Girokonto — Checking Account

Girokonto (checking account) is the essential first financial step in Germany. Without it, you can't receive salary, pay for housing, or get insurance. Opening takes 1-3 days with an online bank or up to a week with a traditional bank. Deposits up to €100,000 are protected by law (Einlagensicherung) [1].

Why This Matters for Immigrants

Girokonto is the entry point to the entire German financial system. Unlike many post-Soviet countries, here:

• Salary is transferred only to a bank account (cash from employer is an exception)
• Rent is paid via Lastschrift or Überweisung, not cash
• No account = inability to function normally

Trust in Banks

The German banking system is structurally different from post-Soviet systems: deposits up to €100,000 are protected by law (Einlagensicherung) [1], banks are regulated by BaFin (Federal Financial Supervisory Authority) [2]. The system has been working predictably for decades.

What You Need to Open

Document	Note
Passport or Aufenthaltstitel	Foreign passport works
Anmeldung (registration)	Some online banks open accounts without it
Proof of income	Not always required

Main Features

Feature	Description
IBAN	Account number for transfers (format DE + 18 digits) [3]
Girocard (EC-Karte)	Debit card for payments in Germany
Kreditkarte	Credit card (often optional, sometimes needed for car rental)
Lastschrift	Direct debit — standard for rent, insurance, subscriptions
Dauerauftrag	Scheduled regular transfers

Selection Criteria

Criterion	What to Look For
Cost	€0–10/month; online banks are often free [4]. Free accounts typically require €700–1,000/month in deposits.
Branch availability	Important if you need to deposit cash or resolve issues in person
Support language	Online banks more often have English interface
Cards	Girocard accepted almost everywhere; Visa/Mastercard needed for online purchases
Cash withdrawal	ATM network without fees

Typical Options

Bank Type	Characteristics
Online banks (DKB, ING, N26)	Free, quick opening, English interface
Traditional (Sparkasse, Volksbank)	€3–10/month, have branches, easier with cash [4]
Mobile banks (N26, Revolut)	Convenient app, may have feature limitations

Right to Basiskonto

Every person legally residing in Germany has the right to a basic checking account (Basiskonto) [5]. If a bank has refused to open a regular account, you can apply for a Basiskonto — the bank is obligated to open it.

What to Do

1. Choose a bank based on your criteria (cost, language, cash needs)
2. Submit application online or at a branch
3. Complete identification (VideoIdent online or PostIdent at post office)
4. Receive card and PIN in separate letters
5. Set up Lastschrift for rent and mandatory payments

This Decision Is Reversible

Choosing a bank is a two-way door. If the bank doesn't work out, switching is not hard. Don't spend weeks choosing the "perfect" one — open an account and start functioning.

FAQ

No Anmeldung, no account — how to break the catch-22?

Traditional banks (Sparkasse, Volksbank) require a Meldebescheinigung (registration certificate) to open a Girokonto. But to rent an apartment you need a bank account, and to register you need an address. The workaround: open an account at a digital bank that accepts applications with a passport alone, without Anmeldung. After registering your address, you can open a traditional bank account if needed. Under the ZKG law, any bank must open a Basiskonto (basic account) for anyone legally residing in the EU [5].

My Girokonto application was rejected without explanation. What can I do?

German banks are not legally required to explain why they reject a standard Girokonto application. Common hidden reasons: no SCHUFA history (new immigrants have an empty file), nationality from a high-risk country under Geldwäschegesetz (Anti-Money Laundering Act), automated scoring. Four steps: (1) request a manual review; (2) apply at a different bank; (3) request a Basiskonto — if refused, the bank must provide written justification; (4) if Basiskonto is also refused — file a complaint with BaFin (free hotline 0800 2 100 500).

No SCHUFA history — banks keep rejecting me. What now?

SCHUFA collects credit data only within Germany. New immigrants have an empty file — not a bad score, but no score at all. Banks with automated checks (DKB, ING, Comdirect) frequently reject these applications. Solutions: (1) apply at banks that do not check SCHUFA; (2) request a Basiskonto, which cannot be refused based on creditworthiness [5]; (3) after establishing residency, request your free annual SCHUFA Datenkopie (data copy) to verify your file is clean. A mobile phone contract or small installment purchases start building SCHUFA history.

VideoIdent failed — my passport is not accepted. What now?

Not all foreign passports are supported by VideoIdent systems (IDnow, WebID) — they follow BaFin regulations requiring biometric passports. The electronic Aufenthaltstitel (eAT) alone is not accepted for video verification. Alternatives: (1) PostIdent at a Deutsche Post branch (accepts a wider range of documents); (2) verification through a notary (Notar); (3) in-person visit to a bank branch. Both documents — passport and Aufenthaltstitel card — will be needed.

My landlord or employer refuses my non-DE IBAN. Is this legal?

Refusing a valid SEPA IBAN (e.g., starting with LT or BE instead of DE) violates EU Regulation 260/2012, Art. 9 — all SEPA IBANs are equal for euro payments. In practice, many German companies still refuse. Available remedies: (1) written notification to the counterparty about the EU regulation violation; (2) report the case at acceptmyiban.org; (3) file a complaint with the Bundesnetzagentur. Workaround: open an account at a bank that issues a DE-IBAN.

Sources

1. Bundesverband deutscher Banken — Einlagensicherung https://www.bankenverband.de/themen/einlagensicherung/

2. BaFin — Bundesanstalt für Finanzdienstleistungsaufsicht https://www.bafin.de/

3. Deutsche Bundesbank — IBAN Structure https://www.bundesbank.de/de/aufgaben/unbarer-zahlungsverkehr/serviceangebot/iban-regeln/iban-regeln-602676

4. Stiftung Warentest — Girokonto Comparison https://www.test.de/Girokonto-im-Vergleich-5044792-0/

5. Zahlungskontengesetz (ZKG) — Right to Basiskonto https://www.gesetze-im-internet.de/zkhg/