If it wasn't for you two my first month in Germany would have been a lot harder. Thank you a lot for this content. Please continue helping expats adapting more smoothly :)
I am from Brazil and have been in Düsseldorf since October. Your videos have helped me so much, thanks for that and keep up the good work! Just one thing. In my experience, I opened a Wise account when I was still in Brazil, with only a Brazilian passport. I was able to get an account with a Belgian IBAN without having to present residence permit or anything like that
I looked up your video once more after arriving in Germany just to register myself in Commerzbank with your referral link. Thank you for all of the information and your commitment! You are the best!
Thanks for the helpful Video ... as an Armenian National 🇦🇲 the fastest Option was Sparkasse: Giro + Tagesgeld Account + Debit Card Passport and my Anmeldung Paper only ... however they have requested the tax identification Number later (as soon as I got it). The other Option is Revolut Bank: Check Account with Passport only.
Super helpful. Thanks for all the hard work. Another idea that admittedly requires a lot more work would be to rank ways of transferring money abroad. Many internationals support our loved ones back home by sending them money, aka remittance. This hiwever requires a two-sided search (German bank, home bank).
Thanks for your suggestion! Is there any service you've used that you're happy with? We know Wise is a great option to send money abroad. Have you tried it?
I came to Germany in Oct 2023 on a type d blue card visa. I did my anmeldung on 22 Oct and I applied for the commerz bank online my account was created but it was not fully accessible so I needed to visit the branch. There I just gave my anmeldung paper and passport and my account was activated with all its features. Overall I am happy with it as well
i have been a happy commerz bank user, and all info here is accurate. I didn’t need residence permit to open the account! the disadvantage is the use of the card for purchases in other currencies, and also had a little hiccup issue with apple pay not working properly, but customer service as efficient and helpful. also, transactions take about a day or two, to show on the app and online banking.
9:10 You are absolutely right! I am a non-EU citizen (Indian) living in Stuttgart, and I was able to open my Commerze Bank account without the residence permit as well. However, they do require the address registration document. Also, if your name has any variations of "Muhammet" in it, the "system will not let them" open the account. This happened to my Turkish colleague, same branch and we had joined together. This was further confirmed by an Egyptian friend whose name is also Muhammed.
Hello....should I need city registration and tax ID to open N26 account? I'm currently waiting very long to get my city registration completed and couldn't open any bank account for the past 2 months.
since we have learned so much about Germany on your channel, I guess it's about time to share at least some info on Guatemala here, too. I'd be pretty much interested.
Nice video as always, just one thing about the bank account fees though, by Sparkasse or Deutsche Bank, you can usually have it waived if you work for one of the larger international companies. Sometimes just asking your Bank rep, can get you out of these "fees", another thing to look for is a Tagesgeldkonto conditions when you decide which Bank, this is where you can earn some interest when you park the money in it, which you can take out any time. The savings account (Default) doesnt give you any interest payment but the Tagesgeld will give you anywhere between 2.5 to 4% these days
Thanks for your insights! 😊 Regarding Tagesgeldkonto, we recently released a video on that topic and here one can 'shop' around a bit to look for the best interest. Not all banks in our comparison offer a Tagesgeldkonto.
Super helpful content! One comment regarding Commerzbank: at least since the end of 2023 Belarus citizens are no longer allowed to open accounts there too. And it's getting revealed only during the application process when you get to the branch office to show your apartment registration - all my Belarusian colleagues who relocated to Germany since December 2023 were rejected with an account because of "sanctions".
Another random data point: commerz let me open before I had my residence permit (New Zealand citizen, online it was easy following your video - just went into the branch with my passport to verify my ID)
Using Commerzbank since first days in Germany. The only con is that transactions take some time to show up in payments history, which create somewhat difficulty for bookkeeping.
Yeah. All traditional banks work like that. Mobile banks are faster in that sense. That’s why we thing having a combination of traditional and mobile banking might be the best setup.
One think one pillar should also be the credit facilities, because Commerzbank interest rates are the highest interms for private loan , auto loan , housing loans etc
My additional advice is to use the german bank account for money transactions within Germany only. Avoid international money transactions..Otherwise, your bank account will be likely blocked by your bank. Then you have stress. The money laundering legislation is very strict in the EU. The use of the bank account for sales on ebay or for gambling is also very critical. 100% account blocking is guaranteed.
Another important point to consider for choosing the bank especially for International customers is - The account statement languge. This criteria sounds funny, however the German bank account statements are not useful for large part of the world unless translated in English. The translation cost for account statement, belive me, is in few hundread Euros. So according to me, Apart from English support, if the bank provides the English account statement - Prio1!
Thank you for the work and info. In my opinion having a n26, revolut and commerzbank, I believe the last one is good as a salary account, but no ability to send money overseas ( you have to visit a branch to check) and I mean France in this case. Overall I find n26 the best all arounder.
N26 does not permit opening a bank account without a blue card for verification if your address is in Germany(or you are living in germany). I encountered this issue last week, but fortunately, Commerz Bank came to my rescue!
In my experience, all the online banks fail. I arrived in Germany at the beginning of November and did the Anmeldung one week after. My working contract started middle November and I needed a German bank account (ASAP). All the online banks asked me for my residence permit (Aufenthaltstitel). This usually takes 1-3 months depending on how close you get to an appointment and the issuing itself. I tried to explain several times to several banks (8) that I only had the visa and that the residence permit appointment was in process, and I only got refusals. The second struggle was the TaxID because also the banks needed it. It usually takes 2-6 weeks to be generated after the Anmeldung. And also that was the reason I got many refusals. Finally, I was lucky and Deutsche Bank allowed me to open an account only with my passport and without TaxID. And as soon as I got them I gave them the missing document and information. So basically I was lucky that my banker had mercy and understood the bureaucracy loophole that is to arrive in Germany.
