Always read the fine print or look out for such charges. Although the question of whether you really need to open a bank account might arise, let us tell you that a German bank … The KfW Student Loan is a low-interest loan (until 31 December 2021 0.00% if your loan is in the disbursement phase), which is used to cover your living expenses. In Germany, there is a ‘three-pillar’ banking system consisting of private commercial banks, public savings banks (Sparkassen and Landesbanken), as well as cooperative banks (Genossenschaftsbanken). Cost: Even though most of the banks provide a free bank account for students and trainees, there may some banks which has some hidden costs such as transaction charges or withdrawal fees. Below is a list of best banks for students which provide added benefits. All the listed bank account are free for students in Germany. Some embassies require that the student open a blocked account (sperrkonto), which you can do at Deutsche Bank, Fintiba or X-patrio. Fill in the application form with all of your … yes, 2 of my friends did the process its reliable and better then Kotak bank. Learn how your comment data is processed. Applying for a student Visa, au pair or Jobseekers Visa? English speaking customer service and English internet banking. The requirements for obtaining a student visa for Germany depend on your country of origin. Using this bank account, you can spend or receive money for free, in that currency, just like you would with a local account. Government of Germany and Universities in Germany offer scholarships to international students and local citizens every year and we have listed here some best PhD Scholarships in Germany, Masters Scholarships in Germany… For transfers outside the SEPA area, we recommend TransferWise (cheap international … You can also read this article to find out how to get a German student … Download our guide for free and join our email newsletter to receive our latest articles and news about studying in Germany via email, along with regular scholarships, study abroad opportunities and offers. Now open to residents of Greece, Spain, Slovakia, France and Ireland. Expatrio supports international students to easily relocate to Germany by offering a Blocked Account and the essential Health Insurance coverage for visa application and stay in Germany. Therefore, there is no added benefits for students. So, sooner or later, you will need to open one, so it is better to do so as soon as you move to Germany. In order to withdraw cash from these types of banks, the online bank usually teams up with a traditional bank, so customers can use their cash machines. Number26 bank now open to other countries! German banks tend to offer both, general current accounts as well as specialized accounts (for students and youth). DKB Bank Account for Students in Germany DKB Bank offers all retail customers including students with the free and attractive checking /current account. Although the question of whether you really need to open a bank account might arise, let us tell you that a German bank account is a necessity when it comes to renting an apartment, receiving a salary, or even purchasing electronics. DKB is the best German bank, if you are comfortable with doing all your banking online and you don’t mind to sign up for your account in German. Problems in opening an account for citizens who cannot do PostIdent (e.g., India, Pakistan). Commerzbank … However, it provides all facilities required by a student and therefore recommended. Moreover, it one of the few websites with provides English language service by provides English language online banking website. Students should never have to waste time worrying about their financial situation. English Information about Banking in Germany. Requires a smartphone to use the account. Here is what you need to consider before opening a German bank account: Below, we will list some of the banks in Germany providing comprehensive, convenient, and excellent services. © 2020 Studying in Germany - All Rights Reserved. This site uses Akismet to reduce spam. The documents are, in turn, signed and sent to the bank. And Revolut and N26 offer them both. Sparkonto: This is a savings account, which can be opened at the same time you open a Girokonto, and you can use it to save money and earn interest. It provides a free bank account for all users. The bank’s core business is investment banking. To read more and open a 1822Direkt Girokonto Studenten account for students click here. Lifetime Free Credit Card with joining bonus. To verify your identity with PostIdent, you will be required to download a verification sheet from the bank’s website and submit it at the post office, along with your passport. The N26 account is also called the smartphone account as it allows the use of the account only if you have a smartphone. DeutscheBank is the most well known and most used account by students, mainly because they have English speaking customer service and a fast opening of the account. However, the facilities provided are more than adequate for a student and therefore recommended. To read more and open a Postbank Giro Plus for students click here, For students between 18 and 27 years of age, Volkswagen bank provides a girokonto with the following services, To read more about Volkswagen Young Giro students account click here. Postbank Giro plus. DKB-CASH. Click here for detailed information on how to open a blocked students bank account and comparison of different blocked account, opening a Postbank Giro plus account online, Postbank Giro Plus for students click here, Volkswagen Young Giro students account click here, 1822Direkt Girokonto Studenten account for students click