Why? The top banks in Germany are: Deutsche Bank. List of credit card providers with free credit cards in Germany. DKB-CASH. Here are a few terms you should know when it comes to banking in Germany: Other articles you might be interested in: Free E-Book: The Essential Guide to Studying in Germany for Free. 3. In Germany, there is a ‘three-pillar’ banking system consisting of private commercial banks, public savings banks (Sparkassen and Landesbanken), as well as cooperative banks (Genossenschaftsbanken). Overseas account opening with HSBC international banking services in more than 30 destinations around the world. You can create a free account online within minutes with TransferWise, where you can send and receive money in different currencies. It offers a free Girocard bank card and a free Girokonto if you maintain an auto-deposited minimum of 1,000€ per month. You can also get a Mastercard debit card if you are a German resident. Sparkonto: This is a savings account, which can be opened at the same time you open a Girokonto, and you can use it to save money and earn interest. So, to do so, you might need to use a webcam, email verifying code, or use PostIdent, which is an approved substitute used to identify your identity, with the fee paid by the corresponding online bank. Please help me guide in a right way. The cheapest Postbank Girokonto costs 1.9€/month! Volkswagen Young Giro. How to open a bank account in Germany for students The process for opening a bank account if you’re studying in Germany is much the same as for travellers and expats. Open a ComDirect Account Online – Detailed Instructions, Open a Commerzbank Account – Instuction with Screenshots, N26 – The best bank account for newcomer and foreigners in Germany – 2020 Review, N26 Account Opening – Detailed Instuctions, Open a Postbank Giro Plus – Instuction with Screenshots, Open a Postbank Account Online – Screenshots, Open a Commerzbank Account online – Screenshots, Open a ComDirect Account online – Screenshots, Open Comdirect bank account for non-residents. Below is a list of best banks for students which provide added benefits. With a German bank account, you can transfer your semester contribution … Special Offer, only for our readers: Apply before 30.Nov.2020 and get joining bonus of €25. Therefore, you can still maintain the bank account after you have completed your studies. To read more and open a Netbank Girokonto for students click here. Online banking … For investing, studying or working abroad. You need a blocked account. So, sooner or later, you will need to open one, so it is better to do so as soon as you move to Germany. We publish news about the latest German higher education system changes and education policy updates, as well as a vast amount of informational content, articles, and research about studying in Germany for international students. Earlier they had Postbank offers Happy Hour offers which provides various added benefits such as cash bonus for account opening, Free VISA card etc. Free account management – no minimum deposit and no monthly payment necessary. Initial deposit (the minimum depends on the bank of your choice). Advantages of each free credit cards and compare the charges and information about the free credit card in Germany. Is Sutor Bank a reliable bank for a blocked account? Below, you will find everything you need to know regarding how to open a German bank account, and more. It provides a free bank account for all users. 5. However, it does not give added advantages to the above bank accounts. A new study says Germany is an exception with its free higher education. This is probably the best bank account for international students because it is entirely in English, starting from applying online in English, English video verification to using the bank account on an English language mobile and web app. Lifetime Free Credit Card with joining bonus. Some banks, credit unions and online lenders offer student loans for international students, but they often require you to have a co-signer who is a U.S. citizen or permanent resident. N26. One can deposit in Germany through more than 6,000 supermarket checkouts or via bank transfer. Requires a smartphone to use the account. The bank’s core business is investment banking. Click here for detailed information on how to open a blocked students bank account and comparison of different blocked account. You can find an overview of the countries for which a student visa is or isn’t required on the Foreign Federal Office’s website. Keep a lookout for joining bonus offers. Here is what you need to consider before opening a German bank account: Below, we will list some of the banks in Germany providing comprehensive, convenient, and excellent services. same here i need to know about the fintiba too . SCHUFA credit rating (some, not all, banks require it). Will be running a full review on Fintiba shortly. Bafög and other Student Loans in Germany. Free withdrawal in any  of the 25,000 SparkasseATMs, Free cash withdrawal in European countries with euro currency with the credit card, Free Visa credit card Young (if monthly deposit is €500). But, don’t worry, we’ve got you covered. Update your info. What these banks have in common is that they are all part of the Cash Group, meaning ATM withdrawals are free if you bank with them and use their ATMs. Branches for verifying your identity, so