With N26, there was a time back in 2021 when they did offer both the EC carte and Mastercard debit card as a combo for free. I have both the cards from back then. Sad to see that they introduced a fee there. N26 standard isn't truly free anymore then.
In my experience, I couldn't open an account with Commerzbank in Germany. When I entered the bank and asked to open an account, I informed them that I didn't yet have a residence permit (which was in progress), but they didn't check any of my documents and rejected my request instantly. This isn’t the same with friend, he can open it. My assumption is depending on branch and how you look to them.
Excellent update, thank you. One other mention is that some of the banks does not offer or offer a limited credit products. N26 has a maximum of 25k euro credit product, not suitable if you want to start investing. And this is my highest drawback to N26, everything else is excellent for me.
I am moving in a a couple weeks and been investigating banks and temp banking options to setup some things before I can register in the city. Strongly considering Commerzbank as my future main banking and might use bunq or wise.
i am in DKB, and it is not correct they are 100% in German, their mobile app is in English as well (for both Android and iOS). only their webpage is in German (google translate can do a good job there). but they have great conditions like free withdrawls worlwide, no currency exchange fee, free payments everywhere by card. I was accepted with no problems. ID check can be done in English too.
Indian in Bonn! Opened a commerzbank account with just city registration. Revolut asked me to update my city registration within 3 months of opening my account
23:30 Yes, but that's not standard. Depends on where you're living. I have a Dutch IBAN at bunq for example, but I'm also not living in Germany. 😅 Useless information probably, but just wanted to mention that.
I am from Somaliland Africa and I opened my bank account in Düsseldorf without residency permit, however I know foreign students who were rejected by Commerzbank.
Commerzbank bank has a rule that people without residence permit of more than 6 months cannot apply for an account. This is the case with most of the people who come here with a temporary Visa and then apply for residence permit. Some branches overlook this but some others don't. Had bad experience referring my friend to this bank in Munich and none of them accepted him as a customer.
I have managed to successfully pay in the Düsseldorf Ausländerbehörde with an N26 debit card in January 2024, It seems they have updated their systems. When I originally went in 2022 I had to use a Gyrocard. It's still a great idea to have a Gyrocard, my Friseur still doesn't accept other methods!
As an Indian in Reutlingen(near Stuttgart) a Steuer ID and a Stadtanmeldung was required to open a student account in Commerzbank. Although their phone chat said otherwise. Also, their in-bank personnel were kind of rude in dismissing us(me and my friend, also a student) when we asked about the possibilities. Which is why I had to stick with Sparkasse.
Thanks for sharing. Each branch really is somewhat different. It is weird though, since Commerzbank specifically offers a student account. The Meldebescheinigung is normal that you need it and the tax ID you should be able to hand in later, once you have it - but again, different experiences everywhere.
@@simplegermany Yeah, seems to be the case :) However the experience with people generally has been nothing except spectacular. I guess that's what matters more ;)
Thank you guys, I liked very much the video. I would like to share my experience as Brazilian who arrived in Portugal, before having my residency N26 was the only digital bank that have accepted me, Revolut only accepted me once I had my residency card in hand. Cheers.
i had similar experience, although im EU citizen. needed a german bank account for my workplace but i had no luck with opening a bank account, tried Sparkasse, Deutsche Bank you name it but simply they didnt react or the process stopped for some reason, then saw n26 and saved the day.
I tried to apply N26 but they said must have a resident permit physical card in order to process. Which is kind of annoying. As the auslanderbehorde said it's too early for me to apply for the resident card and I need to cash urgently, especially when first time reach Germany there's no physical card. So I went to Sparkasse instead no requirements for the resident card.
I am ING customer and when I call customer service and ask for an english speaker they usually forward my call to one. Documentation is all in german though.
I have used all your videos for my transition to DE. I just presented my D-visa, Registration and my Commerzbank account was opened without any question. I did my registration and opened the account on the same day. I have not applied for my residence permit yet. I am from Jamaica.
I’m from Brazil and was able to open an account on Commerzbank here in Munich in the first week after moving in overall pretty good experience. How about Trade Republic? They have a card as well don’t they?
Glad to hear! In our opinion Trade Republic focuses on investing. Yes, they received their own banking license at the end of last year and do offer a banking card nowadays, but they don't provide much information at all regarding a checking account. It's too early for us to consider them as a true banking alternative to the more established options.
Hello, thank you for all your effort for making our settlement more smoothly! At the beginning of February 2024 , I opened my Commerzbank account thanks to you and your videos! I have my girocard and virtual card now. I added my virtual card to apple pay. However, since there is no CVC and last validity date of my virtual card, I cannot use it online. How do you solve it?
Good point! Sorry we did not mention it in our video. The virtual debit card is created for mobile payment and not for online payments. For mobile payment, you can connect your bank account to PayPal and use it when possible. If that’s not an option, then having a mobile bank to complement your traditional bank might be an option (that’s what we do). If you don’t mind paying a monthly fee, the physical debit Mastercard from Commerzbank costs 3,95€.
True bike insurance is usually meant for theft. But a few providers also offer cover for wear and tear. Hepster is one of them, you can find more information in our guide: www.simplegermany.com/best-bicycle-insurance-germany/ 😊
Do strictly online banks like N26 satisfy this requirement or is a physical bank account required? My understanding is that a German bank account is required for certain activities like getting utilities. We are US citizens and will start out in temporary housing. This video, like most of your others, took a lot of time to create. Thank you for all your valuable content!
N26 is a fully licensed German bank, it just doesn't have any branches. Whether that is important to you is personal preference. 😊 You can use our tool to find out which German bank is available to you during your settling depending on your nationality and residence status: www.simplegermany.com/banky/
It was rated among the best bank accounts in Germany. However, it is fully in German which is why it is not part of this video. We talk about it in this guide: www.simplegermany.com/best-bank-in-germany/
I would love if you could give updates about news for immigrants like the strikes of bus trains and also I feel more disconnected with German news that impacts life of all residents of Germany.
