29 May 2023

Banking in Germany: How to open a German bank account

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As an expat in Germany, one of the first steps in setting up your life will be to open up a German bank account, to receive your salary, rent an apartment, transfer money abroad, or take out health insurance.

Banks in Germany

Before you open your bank account, you might want to do some research on which bank best suits your needs. In a country that has more banks per head than anywhere in the developed world, you have plenty of choice.

While you are deciding where to do your banking in Germany, it is wise to take into account that most banks in Germany charge their account holders a yearly fee; many banks will also charge you for withdrawing cash from an ATM belonging to a different bank.