For Students

What is a Current Account and what do I need it for?

To ensure that you have a swinging start to your German adventure, you will certainly need to open a German Current Account. And this is not only because you need it to access the money you deposited in your blocked account ? The Current Account can also be used for all sorts of money transfers and in most cases, you also receive a free credit card that you can use to go shopping or retrieve cash all around Germany.

As you can see, there are a couple of benefits of having a Current Account. And the best thing is: most of the Current Accounts in Germany are absolutely free of charge! But not only that, some providers even have special offers for students, to make their life easier and sometimes offer them special incentives.

We recommend you to be attentive when choosing a bank and make sure that you find the offer that suits you best. There is a big variety of banks in Germany and it is important to carefully review and compare the conditions before opening an account. Take into consideration the following factors:

  • Monthly service free of charge
  • Free credit card that comes together with a girocard
  • Online and mobile banking available
  • Free cash withdrawal at many ATMs around Germany.

We have prepared an overview of some attractive options on the market to help you make an informed decision.

 

We hope that one of the recommendations above would suit your needs. Click on one of the links below to find more information and open your Current Account*:

  1. ING – Order now ➡️   
  2. 1822direkt – Order now ➡️  
  3. DKB – Order now ➡️ 
  4. N26 – Order now ➡️ 

However, there are still a few things you should be aware of. One of the most important points is that some banks require you to have an official registration certificate of a German address before you can open your Current Account there. This means that you cannot open it when you don’t have a permanent residence in Germany.

Nevertheless, there are still 2 other possibilities you can choose from to open your bank account. One is searching for an institution that doesn’t require you to have said documents or to open a basic Bank Account at almost any credit institution. You can get more information about Basic Accounts here.

This type of account must be specifically requested at the credit institution you want to open it at and requires you to fill in a special form. Although many banks provide their basic accounts for free, in most cases you don’t receive the same incentives you would get when opening a Current Account.

You have to remember that opening a Current Account is not the only thing that you need to do to successfully unblock your money. Feel free to read this Help Center article to stay prepared for your first months in Germany and learn how to get access to your money. We have also prepared a few general tips and hints with more insights below.

Tips and Hints

Tip №1: Look out for student incentives when searching for a current account. Many banks and credit institutions have special offers for students, including special student tariffs and discounts at certain partner shops.

Tip №2: Though, digital payment methods are becoming increasingly popular, some places in Germany still require you to pay in hard, cold cash. Therewith, it is advised to always carry some cash with you, so you can afford to purchase something to eat or a train ticket home at any time.

Tip №3: In Germany, the girocard is accepted at more places than credit cards such as MasterCard or VISA. It is therefore not mandatory that you get a potentially costly credit card for your stay in Germany if you look out for a German current account that offers a girocard for free.

Other than that, we hope that you found this blog post helpful and wish you a smooth start into your German adventure! And as always, we will be there to give you a helping hand 🙂

* The “Order now” buttons lead to an advertisement link. This means that we receive a commission when you buy products over this link. The product prices for you are not affected by that in any way.

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