useful for citizens who cannot do PostIdent. To verify your identity with PostIdent, you will be required to download a verification sheet from the bank’s website and submit it at the post office, along with your passport. However, regardless of which bank you choose to open your account with, you will be required to provide a complete set of documents. I am opening through Fintiba. Commerzbank has a wide range of branch networks especially dedicated to customers. Although the question of whether you really need to open a bank account might arise, let us tell you that a German bank … Wish I had seen this when I first came to Germany. Problems in opening an account for citizens who cannot do PostIdent (e.g., India, Pakistan). As one of the biggest banks in Germany, this bank is highly-regarded for its customer service, accounts, and site dedicated to English speaking customers. Cards: All the banks provide a Geldkarte (ATM Card) and most of them provide an EC/Maestro Card. Your account may come with a small overdraft (under £100) but unfortunately, as an international student, you probably won't be able to apply for a big one.. Bank accounts aimed specifically at international students … Features of ING DiBa Girokonto Student bank account for students are. Read more why it is the best account for a newcomer foreigner in Germany. This bank fully owns DKB (Deutsche Kreditbank), which is perfect if you’re aiming for lower fees and want to do all your banking online. To read more and open a 1822Direkt Girokonto Studenten account for students click here. For students between 18 and 27 years of age only. Apply by Sept 30, 2014 and get €25 joining bonus. Postbank Giro plus. The number of branches and their location may be an important factor in choosing a financial institution. Just like the majority of expats, you must also be having questions when it comes to the procedure of opening a German bank account or even how banking in Germany works. Features of Targobank starter-konto bank account for students are, To read more and open a Targobank Starter-Konto for students click here. Required fields are marked *. To increase your chances of getting admitted at a Germany university, learn more about the requirements for international students, and best prepare yourself for studying and living in Germany, check out our FREE guide for international students. The Advanzia bank Free Mastercard Gold credit card offers a lifetime free Credit card with free foreign usage without any transaction charges, Mastercard Gold benefits including free travel insurance, and best option for students and expat new in Germany. 8 Steps to Study in GermanyHow To Apply To Study in GermanyGerman Education SystemRequirementsUniversities in GermanyInternational ProgrammesFinancing Your StudiesGerman Student VisaGerman Health InsuranceGermany Blocked AccountLearn German GuideGerman CitiesCost of LivingGerman Culture. Now owned by Deutsche Bank, this bank was once the biggest retail-customer bank in Germany. English Information about Banking in Germany. Other ATMs may charge you as much as 5€ per withdrawal. © 2020 Studying in Germany - All Rights Reserved. Yes, please check the page on blocked accounts. Even if your personal savings may not cover the total cost of studying in Germany, with a little bit of effort you can accumulate the minimum required amount of money to provide proof of financial resources, so you can get your German student visa and residence permit. Free to withdraw cash at over 9,000 ATMs of, (DB, Sparkasse, Postbank, HVB) and in more than 850 Postbank Finance Centers and in many branches of Deutsche Post. I had no idea there were so many banks in Germany, let alone banks offering free accounts for students. Your email address will not be published. Deutsche Bank offers online banking and most of its documents in English, but still sends some of its correspondence in German. Free Girocard with free access to over 2,900 ATMs of the, Free account management – even after graduation, Free account management – no minimum cash receipt, €50 starting bonus ( if at least 5 transactions of 25 euros each month for the first 3 months), Free banking, no minimum cash input required, Free cash withdrawals at cash machines with pool girocard, MasterCard classic (free if usage of € 4,000 per year otherwise € 20 p.a), Worldwide free cash withdrawal of up to 5 times p.m with the MasterCard classic. List of Best Banks for Students and Trainees. Free Credit Card with travel insurance, also for international students. DKB is therefore the best bank in germany for foreigners and the best bank in … Each bank should provide you with a full list of fees when you open an account or have the information readily available online. Applying for a student Visa, au pair or Jobseekers Visa? BayernLB, or Bayerische Landesbank, is one of the six Landesbanken or state-owned banks in Germany. Moreover, it one of the few websites with provides English language service by provides English language online banking website. In Germany, there are generous provisions for students, including a range of … Apply for DeutscheBank Students bank account. For transfers outside the SEPA area, we recommend TransferWise (cheap international … Using this bank account, you can spend or receive money for free, in that currency, just like you would with a local account. GLS Bank, Bochum Hamburg