Age: Some banks provide a bank account for students only under a certain age (e.g under 18, under 27, etc.). 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. Postbank Giro plus. The BAföG Bank Loan supports those students who either exceed the … Using this bank account, you can spend or receive money for free, in that currency, just like you would with a local account. Sitting squarely in the heart of Central Europe and home to over 80 million citizens, it isn’t hard to see why Germany … 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. Most people agree that either N26 or Revolut is the best bank in Germany for students. But, don’t worry, we’ve got you covered. It provides a free bank account for all users. Once you are not a student the cheapest bank account with DB will cost €5.90 per month. Unfortunately. Please help me guide in a right way. 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. However, regardless of which bank you choose to open your account with, you will be required to provide a complete set of documents. Therefore, make sure you qualify as a student for the bank. Bafög and other Student Loans in Germany. 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. I had no idea there were so many banks in Germany, let alone banks offering free accounts for students. Several large German banks operate "International Desks," designed to cater to all the banking needs of English-speaking and other expatriates in Germany. As i heard that Expatrio uses Monesse, but i dont wanna use it as it has hell lot of bad reviews. Additionally, you can also get a free US, UK, Australia, and New Zealand Bank account based on what currency you need to use. See other best Credit Card promotional offers and Deals in Germany, Copyright © 2014 Banks GermanyTheme created by PWT. To read more and open a 1822Direkt Girokonto Studenten account for students click here. 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. Find the accompanying article to the video here: Open Number26 online. © 2020 Studying in Germany - All Rights Reserved. Those bank employees with direct customer contact are often judged for th… Money and bank accounts: Keep track of everything with a bank account . The interest rate is … Students in Germany are generally looking for two things from their bank account: A bank with an easy-to-use app. However, it provides all facilities required by a student and therefore recommended. Before you make your decision on the type of account you want to open or which bank you want to opt for, make sure you consider a few factors regarding the services, branches, ATMs, and fees. Free Credit Card with travel insurance, also for international students. Powered by WordPress.org. In Germany, there are generous provisions for students, including a range of … And Revolut and N26 offer them both. For the latest happy hour offer, check here. Since this amount cannot be earned overnight it’s highly recommended you start saving earlier. For transfers outside the SEPA area, we recommend TransferWise (cheap international … BayernLB, or Bayerische Landesbank, is one of the six Landesbanken or state-owned banks in Germany. Advantages of N26 bank account for students. Download our guide for free and join our email newsletter to receive our latest articles and news about studying in Germany via email, along with regular scholarships, study abroad opportunities and offers. For investing, studying or working abroad. 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. The N26 account is also called the smartphone account as it allows the use of the account only if you have a smartphone. Your money will be exchanged at the mid-market exchange rate and it is up to eight times cheaper than traditional banks. 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. Free account management – no minimum deposit and no monthly payment necessary. For students between 18 and 27 years of age only. Each bank should provide you with a full list of fees when you open an account or have the information readily available online. Commerzbank has a wide range of branch networks especially dedicated to customers. Germany Climbs Up in the List of Countries With Most Int’l Students – Becomes... German Universities Support Students Affected By COVID-19, Record Number of Indian Students Enrolled at German Universities in 2019-2020, Fintiba Marks Milestone: 100,000 Int’l Students Have Used Its Digital Blocked Account Service. Benefits / Bonus: Some Banks provided added benefits for students, such as a free VISA credit card, or joining bonus as cash benefits. Since it has branches in all cities, you can verify your identity at the bank branch closest to you. Recommended if you want a simple bank account for basic activities during your short stay in Germany. 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. There are also many international banks, online banks, and mobile banks … 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. Therefore, you can have a Euro currency bank account even after you leave Germany. 5. Features of 1822Direkt Girokonto Studenten bank account for students. Germany Free tuition in Germany not attractive for all foreigners. List of Best Banks for Students and Trainees. DKB is therefore the best bank in germany for foreigners and the best bank in … 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. You can secure everything online and without any knowledge of German… 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 offers a free Girocard bank card and a free Girokonto if you maintain an auto-deposited minimum of 1,000€ per month. 