Banking in Germany 2026: opening an account as a foreigner

Opening a bank account in Germany

Most banks ask for your Anmeldung (proof of address from the Bürgeramt), passport or ID, and German tax ID (Steuer-ID); some also want proof of income or a residence permit. Traditional providers — Deutsche Bank, Commerzbank and the local Sparkassen and Volksbanken — usually expect a branch visit and run a SCHUFA credit check, which new arrivals often lack. App banks such as N26, bunq and Revolut open in about fifteen minutes with a passport and a video ID check, and generally don't need an Anmeldung upfront.

If a bank turns you down, note that anyone lawfully resident in the EU has a legal right to a basic payment account (Basiskonto) under the Payment Accounts Act (Zahlungskontengesetz), regardless of SCHUFA. A Basiskonto handles transfers, direct debits and a debit card, though it need not include an overdraft or credit card. BaFin runs an official account-comparison portal (Kontenvergleich) to compare fees.

Multi-currency, crypto and moving money

Most residents pair a local euro account (for rent, utilities and salary) with a multi-currency app like Wise or Revolut for cheap FX. Germany is inside SEPA, so euro transfers across the EU are fast and low-cost. Crypto on-ramps run through EU-regulated exchanges under the EU's MiCA rules; German banks vary in how they treat crypto transfers, so confirm your bank's policy before moving funds.

At a glance

Where it fits in a borderless plan

Germany's SEPA euro banking, fast fintechs and a guaranteed basic account make it a solid EU base, even if the SCHUFA and paperwork can feel bureaucratic at first. Banking is one pillar of a borderless setup. Line it up with where you are tax-resident, your Bitcoin self-custody plan, and the rest of daily life — healthcare and schools. Compare countries in our banking-abroad guide.