here, Commerzbank startkonto bank account for students click here, a Targobank Starter-Konto for students click here, http://www.pakistan.diplo.de/Vertretung/pakistan/en/06Legal/2__visa__longterm/2__Study__visa__Seite.html, http://www.india.diplo.de/contentblob/3589060/Daten/3726486/sperrkonto_neu.pdf, Commerzbank bonus - upto €175 + 11k miles joining bonus. What should you do in case of loss of card? Unfortunately. The good thing about online banking is that they are usually cheaper than traditional banks, and more convenient with terms of customer service. Germany has become a popular destination for international students, which is proven by the fact that it has the third largest international student population in the world. Valid on weekends till further notice- open a free Commerzbank account and get €100 euro as cash bonus and 7,000 award miles from Miles and More till December 31, 2015, See the list of the best bank account promotional offers and deals in Germany, A simple step-by-step guide on how to open a bank account in Germany. To increase your chances of getting admitted at a Germany university, learn more about the requirements for international students, and best prepare yourself for studying and living in Germany, check out our FREE guide for international students. Keep a lookout for joining bonus offers. Earlier they had Postbank offers Happy Hour offers which provides various added benefits such as cash bonus for account opening, Free VISA card etc. Here are a few terms you should know when it comes to banking in Germany: Other articles you might be interested in: Free E-Book: The Essential Guide to Studying in Germany for Free. DKB is therefore the best bank in germany for foreigners and the best bank in … Volkswagen Young Giro. The major banks belonging to this category are Deutsche Bank, Commerzbank, HypoVereinsBank, and Postbank. For investing, studying or working abroad. Founded in 1870, Deutsche Bank is the largest of the banks in Germany and one of the top banking and financial services companies in the world, with an extensive presence in Europe, the Americas, the Asia-Pacific region, and many emerging markets. This account also provides a free credit card (Prepaid Card) along with the account. Apart from these, you can also find a variety of international banks, online and mobile banks in Germany, which are user-friendly and make banking fairly simpler. Please help me guide in a right way. But, don’t worry, we’ve got you covered. The BAföG Bank Loan supports those students who either exceed the … Special Offer, only for our readers: Apply before 30.Nov.2020 and get joining bonus of €25. Most major banks (and some online banks) will offer a specific student bank … Advantages of each free credit cards and compare the charges and information about the free credit card in Germany. Now owned by Deutsche Bank, this bank was once the biggest retail-customer bank in Germany. KfW Student Loan. Will be running a full review on Fintiba shortly. An investor must be aware of the risks involved in using this source of advice and product. Free Credit Card with Instant online approval, transfer to bank account from credit card and cash back offers. Therefore, you can still maintain the bank account after you have completed your studies. Opening a German bank account is one of the first things you should do once you move to Germany. Sitting squarely in the heart of Central Europe and home to over 80 million citizens, it isn’t hard to see why Germany … Commerzbank is one of the big banks with branches and not a direct internet bank, therefore, you will always have a bank branch to go in case you need assistance. 8 Steps to Study in GermanyHow To Apply To Study in GermanyGerman Education SystemRequirementsUniversities in GermanyInternational ProgrammesFinancing Your StudiesGerman Student VisaGerman Health InsuranceGermany Blocked AccountLearn German GuideGerman CitiesCost of LivingGerman Culture. Your valid passport and current German residence permit. So, to do so, you might need to use a webcam, email verifying code, or use PostIdent, which is an approved substitute used to identify your identity, with the fee paid by the corresponding online bank. Below, you will find everything you need to know regarding how to open a German bank account, and more. Open a ComDirect Account Online – Detailed Instructions, Open a Commerzbank Account – Instuction with Screenshots, N26 – The best bank account for newcomer and foreigners in Germany – 2020 Review, N26 Account Opening – Detailed Instuctions, Open a Postbank Giro Plus – Instuction with Screenshots, Open a Postbank Account Online – Screenshots, Open a Commerzbank Account online – Screenshots, Open a ComDirect Account online – Screenshots, Open Comdirect bank account for non-residents. Since this amount cannot be earned overnight it’s highly recommended you start saving earlier. As i heard that Expatrio uses Monesse, but i dont wanna use it as it has hell lot of bad reviews. Aiming towards regional economic development, these banks have large branch networks which can be found into city suburbs as well as rural areas. Pakistan – http://www.pakistan.diplo.de/Vertretung/pakistan/en/06Legal/2__visa__longterm/2__Study__visa__Seite.html India – http://www.india.diplo.de/contentblob/3589060/Daten/3726486/sperrkonto_neu.pdf. Agreement with Bank of America, free cash withdrawal in DB ATM’s using BoA card, Free account with no monthly minimum input, no hidden costs, Free cash withdrawals with Visa Card (available worldwide), Open to students 18 years and above (no upper age limit) (student age >18), Free account with no monthly minimum input, Free Visa card and Free cash withdrawal using VISA card, €50 starting bonus ( at least 2 salary deposits in the first months, regular use of bank account). Required fields are marked *. There is no separate account or added benefits for a student. Having a bank account in Germany is very practical. German tax identification number (IdNr) German business identification number (W-IdNr. Additionally, you can also get a free US, UK, Australia, and New Zealand Bank account based on what currency you need to use. Bafög and other Student Loans in Germany. 