when you open an account online at particular times (e.g. 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. Therefore, you can still maintain the bank account after you have completed your studies. Sitting squarely in the heart of Central Europe and home to over 80 million citizens, it isn’t hard to see why Germany … An investor must be aware of the risks involved in using this source of advice and product. The documents are, in turn, signed and sent to the bank. Learn how your comment data is processed. Proof that you are a student (if you’re opening a student account). While up to now, international students needed at least 8,640 euros deposited in a blocked account in a bank in Germany… Applying for a student Visa, au pair or Jobseekers Visa? Only one German bank officially offers a 100% English experience: N26. Volkswagen Young Giro. There are also many international banks, online banks, and mobile banks … Apply by Sept 30, 2014 and get €25 joining bonus. Sparkassen & Volksbanken are local banks that focus primarily on smaller businesses and long-term customers. 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. The Advanzia bank Free Mastercard Gold credit card offers a lifetime free Credit card with free foreign usage without any transaction charges, Mastercard Gold benefits including free travel insurance, and best option for students and expat new in Germany. Read more why it is the best account for a newcomer foreigner in Germany. A new study says Germany is an exception with its free higher education. Yes, please check the page on blocked accounts. This is probably the best bank account for international students because it is entirely in English, starting from applying online in English, ... 2. Zero fees. The N26 account is also called the smartphone account as it allows the use of the account only if you have a smartphone. Banking in Germany Germany has a three-pillar banking system made up of private commercial banks, public savings banks (Sparkassen and Landesbanken) and cooperative banks (Genossenschaftsbanken). Bank charges in Belgium vary across different banks for the various services that they provide. The requirements for obtaining a student visa for Germany depend on your country of origin. Features of ING DiBa Girokonto Student bank account for students are. However, regardless of which bank you choose to open your account with, you will be required to provide a complete set of documents. Free Girocard with free access to over 2,900 ATMs of the, Free account management – even after graduation, Free account management – no minimum cash receipt, €50 starting bonus ( if at least 5 transactions of 25 euros each month for the first 3 months), Free banking, no minimum cash input required, Free cash withdrawals at cash machines with pool girocard, MasterCard classic (free if usage of € 4,000 per year otherwise € 20 p.a), Worldwide free cash withdrawal of up to 5 times p.m with the MasterCard classic. As one of the biggest banks in Germany, this bank is highly-regarded for its customer service, accounts, and site dedicated to English speaking customers. There is no separate account or added benefits for a student. 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. This site uses Akismet to reduce spam. How to Transfer Money Within Germany and Abroad, How to Open a Blocked Bank Account in Germany, How to Transfer Money to Blocked Account in Germany, How to Open an N26 Bank Account in Germany, Factors to Consider When Opening a Bank Account in Germany. The BAföG Bank Loan supports those students who either exceed the … DKB-cash offers you a completely free package for … Problems in opening an account for citizens who cannot do PostIdent (e.g., India, Pakistan). Selecting a Bank • German Bank Accounts. Both German and international students are entitled to receive this loan, in accordance with §8 BAföG (see the chapter "BAföG"). Students should never have to waste time worrying about their financial situation. But of the two of them, I think N26 … *) For tax purposes, I am registered in Germany and the following countries: Note: For every account holder, authorized person, beneficial owner banks … Please advise. Having a bank account in Germany is very practical. What these banks have in common is that they are all part of the Cash Group, meaning ATM withdrawals are free if you bank with them and use their ATMs. Free account management – no minimum deposit and no monthly payment necessary. I have applied for Deutsch Bank Blocked Account since two weeks by German embassy OMAN .Still i have not recieved any answer. Most people agree that either N26 or Revolut is the best bank in Germany for students. In Germany, there are generous provisions for students, including a range of … Open an online Germany bank account and documents required to open a German Bank account. 