, Fintiba, and Deutsche Bank.
Yes. bunq, Wise, and Revolut let you open an account from anywhere in the world. N26 lets you sign up online but may require a German or EU address. This is useful for securing an IBAN before you arrive.
For basic banking, any neobank (N26, bunq, Revolut) works fine without a credit history. For loans or credit products later, GIROMATCH helps you find lenders who work with expats and people with limited SCHUFA history.
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