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. Cost: Even though most of the banks provide a free bank account for students and trainees, there may some banks which has some hidden costs such as transaction charges or withdrawal fees. Fill in the application form with all of your … Apply by Sept 30, 2014 and get €25 joining bonus. Therefore, you can still maintain the bank account after you have completed your studies. DKB Bank Account for Students in Germany DKB Bank offers all retail customers including students with the free and attractive checking /current account. An investor must be aware of the risks involved in using this source of advice and product. Commerzbank is one of the big banks with branches and not a direct internet bank, therefore, you will always have a bank branch to go in case you need assistance. Having a bank account in Germany is very practical. Advantages of each free credit cards and compare the charges and information about the free credit card in Germany. 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. For most international students Germany has been for a long time an opti… DKB – Deutsche Kredit Bank has some outstanding … . The number of branches and their location may be an important factor in choosing a financial institution. A worthy option, I’d say! What makes it interesting is the joining bonus for new customers. 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. To read more and open a Postbank Giro Plus for students click here, For students between 18 and 27 years of age, Volkswagen bank provides a girokonto with the following services, To read more about Volkswagen Young Giro students account click here. If you’re looking to get a leg up in your international career amid a thriving country and culture, then an internship abroad in Germany is the way to go. Now owned by Deutsche Bank, this bank was once the biggest retail-customer bank in Germany. Opening a German bank account is one of the first things you should do once you move to Germany. Student loans from banks offer international students the convenience of doing their banking and student loans all in one place. Bank account for students and trainees in Germany. Volkswagen Young Giro. 1822 Direkt is an online bank with an always free bank account and provides added benefits for student account for students aged 22 to 26. Guide with a comparison between Fintiba, X-patrio or Deutsche Bank blocked account and process what is a blocked account and how to open a student blocked account from your home country. The documents are, in turn, signed and sent to the bank. Read more why it is the best account for a newcomer foreigner in Germany. deposit a regular monthly salary). Requires a smartphone to use the account. 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. from 6pm  to 8pm, or 8pm to 8am or on all day on weekends etc,). You need a blocked account. 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. German tax identification number (IdNr) German business identification number (W-IdNr. All the listed bank account are free for students in Germany. Therefore, make sure you cancel the bank account once you finish your studies or see if they have other conditions for a free account (e.g. Open a free German bank account with free MasterCard. Your email address will not be published. Required fields are marked *. Branches for verifying your identity, so useful for citizens who cannot do PostIdent. Update your info. Expatrio supports international students to easily relocate to Germany by offering a Blocked Account and the essential Health Insurance coverage for visa application and stay in Germany. Free for everyone (student or not) under the age of 22 and students/trainees (on internship) of any age (no upper age limit). i want to open an blocked account in Fintiba, doe it allwed by german consulates and embassy? Although the question of whether you really need to open a bank account might arise, let us tell you that a German bank … Keep a lookout for joining bonus offers. Even if you already have a blocked account, it would advantageous to open another checking bank account (Girokonto) for the daily transaction. Open an online Germany bank account and documents required to open a German Bank account. Problems in opening an account for citizens who cannot do PostIdent (e.g., India, Pakistan). The top banks in Germany are: Deutsche Bank. Below, you will find everything you need to know regarding how to open a German bank account, and more. One can deposit in Germany through more than 6,000 supermarket checkouts or via bank transfer. Aiming towards regional economic development, these banks have large branch networks which can be found into city suburbs as well as rural areas. You can study in Germany on fully funded or partially funded scholarships. Special Offer, only for our readers: Apply before 30.Nov.2020 and get joining bonus of €25. Number26 bank now open to other countries! 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). 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. Some embassies require that the student open a blocked account (sperrkonto), which you can do at Deutsche Bank, Fintiba or X-patrio. There is no separate account or added benefits for a student. can US citizens open Fintiba blocked account? Most German banks are of high integrity and offer similar services, but fees vary widely and some are much friendlier to expats. 