I visited Germany and spent most of my two months in Bergkamen and Düsseldorf. I LOVED IT and stumbled across your guy’s channel giving me hope that moving there is possible! Thank you guys and hopefully I’ll be in my new home in a year or two! You guys make it so much easier! ❤
Thanks for this video! All your content is being super helpful :) N26 didn't accept my passport without a residence permit but it worked on Tomorrow Bank. I'm just waiting for my first euro paycheck to buy you a coffee ☕️
Hi Jen & Yvonne, based on the recommendation by you guys (Thanks, keep up the good job) we applied for account with Commerz bank. End of the application we were told that application validation needs to be done at a branch. We went to the bank with all necessary documents but the person at bank and they told us that as a policy Commerz bank has stopped offering students, savings account as of now who have just arrived. Only students with at least 1 year of stay in Germany can open account with them
Thanks for letting us know! Is it just for the savings account or also for the checking account as well? In German the checking account is called 'Girokonto'. It would be interesting to know if the restriction applies also for that account. Thanks again :)
@@simplegermany We were told at the Paderborn branch, that Commerz Bank will only open accounts for students once they have completed 1 year in Germany and is applicable for all types of accounts. For N26 : we started the process for account opening, however midway during the video call validation. It was informed that it was not possible to proceed for an Indian passport holder. We were advised to contact N26 for alternative validation process through chat. N26 website guided us to visitor chat section, however they couldn’t provide us with a solution, but only told us that validation process is not possible with Indian passport holders … 😔 . I’m not sure what is the reason, if they want to provide service to specific nationalities then they should be clear on their website…
I live in the US, and I write no more than 10 checks in a year, maybe not even 5 some years. The places where people tend to write checks is to landlords for rent (although that is also changing), some services (building contractors, plumbers, painters, etc.) and inter personal payments between people (buying a used car, for example). Since checks are generally free to process, and credit cards cost merchants a fee, when you are paying for something expensive with a small company, they will appreciate getting a check vs. a credit card. (I use "credit card" here, but that includes debit cards; it can be nearly impossible for a clerk to know which is which when you buy, and the banks definitely prefer to process even debit card transactions as though they are credit cards because they get a bigger fee.)
Thank you so very much for all of your helpful videos--they are absolutely indispensable! Also, I love how your videos help simplify daily activities in Germany in a fun and approachable way.
I am german, living in the US since 2007. My experience as a free lance carpenter is: you get paid with check. At the end of the week you see the contractors pay their staff with check. you are in line at Trader Joe's (Aldi) and someone in front of you pays with check (even minute amounts). I don't see any change in sight. In most strip malls there are store-like offices, offering to cash your checks (for a fee). Even utility's like electricity, gas and water are still paid by check. Maybe a regional thing? at least here in LA its still going strong. On the other side, Americans are shocked when they learn, that in Germany cash is king.
I'm not sure about the specifics of your friend's banking and/or credit situation, or how tech savy she may be - but the US is not a check driven system - although there are some people that that still use checks, but it is not common. (I live in the US and haven't written any checks in almost 15 years.) I have also worked in finance for more than 20 years and am quite familar with payment clearing and settlement (PCS) systems - and their national utilization rates. Thanks for another well presented video Jen and Yvonne! 💰
Hey Suzanne, thanks so much for your insights! Don’t know exactly but our friend lived in NY/NJ and just mentioned how checks were still being used everywhere. Personally I have only used traveler checks about 18 years ago when I was an exchange student for a year 😅 - Y
Man, in America I worked at a Stop&Shop (a supermarket) as a cashier (Work&Travel), and I was shocked that they do pay for groceries with checks sometimes! I had only seen them in old movies, they were totally from another world to me, and there you are - checkbooks and all 😁 So see, Germany isn’t all that archaic 😁
23:17 - to take out money (Bargeldauszahlung) is not available at the shops of ALDI Nord; only ALDI Süd offers this service. The Albrecht brothers split the company in 1960 over a dispute about whether they should sell cigarettes.
Thanks for a fun video with a lot of great information in this video (like always) your channel really made my life easier. BTW I've got to say that I love your channel and both of you. you both are very funny and make it easier to digest the tons of information in your videos.
Do you have any comments on this new alternative you shared on the links, the Nuri bank? It seems to be similar to vivid in terms of investments... but would like to hear some input from your perception! Thanks and great videos!
Hey Raquel, Good question! In terms of investment Nuri only focuses on Crypto. But what stands out for us is that their bank account is free without ifs and buts. Best observed with free unlimited cash withdrawals worldwide. All the other banks listed limit those. We have reviewed Nuri in more detail on our website: www.simplegermany.com/best-german-bank-english-speakers/
This doesn't have anything to do with bank accounts, but can you do a detailed video about German healthcare and how to use it. Also about dental care?
We have written guides on the topics so far: www.simplegermany.com/private-vs-public-health-insurance-germany/ and www.simplegermany.com/best-dental-insurance-germany/
Love the video! Just a question: Do people in Germany usually have more than one bank account? If so, maybe an online bank account plus a “traditional” bank account? I just wonder if an online account counts in order to receive ( and pay) services such as internet or rent
Hey Paola, yes a bank account from a mobile bank counts as a real and true bank account to do any transaction with in Germany (internet, rent, etc.). And yes, we would say that most people have more than one account. Usually, one for daily expenses and purchases and one to keep a bit more money or a securities account (for investments) etc. It's also common for couples to each have their individual account and then one shared account together. Just don't have too many accounts, as that may affect your credit score.
Thanks for providing these valuable information. With more and more German Banks applying 0.5% negative interest it would be good if you could make a video to single out those banks that still don't charge this custody fee. Thanks
Lovely and very helpful videos. I have some questions, 1) can we have bank account with multiple banks in Germany? 2) whether N26 bank bank is approved by German banking commitee? 3) What is the maximum cash withdrawal limit with n26 in a month? 4) in which bank ATMs i can withdraw cash from n26 bank card?