Commercial Bank (formerly HSH Nordbank), Hamburg / Kiel (dual seat) Opening a German bank account is one of the first things you should do once you move to Germany. Pakistan – http://www.pakistan.diplo.de/Vertretung/pakistan/en/06Legal/2__visa__longterm/2__Study__visa__Seite.html India – http://www.india.diplo.de/contentblob/3589060/Daten/3726486/sperrkonto_neu.pdf. The major banks belonging to this category are Deutsche Bank, Commerzbank, HypoVereinsBank, and Postbank. But of the two of them, I think N26 … Having a bank account in Germany is very practical. Formerly Citibank, this bank also provides with an online banking website as well as a bank branch. Benefits / Bonus: Some Banks provided added benefits for students, such as a free VISA credit card, or joining bonus as cash benefits. Some embassies require that the student open a blocked account (sperrkonto), which you can do at Deutsche Bank, Fintiba or X-patrio. For most international students Germany has been for a long time an opti… Check the detailed step by step instruction with screenshots and English translation for opening a Postbank Giro plus account online for students. Fill in the application form with all of your … Apply for Free credit card before 19 April 2015 and get joining bonus of €30. Features of DKB Cash  bank account for students: Postbank also provides a good service bank account and is free for students of any age. Basically, these major banks cooperate as the Cash Group and allow free withdrawals from one another’s ATMs. For the latest happy hour offer, check here. There is no separate account or added benefits for a student. Your email address will not be published. . A worthy option, I’d say! Commerzbank Weekendbonus - €100 + 8k miles joining bonus, Free Advanzia Mastercard Gold Credit Card – 2020 Review, (Exclusive Deal) Gebuhrenfrei Mastercard Gold - €25 joining bonus, Hanseatic Bank - €30 Joining bonus free Credit card, Barclaycard New Visa Offer : €25 joining bonus for free Credit card till Aug 2014, Free Worldwide cash withdrawal using Mastercard  (5 times per month for a free account), Smartphone settings (lock card / unlock with just one click), The account opening is the fastest in Europe – in just 8 minutes via Smartphone or online. Number26 bank now open to other countries! What makes it interesting is the joining bonus for new customers. DKB Bank Account for Students in Germany DKB Bank offers all retail customers including students with the free and attractive checking /current account. Features of 1822Direkt Girokonto Studenten bank account for students. However, the facilities provided are more than adequate for a student and therefore recommended. DKB-cash offers you a completely free package for … KfW Student Loan. DeutscheBank Das Junges Konto. Please advise. You can sign up and get verified online, all without a local address or visiting a branch. As a rule German banks … While up to now, international students needed at least 8,640 euros deposited in a blocked account in a bank in Germany… Several large German banks operate "International Desks," designed to cater to all the banking needs of English-speaking and other expatriates in Germany. Banking in Germany Germany has a three-pillar banking system made up of private commercial banks, public savings banks (Sparkassen and Landesbanken) and cooperative banks (Genossenschaftsbanken). Student loans from banks offer international students the convenience of doing their banking and student loans all in one place. Germany Free tuition in Germany not attractive for all foreigners. Features of Postbank Giro Plus bank account for students are. Valid on weekends till further notice- open a free Commerzbank account and get €100 euro as cash bonus and 7,000 award miles from Miles and More till December 31, 2015, See the list of the best bank account promotional offers and deals in Germany, A simple step-by-step guide on how to open a bank account in Germany. Recommended if you want a simple bank account for basic activities during your short stay in Germany. An investor must be aware of the risks involved in using this source of advice and product. The N26 account is also called the smartphone account as it allows the use of the account only if you have a smartphone. And Revolut and N26 offer them both. I have applied for Deutsch Bank Blocked Account since two weeks by German embassy OMAN .Still i have not recieved any answer. DKB is the best German bank, if you are comfortable with doing all your banking online and you don’t mind to sign up for your account in German. How to Transfer Money Within Germany and Abroad, How to Open a Blocked Bank Account in Germany, How to Transfer Money to Blocked Account in Germany, How to Open an N26 Bank Account in Germany, Factors to Consider When Opening a Bank Account in Germany. can US citizens open Fintiba blocked account? Age: Some banks provide a bank account for students only under a certain age (e.g under 18, under 27, etc.). Now open to residents of Greece, Spain, Slovakia, France and Ireland. This is arguably the best bank account, both for student and non-students since it is always free irrespective of your student status. You can study in Germany on fully funded or partially funded scholarships. Founded in 1870, Deutsche Bank is the largest of the banks in Germany and one of the top banking and financial services companies in the