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). Your email address will not be published. Is Sutor Bank a reliable bank for a blocked account? DKB-CASH. Studying-in-Germany.org is the largest information portal about studying in Germany for foreign students. Powered by WordPress.org. You can study in Germany on fully funded or partially funded scholarships. However, the facilities provided are more than adequate for a student and therefore recommended. You can also read this article to find out how to get a German student … List of credit card providers with free credit cards in Germany. With a German bank account, you can transfer your semester contribution … DKB – Deutsche Kredit Bank has some outstanding … Most German banks are of high integrity and offer similar services, but fees vary widely and some are much friendlier to expats. Therefore, there is no added benefits for students. Required fields are marked *. A worthy option, I’d say! For students between 18 and 27 years of age only. Features of 1822Direkt Girokonto Studenten bank account for students. All the listed bank account are free for students in Germany. can US citizens open Fintiba blocked account? Cards: All the banks provide a Geldkarte (ATM Card) and most of them provide an EC/Maestro Card. If you’re looking to get a leg up in your international career amid a thriving country and culture, then an internship abroad in Germany is the way to go. Find the accompanying article to the video here: Open Number26 online. Formerly Citibank, this bank also provides with an online banking website as well as a bank branch. We publish news about the latest German higher education system changes and education policy updates, as well as a vast amount of informational content, articles, and research about studying in Germany for international students. Please help me guide in a right way. 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. 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. Also note that if you are doing an internship or under training but still registered with a university, you will be considered as trainee student and most banks provide the same benefits as for students. 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. 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. 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. General bank … 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. The fully online bank N26 (formerly called Number 26) provides the most modern facilities and also provides a free bank account. For transfers outside the SEPA area, we recommend TransferWise (cheap international … 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. This account also provides a free credit card (Prepaid Card) along with the account. Update your info. The Federal Foreign Office of Germany has increased the amount of money that foreign students wishing to study in Germany need to attest owning, for nearly 20%. English speaking customer service and English internet banking. Deutsche Bank is another option for international students to open a block account. I had no idea there were so many banks in Germany, let alone banks offering free accounts for students. 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. The top banks in Germany are: Deutsche Bank. 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. Since it has branches in all cities, you can verify your identity at the bank branch closest to you. Therefore, make sure you qualify as a student for the bank. What makes it interesting is the joining bonus for new customers. same here i need to know about the fintiba too . BayernLB, or Bayerische Landesbank, is one of the six Landesbanken or state-owned banks in Germany. Lifetime Free Credit Card with joining bonus. from 6pm to 8pm, or 8pm to 8am or on all day on weekends etc,). 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. 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. Students in Germany are generally looking for two things from their bank account: A bank with an easy-to-use app. Online banking … Overseas account opening with HSBC international banking services in more than 30 destinations around the world. Studying in the UK is expensive for both domestic and international students, so it is important that you choose a good student bank account that can help you to maximise your money. deposit a regular monthly salary). Special Offer, only for our readers: Apply before 30.Nov.2020 and get joining bonus of €25. Advantages of each free credit cards and compare the charges and information about the free credit card in Germany. The good thing about online banking is that they are usually cheaper than traditional banks, and more convenient with terms of customer service. Before you make your decision on the type of account you want to open or which bank you want to opt for, make sure you consider a few factors regarding the services, branches, ATMs, and fees. For the latest happy hour offer, check here. Aimed at international students moving abroad, Transferwise Borderless account provides free Euro Bank account with IBAN details. Now owned by Deutsche Bank, this bank was once the biggest retail-customer bank in Germany. 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. See other best Credit Card promotional offers and Deals in Germany, Copyright © 2014 Banks GermanyTheme created by PWT. It offers a free Girocard bank card and a free Girokonto if you maintain an auto-deposited minimum of 1,000€ per month. 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. 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. The interest rate is … Features of Postbank Giro Plus bank account for students are. The major banks belonging to this category are Deutsche Bank, Commerzbank, HypoVereinsBank, and Postbank. I am opening through Fintiba. 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. yes, 2 of my friends did the process its reliable and better then Kotak bank. Advantages of N26 bank account for students. What should you do in case of loss of card? 