Hi Jen & Yvonne, thanks for all the information you share! I have a question regarding the blocked account money for the Opportunity Card visa. Let's say, I arrive in Germany and manage to get a part-time job there after a month that pays me sufficiently to run my daily expenses. In that case, do I still need to keep the deposit in the blocked account or is there a way to withdraw the money and maybe close the account?
As far as we know one can’t close a blocked account early, but just ask one of the service providers with your example. We release a video on the topic on Monday 😊
Mexican/Spanish I had been client from DKB since my Praktikum years a go. I applied and gotten without problems. My first a account was from sparkasesse tho. Not sure that helped
Very good explanation, but I want to add two important points. Firstly, you didn't talk about the TF-Golden card; I don't know why. Secondly, you didn't mention anything about the insurance systems of the banks, such as travel, accident, luggage, and health coverage, and the benefits they provide. I'm looking forward to your answer. Thanks.
Sparkasse worst Bank, I used it for more than 6 years,monthly deduct 8,99€ for a normal account without credit/debit card.and I was not able to deposit from other towns! in middle east you can deposit from small villages but in Germany not ,with 9€ fees!
Ah good to know about the languages in the app. But the banking license is definitely Swedish with the deposit insurance in SEK and not in euro. They have a subsidiary in Germany which is why they can offer a German IBAN. 😊
A German Girokarte is a "debit card", but it is not linked to Visa or MasterCard, which many English speakers might be familiar with. Therefore, one would never have the opportunity to select "cash or credit" as they may be accustomed to. Also, why isn't FATCA mentioned in this video?
I am a German citizen currently working in the USA. But, I am moving back to Germany at the end of this year. I want to start putting my disposable income into an account in Germany. Which bank can I use? All the banks I looked at say I have to reside in Germany. Thanks
Yeah you need to be a resident in Germany. You can try to go to a Deutsche Bank branch in the US and see if they can open one for you or open a wise account and use their Euro account to deposit money in it. You can find our partner link on the description 😊
For example, I am a Romanian citizen, I recently moved to Germany, I made my residence documents and tried to open an account at N26, but it does not accept the opening of the account at all, because Romania is not registered in that list of nationalities. The highlight is also the fact that Romania is in the EU and passports are not necessary in order to move freely on the territory of EU countries... but it doesn't matter, you still can't become a customer. 🧐
What about those banks that claim you can open a account before you even land in Germany, but I haven't found one of those claims to be true on other blogs I came across.
One of our criteria is for the bank to have some sort of English support. As far as we know C24 is just in German. Are you using it? How have you liked it?
@@simplegermany Unfortunately they don't provide any English support. However, I think the other free bank like N26 doesn't offer Girokarte. On the other hand, getting MasterCard in Commerzbank requires extra fee. In that perspective C24 makes a lot of sense since they offer both the MasterCard and Girokarte for free on top of that there is also no account maintenance fee like, no minimum deposit requirements like N26.
This video is so useful. But I was searching for one of the topic in your videos which is hard to get in general for expats.. the sparbuch or Bankbürgershaft for rental deposit .. because no banks offer sparbuch anymore and not sure which bank offer Bankbürgershaft.. my landlord needs only these two for rental deposit so hardly stuck to get just information on this. If you know any info on this please do help 🙏
Yes, this is a very specific bank account also called Mietkautionskonto. We have ours with DKB. But another option would be to pay the deposit to your landlord and they place it in a specific bank account.
Hi both of you, thanks a lot for the amazing information but a Question. How come DB is similar to CommerzeBank but with a fee? How about the Das Junge Konto from DB with a Free cash withdrawals in over 60 countries and also without a fee? I am a bit confused now and would appreciate an explanation
How about guaranteeing the deposits of account holders? Do all these banks mentioned in the video have that? As far as I know, there should be something like a guarantee for up to let say 100 000 EUR, but not every bank participates in such a scheme.
I have a very specific request 😅. Any ideas on how it affects or anything additional I gave to do for tax returns if I have been trading stocks in Germany as a foreign student? Thanks, you guys are the best!
Yes, capital gains get taxed. But everyone has a free allowance of 1000 euros per year. You can find more information in our guide: www.simplegermany.com/how-to-invest-money-in-germany/
I am a French student coming to study my master in Munich next year, I already have a French account, is there any benefit to change to a create a German account?
You haven't covered the money confiscated issues in N26 without notifying and also it takes long to resolve it. Also please talk about Revolut and c24 bank as well.
Thank you for the great video! I'm a German citizen that not living in Germany (I have a Personalausweis and German passport) and I have a few questions, please 1. If I opened an N26 account and went out of Germany, can I still log in to the application, etc? although I have a different SIM card? 2. Do I need an Anmeldung to open a bank account although I have a Personalausweis? Thank you!!
As far as we know N26 is linked to your phone number. So you would need to keep the German SIM card active. As a German citizen, your Personalausweis should suffice ☺️
I was rejected by Commerz Bank in 2022. I won't advise anybody to bank with them. The most painful part of the debacle is that they refuse to give me a reason for the rejection.
I already have a wise account. Can I use this wise account to keep the money? We can only send cash with wise account. Right??? Is there any option to do the savings with wise?
I had an N26 bank account as an American back in 2021. I missed their emails and it got closed because there wasn’t enough activity. Now the account is closed and I can’t make another one as a US citizen
Hi and thank you for your information and update. I tried to open an account at Commerzbank, but because of my stay in Germany is limited; for example I have a permit up to 2026, they rejected my application. And said that for opening account in Commerzbank, I should have a permit with unlimited time/ without expiration date. So which one is best for those with my situation? Regards
We never heard about such a case. But of course there can always be other reasons for rejection, not based on nationality or residence status. You can try N26 or other banks that offer their services in German - you can find the links in the description.