Thanks a lot for comment. We answer all your questions in the video and in our guide: www.simplegermany.com/best-german-bank-english-speakers/ 😉 Here are the quick answers: 1) Absolutely - almost everyone does - we do! 2) Yes, they have their own banking license. 3) Depends on which account you choose. The free account has up to 3 free cash withdrawals in Germany per month. 4) Any Hope this helps!
Thanks so much for your great feedback! You can take a look at our day-to-day life guides on our website: www.simplegermany.com/living-in-germany/ Hope they help you too. 😊
Yes, For some banks, especially the branch banks, you need an Anmeldung to open an account. For some mobile banks like Nuri, Vivid or N26 you might be able to open an account without proof of address but you still need a mailing address to receive your bank card.
No, it is not different at all. Some accounts however are just free, if you have a minimum of 700 euros transferred in every month, which is why many use such accounts as salary accounts.
hey, i know your vids are a bit old but i just fond them and I like them. look i have been living for a while here and I tried a couple of times to open an account in DKB, but despite of having a permanent residency, own my own flat, being here for a long time and even married to an european and having a full time permanent well paid job , I still get rejected. the only reason i can see is that my passport is still from Latin america, any tips to crack the system?
DKB is notoriously known for not accepting foreigners. You can find tons of threads about it. It's a shame. But that is the main the reasons we don't list DKB in this video, even though we like them very much.
We do have a video on that topic already :) ruclips.net/video/iHnW3lje8Nw/видео.html as well as a guide: www.simplegermany.com/best-online-broker-germany/ Please be aware that US citizens can't use Scalable Capital or Trade Republic.
Yes, the girocard is also a debit card and it is the most accepted card throughout Germany. In some gastronomic venues it is the only type of card accepted (visa and Mastercard debits are not accepted). In shops any card is accepted.
Thank you so much guys, i wish you could explained a little bit about the documents that are needed to open a bank account, for i am still outside of Germany and i heard that i need a house contract to be able to open one i heard a word "mendel" I'm not sure about it at all sorry...but it was very confusing that why i need a house contract to open a bank account...i would really appreciate if you can guid me with this. Thank you so so much I'm moving to Germany and your contents are very helpful. Thank you so much again:))
You have probably heard that you need an Anmeldung. Which means you need to register your address in Germany. That is true for most banks. It depends a bit on your nationality. N26 allows some nationalities without an Anmeldung. We talk about it in this video: ruclips.net/video/ysXo7MV2zko/видео.html
Wow! That was an amazing tip to withdraw some money at supermarkets, I was not aware there was such a thing! Is it a general service they provide? As in.. Can I walk into a supermarket to withdraw some money if its urgent or is it proper to only do it when I am grocery shopping or buying something? The nearby ATM for my bank just moved further off and I need to find an alternative for emergencies.
You have to make a purchase and pay with card. The minimum amount you need to buy ranges between 5-10 euros. Most supermarkets offer the service only for girocards (Aldi Süd also for Mastercard) and usually up to 200 euros. Hope this helps 😉
Great information. Question, my niece live in Frankfurt. I visit her once a year, I live in the US. So, if we go to a grocery store, and pay her groceries with my ViSA, so I can ask to take out euros? If I go to a grocery store as a tourist, can I also ask to take out euros to save on atm fees? Thanks for your answer. Merlina
Hey Merlina, unfortunately not. The cash payout at supermarkets only works with the German girocard. Aldi Süd is the only one also offering the service for Mastercard.
I’m looking to buy a small apartment near my family in “die Ost.”im Chemnitz, Plauen or Gorlitz. Ein frage bitte,, my cousine hat gesagt “Im kopf, es ist immer Grenz…is das richtig heute? Please know your wonderful videos makes Düsseldorf look like a great place, just not in my budget. My cousin teaches at LMU Muenchen but also not in the budget! Sachsen is also beautiful and affordable, but do wonder if there is still a border of sorts, so to speak? Vielen Danke!
That is difficult to answer as we don't live in Sachsen. And the answer to your question highly depends on the age of the person you are asking. In our minds there is no border, but we could imagine that you could also receive a different answer to your question.
@@simplegermany Thank you for your kind reply! A lot of younger Germans moved west with reunification. Many of the towns, especially the smaller ones like Frankfurt an der Oder, Gorlitz, even the cities like Chemnitz have a good supply of housing so the prices to buy are lower than the west where demand is higher. My cousins in the east seem just as happy as my cousins in the west and the towns are all beautiful. I find the people friendly, too. Speaking German does help! I will keep you posted on my search! Vielen Danke fur Alles! Christian Anton Lehrer
Hi both of you, you are great and thanks for the videos really you make to be moving smoothly 😊 I have a question, I'm planning to move in Germany near Duesseldorf 😊 can I open bank account before I came to Germany, before I make anemeldung in auslanderbehorde? Thanks and be like you are in the future 👍💪
That depends a bit on the country you’re from. You can try any of the options we detail on our article about bank accounts for English speakers here: www.simplegermany.com/best-german-bank-english-speakers/
Hello, Very nice video. Thanks for the useful information :) I do have one question, though, that I think could be useful for your other viewers as well :) Is there a way a German bank that would give a loan (mortgage) for property in the country of origin of the expat? An EU country. Let's say I do have a mortgage in my country and I would like to move to Germany and to pay my mortgage interest to a German bank, not banks in my country. Would it be possible to refinance my current mortgage with a loan from a German bank :) I hope I was helpful and please go on with your amazing endevor :) Best regards, Momchil
So, I open a Vivid money account and I'm not sure that if they send data to Schufa or not? I mean is it good if I use it as my main bank account to receive my salary and other things?