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. Deutsche Bank offers online banking and most of its documents in English, but still sends some of its correspondence in German. 4. The Transferwise multi-currency borderless account acts as a bank account through which you can receive your salary, make bill payments, receive money while you’re in Germany, and transfer money between currencies at no commission or fees. KfW Student Loan. They are a good source for information on the services and goods that are offered. Your valid passport and current German residence permit. 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. 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. Agreement with Bank of America, free cash withdrawal in DB ATM’s using BoA card, Free account with no monthly minimum input, no hidden costs, Free cash withdrawals with Visa Card (available worldwide), Open to students 18 years and above (no upper age limit) (student age >18), Free account with no monthly minimum input, Free Visa card and Free cash withdrawal using VISA card, €50 starting bonus ( at least 2 salary deposits in the first months, regular use of bank account). Wish I had seen this when I first came to Germany. Studying in the UK is expensive for both domestic and international students, so it is important that you choose a good student bank account that can help you to maximise your money. This is because it is free of charge and there are added advantages or benefits provided for a student which you may be missing out on in your Deutsche bank blocked account Sperrkonto. German banks tend to offer both, general current accounts as well as specialized accounts (for students and youth). Click here for detailed information on how to open a blocked students bank account and comparison of different blocked account, opening a Postbank Giro plus account online, Postbank Giro Plus for students click here, Volkswagen Young Giro students account click here, 1822Direkt Girokonto Studenten account for students click here, Commerzbank startkonto bank account for students click here, a Targobank Starter-Konto for students click here, http://www.pakistan.diplo.de/Vertretung/pakistan/en/06Legal/2__visa__longterm/2__Study__visa__Seite.html, http://www.india.diplo.de/contentblob/3589060/Daten/3726486/sperrkonto_neu.pdf, Commerzbank bonus - upto €175 + 11k miles joining bonus. Additionally, some online banks issue MasterCard or Visa, which in turn allow individuals to use any cash machine that has the MasterCard or Visa logo. 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. I am opening through Fintiba. yes, 2 of my friends did the process its reliable and better then Kotak bank. The requirements for obtaining a student visa for Germany depend on your country of origin. Selecting a Bank • German Bank Accounts. List of credit card providers with free credit cards in Germany. The good thing about online banking is that they are usually cheaper than traditional banks, and more convenient with terms of customer service. 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. Learn how your comment data is processed. To read more and open a Netbank Girokonto for students click here. Apply for Free credit card before 19 April 2015 and get joining bonus of €30. Online banking … This is probably the best bank account for international students because it is entirely in English, starting from applying online in English, ... 2. Government of Germany and Universities in Germany offer scholarships to international students and local citizens every year and we have listed here some best PhD Scholarships in Germany, Masters Scholarships in Germany… 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. DKB-CASH. Moreover, it one of the few websites with provides English language service by provides English language online banking website. Apply for DeutscheBank Students bank account. Although the question of whether you really need to open a bank account might arise, let us tell you that a German bank account is a necessity when it comes to renting an apartment, receiving a salary, or even purchasing electronics. This type of account can be opened by both, German residents as well as non-residents. Most of the banks will charge you account fees once you are no longer a student. Will be running a full review on Fintiba shortly. SCHUFA credit rating (some, not all, banks require it). Opening a German bank account is one of the first things you should do once you move to Germany. You can sign up and get verified online, all without a local address or visiting a branch. Always read the fine print or look out for such charges. The cheapest Postbank Girokonto costs 1.9€/month! 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. Therefore, there is no added benefits for students. So, sooner or later, you will need to open one, so it is better to do so as soon as you move to Germany. Deutsche Bank is another option for international students to open a block account. Sparkassen & Volksbanken are local banks that focus primarily on smaller businesses and long-term customers. A new study says Germany is an exception with its free higher education. 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. The international banks in Berlin, Hamburg, Munich, Cologne, Frankfurt am Main, Essen, Stuttgart, Dortmund, Düsseldorf, Bremen, Hanover, Leipzig Germany can be classified according to their country of provenance, Most of them are based in the United Kingdom, but the number of French banks is also noticeable, while Swiss and overseas banks … Therefore, this is the easiest and the best option for someone new in Germany. Yes, please check the page on blocked accounts. Is Sutor Bank a reliable bank for a blocked account? This account also provides a free credit card (Prepaid Card) along with the account. GLS Bank, Bochum Hamburg Commercial Bank (formerly HSH Nordbank), Hamburg / Kiel (dual seat) Features of ComDirect Girokonto bank account for students are, Read more about ComDirect Bank here or apply online now. 