@@simplegermany Thanks for your quick reply. I filled out their online application to open a new account, and when I went to their local branch to activate my account, they told me that for opening an account in this bank, you must have unlimited residency in Germany. Actually I came from Afghanistan. Is there such a restriction for Afghans?
Hello the video is very nice and it have very knowledge I have a one question I want to open bank account in Euro I want to know which bank account can open with only passport verification
Here is our take on Deutsche Bank: it is not a good bank for foreigners. Although it offers some of its services in English, it is not very consumer-friendly. Any bank account with Deutsche Bank comes with hefty fees. You can find the same banking portfolio at Commerzbank with better conditions.
I have been rejected without a reason by N26. I am a EU citizen livind, working and havind a residence (anmeldung) în Germany and still they refused opening a standard account. Maybe they just hate romanians, idk but i don’t like this bank anymore. Comertzbank seems more open and friendly 😊
@@MsMinoula first, when I opened the account and transfered money to it, it took 2 weeks to show in the balance because the account was new and the money „didn‘t find it’s way there“. So only after complaining, it showed up. Then I could only withdraw from Deutsche Bank ATM or pay high fees at other machines. It was a very old school (in a bad way) bank. Very conservative. Everything German oriented, non-inclusive. N26 in the other hand, the complete opposite. I opened the account online and could use right away, everything intuitive and in English too, I can withdraw anywhere and internationally too. A Bank 2.0, from the digital era
Same here..Deutsche was really old fashioned, seemed to be looking for a deep, lifelong relationship..when I closed it, the agent was astonished and demanded a reason why..I thought that I no longer wanted it was reason enough..N26 was ideal for me, salaried worker, never a problem, instant notification of transactions
@@davidelpenho oh OK I see what you mean. Thank you for sharing. I opened an account online a few months ago, I guess I took old fashioned as a sign of well-established. With all the grandpas/grandma's and all. let's hope they fix their issues before I'm in the same position. Too lazy to go through closing the account at the moment 😅
Hi guys for opportunity card we need compulsory IELTS or English language skills B2 in Cambridge English, because I have Cambridge English certificate B2 all other eligibility criteria having . For English skill Cambridge is enough 😑 r IELTS compulsory... Rlp guys
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This channel is a blessing.
agree
Yes, where were they, when I came here back in 1997??! I am jealous! Everyone now has it sooooooo damned EASY!!! 😅
For real 💯
Yeah
If it wasn't for you two my first month in Germany would have been a lot harder. Thank you a lot for this content. Please continue helping expats adapting more smoothly :)
I am from Brazil and have been in Düsseldorf since October. Your videos have helped me so much, thanks for that and keep up the good work!
Just one thing. In my experience, I opened a Wise account when I was still in Brazil, with only a Brazilian passport. I was able to get an account with a Belgian IBAN without having to present residence permit or anything like that
Nice bro, I also have a Wise account.
Great work! Your video helped me a lot! I came to Germany last year and had no problem in settling😀You guys helped me move to Germany smoothly!
I looked up your video once more after arriving in Germany just to register myself in Commerzbank with your referral link.
Thank you for all of the information and your commitment! You are the best!
Thanks for the helpful Video ... as an Armenian National 🇦🇲
the fastest Option was Sparkasse:
Giro + Tagesgeld Account + Debit Card
Passport and my Anmeldung Paper only ... however they have requested the tax identification Number later (as soon as I got it).
The other Option is Revolut Bank:
Check Account with Passport only.
Thank you very much for the detailed information you provided in this video
You two are awesome, thanks for the great content, big love from Berlin
Thank you very much for the nice video. I wished that there was such an informatic content when I moved to Germany.
Super helpful. Thanks for all the hard work. Another idea that admittedly requires a lot more work would be to rank ways of transferring money abroad. Many internationals support our loved ones back home by sending them money, aka remittance. This hiwever requires a two-sided search (German bank, home bank).
Thanks for your suggestion! Is there any service you've used that you're happy with? We know Wise is a great option to send money abroad. Have you tried it?
@@simplegermany Another service I know is Western Union money transfer..
And yes, please try to make a detailed video on this topic on remittances.
i am hearing transfergo a lot for turkey
There is Remitly, also Global66, of course Wise is also there
Very helpful and detailed video. Thank you for gathering all the info 💖
THANK YOU THANK YOU THANK YOU !! I NEEDED THIS AS i DON'T HAVE MY GERMAN RESIDENCE PERMIT YET!
I came to Germany in Oct 2023 on a type d blue card visa. I did my anmeldung on 22 Oct and I applied for the commerz bank online my account was created but it was not fully accessible so I needed to visit the branch. There I just gave my anmeldung paper and passport and my account was activated with all its features. Overall I am happy with it as well
i have been a happy commerz bank user, and all info here is accurate. I didn’t need residence permit to open the account! the disadvantage is the use of the card for purchases in other currencies, and also had a little hiccup issue with apple pay not working properly, but customer service as efficient and helpful.
also, transactions take about a day or two, to show on the app and online banking.
I love this channel. Thanks for sharing the knowledge 🙏🏽🙏🏽🙏🏽
Thank you so much for your fun and really informative videos!
You’re very welcome! Thanks for your super thanks! ☺️
I absolutely love my combination of ING in Germany/EU and DKB outside EU and I don't need to pay any atm and foreign transaction fees
9:10 You are absolutely right! I am a non-EU citizen (Indian) living in Stuttgart, and I was able to open my Commerze Bank account without the residence permit as well. However, they do require the address registration document. Also, if your name has any variations of "Muhammet" in it, the "system will not let them" open the account. This happened to my Turkish colleague, same branch and we had joined together. This was further confirmed by an Egyptian friend whose name is also Muhammed.
Did you have visa type D?
I opened my first German bank account with N26 and received my physical card 💸💸💸💸. Thanks Simple Germany for all the good information.
Happy to hear! 😊
Hello....should I need city registration and tax ID to open N26 account? I'm currently waiting very long to get my city registration completed and couldn't open any bank account for the past 2 months.