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. Earlier they had Postbank offers Happy Hour offers which provides various added benefits such as cash bonus for account opening, Free VISA card etc. You can also get a Mastercard debit card if you are a German resident. Germany Free tuition in Germany not attractive for all foreigners. Also, DKB makes it easy to set up a German bank account for foreigners since they have a clear business model. Requires a smartphone to use the account. Bafög and other Student Loans in Germany. 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. Using this bank account, you can spend or receive money for free, in that currency, just like you would with a local account. Check the detailed step by step instruction with screenshots and English translation for opening a Postbank Giro plus account online for students. Those bank employees with direct customer contact are often judged for th… Moreover, it provides a free credit card with Instant online approval, transfer to account... Apply by Sept 30, 2014 and get joining bonus of €25 about ComDirect bank here apply. Usually cheaper than traditional banks largest information portal about studying in Germany factor in choosing a institution! At the bank regarding how to open a Targobank starter-konto bank account with free credit card Prepaid! Student ( if you want a simple bank account, what a helpful guide want to open a blocked bank! A good source for information on the services and goods that are offered is that they are a source... A free bank account after you leave Germany a local address or visiting a branch open a German resident business... All banks in germany for international students required by a student ( if you maintain an auto-deposited minimum of 1,000€ month... Etc, ) experience: N26 - all Rights Reserved English translation for a. Basic activities during your short stay in Germany but i dont wan use. First came to Germany the risks involved in using this source of advice and product English information the. A 100 % English experience: N26 country of origin can verify identity! Per month provides all facilities required by a student account ) i dont na. About their financial situation payment necessary with provides English language online banking website as well as a student if... 27 years of age only you will Find everything you need to know about free! Ec/Maestro card sparkassen & Volksbanken are local banks that focus primarily on smaller businesses and customers! Will Find everything you need to know regarding how to open a block account http: //www.pakistan.diplo.de/Vertretung/pakistan/en/06Legal/2__visa__longterm/2__Study__visa__Seite.html India http... Verified online, all without a local address or visiting a branch and customers. Blocked accounts students are below is a public regulated bank based in Munich, and more no longer a (... Girokonto student bank account with DB will cost €5.90 per month, don ’ worry... Startkonto bank account for students interesting is the easiest and the best account for students are, all. But fees vary widely and some are much friendlier to expats networks especially dedicated customers. Is an exception with its free higher education idea there were so many banks in Germany through more 6,000. Since two weeks by German consulates and embassy students between 18 and years! Convenient with terms of customer service with free credit cards in Germany an must. Exception with its free higher education you a completely free package for only... I had seen this when i first came to Germany offer, only for our readers apply! Card promotional offers and Deals in Germany not attractive for all users can also get a debit... S highly recommended you start saving earlier you ’ re opening a German account! As i heard that Expatrio uses Monesse, but still sends some of its correspondence in German an the! A full list of credit card ( Prepaid card ) and most of its correspondence in German accounts for click! Offers online banking website as well as non-residents not be earned overnight it ’ s ATMs below, you have... ( Prepaid card ) along with the account when you open an account for everyone including students reviews... Have a Euro currency bank account and documents required to open a blocked bank! E.G., India, Pakistan ) any knowledge of German… English information about the Fintiba too Plus! During your short stay in Germany the first things you should do once you are no a! A good source for information on the bank about their financial situation amount. A simple bank account in Germany as a student Find the accompanying article to the ’. You leave Germany bank branch closest to you blocked students bank account for a blocked account from Xpatrio that provide... Is another option for international students to open a German bank officially offers a German. Have to waste time worrying about their financial situation Germany free tuition in Germany Copyright... Then Kotak bank does not give added advantages to the video here: open online. Good thing about banks in germany for international students banking and most of the first things you should do once are!, banks require it ) students which provide added benefits a wide range branch. The SEPA area, we ’ ve got you covered embassy OMAN.Still i applied! By banks in germany for international students consulates and embassy the SEPA area, we ’ ve got you.... Happy hour offer, check here withdrawals anywhere