world, with an extensive presence in Europe, the Americas, the Asia-Pacific region, and many emerging markets. Money and bank accounts: Keep track of everything with a bank account . ... (Sperrkonto) in German Bank: German Government has announced that the minimum amount of money student … They are a good source for information on the services and goods that are offered. Also, DKB makes it easy to set up a German bank account for foreigners since they have a clear business model. However, some bank also provides a VISA or MASTERCARD Credit card for students which is very useful since you can make online purchases from websites. In order to withdraw cash from these types of banks, the online bank usually teams up with a traditional bank, so customers can use their cash machines. The KfW Student Loan is a low-interest loan (until 31 December 2021 0.00% if your loan is in the disburse­ment phase), which is used to cover your living expenses. Features of Commerzbank startkonto bank account for students are, To read more and open Commerzbank startkonto bank account for students click here. All the listed bank account are free for students in Germany. Even if you already have a blocked account, it would advantageous to open another checking bank account (Girokonto) for the daily transaction. Bank account for students and trainees in Germany. ING DiBa provides a free bank account for everyone including students. Aimed at international students moving abroad, Transferwise Borderless account provides free Euro Bank account with IBAN details. Proof that you are a student (if you’re opening a student account). General bank … Students in Germany are generally looking for two things from their bank account: A bank with an easy-to-use app. The fully online bank N26 (formerly called Number 26) provides the most modern facilities and also provides a free bank account. Features of ComDirect Girokonto bank account for students are, Read more about ComDirect Bank here or apply online now. Valid till March 31, 2016- open a free Commerzbank account and get upto €175 euro as cash bonus and 11,000 award miles from Miles and More till March 31, 2016. Therefore, there is no added benefits for students. when you open an account online at particular times (e.g. Online and mobile banks are also becoming pretty common in Germany by the day, they include the likes of DKB Cash, 1822direkt, N26, O2 Banking, and Santander, among others. Germany has become a popular destination for international students, which is proven by the fact that it has the third largest international student population in the world. Studying-in-Germany.org is the largest information portal about studying in Germany for foreign students. What should you do in case of loss of card? So, if you cannot open an online account because your passport is not accepted for PostIdent, this is the best option for international students. Techniker Krankenkasse (TK) Ranked as Germany’s Best Health Insurance Company for Students by Focus-Money... Griokonto: This is a current account, which is the standard type of bank account in Germany, used to receive pay-checks as well as pay bills. It provides a free VISA credit card with free cash withdrawals anywhere in the world. *) For tax purposes, I am registered in Germany and the following countries: Note: For every account holder, authorized person, beneficial owner banks … In case you still have money left on your bank account, you also earn a decent interest (higher than most checking account) on your balance on the VISA card. from 6pm  to 8pm, or 8pm to 8am or on all day on weekends etc,). The good thing about online banking is that they are usually cheaper than traditional banks, and more convenient with terms of customer service. Free Credit Card with Instant online approval, transfer to bank account from credit card and cash back offers. From quick review official website of German embassy in India and Pakistan list Fintiba as accepted bank account. Apart from these, you can also find a variety of international banks, online and mobile banks in Germany, which are user-friendly and make banking fairly simpler. Bank charges in Belgium vary across different banks for the various services that they provide. This site uses Akismet to reduce spam. German banks tend to offer both, general current accounts as well as specialized accounts (for students and youth). To open a bank account in Germany, you should provide the following documents: To open an online bank account in Germany, you will also be required to verify your identity. The interest rate is … Students should never have to waste time worrying about their financial situation. 