No you dont@@Yadhu_kattuparambil
since we have learned so much about Germany on your channel, I guess it's about time to share at least some info on Guatemala here, too. I'd be pretty much interested.
What would you like to know? 😊
Nice video as always, just one thing about the bank account fees though, by Sparkasse or Deutsche Bank, you can usually have it waived if you work for one of the larger international companies. Sometimes just asking your Bank rep, can get you out of these "fees", another thing to look for is a Tagesgeldkonto conditions when you decide which Bank, this is where you can earn some interest when you park the money in it, which you can take out any time. The savings account (Default) doesnt give you any interest payment but the Tagesgeld will give you anywhere between 2.5 to 4% these days
Thanks for your insights! 😊 Regarding Tagesgeldkonto, we recently released a video on that topic and here one can 'shop' around a bit to look for the best interest. Not all banks in our comparison offer a Tagesgeldkonto.
Super helpful content! One comment regarding Commerzbank: at least since the end of 2023 Belarus citizens are no longer allowed to open accounts there too. And it's getting revealed only during the application process when you get to the branch office to show your apartment registration - all my Belarusian colleagues who relocated to Germany since December 2023 were rejected with an account because of "sanctions".
Thanks for sharing your insights!
Thank you for all helps by videos ❤
Just searched for this, nice timing .
I am portuguese. Another coincidence
Another random data point: commerz let me open before I had my residence permit (New Zealand citizen, online it was easy following your video - just went into the branch with my passport to verify my ID)
Thanks for sharing!
Y'all are the absolute best
Using Commerzbank since first days in Germany. The only con is that transactions take some time to show up in payments history, which create somewhat difficulty for bookkeeping.
Yeah. All traditional banks work like that. Mobile banks are faster in that sense. That’s why we thing having a combination of traditional and mobile banking might be the best setup.
Update: Vivid it's separating from SOLARIS and now they require residence permit or having a EU passport
One think one pillar should also be the credit facilities, because Commerzbank interest rates are the highest interms for private loan , auto loan , housing loans etc
My additional advice is to use the german bank account for money transactions within Germany only. Avoid international money transactions..Otherwise, your bank account will be likely blocked by your bank. Then you have stress. The money laundering legislation is very strict in the EU.
The use of the bank account for sales on ebay or for gambling is also very critical. 100% account blocking is guaranteed.
Another important point to consider for choosing the bank especially for International customers is - The account statement languge. This criteria sounds funny, however the German bank account statements are not useful for large part of the world unless translated in English. The translation cost for account statement, belive me, is in few hundread Euros. So according to me, Apart from English support, if the bank provides the English account statement - Prio1!
Thank you for the work and info. In my opinion having a n26, revolut and commerzbank, I believe the last one is good as a salary account, but no ability to send money overseas ( you have to visit a branch to check) and I mean France in this case. Overall I find n26 the best all arounder.
Can you share what's better in N26 compared to Revolut?
You can check our comparison table on our guide: www.simplegermany.com/best-german-bank-english-speakers/
Basically very small differences, I like both, but the n26 has a German Iban, which I needed at the time. Otherwise spot on both.
N26 does not permit opening a bank account without a blue card for verification if your address is in Germany(or you are living in germany). I encountered this issue last week, but fortunately, Commerz Bank came to my rescue!
22:06 this is illegal in the EU, if you encounter this please report it to the Wettbewerbszentrale
In my experience, all the online banks fail. I arrived in Germany at the beginning of November and did the Anmeldung one week after. My working contract started middle November and I needed a German bank account (ASAP). All the online banks asked me for my residence permit (Aufenthaltstitel). This usually takes 1-3 months depending on how close you get to an appointment and the issuing itself. I tried to explain several times to several banks (8) that I only had the visa and that the residence permit appointment was in process, and I only got refusals. The second struggle was the TaxID because also the banks needed it. It usually takes 2-6 weeks to be generated after the Anmeldung. And also that was the reason I got many refusals. Finally, I was lucky and Deutsche Bank allowed me to open an account only with my passport and without TaxID. And as soon as I got them I gave them the missing document and information. So basically I was lucky that my banker had mercy and understood the bureaucracy loophole that is to arrive in Germany.
Yes, those struggles can be real and highly depend on your nationality and as it seems also on your location in Germany. Thanks for sharing!
How is your experience with Deutsche bank till now?
With N26, there was a time back in 2021 when they did offer both the EC carte and Mastercard debit card as a combo for free. I have both the cards from back then. Sad to see that they introduced a fee there. N26 standard isn't truly free anymore then.
True, however the EC card was never a true EC card - it didn't have the connection to the girocard system.
In my experience, I couldn't open an account with Commerzbank in Germany. When I entered the bank and asked to open an account, I informed them that I didn't yet have a residence permit (which was in progress), but they didn't check any of my documents and rejected my request instantly. This isn’t the same with friend, he can open it. My assumption is depending on branch and how you look to them.
Thanks for sharing your experience. Sorry it didn’t work out with them. We hope you found another solution 🙂
I had Deutsche bank for a long time during my studies as block account, I was not happy at all with them. So, I changed immediately to Santander.
good luck; I found Santander giro had cumbersome layers of security that made use impractical, N26 worked well for me
Excellent update, thank you. One other mention is that some of the banks does not offer or offer a limited credit products. N26 has a maximum of 25k euro credit product, not suitable if you want to start investing. And this is my highest drawback to N26, everything else is excellent for me.
Yeah, a good strategy is to have a combination of a mobile and a traditional bank. Each has their pros and cons.
@@simplegermany Correct, I have the exact same choice as you with the two banks and is working like charm ☺️
Did N26 standard account accepted by Agentur für Arbeit
I am moving in a a couple weeks and been investigating banks and temp banking options to setup some things before I can register in the city. Strongly considering Commerzbank as my future main banking and might use bunq or wise.