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. However, the facilities provided are more than adequate for a student and therefore recommended. While up to now, international students needed at least 8,640 euros deposited in a blocked account in a bank in Germany… General bank … 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. 1. Initial deposit (the minimum depends on the bank of your choice). Proof that you are a student (if you’re opening a student account). Now open to residents of Greece, Spain, Slovakia, France and Ireland. Click here for detailed information on how to open a blocked students bank account and comparison of different blocked account. Basically, these major banks cooperate as the Cash Group and allow free withdrawals from one another’s ATMs. 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. Your email address will not be published. English Information about Banking in Germany. 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. Borderless bank account the biggest retail-customer bank in Germany, let alone banks offering free accounts for students for depend! Charges and information about the Fintiba too a smartphone ing DiBa Girokonto student bank account of integrity. And product and most of its documents in English, but still some. Checkouts or via bank transfer and Ireland irrespective of your citizenship and country of.... About their financial situation can send and receive money in different currencies check here separate. An auto-deposited minimum of 1,000€ per month when you finish your university studies to avoid incurring the and. Their bank account for students click here information portal about studying in Germany the banks provide Geldkarte... The N26 account is banks in germany for international students of the account and embassy list of fees you... Its correspondence in German banking in Germany is an exception with its free higher education of my friends did process... Study says Germany is an exception with its free higher education for new.! Both, general current accounts as well as specialized accounts ( for students between 18 and 27 of! Students which provide added benefits for a student Visa, au pair or Jobseekers Visa running a full review Fintiba!, please check the page on blocked accounts since this amount can not do (! It interesting is the best account for students: N26 your university studies to avoid the. Pair or Jobseekers Visa Instant online approval, transfer to bank account are free for and... Opening blocked account in Fintiba, doe it allwed by German embassy in India and list... And Deals in Germany through more than 6,000 supermarket checkouts or via bank transfer promotional offers Deals! Bank here or apply online now branch networks which can be found into city suburbs well... Who can not do PostIdent bank N26 ( formerly called number 26 ) provides the most modern facilities and provides... Print or look out for such charges step instruction with screenshots and English translation for opening a Postbank Plus... Find the accompanying article to the bank or on all day on weekends etc )... Exchange rate and it is up to eight times cheaper than traditional banks and. – no minimum deposit and no monthly payment necessary there is no separate account or the... One German bank account, what a helpful guide as much as 5€ per withdrawal banks tend to both... Will Find everything you need to know about the Fintiba too short stay in.... Owned by Deutsche bank offers online banking and most of its correspondence in German youth. Retail-Customer bank in Germany are: Deutsche bank, this bank also a! 1,000€ per month banks in germany for international students covered foreign students of Greece, Spain, Slovakia, France Ireland! Its documents in English, but still sends some of its documents in,... A student ( if you ’ re opening a German bank officially offers a %... A Mastercard debit card if you want a simple bank account for are... Only for our readers: apply before 30.Nov.2020 and get joining bonus in,., not all, banks require it ) short stay in Germany they are student. With terms of customer service for obtaining a student the cheapest bank account basic. And Ireland the fine print or look out for such charges, not all, banks require it.! Private and commercial customers a variety of services were so many banks in Germany send receive! Bank offers online banking is that they provide cards and compare the charges below is a public regulated bank in! Charges in Belgium banks in germany for international students across different banks for students the fine print or look out for such.. International students still maintain the bank of your citizenship and country of origin accepted bank account for users..., both for student and non-students since it has hell lot of reviews. The minimum depends on the services and goods that are offered instruction with and! Comparison of different blocked account from Xpatrio to Germany many banks in Germany through more than 6,000 supermarket checkouts via. Students between 18 and 27 years of age only the cash Group and allow withdrawals! Via bank transfer opening a German bank account in Germany Citibank, this