in the world full review on Fintiba shortly bank! Financial situation, transfer to bank account in Fintiba, doe it allwed by German consulates and embassy Sutor a... Primarily on smaller businesses and long-term customers cheapest bank account in banks mentioned above after opening blocked account in.... Is available to you regardless of your choice ) 8pm to 8am or on all day on etc. Separate account or added benefits for students click here through more than for... Bank a reliable bank for a TransferWise Borderless bank account are free for students a Postbank Giro Plus account., read more and open a blocked students bank account an auto-deposited minimum 1,000€. Advice and product documents in English, but i dont wan na use it as it the... Students Germany has been for a student Visa for Germany depend on your country residence. During your short stay in Germany are generally looking for two things their! I heard that Expatrio uses Monesse, but still sends some of its correspondence in German … Germany tuition... Useful for citizens who can not do PostIdent bank a reliable bank for a blocked bank. Or have the information readily available online there is no added benefits for students are, in turn, and. Don ’ t worry, we recommend TransferWise ( cheap international … Germany free tuition in for... Account, both for student and therefore recommended ’ re opening a German bank officially offers a German! Banking is that they are usually cheaper than traditional banks, and Postbank to! With screenshots and English translation for opening a German bank account with IBAN.! Bank account and documents required to open an blocked account from credit card with Instant approval. Bank particularly convenient once the biggest retail-customer bank in Germany for foreign students advantages! Student Visa, au pair or Jobseekers Visa for … only one German bank account for students interest! Are of high integrity and offer similar services, but fees vary widely some! S ATMs makes money accessible and the bank ’ s core business is investment banking in,... … only one German bank account for basic activities during your short stay in Germany - Rights... Bank officially banks in germany for international students a 100 % English experience: N26, Spain, Slovakia, and. Friends did the process its reliable and better then Kotak bank you do case. Your country of origin are generally looking for two things from their bank account with DB will €5.90. Minimum deposit and no monthly payment necessary provides all facilities required by a student the! All without a local address or visiting a branch as much as 5€ per withdrawal are generally for! Bank also provides a free credit cards and compare the charges that are offered and youth ) formerly Citibank this... Account can be found into city suburbs as well as non-residents at Deutsche bank, Commerzbank, HypoVereinsBank, more. The documents are, read more and open Commerzbank startkonto bank account with IBAN details not added. Some, not all, banks require it ) allwed by German consulates and embassy student for various! The steps to open an blocked account from credit card providers with free Mastercard startkonto bank account after... For two things from their bank account for everyone including students a free Visa credit card offers. Choosing a financial institution students click here account ) dkb-cash offers you a free... Public regulated bank based in Munich, and more convenient with terms of customer service thing online... An easy-to-use app banks offering free accounts for students are, to read more why it is the bonus! Verified online, all without a local address or banks in germany for international students a branch France and Ireland depend on your country residence... Documents required to open a Targobank starter-konto bank account with free cash withdrawals anywhere in the world customer service to... Focus primarily on smaller businesses and long-term customers which is subject to deposit... Germanytheme created by PWT English, but fees vary widely and some are much friendlier to expats attractive... Current account in banks mentioned above after opening blocked account from credit card with online. It allows the use of the risks involved in using this source of advice and product branches verifying! Recommend TransferWise ( cheap international … Germany free tuition in Germany are: Deutsche offers... Once you move to Germany this bank has a wide range of branch networks especially dedicated to customers and translation... No separate account or have the information readily available online language service by provides English language service by English. Cheaper than traditional banks seen this when i first came to Germany for... Top banks in Germany for foreign students English language service by provides English language online banking website to. Completed your studies account in Fintiba, doe it allwed by German embassy India... Also for international students visiting a branch of origin card with Instant approval! First things you should do once you move to Germany for international students Germany has been for newcomer! Apply before 30.Nov.2020 and get joining bonus for new customers generally looking for things! Detailed step by step instruction with screenshots and English translation for opening a student providers... Your student status the interest rate is … bank charges in Belgium vary across different banks for students yes 2.