Fantastic! Have a smooth move 😊
i am in DKB, and it is not correct they are 100% in German, their mobile app is in English as well (for both Android and iOS). only their webpage is in German (google translate can do a good job there). but they have great conditions like free withdrawls worlwide, no currency exchange fee, free payments everywhere by card. I was accepted with no problems. ID check can be done in English too.
Thanks for sharing!
Indian in Bonn! Opened a commerzbank account with just city registration.
Revolut asked me to update my city registration within 3 months of opening my account
23:30 Yes, but that's not standard. Depends on where you're living. I have a Dutch IBAN at bunq for example, but I'm also not living in Germany. 😅 Useless information probably, but just wanted to mention that.
I am from Somaliland Africa and I opened my bank account in Düsseldorf without residency permit, however I know foreign students who were rejected by Commerzbank.
Commerzbank bank has a rule that people without residence permit of more than 6 months cannot apply for an account. This is the case with most of the people who come here with a temporary Visa and then apply for residence permit. Some branches overlook this but some others don't. Had bad experience referring my friend to this bank in Munich and none of them accepted him as a customer.
I didn’t have a problem, and I am in East Germany :/
C24 mobile bank issue Girocard for customers.
I have managed to successfully pay in the Düsseldorf Ausländerbehörde with an N26 debit card in January 2024, It seems they have updated their systems. When I originally went in 2022 I had to use a Gyrocard. It's still a great idea to have a Gyrocard, my Friseur still doesn't accept other methods!
Thanks for sharing! 😊
As an Indian in Reutlingen(near Stuttgart) a Steuer ID and a Stadtanmeldung was required to open a student account in Commerzbank. Although their phone chat said otherwise.
Also, their in-bank personnel were kind of rude in dismissing us(me and my friend, also a student) when we asked about the possibilities. Which is why I had to stick with Sparkasse.
Thanks for sharing. Each branch really is somewhat different. It is weird though, since Commerzbank specifically offers a student account. The Meldebescheinigung is normal that you need it and the tax ID you should be able to hand in later, once you have it - but again, different experiences everywhere.
@@simplegermany Yeah, seems to be the case :) However the experience with people generally has been nothing except spectacular. I guess that's what matters more ;)
Thank you guys, I liked very much the video.
I would like to share my experience as Brazilian who arrived in Portugal, before having my residency N26 was the only digital bank that have accepted me, Revolut only accepted me once I had my residency card in hand.
Cheers.
Thanks for sharing 😊
i had similar experience, although im EU citizen. needed a german bank account for my workplace but i had no luck with opening a bank account, tried Sparkasse, Deutsche Bank you name it but simply they didnt react or the process stopped for some reason, then saw n26 and saved the day.
Remain blessed ❤
You guys are the best 👌💯
I tried to apply N26 but they said must have a resident permit physical card in order to process. Which is kind of annoying. As the auslanderbehorde said it's too early for me to apply for the resident card and I need to cash urgently, especially when first time reach Germany there's no physical card. So I went to Sparkasse instead no requirements for the resident card.
Hi Jen & Yvonne,
Thanks again for the amazing content. One question, how about comdirect kostenlos Girokonto?
Also a great option. We talk about it here: www.simplegermany.com/best-bank-in-germany/ the only caveat is that it is purely in German.
I am ING customer and when I call customer service and ask for an english speaker they usually forward my call to one. Documentation is all in german though.
You forgot Santander Consumer bank
I have used all your videos for my transition to DE. I just presented my D-visa, Registration and my Commerzbank account was opened without any question. I did my registration and opened the account on the same day. I have not applied for my residence permit yet. I am from Jamaica.
I’m from Brazil and was able to open an account on Commerzbank here in Munich in the first week after moving in overall pretty good experience. How about Trade Republic? They have a card as well don’t they?
Glad to hear! In our opinion Trade Republic focuses on investing. Yes, they received their own banking license at the end of last year and do offer a banking card nowadays, but they don't provide much information at all regarding a checking account. It's too early for us to consider them as a true banking alternative to the more established options.
Hello, thank you for all your effort for making our settlement more smoothly! At the beginning of February 2024 , I opened my Commerzbank account thanks to you and your videos! I have my girocard and virtual card now. I added my virtual card to apple pay. However, since there is no CVC and last validity date of my virtual card, I cannot use it online. How do you solve it?
Good point! Sorry we did not mention it in our video. The virtual debit card is created for mobile payment and not for online payments. For mobile payment, you can connect your bank account to PayPal and use it when possible. If that’s not an option, then having a mobile bank to complement your traditional bank might be an option (that’s what we do). If you don’t mind paying a monthly fee, the physical debit Mastercard from Commerzbank costs 3,95€.
Thank you for your answer. Then, it is better to open N26 when I get my residence permit.@@simplegermany
I got Monese (Belgian) when I got here, bc some options didn't take my Honduran passport
Thanks
Thank you!!! Can we get a update on bike insurance, GetSafe doesn’t include service and repairs. 😊 please (looking for ensure for 2 bikes together)
True bike insurance is usually meant for theft. But a few providers also offer cover for wear and tear. Hepster is one of them, you can find more information in our guide: www.simplegermany.com/best-bicycle-insurance-germany/ 😊
Do strictly online banks like N26 satisfy this requirement or is a physical bank account required? My understanding is that a German bank account is required for certain activities like getting utilities. We are US citizens and will start out in temporary housing.
This video, like most of your others, took a lot of time to create. Thank you for all your valuable content!
N26 is a fully licensed German bank, it just doesn't have any branches. Whether that is important to you is personal preference. 😊 You can use our tool to find out which German bank is available to you during your settling depending on your nationality and residence status: www.simplegermany.com/banky/
Thank you so much for ur information, whats ur idea about C24 ?