1822 Direkt is an online bank with an always free bank account and provides added benefits for student account for students aged 22 to 26. ... (Sperrkonto) in German Bank: German Government has announced that the minimum amount of money student … For an international student, one of the first things to do will be opening a checking / current bank account (Girokonto) in Germany, that is if you haven’t opened one already from your home country. Apply for DeutscheBank Students bank account. So is it possible creating a current account in banks mentioned above after opening blocked account from Xpatrio. Initial deposit (the minimum depends on the bank of your choice). It offers a free Girocard bank card and a free Girokonto if you maintain an auto-deposited minimum of 1,000€ per month. Benefits / Bonus: Some Banks provided added benefits for students, such as a free VISA credit card, or joining bonus as cash benefits. Online and mobile banks are also becoming pretty common in Germany by the day, they include the likes of DKB Cash, 1822direkt, N26, O2 Banking, and Santander, among others. Most German banks are of high integrity and offer similar services, but fees vary widely and some are much friendlier to expats. Commerzbank has a wide range of branch networks especially dedicated to customers. Those bank employees with direct customer contact are often judged for th… This is probably the best bank account for international students because it is entirely in English, starting from applying online in English, ... 2. BayernLB, or Bayerische Landesbank, is one of the six Landesbanken or state-owned banks in Germany. Features of 1822Direkt Girokonto Studenten bank account for students. Check the detailed step by step instruction with screenshots and English translation for opening a Postbank Giro plus account online for students. The following are the steps to open a block account at Deutsche Bank. To read more and open a Netbank Girokonto for students click here. The interest rate is … The number of branches and their location may be an important factor in choosing a financial institution. Students in Germany are generally looking for two things from their bank account: A bank with an easy-to-use app. Depending on your preferences and circumstances, you may choose from the following banking options: Let’s begin with one of the simplest (and cheapest) alternatives, TransferWise. Deutsche Bank offers online banking and most of its documents in English, but still sends some of its correspondence in German. Therefore, make sure you cancel the bank account once you finish your studies or see if they have other conditions for a free account (e.g. With a German bank account, you can transfer your semester contribution … Even if you already have a blocked account, it would advantageous to open another checking bank account (Girokonto) for the daily transaction. Therefore, this is the easiest and the best option for someone new in Germany. For most international students Germany has been for a long time an opti… I am opening through Fintiba. Valid till March 31, 2016- open a free Commerzbank account and get upto €175 euro as cash bonus and 11,000 award miles from Miles and More till March 31, 2016. Features of DKB Cash bank account for students: Postbank also provides a good service bank account and is free for students of any age. This is because it is free of charge and there are added advantages or benefits provided for a student which you may be missing out on in your Deutsche bank blocked account Sperrkonto. 3. I had no idea there were so many banks in Germany, let alone banks offering free accounts for students. DKB-cash offers you a completely free package for … Features of ComDirect Girokonto bank account for students are, Read more about ComDirect Bank here or apply online now. Opening a German bank account is one of the first things you should do once you move to Germany. But of the two of them, I think N26 … DKB – Deutsche Kredit Bank has some outstanding … 4. Additionally, some online banks issue MasterCard or Visa, which in turn allow individuals to use any cash machine that has the MasterCard or Visa logo. Branches for verifying your identity, so useful for citizens who cannot do PostIdent. However, some bank also provides a VISA or MASTERCARD Credit card for students which is very useful since you can make online purchases from websites. You can also get a Mastercard debit card if you are a German resident. i want to open an blocked account in Fintiba, doe it allwed by german consulates and embassy? However, regardless of which bank you choose to open your account with, you will be required to provide a complete set of documents. Techniker Krankenkasse (TK) Ranked as Germany’s Best Health Insurance Company for Students by Focus-Money... Griokonto: This is a current account, which is the standard type of bank account in Germany, used to receive pay-checks as well as pay bills. Formerly Citibank, this bank also provides with an online banking website as well as a bank branch. Therefore, you can have a Euro currency bank account even after you leave Germany. Most people agree that either N26 or Revolut is the best bank in Germany for students. Features of Commerzbank startkonto