There is no good or bad :). You don't need to build a good credit score in Germany, you only need to keep it. You can read more about it in our guide: www.simplegermany.com/how-to-get-schufa/
i was wondering, what is the minimum balance to keep away from interest incurred in these bank, and you guys didn't mention how much money is required to open the account
Opening a bank account is generally free with the banks we mention. Not sure what you mean with minimum balance with regards to interest. These are checking accounts we are referring to, which are great for your day to day life. They do not offer interest payments. For that you would need to look into savings accounts or a securities account.
I have a question, could you please tell me about Buchungsposten und Arbeitsposten for each bank. Currently I am using Volksbank and they are charging for these !. Does every bank has Buchungsposten und Arbeitsposten?
@@simplegermany Doing my fair bit of research, I find that Sparkasse and Commerzbank are just as big, but I am now starting to side with Commerzbank after you make the point with a free account after 700 Euros monthly deposit! Thanks for the information, watching your other videos, and subscribed! :D
You can read comments as such for any bank online. However, usually some 'rule' of the terms and conditions did get broken. e.g. what you often read is that someone sold certain amounts of goods via ebay and after several transactions the bank account got dismissed. Most banks state that the bank account use is for private use only and the behavior on ebay suggested otherwise to them. So it really depends on the case and your bank account use.
Any chance you can accomplish a detailed comparison of all the hidden fees for bank transfers, negative interest, cash deposits/withdrawals at the counter/atm/stores etc... It seems that although the VR bank has a monthly fee of €8.90 it has no transaction fees or limits on the number of transactions. Seems that DKB has no ATM fees but charges you at the stores to take cash. the fine print is quite overwhelming .
We point out all the 'hidden fees' and things to look out for when choosing a bank account in this video. If you are interested in other banks just check their conditions for the same things 😉 Some banks started charging negative interest starting from 50.000 euros others from 100.000 euros. Don't use a regular bank to transfer money, but rather a service like Wise (www.simplegermany.com/wise/). Hope this helps!
@@simplegermany Thanks for the quick reply! I'm new to Germany and far from understanding the investment options. To get a low-cost English Bank account at the earliest I'll go for N26. I might look at other options later if I am keen on investing here. (Easiest option so far is to keep investing in my home country)
Savings account are no longer as attractive as back in the day, since the interest rates are just so low. So it is not wise to have huge amounts of money in saving accounts, but rather find other investment forms that you feel comfortable with.
Hi there, your videos are very useful. I just moved to Koln and I have opened an Sparkasse account and I usually transfer money to euro account on Revolut (but the sccount was opened in the UK) but the fee for that is high every time. How could I get rid of these fees? Is it bc I originally have the account from the UK? I do these transfers to be able afterwards to send money between countries. Thank you
@@simplegermany the fees are at the Sparkasse end. I do have an Wise account as well but again opened in the UK. Are the fees caused because it's an UK account even if I transfer in my euros pot? Thank you very much for your help
Sparkasse is a very traditional banks with generally high fees for everything. If you want to avoid fees, try one of the mobile banks we talk about in our video. Most likely the fees are caused because of the UK account.
You can simply open the account online. Here is our review on how to do it: www.simplegermany.com/n26-review-germany/#How_To_Open_A_Bank_Account_With_N26
Sign up are not in english - Reason could be because we need to enter the user name and password and having multiple language keyboard type for password create not of problem to validate the password and most of the time account locked in problem are too frequent in that case.
That is up to you to decide if having a bank account in Germany might be beneficial for you. Just be aware that some bank accounts require your Anmeldung paperwork to open an account with them. This means that you must be registered in the city with a German address.
Hello there, I wanted to open an account with DKB and they rejected me. Friends mentioned that it's because I don't have a German passport holder. Sad! Do you think it's true? Also I have an sparkasse account but I would like to have a second bank account with another bank, is that allowed in Germany? Thank so much for the video.
I'm moving to Berlin at the end of June/beginning of July from Korea (where I've been living for 7 years). I'm planning to move with around 20,000€ and definitely don't want to carry it all in cash. Since many of these banks are online banks, would it be possible to make a bank account without being in Germany? Can I make one from here so I can transfer this amount of money?
You can consider opening a multi currency bank account with Wise (simplegermany.com/wise). They have good fees for international bank transfers. You can check them out here:
We talk about DKB in this video: ruclips.net/video/pTQjNjUPj1U/видео.html However, DKB recently changed their T&Cs and no longer offer a free credit card. They only offer German as a language and tend to be hard to get accepted by as a foreigner. So the options we mention for a bank account should be a better choice.
October 2021 Update: *Tomorrow bank now DONT have any free accounts, the minimum fee is 3/- euro for a "Tomorrow NOW" account (SAD & DISAPPOINTING).* Please make an updated video on the free bank accounts in Germany (without any hidden conditions etc). Thank you.
That is correct, and you can also see the update reflected in our written guide: www.simplegermany.com/best-german-bank-english-speakers/. Our video was never about FREE bank accounts, but about bank accounts for English-Speakers - that still applies to Tomorrow Bank. If you would like a free bank account, you can choose one of the other banks we refer to. 😉
Hey Robert, the best way to buy a phone with payments in Germany is to get a mobile phone contract from one of the multiple providers. You may find more information on the subject in our detailed guide: www.simplegermany.com/best-mobile-network-germany/
You said that Commerzbank doesn't charge a monthly fee if you deposit a minimum of 700 but what happens if you miss a month for some reason? Do they charge you for every month you don't deposit and how much do they take? Also if I deposit monthly and I miss 3 months but on the 4th I deposit do they still charge me on the 4th 5th etc month or do they stop?