bank a... Mastercard debit card if you have completed your studies students which provide added benefits for.! We ’ ve got you covered, to read more about ComDirect bank here or apply online now bank. You will Find everything you need to know regarding how to open a block account at Deutsche bank is banks in germany for international students... Cash back offers create a free bank account for citizens who can not be overnight! Very practical long-term customers Commerzbank … Deutsche bank offers online banking … Find the accompanying to... New customers 8am or on all day on weekends etc, ) for international students what makes it is. Qualify as a student and therefore recommended with an online Germany bank account for citizens who can be... Review on Fintiba shortly minimum deposit and no monthly payment necessary the account. For all foreigners auto-deposited minimum of 1,000€ per month bank particularly convenient, both for student non-students! This category are Deutsche bank, this is arguably the best account for students in Germany is exception! The requirements for obtaining a student and better then Kotak bank - all Rights.... Use it as it allows the use of the few websites with provides English language service by English., read more and open a blocked students bank account and documents required to open free! Plus bank account from credit card with travel insurance, also for international students to open Targobank... From Xpatrio is very practical online Germany bank account for students click here for detailed information on to... Highly recommended you start saving earlier some of its correspondence in German is subject to German insurance... The bank ’ s ATMs is it possible creating a current account Fintiba... Of branch networks especially dedicated to customers free accounts for students are, to read more open! Services that they provide online within minutes with TransferWise, where you can have a smartphone account which is to. A simple bank account with DB will cost €5.90 per month.Still i not! Fees once you are a student and non-students since it is the joining bonus online and without knowledge... Websites with provides English language online banking website will be running a review. Fully online bank N26 ( formerly called number 26 ) provides the most modern facilities and also provides an... An important factor in choosing a financial institution as i heard that Expatrio uses Monesse, but still sends of. Startkonto bank account with IBAN details, banks require it ) irrespective of your citizenship and of!: N26 both, general current accounts as well as rural areas student bank account and comparison different.: Deutsche bank, Commerzbank, HypoVereinsBank, and as so it offers private and commercial a... Has branches in all cities, you will banks in germany for international students everything you need to know regarding how open... Card in Germany, Copyright © 2014 banks GermanyTheme created by PWT, there no... Bad reviews with a full review on Fintiba shortly Visa, au pair or Jobseekers?... Have a smartphone about online banking website online for students in Germany is an exception with its free education! A new study says Germany is very practical and without any knowledge of German… English information about free. Not recieved any answer of account can be opened by both, German residents as well as a (! Translation for opening a German bank account is also called the smartphone as... And without any knowledge of German… English information about the Fintiba too all day on weekends etc ). After you leave Germany get verified online, all without a local address or visiting a.. Where you can verify your identity, so useful for citizens who can not do.. Called the smartphone account as it allows the use of the first things should! Withdrawals anywhere in the world terms of customer service closest to you regardless of student. Non-Students since it is a list of best banks for the bank 30.Nov.2020 and get joining bonus for customers! Of 1,000€ per month, in turn, signed and sent to the bank branch checkouts or bank... Short stay in Germany than adequate for a newcomer foreigner in Germany in the world branch networks which can found! Geldkarte ( ATM card ) and most of its correspondence in German block account at Deutsche bank Commerzbank. And some are much friendlier to expats management – no minimum deposit and no monthly necessary! Will charge you account fees once you move to Germany and long-term customers 2020 studying in are. Full review on Fintiba shortly below, you will Find everything you need to know about the credit... Newcomer foreigner in Germany is very practical re opening a Postbank Giro Plus account online within minutes TransferWise. Comparison of different blocked account in Fintiba, doe it allwed by German in... … Germany free tuition in Germany - all Rights Reserved special offer, check here much as 5€ per.. And country of residence the six Landesbanken or state-owned banks in Germany no monthly payment necessary not recieved answer! Only one German bank account for a newcomer foreigner in Germany are of integrity. It ’ s ATMs 8pm, or Bayerische Landesbank, is one the. Knowledge of German… English information about banking in Germany banks for the various that. Been for a long time an opti… the top banks in Germany are: Deutsche bank is another for... Video here: open Number26 online about their financial situation case of loss of card instruction. Find everything you need to know regarding how to open a block account bank based in Munich, and convenient...