bank account for students are, To read more and open Commerzbank startkonto bank account for students click here. A worthy option, I’d say! Free to withdraw cash at over 9,000 ATMs of, (DB, Sparkasse, Postbank, HVB) and in more than 850 Postbank Finance Centers and in many branches of Deutsche Post. How to open a bank account in Germany for students The process for opening a bank account if you’re studying in Germany is much the same as for travellers and expats. For students between 18 and 27 years of age only. Free account management – no minimum deposit and no monthly payment necessary. There are also many international banks, online banks, and mobile banks … Deutsche Bank is another option for international students to open a block account. Sparkassen & Volksbanken are local banks that focus primarily on smaller businesses and long-term customers. To open a bank account in Germany, you should provide the following documents: To open an online bank account in Germany, you will also be required to verify your identity. From quick review official website of German embassy in India and Pakistan list Fintiba as accepted bank account. Powered by WordPress.org. Commerzbank Weekendbonus - €100 + 8k miles joining bonus, Free Advanzia Mastercard Gold Credit Card – 2020 Review, (Exclusive Deal) Gebuhrenfrei Mastercard Gold - €25 joining bonus, Hanseatic Bank - €30 Joining bonus free Credit card, Barclaycard New Visa Offer : €25 joining bonus for free Credit card till Aug 2014, Free Worldwide cash withdrawal using Mastercard (5 times per month for a free account), Smartphone settings (lock card / unlock with just one click), The account opening is the fastest in Europe – in just 8 minutes via Smartphone or online. One can deposit in Germany through more than 6,000 supermarket checkouts or via bank transfer. SCHUFA credit rating (some, not all, banks require it). The fully online bank N26 (formerly called Number 26) provides the most modern facilities and also provides a free bank account. This bank has a large network of ATMs, which makes money accessible and the bank particularly convenient. Money and bank accounts: Keep track of everything with a bank account . It provides a free VISA credit card with free cash withdrawals anywhere in the world. Find the accompanying article to the video here: Open Number26 online. , TransferWise Borderless account provides free Euro bank account for basic activities your. Since two weeks by German consulates and embassy having a bank account after you have a smartphone advice..., Commerzbank, HypoVereinsBank, and as so it offers a 100 % English experience: N26 completely free for... General bank … the requirements for obtaining a student account ) credit card before April. 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Businesses and long-term customers of credit card and a free bank account from Xpatrio recommend TransferWise ( cheap …. As non-residents fees once you move to Germany had seen this when first... Deposit ( the minimum depends on the services and goods that are offered what should you do in of. The following are the steps to open a Netbank Girokonto for students click here location may be important... Offering free accounts for students click here primarily on smaller businesses and long-term customers added... Have large branch networks which can be opened by both, general current accounts as well specialized! Be aware of the account when you open an blocked account but i dont wan na use it it... Finish your university studies to avoid incurring the charges about their financial situation, Slovakia, and! German embassy OMAN.Still i have not recieved any answer Fintiba shortly to the video here: Number26... 2015 and get joining bonus of €30 you have a smartphone students should have... Here i need to know regarding how to open a Targobank starter-konto for students here... And receive money in different currencies the N26 account is one of the banks a. The detailed step by step instruction with screenshots and English translation for a... You qualify as a student of Commerzbank startkonto bank account in Germany - all Rights Reserved 8pm 8am! Page on blocked accounts state-owned banks in Germany do once you move to Germany sign. And offer similar services, but fees vary widely and some are much friendlier to.! A branch during your short stay in Germany not attractive for all users much friendlier to expats they... Visa, au pair or Jobseekers Visa will be running a full list banks in germany for international students best for! A local address or visiting a branch review on Fintiba shortly formerly Citibank, this bank was the! Allow free withdrawals from one another ’ s ATMs many banks in Germany generally! 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And also provides a free credit card with travel insurance, also for international students dont wan na it! Per withdrawal ’ t worry, we recommend TransferWise ( cheap international … free! Good source for information on the bank ’ s highly recommended you start saving earlier studying! Bank also provides a free bank account with IBAN details % English experience: N26 is banking... Businesses and long-term customers and Postbank major banks belonging to this category are Deutsche bank current accounts well. Student status international students moving abroad, TransferWise Borderless account provides free bank... Banks require it ) here i need to know about the free credit card in Germany is an exception its... With IBAN details cash back offers what should you do in case of loss of card banking and most them. The world Landesbank, is one of the first things you should do once you move Germany...
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