@@simplegermany Thank you for your response! BTW I had been checking other multiple banks and I'm pretty sure that you hear about Revolut. It looks as a great option and recently this year they have now a Banking License applying to Germany, so now they are able to insure your savings for 100.000! Maybe you should add it to your options in the website.
Could anyone confirm this, please? Say if I withdraw/transfer to another account €700 per month, then deposit/transfer back the same amount, do I still have to pay the monthly fee at Commerzbank??? Thanks in advance ^^
@@simplegermany Thanks for your super quick reply ^^ Of course, there are other transactions (only out of the account) in the mix. I am just wondering can I mimic an incoming deposit as such?
Also ich will ja so viel wie möglich vor meinem Umzug erledigt haben. Und auch schon nach nem job suchen.... aber all das kann ich nur mir ner Telefonnummer machen. Und eine sim kriege ich nur wenn ich schon in DE bin und eine Adresse angeben kann. Das nervt. :( Ich wohne schon 24 Jahre in USA und werde so in nem Jahr wieder nachhause gehen.
I’m from Ukraine and created Vivid money account fully online and quickly. Got a salary to it. But after two weeks they blocked me “for security reasons”. Now I have no access to money and need to wait (
Yes, unfortunately not all banks accept all nationalities, which is why in our guide we have linked to the accepted nationalities for each bank: www.simplegermany.com/best-german-bank-english-speakers/ 😊
PSA: DO NOT USE TOMORROW BANK I signed up for their service and they are terminating my account for no reason whatsoever within 2 months! Super annoying
![Top 4 Bank Accounts for Foreigners in Germany [2024 Update]](/img/1.gif)
🔥 UPDATED FOR 2022: ruclips.net/video/B0jxzA_JYhc/видео.html
Your video's have been very useful. Thank you so much 😊🙏
Waiting for the video about investment in Germany. Looking forward to learn more about it.
Hey Ciara, we talk about the best online brokers in Germany in this video: ruclips.net/video/iHnW3lje8Nw/видео.html
@@simplegermany Gracias!!
I visited Germany and spent most of my two months in Bergkamen and Düsseldorf. I LOVED IT and stumbled across your guy’s channel giving me hope that moving there is possible! Thank you guys and hopefully I’ll be in my new home in a year or two! You guys make it so much easier! ❤
Thanks for this video! All your content is being super helpful :)
N26 didn't accept my passport without a residence permit but it worked on Tomorrow Bank.
I'm just waiting for my first euro paycheck to buy you a coffee ☕️
Woop woop! That is super amazing! Welcome to Germany! And thank you for your support 🤗
As I know, n26 doesn't offer a monthly payment-free account right now. Even lowest version requiered 5 euro/month payment, is that true?
They still offer a completely free account, the N26 Standard: www.simplegermany.com/n26-accounts 😊
Thank you so much! Your videos have been really useful for me!
After watching the finding a flat in germany video I subbed and binge-watching! Love the content ladies!!!
Very useful information great🤟🤟🤟
*Please keep making videos on new German banks which offers free account/ debit cards etc. Never stop comparing new banks. Thank you from Germany.*
No free any more
I suggest N26 and Revoult Banks are free of cost and have Debit card exclusive offers
@@nothingelsematters8217 there are free banks
That was such a great and helpful video, thank you guys!
Hi Jen & Yvonne, based on the recommendation by you guys (Thanks, keep up the good job) we applied for account with Commerz bank. End of the application we were told that application validation needs to be done at a branch. We went to the bank with all necessary documents but the person at bank and they told us that as a policy Commerz bank has stopped offering students, savings account as of now who have just arrived. Only students with at least 1 year of stay in Germany can open account with them
Thanks for letting us know! Is it just for the savings account or also for the checking account as well? In German the checking account is called 'Girokonto'. It would be interesting to know if the restriction applies also for that account. Thanks again :)
@@simplegermany
We were told at the Paderborn branch, that Commerz Bank will only open accounts for students once they have completed 1 year in Germany and is applicable for all types of accounts.
For N26 : we started the process for account opening, however midway during the video call validation. It was informed that it was not possible to proceed for an Indian passport holder. We were advised to contact N26 for alternative validation process through chat. N26 website guided us to visitor chat section, however they couldn’t provide us with a solution, but only told us that validation process is not possible with Indian passport holders … 😔 . I’m not sure what is the reason, if they want to provide service to specific nationalities then they should be clear on their website…
Hahah. The same happened with me today. They should state this clearly.
💡UPDATE: We have recorded a step-by-step guide on how to open a Commerzbank account successfully: ruclips.net/video/he5UcFcUcMs/видео.html
I love you both❤
Always helping in the best possible way 🤗
God bless you friends👭👬
I live in the US, and I write no more than 10 checks in a year, maybe not even 5 some years. The places where people tend to write checks is to landlords for rent (although that is also changing), some services (building contractors, plumbers, painters, etc.) and inter personal payments between people (buying a used car, for example). Since checks are generally free to process, and credit cards cost merchants a fee, when you are paying for something expensive with a small company, they will appreciate getting a check vs. a credit card. (I use "credit card" here, but that includes debit cards; it can be nearly impossible for a clerk to know which is which when you buy, and the banks definitely prefer to process even debit card transactions as though they are credit cards because they get a bigger fee.)
This channel is bank of information if you're planning to live in Germany very very important thank you guys by the way you are beautiful couple.❤️❤️
Thank you so very much for all of your helpful videos--they are absolutely indispensable! Also, I love how your videos help simplify daily activities in Germany in a fun and approachable way.
THANK YOU for these videos and i love your blog too!
I am german, living in the US since 2007. My experience as a free lance carpenter is: you get paid with check. At the end of the week you see the contractors pay their staff with check.
you are in line at Trader Joe's (Aldi) and someone in front of you pays with check (even minute amounts). I don't see any change in sight. In most strip malls there are store-like offices, offering to cash your checks (for a fee). Even utility's like electricity, gas and water are still paid by check. Maybe a regional thing? at least here in LA its still going strong.
