Best Banks for Expats in Germany 2026: N26, Wise & Commerzbank Compared

Opening a bank account in Germany is one of the first real bureaucratic hurdles new arrivals face. Most traditional banks require proof of your registered address before they will open an account, but landlords often want bank account details before they will offer you a flat. This catch-22 is real — and solvable. This guide explains your options, what the process looks like, and which banks actually work for expats.

Why Opening a Bank Account Is So Hard

German banks require documentation and proof of residency to a degree that surprises most new arrivals. Specifically:

• Most traditional banks require your Meldebescheinigung (proof of Anmeldung) as proof of address
• Banks often run a Schufa credit check, which new arrivals typically do not have
• Some banks restrict accounts based on nationality
• German-only forms and in-person appointment requirements slow the process

A bank account is not optional. You need it to pay rent, receive your salary, set up direct debits for health insurance, and pay utilities. The good news is that several online banks have removed the Anmeldung requirement entirely.

How German Banking Works

Traditional banks

Commerzbank, Deutsche Bank, Sparkasse, Volksbank, and Postbank are the main traditional options. They have physical branches across Germany, offer a full range of financial products, and are generally well-regarded for reliability. The trade-off is paperwork: they require your Anmeldung, and opening appointments can take weeks to arrange in larger cities.

Online banks

N26, bunq, Wise, Revolut, and C24 operate entirely through apps. They are the practical starting point for most new arrivals because many do not require an Anmeldung to open an account. Identity verification is done via video call or post office visit — no branch required. If you are brand new to Germany, start here and switch to a traditional bank later if you need mortgage products or prefer in-person service.

Types of Bank Accounts

The Girokonto (current account) is what you need first. This is your everyday account for salary, rent, and bills.

The Basiskonto (basic account) is a legally mandated account that banks must offer to anyone legally residing in the EU. It is more limited but useful if a standard application is rejected.

The Tagesgeldkonto (savings account) is linked to your current account and earns interest. You can withdraw anytime.

The Sperrkonto (blocked account) is a special account required for certain visas. See the blocked accounts section below.

Requirements and Documents

For most traditional banks: passport or EU ID, Anmeldung proof (Meldebescheinigung), German phone number, and sometimes a Tax ID (optional at first).

For online banks: passport, smartphone for identity verification, and a postal address for your card (can be temporary).

For non-EU citizens: some banks additionally require a residence permit, entry visa, or proof of employment or university enrollment.

Important: Your name must be on your mailbox before you apply. Bank cards and PINs are sent by post to your registered address. If your name is not on the mailbox, they will be returned — a frustratingly common problem.

Step-by-Step: How to Open a Bank Account

Step 1: Choose the right bank for your situation. If you do not yet have your Anmeldung, choose an online bank — N26, bunq, Wise, or Revolut. If you have your Anmeldung and want a traditional bank, Commerzbank is the most expat-accessible option.

Step 2: Fill out the application. Online banks walk you through this in the app. Traditional banks may require an in-person appointment or an online form with document uploads.

Step 3: Verify your identity. Online banks use Video Ident (a short video call) or Post Ident (a visit to any post office with your documents). This takes 10–15 minutes.

Step 4: Wait for account approval. Online banks approve almost instantly. Traditional banks may take a few days.

Step 5: Activate your card. Your card and PIN arrive by post separately for security. Activate through the app once both have arrived.

Can You Open a Bank Account Without an Address?

Yes — and this is the most important thing to know if you have just arrived. N26, bunq, Wise, and Revolut all allow you to open an account before your Anmeldung is complete. You provide your address later once registered.

Traditional banks cannot do this. They will not proceed without a Meldebescheinigung.

English-Friendly Banks

N26 — Probably the easiest starting point. The entire app is in English, you can open without Anmeldung, and the free standard account includes a German IBAN. View N26 details →

bunq — A strong option for international expats, accepting a wider range of nationalities than N26. German residents receive a German IBAN. Opening is quick and the interface is English-first. You need to provide your German address within 90 days of opening. View bunq details → or open an account here.

Wise — Best for opening from abroad before you arrive. The account uses a Belgian IBAN rather than a German one, which is accepted in most situations but occasionally causes issues with German salary payments. The cheapest option for international transfers by far.

Revolut — Good for budgeting, travel, and international payments. German residents can now obtain a German "DE" IBAN, making it more practical for day-to-day German banking. View Revolut details →

Commerzbank — The most expat-accessible traditional bank, with English online banking and English support at many branches. Requires Anmeldung. View Commerzbank details →

Deutsche Bank — Well-known internationally and a common choice for students needing a blocked account before arriving. Requires Anmeldung for standard accounts. View Deutsche Bank details →

Best Banks for Expats

N26 — Best for speed and simplicity. Free standard account, German IBAN, fully English app, no Anmeldung required to open. Good for building a Schufa history.

bunq — Best for international passport acceptance. Accepts more nationalities than N26, English-first app, German IBAN for residents. Address required within 90 days. Paid plans only for full current account functionality (see costs below).

Wise — Best for opening from abroad. Works with a foreign address, multi-currency, lowest transfer fees on the market. Belgian IBAN — fine for most purposes but occasionally rejected by German payroll systems.