It was rated among the best bank accounts in Germany. However, it is fully in German which is why it is not part of this video. We talk about it in this guide: www.simplegermany.com/best-bank-in-germany/
I would love if you could give updates about news for immigrants like the strikes of bus trains and also I feel more disconnected with German news that impacts life of all residents of Germany.
We are not a news channel 😉 The Local and Deutsche Welle are good resources for that.
but thats in German Up for a English news Channel. I wouild love to be your acnchor@@simplegermany
Hi Jen & Yvonne, thanks for all the information you share! I have a question regarding the blocked account money for the Opportunity Card visa. Let's say, I arrive in Germany and manage to get a part-time job there after a month that pays me sufficiently to run my daily expenses. In that case, do I still need to keep the deposit in the blocked account or is there a way to withdraw the money and maybe close the account?
As far as we know one can’t close a blocked account early, but just ask one of the service providers with your example. We release a video on the topic on Monday 😊
Mexican/Spanish I had been client from DKB since my Praktikum years a go. I applied and gotten without problems. My first a account was from sparkasesse tho. Not sure that helped
Very good explanation, but I want to add two important points. Firstly, you didn't talk about the TF-Golden card; I don't know why. Secondly, you didn't mention anything about the insurance systems of the banks, such as travel, accident, luggage, and health coverage, and the benefits they provide. I'm looking forward to your answer. Thanks.
This video is purely about checking accounts for day to day life. We have other videos on credit cards and insurances 😊
Sparkasse worst Bank, I used it for more than 6 years,monthly deduct 8,99€ for a normal account without credit/debit card.and I was not able to deposit from other towns! in middle east you can deposit from small villages but in Germany not ,with 9€ fees!
Have you considered the Klarna bank account in your research? I am curious if you have heard of it
Yes, we have. But it all in German and their banking license is Swedish and not German.
@@simplegermany it actually is a German banking license. The app can be set up in english, german or any european language.
Ah good to know about the languages in the app. But the banking license is definitely Swedish with the deposit insurance in SEK and not in euro. They have a subsidiary in Germany which is why they can offer a German IBAN. 😊
A German Girokarte is a "debit card", but it is not linked to Visa or MasterCard, which many English speakers might be familiar with. Therefore, one would never have the opportunity to select "cash or credit" as they may be accustomed to. Also, why isn't FATCA mentioned in this video?
I am a German citizen currently working in the USA. But, I am moving back to Germany at the end of this year. I want to start putting my disposable income into an account in Germany. Which bank can I use? All the banks I looked at say I have to reside in Germany. Thanks
Yeah you need to be a resident in Germany. You can try to go to a Deutsche Bank branch in the US and see if they can open one for you or open a wise account and use their Euro account to deposit money in it. You can find our partner link on the description 😊
For example, I am a Romanian citizen, I recently moved to Germany, I made my residence documents and tried to open an account at N26, but it does not accept the opening of the account at all, because Romania is not registered in that list of nationalities. The highlight is also the fact that Romania is in the EU and passports are not necessary in order to move freely on the territory of EU countries... but it doesn't matter, you still can't become a customer. 🧐
Yeah, that’s the current situation for Romanians. We created our tool Banky exactly for that purpose: www.simplegermany.com/banky/
can u plz do a video on fixed deposit options and also deposits where interest can be earned. thanks.
We have a detailed guide on that topic: www.simplegermany.com/savings-account-germany/
What about those banks that claim you can open a account before you even land in Germany, but I haven't found one of those claims to be true on other blogs I came across.
This seems to be outdated information. We don't know of any German bank a non-resident can open an account with.
Why C24 didn't make it into your list? Considering it is free and considered one of the most value for money current account in Germany!
One of our criteria is for the bank to have some sort of English support. As far as we know C24 is just in German. Are you using it? How have you liked it?
@@simplegermanysimply the best neo-bank at the moment despite the lack of English imo.
We will take a closer look then 😊
@@simplegermany Unfortunately they don't provide any English support. However, I think the other free bank like N26 doesn't offer Girokarte. On the other hand, getting MasterCard in Commerzbank requires extra fee. In that perspective C24 makes a lot of sense since they offer both the MasterCard and Girokarte for free on top of that there is also no account maintenance fee like, no minimum deposit requirements like N26.
This video is so useful. But I was searching for one of the topic in your videos which is hard to get in general for expats.. the sparbuch or Bankbürgershaft for rental deposit .. because no banks offer sparbuch anymore and not sure which bank offer Bankbürgershaft.. my landlord needs only these two for rental deposit so hardly stuck to get just information on this. If you know any info on this please do help 🙏
Yes, this is a very specific bank account also called Mietkautionskonto. We have ours with DKB. But another option would be to pay the deposit to your landlord and they place it in a specific bank account.
Hey
Thanks for a great video.
Can you recommend C24 Bank Account?
If you're ok with the bank being 100% in German, then it is seems to be a good choice :)
Hi both of you, thanks a lot for the amazing information but a Question.
How come DB is similar to CommerzeBank but with a fee?
How about the Das Junge Konto from DB with a Free cash withdrawals in over 60 countries and also without a fee?
I am a bit confused now and would appreciate an explanation
We are talking about the standard checking accounts with no age limit.
How about guaranteeing the deposits of account holders? Do all these banks mentioned in the video have that? As far as I know, there should be something like a guarantee for up to let say 100 000 EUR, but not every bank participates in such a scheme.
Yes, the 4 banks in the video have the European deposit insurance.
Thanks for the video. I have one question. Is N26 bank account eligible for receving salaries from the employer ?
Yes, it is :)
Sure, all your employer needs is an IBAN number to transfer the salary and N26 like any other bank will give you this
@@simplegermany Thanks a lot.
@@kedarnaths Thanks
Yes it is. I had bad experiences with Wise and Bunq. The company I work for did not accept their IBAN to deposit my salary.
Hie, if l am to choose between HypoVerrein and Sparkasse which one would be good ?