On the other side, Americans are shocked when they learn, that in Germany cash is king.
Thanks a lot for your insights! Super interesting 😊
You two are very beautiful. Lovely couple. Great informative videos. I subscribed.
Your videos are amazing 😆... if I end up moving to Germany I will go to Duesseldorf just for kicks 🙃
I'm not sure about the specifics of your friend's banking and/or credit situation, or how tech savy she may be - but the US is not a check driven system - although there are some people that that still use checks, but it is not common. (I live in the US and haven't written any checks in almost 15 years.) I have also worked in finance for more than 20 years and am quite familar with payment clearing and settlement (PCS) systems - and their national utilization rates.
Thanks for another well presented video Jen and Yvonne! 💰
Hey Suzanne, thanks so much for your insights! Don’t know exactly but our friend lived in NY/NJ and just mentioned how checks were still being used everywhere. Personally I have only used traveler checks about 18 years ago when I was an exchange student for a year 😅 - Y
@@simplegermany Also just to add... Nobody really cares
Thank you so so much for this video!
thanks very informative! :)
I love your videos! Thank you very much for all the tips.
Thank you I love Germany was there 1979 to 1981 in Bamberg. I all ways what to go back
Man, in America I worked at a Stop&Shop (a supermarket) as a cashier (Work&Travel), and I was shocked that they do pay for groceries with checks sometimes! I had only seen them in old movies, they were totally from another world to me, and there you are - checkbooks and all 😁
So see, Germany isn’t all that archaic 😁
Thanks for sharing Anna!
23:17 - to take out money (Bargeldauszahlung) is not available at the shops of ALDI Nord; only ALDI Süd offers this service. The Albrecht brothers split the company in 1960 over a dispute about whether they should sell cigarettes.
Oh wow really?? We were not aware of that, thanks for your insights! -Y
I am still with Sparkasse and Sparda!
Thanks for a fun video with a lot of great information in this video (like always) your channel really made my life easier.
BTW I've got to say that I love your channel and both of you.
you both are very funny and make it easier to digest the tons of information in your videos.
Thanks for your kind comment 😊
Helpful! 👍👍👍
Do you have any comments on this new alternative you shared on the links, the Nuri bank? It seems to be similar to vivid in terms of investments... but would like to hear some input from your perception! Thanks and great videos!
Hey Raquel, Good question! In terms of investment Nuri only focuses on Crypto. But what stands out for us is that their bank account is free without ifs and buts. Best observed with free unlimited cash withdrawals worldwide. All the other banks listed limit those. We have reviewed Nuri in more detail on our website: www.simplegermany.com/best-german-bank-english-speakers/
This doesn't have anything to do with bank accounts, but can you do a detailed video about German healthcare and how to use it. Also about dental care?
We have written guides on the topics so far: www.simplegermany.com/private-vs-public-health-insurance-germany/ and www.simplegermany.com/best-dental-insurance-germany/
Love the video! Just a question: Do people in Germany usually have more than one bank account? If so, maybe an online bank account plus a “traditional” bank account? I just wonder if an online account counts in order to receive ( and pay) services such as internet or rent
Hey Paola, yes a bank account from a mobile bank counts as a real and true bank account to do any transaction with in Germany (internet, rent, etc.). And yes, we would say that most people have more than one account. Usually, one for daily expenses and purchases and one to keep a bit more money or a securities account (for investments) etc. It's also common for couples to each have their individual account and then one shared account together. Just don't have too many accounts, as that may affect your credit score.
Thanks for providing these valuable information. With more and more German Banks applying 0.5% negative interest it would be good if you could make a video to single out those banks that still don't charge this custody fee. Thanks
Such a fee usually only happens if you have more than 50k in your bank account. For everyday use there is no negative interest.
Lovely and very helpful videos. I have some questions,
1) can we have bank account with multiple banks in Germany?
2) whether N26 bank bank is approved by German banking commitee?
3) What is the maximum cash withdrawal limit with n26 in a month?
4) in which bank ATMs i can withdraw cash from n26 bank card?
Thanks a lot for comment. We answer all your questions in the video and in our guide: www.simplegermany.com/best-german-bank-english-speakers/ 😉
Here are the quick answers:
1) Absolutely - almost everyone does - we do!
2) Yes, they have their own banking license.
3) Depends on which account you choose. The free account has up to 3 free cash withdrawals in Germany per month.
4) Any
Hope this helps!
@@simplegermany
related to the 4th question, are there any fees on the withdrawals when you use any ATMs for N26?
superb information which I was looking for...may be You can help me more in settling down the daily life in Germany.
Regards
Thanks so much for your great feedback! You can take a look at our day-to-day life guides on our website: www.simplegermany.com/living-in-germany/ Hope they help you too. 😊
ich nehme noch 100 Euro
That is a useful tip.
Hi guys, nice video. Do you know anything about NURI bank? Thanks
Yes, we talk about it in our written guide: www.simplegermany.com/best-german-bank-english-speakers/
You women are great! That was very thorough. Do you need a permanent German address to open an account?
Yes, For some banks, especially the branch banks, you need an Anmeldung to open an account. For some mobile banks like Nuri, Vivid or N26 you might be able to open an account without proof of address but you still need a mailing address to receive your bank card.
Nice details! I wonder does the salary account type is different from normal account or any account type is ok to be given to Employer ?
No, it is not different at all. Some accounts however are just free, if you have a minimum of 700 euros transferred in every month, which is why many use such accounts as salary accounts.
Thanks
Thanks for the amazing videos. It was very helpful. Do you know a bank which allows to open a bank account without doing anmuldung?
