Open a bank account in Germany

Basic information for 

Open a bank account in Germany

Bank Types in Germany

 

In Germany, people may divide banks into two different types. This is important to know when people want open a bank account in Germany.

  • Branch banks
  • Direct banks

 

Branch banks In Germany

Branch banks are financial institutions in Germany that offers public service. Among the biggest banks in Germany are: Deutsche Postbank, Deutsche Bank, Commerzbank, and many more. Customer which need personal contact with their bank, might choose to open an account with a branch bank. Those German banks usually open Monday to Friday, as only few do operates also on Saturday and Sunday.

 

Direct banks In Germany

Direct banks are financial institutions in Germany who operate purely via the Internet, phone or mail.

Among the largest of these direct banks are: Comdirect Bank, Netbank, Norisbank, DKB, Consorsbank, ING-DiBa and 1822direkt. Due to the fact that they don’t have to maintain so many properties as Branch banks do. They Direct Banks most of the time do offer much more attractive rates. Direct Banks usually allow their customers to use ATMs all around Germany to withdraw money for free, as they cooperate with branch banks to provide this kind of service.

Most of the Direct banks in Germany provide you with the option that customer may open an account over the phone or online, instead of open a bank account in person.

 

Mаnу bаnkѕ’ websites (іnсludіng those of major banks) аrе entirely іn Gеrmаn, ѕо mаkіng аn online application will bе a сhаllеngе if you dоn’t understand the language. In аnу case, you’ll nееd tо be physically present in Gеrmаnу in оrdеr to аррlу fоr уоur account. This іѕ bесаuѕе уоu can оnlу оbtаіn ѕоmе оf thе rеquіrеd dосumеntѕ (and соmрlеtе thе ассоunt opening рrосеdurе), оnсе уоu’rе іn the country.

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