Commerzbank — Best traditional bank. Physical branches across Germany, English online banking. Monthly fee of €4.90 applies — the waiver condition (€50,000 in total Commerzbank assets) is not realistic for most expats, so budget for the fee.

Deutsche Bank — Best for students needing a blocked account. Good international reputation, useful for visa-related banking needs. Requires Anmeldung for standard accounts.

Find Banks by City

Browse verified English-friendly banking options by location:

• Banks in Berlin
• Online banks — work from anywhere in Germany
• Nationwide banks

Blocked Accounts (Sperrkonto) for Visa

If you are coming to Germany on a student visa or job-seeker visa, you may need a blocked account (Sperrkonto). You deposit a full year of living expenses upfront, and the account releases a fixed monthly amount. This demonstrates financial self-sufficiency to the German authorities.

The three main providers are Fintiba, Expatrio, and Coracle. All three are online-only and significantly faster than dealing with a traditional bank for this purpose. Each account can be set up in 30–60 minutes.

Costs and Fees

N26 Standard: €0/month. Free withdrawals at most ATMs in Germany subject to plan limits.

bunq: The free bunq plan is a savings-only account — it does not include a physical card or full current account functionality. A full personal current account starts at €3.99/month (Core plan) and goes up to €18.99/month (Elite). For most expats, the Core or Pro plan is sufficient.

Commerzbank: €4.90/month. The fee is waived only if you hold €50,000 or more in combined assets across all your Commerzbank accounts — a threshold that does not apply to most expats. Budget for the monthly fee.

Deutsche Bank: €6.90/month for the standard account.

Wise: No monthly fee, but a one-time €50 account setup fee applies for the multi-currency account. Transfers are pay-as-you-go from around 0.39% — consistently cheaper than any traditional bank for international transfers.

For ATM withdrawals: Commerzbank and Deutsche Bank are free at Cash Group ATMs (6,000+ locations). N26 allows 2–3 free withdrawals per month on the standard plan. bunq and Wise have monthly limits before fees apply.

How Long Does It Take?

Online account opening: 10–20 minutes. Card delivery: 3–10 days by post. Traditional bank account: 1–3 weeks due to appointment availability and processing. Blocked account: 30–60 minutes to set up.

Do I Need German?

Not for online banks. N26, bunq, Wise, and Revolut all have fully English interfaces and English-language customer support. For branch visits at Commerzbank or Deutsche Bank, English support is available at most larger branches but cannot be guaranteed at smaller ones.

Useful phrases if you visit a branch:

• "Ich möchte ein Konto eröffnen." — I would like to open an account.
• "Sprechen Sie Englisch?" — Do you speak English?
• "Welche Dokumente brauchen Sie?" — Which documents do you need?

Common Mistakes

Not putting your name on your mailbox. Your bank card will be returned as undeliverable. Do this before you apply, not after.

Applying for too many accounts at once. Multiple applications in a short period can negatively affect your Schufa score. Pick one bank and open it properly before trying others.

Assuming branch staff speak English. Many do, especially in larger cities and at Commerzbank and Deutsche Bank. But it is not guaranteed. Have your documents ready and use translation apps if needed.

Using a hotel or temporary address. Most traditional banks will not accept a hotel or Airbnb address. You need a permanent residential address — or use an online bank that accepts a temporary postal address while your Anmeldung is in progress.

Assuming bunq is free for a full current account. The free bunq plan is savings-only. If you need a physical card and full banking functionality, you need a paid plan starting at €3.99/month.

What Happens Next

Once your bank account is open, you can sign your rental contract, receive your salary, set up direct debits for health insurance, pay for utilities and internet, and start building a Schufa credit history in Germany.

If you have not yet done your Anmeldung, that needs to come next — it unlocks your Tax ID, your residence permit application, and proper monthly mobile contracts. Read our complete Anmeldung guide for step-by-step instructions.

FAQ

Can I open a bank account before arriving in Germany?
Yes. Wise and Revolut both allow account opening with a foreign address. N26 may also work depending on your nationality. All three are fully online.

Do I need German to open an account?
Not for online banks. N26, bunq, Wise, and Revolut all have English interfaces. For branch visits at traditional banks, English support is available at most larger locations.

Do I need a German address?
Traditional banks require it. Online banks like N26 and bunq allow you to open without an Anmeldung, though you will need to provide a German address within 90 days.

Which bank is easiest for newcomers?
N26 for simplicity and speed. bunq if you need a bank that accepts a wider range of nationalities or want a more internationally-oriented product.

Do I need a German IBAN for my employer?
Most German employers accept any EU IBAN. Some payroll systems prefer a German "DE" IBAN — N26, bunq, and Revolut all provide German IBANs for residents. Wise uses a Belgian IBAN which is accepted in most cases but occasionally causes issues.

Do I need a bank account to get my Tax ID?
No. Your Tax ID arrives by post after your Anmeldung, regardless of whether you have a bank account. You do need a bank account to receive salary payments.

Can I open a bank account with a tourist visa?
Some online banks allow it. Traditional banks typically will not. Check our Visa and Residence Permit guide for details on what each visa type allows.

Last updated: March 2026

This guide is for informational purposes only. Bank fees, product features, and eligibility requirements change frequently. Always verify current conditions directly with the bank before opening an account. This is not financial advice.