That depends a bit on your nationality. But Nuri and N26 are known for also accepting customers without an Anmeldung.
hey, i know your vids are a bit old but i just fond them and I like them. look i have been living for a while here and I tried a couple of times to open an account in DKB, but despite of having a permanent residency, own my own flat, being here for a long time and even married to an european and having a full time permanent well paid job , I still get rejected. the only reason i can see is that my passport is still from Latin america, any tips to crack the system?
DKB is notoriously known for not accepting foreigners. You can find tons of threads about it. It's a shame. But that is the main the reasons we don't list DKB in this video, even though we like them very much.
Could you make a video on brokerage firm. How to open an account and the fees?
We do have a video on that topic already :) ruclips.net/video/iHnW3lje8Nw/видео.html as well as a guide: www.simplegermany.com/best-online-broker-germany/ Please be aware that US citizens can't use Scalable Capital or Trade Republic.
Hey, thank you very much for the content. Are there fees on money transfer from an account in a bank to another one in another bank ? Thanks
As long as the transfer is within the SEPA Eurozone zone, it is free, yes 😊
Great video! Question, debit cards are also girocards? Could I pay in supermarket or any kind of venue with debit cards? Thanks
Yes, the girocard is also a debit card and it is the most accepted card throughout Germany. In some gastronomic venues it is the only type of card accepted (visa and Mastercard debits are not accepted). In shops any card is accepted.
@@simplegermany perfect! So with a debit card I could do the most important and with a girocard i'll cover all. Thanks again!
Thanks alot
Thank you so much guys, i wish you could explained a little bit about the documents that are needed to open a bank account, for i am still outside of Germany and i heard that i need a house contract to be able to open one i heard a word "mendel" I'm not sure about it at all sorry...but it was very confusing that why i need a house contract to open a bank account...i would really appreciate if you can guid me with this. Thank you so so much I'm moving to Germany and your contents are very helpful. Thank you so much again:))
You have probably heard that you need an Anmeldung. Which means you need to register your address in Germany. That is true for most banks. It depends a bit on your nationality. N26 allows some nationalities without an Anmeldung. We talk about it in this video: ruclips.net/video/ysXo7MV2zko/видео.html
@@simplegermany thank you so much that was very very helpful:))
You dont need house documents in certain banks
Wow! That was an amazing tip to withdraw some money at supermarkets, I was not aware there was such a thing! Is it a general service they provide? As in.. Can I walk into a supermarket to withdraw some money if its urgent or is it proper to only do it when I am grocery shopping or buying something?
The nearby ATM for my bank just moved further off and I need to find an alternative for emergencies.
You have to make a purchase and pay with card. The minimum amount you need to buy ranges between 5-10 euros. Most supermarkets offer the service only for girocards (Aldi Süd also for Mastercard) and usually up to 200 euros. Hope this helps 😉
Great information. Question, my niece live in Frankfurt. I visit her once a year, I live in the US. So, if we go to a grocery store, and pay her groceries with my ViSA, so I can ask to take out euros? If I go to a grocery store as a tourist, can I also ask to take out euros to save on atm fees? Thanks for your answer. Merlina
Hey Merlina, unfortunately not. The cash payout at supermarkets only works with the German girocard. Aldi Süd is the only one also offering the service for Mastercard.
I’m looking to buy a small apartment near my family in “die Ost.”im Chemnitz, Plauen or Gorlitz. Ein frage bitte,, my cousine hat gesagt “Im kopf, es ist immer Grenz…is das richtig heute? Please know your wonderful videos makes Düsseldorf look like a great place, just not in my budget. My cousin teaches at LMU Muenchen but also not in the budget! Sachsen is also beautiful and affordable, but do wonder if there is still a border of sorts, so to speak? Vielen Danke!
That is difficult to answer as we don't live in Sachsen. And the answer to your question highly depends on the age of the person you are asking. In our minds there is no border, but we could imagine that you could also receive a different answer to your question.
@@simplegermany Thank you for your kind reply! A lot of younger Germans moved west with reunification. Many of the towns, especially the smaller ones like Frankfurt an der Oder, Gorlitz, even the cities like Chemnitz have a good supply of housing so the prices to buy are lower than the west where demand is higher. My cousins in the east seem just as happy as my cousins in the west and the towns are all beautiful. I find the people friendly, too. Speaking German does help! I will keep you posted on my search! Vielen Danke fur Alles! Christian Anton Lehrer
❤️ Simple Germany ❤️
Hi both of you, you are great and thanks for the videos really you make to be moving smoothly 😊 I have a question, I'm planning to move in Germany near Duesseldorf 😊 can I open bank account before I came to Germany, before I make anemeldung in auslanderbehorde? Thanks and be like you are in the future 👍💪
That depends a bit on the country you’re from. You can try any of the options we detail on our article about bank accounts for English speakers here: www.simplegermany.com/best-german-bank-english-speakers/
@@simplegermany I'm from EU country, I will watch the video, thank you a lot 👍
Hello,
Very nice video. Thanks for the useful information :)
I do have one question, though, that I think could be useful for your other viewers as well :) Is there a way a German bank that would give a loan (mortgage) for property in the country of origin of the expat? An EU country. Let's say I do have a mortgage in my country and I would like to move to Germany and to pay my mortgage interest to a German bank, not banks in my country. Would it be possible to refinance my current mortgage with a loan from a German bank :)
I hope I was helpful and please go on with your amazing endevor :)
Best regards,
Momchil
It would be helpful to say which banks will let us citizens be customers
For US citizens usually all banks are possible in our experience.
@@simplegermany no, Vivid and Tomorrow Bank don’t let me open a bank account because I am liable for tax in the US, even if I am not a US citizen
So, I open a Vivid money account and I'm not sure that if they send data to Schufa or not? I mean is it good if I use it as my main bank account to receive my salary and other things?