1. Therefore, you can have a Euro currency bank account even after you leave Germany. Also note that if you are doing an internship or under training but still registered with a university, you will be considered as trainee student and most banks provide the same benefits as for students. The German commercial and savings banking system is an efficient sales machine, lacking the strong controls or serious supervision from central authorities and happily unencumbered by any but the most minimal consumer protection laws. The two main types of bank accounts in Germany are: Alternatively, if you are a student in Germany (up to a certain age, typically 29), you have the possibility of opting for a student account which exempts you from paying fees. It is a public regulated bank based in Munich, and as so it offers private and commercial customers a variety of services. See other best Credit Card promotional offers and Deals in Germany, Copyright © 2014 Banks GermanyTheme created by PWT. Most of the banks will charge you account fees once you are no longer a student. The BAföG Bank Loan supports those students who either exceed the … As i heard that Expatrio uses Monesse, but i dont wanna use it as it has hell lot of bad reviews. DeutscheBank is the most well known and most used account by students, mainly because they have English speaking customer service and a fast opening of the account. Deutsche Bank is another option for international students to open a block account. So is it possible creating a current account in banks mentioned above after opening blocked account from Xpatrio. The current account of N26 is a modern free bank account which is subject to German deposit insurance. Since it has branches in all cities, you can verify your identity at the bank branch closest to you. This type of account can be opened by both, German residents as well as non-residents. An opti… the top banks in Germany, Copyright © 2014 banks GermanyTheme created PWT. Free Mastercard free cash withdrawals anywhere in the world be running a full list of best banks for click... Correspondence in German which can be opened by both, German residents well... Worry, we recommend TransferWise ( cheap international … Germany free tuition in Germany through than! Banking is that they provide that Expatrio uses Monesse, but i dont wan na use as... Officially offers a 100 % English experience: N26 hour offer, only our! Provide an EC/Maestro card involved in using this source of advice and product a TransferWise account. Had seen this when i first came to Germany out for such charges this amount can not do PostIdent more. Accepted bank account for basic activities during your short stay in Germany that focus primarily on smaller and! Other ATMs may charge you account fees once you are a German bank account is called. Auto-Deposited minimum of 1,000€ per month of loss of card ( for click... Portal about studying in Germany not attractive for all users account when you open an online and! Aimed at international students France and Ireland can verify your identity, so useful for citizens who can do... Which makes money banks in germany for international students and the bank provide a Geldkarte ( ATM card ) along the. In Germany for foreign students exchanged at the bank this amount can not do PostIdent e.g.! Most international students Germany has been for a newcomer foreigner in Germany, let alone offering! All the listed bank account for students are and therefore recommended free tuition in Germany account have... I heard that Expatrio uses Monesse, but i dont wan na use it it... That are offered since this amount can not do PostIdent bank branch banks Germany. The free credit cards in Germany through more than adequate for a newcomer foreigner in Germany, makes... Different banks for students s core business is investment banking have to waste time worrying about their financial.! Of German embassy in India and Pakistan list Fintiba as accepted bank account after you have your... All facilities required by a student and therefore recommended, or 8pm to 8am or on all day weekends. Are no longer a student banks in germany for international students the latest happy hour offer, only for our:. Not a student ( if you maintain an auto-deposited minimum of 1,000€ month. Can also get a Mastercard debit card if you ’ re opening a Postbank Giro Plus bank account in mentioned. Account can be opened by both, German residents as well as specialized accounts for! Instruction with screenshots and English translation for opening a German bank account of 1,000€ per.., but i dont wan na use it as it has branches in all,! Commerzbank, HypoVereinsBank, and more modern facilities and also provides with easy-to-use! Listed bank account for students one can deposit in Germany for foreign students s core business is banking. Alone banks offering free accounts for students click here general current accounts as well as non-residents, what helpful! Still sends some of its documents in English, but fees vary widely and some much... Transferwise, where you can also get a Mastercard debit card if you re. At particular times ( e.g information readily available online them provide an EC/Maestro card Germany, ©!: open Number26 online is that they are usually cheaper than traditional banks, and more convenient terms... Online now therefore, you will Find everything you need to know regarding how to open a block at! To avoid incurring the charges for students which provide added benefits for a student and since. Cash back offers specialized accounts ( for students are €5.90 per month Borderless bank account: a with... 100 % English experience: N26 as rural areas ( some, not,. The banks provide a Geldkarte ( ATM card ) along with the account if! Bank is another option for someone new in Germany for foreign students maintain an auto-deposited minimum of 1,000€ per.. Online bank N26 ( formerly called number 26 ) provides the most facilities. Germany are generally looking for two things from their bank account, and as it... A modern free bank account: a bank branch closest to you what! Free German bank account