MONEY / THE ALPENROSE GUIDE

Choosing a bank account as a new arrival

Find an account that fits your first months in Germany: compare real costs, check how you can open it, and know what to do if your application is refused.

6 min readBeginnerBy Alpenrose Partner

Updated 7 September 2026

Your first German bank account has a fairly ordinary job: receive your income, pay the rent and keep everyday payments running. Start there. The account with the most impressive app may still be awkward if you cannot complete its identity check or deposit the cash you use regularly.

You do not need to solve every financial decision at once. Choose an account for your current circumstances, save the terms you relied on and review it when your work or living situation changes. This guide covers personal payment accounts, rather than business accounts or investments.

For identical illustrative usage, account A costs 11 euros a month: no account fee, 3 euros for the card and 8 euros for withdrawals. Account B costs 6 euros with those services included. Eligibility and required services must be confirmed first. — Illustrative monthly costs for identical usage, not a bank offer. Check eligibility and current terms first.

Check whether you need a new account immediately

If you already have an account in another EU country, check whether it supports the SEPA euro transfers and direct debits you need. An account should not be rejected for those payments simply because it is located in another EU member state. The European Commission explains this as IBAN discrimination. A German IBAN can be convenient, but it is not automatically a legal requirement for receiving salary or paying bills. European Commission: IBAN discrimination

Ask your existing provider whether moving to Germany changes your eligibility, fees or contact details. Then confirm the practical payment setup with payroll and your bill providers. If a form rejects your IBAN, save the error and ask for a manual correction. The Commission links to the relevant national complaint routes. European Commission: IBAN discrimination

Compare the whole month, not the headline price

BaFin's account comparison is a free, neutral starting point for personal current and basic payment accounts offered in Germany. It lets you compare features such as account charges, cards and cash services. BaFin does not recommend a winner; confirm the current offer directly with the provider before applying. BaFin: neutral account comparison

Make a shortlist of two or three accounts. For each, write down the monthly charge, any minimum incoming-payment condition, the card you actually need, and likely withdrawal or deposit costs. Check separately for foreign-currency use and optional extras. A zero monthly account fee does not mean every service is free. BaFin: neutral account comparison

Here is a fictional example, not a bank offer: account A costs EUR 0 per month, but your chosen card costs EUR 3 and four chargeable withdrawals cost EUR 2 each. That is EUR 11 for your month. Account B costs EUR 6 with those particular services included. The useful comparison is EUR 11 against EUR 6, provided you meet both accounts' conditions. Your own usage may produce a different result.

Make sure the opening process fits your documents

Before starting an application, ask which identity documents the provider accepts and how it verifies them. Also ask what it needs for your address, residence status and tax-residency information. Requirements and verification routes differ. Do not assume that an online application will accept every foreign passport or that every account needs exactly the same paperwork.

A useful message is: 'I have recently moved to Germany. I hold a [country] passport and currently have [address document]. Can I open this account, which documents do you need, and is there an alternative if online identification does not work?' Send this through the provider's official contact channel. Do not attach identity documents to an initial enquiry unless the bank directs you to a secure submission process.

Check the less exciting details, too: can you recover access after losing your phone, get support in a language you understand, and obtain statements when you need them? Ask which physical or digital cards are included. If branch access matters to you, make sure there is a usable branch nearby.

Understand who holds your money

Identify the legal institution behind the account and read its deposit-guarantee information. Statutory deposit protection generally covers eligible deposits up to EUR 100,000 per customer at each institution. The limit is not a separate allowance for every account or app brand. Check the institution and applicable scheme rather than relying on a logo. BaFin: deposit protection

On your worksheet, record the legal provider name beside the product name. If you cannot tell whether the balance is a bank deposit or how it is protected, ask the provider to explain before transferring your moving budget. A clear answer is part of choosing a service you can comfortably use.

If a standard account application is refused

A refusal for an ordinary Girokonto does not settle whether you qualify for a Basiskonto, the legally defined basic payment account. Section 31 ZKG gives eligible consumers lawfully resident in the EU access, including people without a fixed address and asylum seekers; it also includes certain people who cannot be deported. For a qualifying application, the offer must generally be made within ten business days. ZKG section 31: right to a basic account

This right has conditions and statutory refusal grounds. For example, an existing usable payment account in Germany can be a reason for refusal under section 35. Apply specifically for a Basiskonto and keep a dated copy and acknowledgement, rather than repeatedly submitting ordinary account applications. ZKG section 35: existing payment account

A Basiskonto provides core payment services such as deposits, withdrawals, transfers and direct debits. It is not necessarily free and should not be treated as a promise of credit or an overdraft. Check its charges as carefully as any other account. If the bank refuses it or misses the statutory response period, section 48 provides a route to request administrative proceedings at BaFin. ZKG section 38: basic payment services ZKG section 41: basic-account charges ZKG section 48: BaFin administrative proceedings

Connect the account to your first month

Once the account works, make a small test transfer and check access to statements. Give payroll the confirmed payment details, arrange rent payments and check any direct-debit mandates with your insurer and other providers. Opening a bank account does not itself activate insurance cover; keep payment setup and confirmation of cover as separate tasks.

If you are moving payments from another account, keep a list of regular bills and confirm each change. Leave enough money available for payments still using the old account. Set a review date after your first complete salary-and-bills cycle so you can compare actual charges with your estimate.

Your next step

If you want to record your own decision, use the optional downloadable worksheet to compare two accounts, record unanswered questions and choose a next action. You are ready to apply when you know you can complete identification, handle your everyday payments and explain the likely monthly cost in one sentence.

Editorial research checked on 7 September 2026. Product terms can change; confirm your selected account's current conditions before applying.

Put this into practice

Choose your first bank account — optional fillable PDF, 2 pages

Fill and save your own copy in a PDF reader, or print it. Use the result to ask the bank, landlord or responsible authority a specific question. Saving the file does not submit an application or send your answers to Alpenrose.

Plan the cash you will need with the first-month budget