There is no good or bad :). You don't need to build a good credit score in Germany, you only need to keep it. You can read more about it in our guide: www.simplegermany.com/how-to-get-schufa/
Consider that Vivid Money is not available to you as a citizen of certain countries, including the US.
seems the same is true with Nuri... :(
i was wondering, what is the minimum balance to keep away from interest incurred in these bank, and you guys didn't mention how much money is required to open the account
Opening a bank account is generally free with the banks we mention. Not sure what you mean with minimum balance with regards to interest. These are checking accounts we are referring to, which are great for your day to day life. They do not offer interest payments. For that you would need to look into savings accounts or a securities account.
I have a question, could you please tell me about Buchungsposten und Arbeitsposten for each bank. Currently I am using Volksbank and they are charging for these !. Does every bank has Buchungsposten und Arbeitsposten?
The old school ones yes! They pretty much charge every transaction! None of the banks we talk about do that. 😊
Please, does the Tomorrow bank require an Anmeldung?
Between Sparkaase and Commerzbank, what would you recommend?
We are with Commerzbank 😉
@@simplegermany Doing my fair bit of research, I find that Sparkasse and Commerzbank are just as big, but I am now starting to side with Commerzbank after you make the point with a free account after 700 Euros monthly deposit!
Thanks for the information, watching your other videos, and subscribed! :D
I am also having same doubt. Which of those will be the best as phd student.
I have heard that sometimes a bank can just close your account without offering any reason? How frequently does that happen in Germany?
You can read comments as such for any bank online. However, usually some 'rule' of the terms and conditions did get broken. e.g. what you often read is that someone sold certain amounts of goods via ebay and after several transactions the bank account got dismissed. Most banks state that the bank account use is for private use only and the behavior on ebay suggested otherwise to them. So it really depends on the case and your bank account use.
Any chance you can accomplish a detailed comparison of all the hidden fees for bank transfers, negative interest, cash deposits/withdrawals at the counter/atm/stores etc... It seems that although the VR bank has a monthly fee of €8.90 it has no transaction fees or limits on the number of transactions. Seems that DKB has no ATM fees but charges you at the stores to take cash. the fine print is quite overwhelming .
We point out all the 'hidden fees' and things to look out for when choosing a bank account in this video. If you are interested in other banks just check their conditions for the same things 😉 Some banks started charging negative interest starting from 50.000 euros others from 100.000 euros. Don't use a regular bank to transfer money, but rather a service like Wise (www.simplegermany.com/wise/). Hope this helps!
Which of these are SEPA bank accounts? Asking for opening a salaried account :) Thanks
All of them 😉
@@simplegermany Thanks for the quick reply! I'm new to Germany and far from understanding the investment options. To get a low-cost English Bank account at the earliest I'll go for N26. I might look at other options later if I am keen on investing here. (Easiest option so far is to keep investing in my home country)
What about a savings account? Can you guys make a video about that?
Savings account are no longer as attractive as back in the day, since the interest rates are just so low. So it is not wise to have huge amounts of money in saving accounts, but rather find other investment forms that you feel comfortable with.
Hi there, your videos are very useful. I just moved to Koln and I have opened an Sparkasse account and I usually transfer money to euro account on Revolut (but the sccount was opened in the UK) but the fee for that is high every time. How could I get rid of these fees? Is it bc I originally have the account from the UK? I do these transfers to be able afterwards to send money between countries. Thank you
We have had bad experiences with Revolut. We use Wise for any intercurrency transfers.
@@simplegermany the fees are at the Sparkasse end. I do have an Wise account as well but again opened in the UK. Are the fees caused because it's an UK account even if I transfer in my euros pot? Thank you very much for your help
Sparkasse is a very traditional banks with generally high fees for everything. If you want to avoid fees, try one of the mobile banks we talk about in our video. Most likely the fees are caused because of the UK account.
@@simplegermany ok, thank you for the help, very much, I will try one bank suggested by you 😀
How is it to open a N26, when new to Germany (as a dual citizen with US), new to SHUFA. This is, of course, after getting registered.
You can simply open the account online. Here is our review on how to do it: www.simplegermany.com/n26-review-germany/#How_To_Open_A_Bank_Account_With_N26
Sign up are not in english - Reason could be because we need to enter the user name and password and having multiple language keyboard type for password create not of problem to validate the password and most of the time account locked in problem are too frequent in that case.
Do you need a bank account if your are taking a vacation to Germany or if going to back and forth between one European country back to Germany 🇩🇪?
That is up to you to decide if having a bank account in Germany might be beneficial for you. Just be aware that some bank accounts require your Anmeldung paperwork to open an account with them. This means that you must be registered in the city with a German address.
@@simplegermany Is it than necessary to have a German bank account for vacations?
Is it possible for a US person visiting Germany to open an account if you not living in Germany?
That depends on the bank. You could try with the online banks. For Commerzbank you definitely need to be registered.
Hello there,
I wanted to open an account with DKB and they rejected me. Friends mentioned that it's because I don't have a German passport holder. Sad!
Do you think it's true?
Also I have an sparkasse account but I would like to have a second bank account with another bank, is that allowed in Germany?
Thank so much for the video.
With DKB, unfortunately it seems to be the case. Yes, you can have more than one bank account. A new video will be coming out soon about this topic ☺️
I got blocked account. I might choose commerz with the perks they offer to transfer blocked money. What say?
Is German Government track all the bank transactions of expats or students?? ( Or sending money abroad or receiving from abroad )
Is N26 free even now? I am asked to choose a plan between N26 Metal, You or Smart, the cheapest being 3.9 Euro/m
Yes, they still have the standard free account: www.simplegermany.com/n26-review-germany/
How popular is Wise in -Germany?