I have N26 account. Did agentit für Arbeit accept N26 or not
I have a very specific request 😅. Any ideas on how it affects or anything additional I gave to do for tax returns if I have been trading stocks in Germany as a foreign student? Thanks, you guys are the best!
Yes, capital gains get taxed. But everyone has a free allowance of 1000 euros per year. You can find more information in our guide: www.simplegermany.com/how-to-invest-money-in-germany/
@@simplegermany Danke vielmals!
I am a French student coming to study my master in Munich next year, I already have a French account, is there any benefit to change to a create a German account?
Yes, some service providers and employers only accept a German IBAN (although that should not be the case).
N26 can I use it to receive pay from work?
Or do I have to have a girokonto for receiving pay from work?
N26 is a girokonto. So you should not have any issues receiving your salary from a German employer.
You haven't covered the money confiscated issues in N26 without notifying and also it takes long to resolve it.
Also please talk about Revolut and c24 bank as well.
Could you please specify what you mean exactly? We talk about Revolut towards the end.
what of Revolut?
challenges to take note of?
Hello I am remotely worker. Can i open the bank account from outside Germany and out side EU? as Non resident account?
As far as we know, you cannot open a German bank account if you don’t live in Germany.
Thank you for the great video! I'm a German citizen that not living in Germany (I have a Personalausweis and German passport) and I have a few questions, please
1. If I opened an N26 account and went out of Germany, can I still log in to the application, etc? although I have a different SIM card?
2. Do I need an Anmeldung to open a bank account although I have a Personalausweis?
Thank you!!
As far as we know N26 is linked to your phone number. So you would need to keep the German SIM card active. As a German citizen, your Personalausweis should suffice ☺️
Thank you!@@simplegermany
I was rejected by Commerz Bank in 2022. I won't advise anybody to bank with them. The most painful part of the debacle is that they refuse to give me a reason for the rejection.
Yeah, no bank says the reason for rejecting a customer. It’s part of this “black box” we talk about in the video.
I already have a wise account. Can I use this wise account to keep the money? We can only send cash with wise account. Right??? Is there any option to do the savings with wise?
yes, you can keep money there..read the website!
N26 is making it over-complicated for non-EU citizens to open accounts regardless of your Passport type .. I'd recommend to just ignore it..
it was better than the alternatives for me, and it worked well
I had an N26 bank account as an American back in 2021. I missed their emails and it got closed because there wasn’t enough activity. Now the account is closed and I can’t make another one as a US citizen
Then you can find another bank via our tool that suits your nationality: www.simplegermany.com
Hi and thank you for your information and update.
I tried to open an account at Commerzbank, but because of my stay in Germany is limited; for example I have a permit up to 2026, they rejected my application. And said that for opening account in Commerzbank, I should have a permit with unlimited time/ without expiration date.
So which one is best for those with my situation?
Regards
We never heard about such a case. But of course there can always be other reasons for rejection, not based on nationality or residence status. You can try N26 or other banks that offer their services in German - you can find the links in the description.
@@simplegermany
Thanks for your quick reply. I filled out their online application to open a new account, and when I went to their local branch to activate my account, they told me that for opening an account in this bank, you must have unlimited residency in Germany.
Actually I came from Afghanistan. Is there such a restriction for Afghans?
Try with Nickel. A bank account for anyone.
Hello the video is very nice and it have very knowledge I have a one question I want to open bank account in Euro I want to know which bank account can open with only passport verification
All of the ones we mention. You can use our tool Banky to find out which account is accessible to you www.simplegermany.com/banky
Thank you
Could you please make the video of Deutsche Bank
Here is our take on Deutsche Bank: it is not a good bank for foreigners. Although it offers some of its services in English, it is not very consumer-friendly. Any bank account with Deutsche Bank comes with hefty fees. You can find the same banking portfolio at Commerzbank with better conditions.
I have been rejected without a reason by N26. I am a EU citizen livind, working and havind a residence (anmeldung) în Germany and still they refused opening a standard account. Maybe they just hate romanians, idk but i don’t like this bank anymore. Comertzbank seems more open and friendly 😊
N26 is incredible. Nothing to complain. Deutsche Bank was awful, only disadvantages.
Did N26 standard account accepted by Agentur für Arbeit
Really? If I may ask what were your problems with Deutsche Bank? Monthly fee aside.
@@MsMinoula first, when I opened the account and transfered money to it, it took 2 weeks to show in the balance because the account was new and the money „didn‘t find it’s way there“. So only after complaining, it showed up.
Then I could only withdraw from Deutsche Bank ATM or pay high fees at other machines.
It was a very old school (in a bad way) bank. Very conservative. Everything German oriented, non-inclusive.
N26 in the other hand, the complete opposite. I opened the account online and could use right away, everything intuitive and in English too, I can withdraw anywhere and internationally too. A Bank 2.0, from the digital era
Same here..Deutsche was really old fashioned, seemed to be looking for a deep, lifelong relationship..when I closed it, the agent was astonished and demanded a reason why..I thought that I no longer wanted it was reason enough..N26 was ideal for me, salaried worker, never a problem, instant notification of transactions
@@davidelpenho oh OK I see what you mean. Thank you for sharing. I opened an account online a few months ago, I guess I took old fashioned as a sign of well-established. With all the grandpas/grandma's and all. let's hope they fix their issues before I'm in the same position. Too lazy to go through closing the account at the moment 😅
Hi guys for opportunity card we need compulsory IELTS or English language skills B2 in
Cambridge English, because I have Cambridge English certificate B2 all other eligibility criteria having . For English skill Cambridge is enough 😑 r IELTS compulsory... Rlp guys
It needs to be an official English certificate. IELTS and Cambridge are both official test in our opinion.
Hey guys nice video, what about Traderepublic?
Also, can you make a video about ETF investments or Crypto! Would be very helpful for expats :)
We have two guides on that topic:
www.simplegermany.com/best-online-broker-germany/
www.simplegermany.com/how-to-invest-money-in-germany/