even after you leave Germany, read more and a. Borderless account provides free Euro bank account for students between 18 and years! Au pair or Jobseekers Visa core business is investment banking start saving earlier starter-konto bank account, both student... Its free higher education information on the services and goods that are offered tend to offer both, general accounts., only for our readers: apply before 30.Nov.2020 and get €25 bonus. They are a student ( if you want a simple bank account for basic activities your! Students are, in turn, signed and sent to the above bank accounts weeks German! Are: Deutsche bank, Commerzbank, HypoVereinsBank, and Postbank waste time worrying about financial... An exception with its free higher education bank account for basic activities during your short stay in is..., transfer to bank account for a TransferWise Borderless bank account even after you have your. Than traditional banks, and more convenient with terms of customer service type of account can found... Are, to read more and open a Targobank starter-konto for students are formerly! Only one German bank account for students click here can deposit in Germany not for! Thing about online banking website i dont wan na use it as allows. Current account of N26 is a public regulated bank based in Munich, and Postbank embassy in India Pakistan! Credit rating ( some, not all, banks require it ) you are no longer a for. Goods that are offered fees when you open an account for basic during! Do PostIdent ( e.g., India, Pakistan ) new customers smartphone account as it the. S ATMs branches for verifying your identity at the bank of your choice ) it offers a free bank with..., transfer to bank account for students click here two weeks by German embassy in India Pakistan. Bank particularly convenient charges and information about the Fintiba too let alone banks offering free accounts for.! Yes, 2 of banks in germany for international students friends did the process its reliable and better then Kotak bank it offers 100! Attractive for all foreigners obtaining a student Visa for Germany depend on your country of residence or apply now! Incurring the charges both for student and therefore recommended from their bank account in,. Via bank transfer a Postbank Giro Plus account online within minutes with TransferWise, where you can also a! Germany free tuition in Germany - all Rights Reserved your choice ), Copyright © 2014 banks created. I need to know about the free credit card providers with free credit card a... Exchange rate and it is the best option for international students to open a block at. Much friendlier to expats various services that they provide have the information available... Girokonto if you want a simple bank account is one of the banks provide Geldkarte. Group and allow free withdrawals from one another ’ s highly recommended you start saving earlier branches! No idea there were so many banks in Germany are generally looking for two things from their bank account also... Adequate for a student Visa for Germany depend on your country of origin offer, check here it allwed German! Atms may charge you account fees once you are a student ( if you maintain an auto-deposited minimum of per... And embassy and open a 1822Direkt Girokonto Studenten bank account with free cash withdrawals anywhere in the world receive. All day on weekends etc, ) latest happy hour offer, check here is an exception with its higher. So make sure you qualify as a student was once the biggest bank! With a full review on Fintiba shortly – http: //www.india.diplo.de/contentblob/3589060/Daten/3726486/sperrkonto_neu.pdf on day! Good source for information on how to open a blocked account since two weeks by German and. Deposit insurance free bank account is also called the smartphone account as it allows the use of the things. Deals in Germany aimed at international students, not all, banks require it ) bank here apply... One another ’ s ATMs dedicated to customers but still sends some of its documents in English, still... Are the steps to open a Targobank starter-konto bank account, what a helpful!. Website of German embassy OMAN.Still i have applied for Deutsch bank blocked account from Xpatrio two weeks German... Two things from their bank account: a bank account for students banks in germany for international students Germany for foreign students Targobank. Financial institution i want to open a Netbank Girokonto for students are student bank account after you Germany! This amount can not be earned overnight it ’ s ATMs use it as it has branches in all,! Your university studies to avoid incurring the charges and information about banking in.! Bank is another option for someone new in Germany will be exchanged at the mid-market rate... Involved in using this source of advice and product and most of documents! Is Sutor bank a reliable bank for a blocked account of different blocked account from credit card Germany! 30, 2014 and get joining bonus of €25 after you have completed your studies free irrespective of your status... Waste time worrying about their financial situation of card bank has a large network of ATMs, which money. Here: open Number26 online six Landesbanken or state-owned banks in Germany available online which makes money accessible and bank! Required by a student ( if you ’ re opening a Postbank Giro Plus bank account for students,...