It has not reached mainstream, but we use it 😉
I'm moving to Berlin at the end of June/beginning of July from Korea (where I've been living for 7 years). I'm planning to move with around 20,000€ and definitely don't want to carry it all in cash. Since many of these banks are online banks, would it be possible to make a bank account without being in Germany? Can I make one from here so I can transfer this amount of money?
You can consider opening a multi currency bank account with Wise (simplegermany.com/wise). They have good fees for international bank transfers. You can check them out here:
How is Sparkasse?
Plz also review DKB bank
We talk about DKB in this video: ruclips.net/video/pTQjNjUPj1U/видео.html However, DKB recently changed their T&Cs and no longer offer a free credit card. They only offer German as a language and tend to be hard to get accepted by as a foreigner. So the options we mention for a bank account should be a better choice.
October 2021 Update: *Tomorrow bank now DONT have any free accounts, the minimum fee is 3/- euro for a "Tomorrow NOW" account (SAD & DISAPPOINTING).* Please make an updated video on the free bank accounts in Germany (without any hidden conditions etc). Thank you.
That is correct, and you can also see the update reflected in our written guide: www.simplegermany.com/best-german-bank-english-speakers/. Our video was never about FREE bank accounts, but about bank accounts for English-Speakers - that still applies to Tomorrow Bank. If you would like a free bank account, you can choose one of the other banks we refer to. 😉
can you make a video of how to buy a phone with payments in germany, esp. for students?
Hey Robert, the best way to buy a phone with payments in Germany is to get a mobile phone contract from one of the multiple providers. You may find more information on the subject in our detailed guide: www.simplegermany.com/best-mobile-network-germany/
You said that Commerzbank doesn't charge a monthly fee if you deposit a minimum of 700 but what happens if you miss a month for some reason? Do they charge you for every month you don't deposit and how much do they take? Also if I deposit monthly and I miss 3 months but on the 4th I deposit do they still charge me on the 4th 5th etc month or do they stop?
The months you don’t meet the minimum income of 700 euros, Commerzbank will most likely charge the 9,90 euros monthly fee.
in case of my death, i want my wife to receive all the money in my bank account. How to do this?
N26 is not available anymore for Colombian passports... Es una pena... Y yo que queria ese banco.
Si, qué pena. Acá puedes encontrar nuestro artículo actualizado sobre los bancos gratuitos en inglés: www.simplegermany.com/best-german-bank-english-speakers/
@@simplegermany Thank you for your response! BTW I had been checking other multiple banks and I'm pretty sure that you hear about Revolut. It looks as a great option and recently this year they have now a Banking License applying to Germany, so now they are able to insure your savings for 100.000! Maybe you should add it to your options in the website.
DKB eine gute Alternative auch.
DKB is a great bank but unfortunately is notoriously known for not accepting foreigners.
Please I need info about ING Bank..
Could anyone confirm this, please?
Say if I withdraw/transfer to another account €700 per month, then deposit/transfer back the same amount, do I still have to pay the monthly fee at Commerzbank???
Thanks in advance ^^
Yeah that won’t most likely hold up to keep your account free as it is very obvious 😉
@@simplegermany Thanks for your super quick reply ^^
Of course, there are other transactions (only out of the account) in the mix. I am just wondering can I mimic an incoming deposit as such?
IS Revolut a good option?
We had some bad customer service experiences with Revolut and have stopped using it since.
Can a vivid account holder make deposit and withdrawal with an ATM?
If yes, how?
Please refer to 7:15 and 9:00 to answer your questions 😉 - in a nutshell you cannot deposit money through an ATM, however you can withdraw money.
Does N26 require an Anmeldung?
That depends on your nationality 😉
❤️❤️❤️
Also ich will ja so viel wie möglich vor meinem Umzug erledigt haben. Und auch schon nach nem job suchen.... aber all das kann ich nur mir ner Telefonnummer machen. Und eine sim kriege ich nur wenn ich schon in DE bin und eine Adresse angeben kann. Das nervt. :( Ich wohne schon 24 Jahre in USA und werde so in nem Jahr wieder nachhause gehen.
So ist das leider mit der deutschen Bürokratie.
I’m from Ukraine and created Vivid money account fully online and quickly. Got a salary to it. But after two weeks they blocked me “for security reasons”. Now I have no access to money and need to wait (
Oh no! So sorry to hear!! We truly hope it gets resolved quickly!! 🤞
I wasn’t able to open a bank account with Vivid Money because of my nationality 🙄 I am from Honduras
Yes, unfortunately not all banks accept all nationalities, which is why in our guide we have linked to the accepted nationalities for each bank: www.simplegermany.com/best-german-bank-english-speakers/ 😊
Do hotels and grocery shops in Germany accept cards?
Yes, they do.
@@simplegermany Thanks
Can you open two bank accounts with two banks?
Yes you can! Just don’t have 5 different accounts, that could have a negative impact on your Schufa score 😉 - Y
Anyone can answer me? The have bank open in germany now?
You guys don't tell abut Sparkassen bank
An updated bank review is coming soon where we touch Sparkasse 😉
Dankeschön
I’m shocked that there are banks where you can not deposit your cash
That's because they are online banks and not traditional banks.
By the way I recently heard that one can deposit money to vivid account in a supermarket (up to 999€ a week). Do you know anything about that?
PSA: DO NOT USE TOMORROW BANK
I signed up for their service and they are terminating my account for no reason whatsoever within 2 months! Super annoying
Actually tomorrow bank is not free
Not anymore, they changed their pricing model lately and it is all up to date on our website: www.simplegermany.com/best-german-bank-english-speakers/
No links are there 🥶
What do you mean exactly? Where are links missing? We are happy to take a look at it 😊
@@simplegermany I am extreamly sorry I missed the whole part. Got it. Thank you :)