Generally, international students come to Germany with blocked accounts (sperrkonto). Most of the blocked accounts are used only to get a visa but do not provide additional services, e.g., debit cards, online payments, etc. So, international students always search for another bank account to get money from blocked accounts, access additional services like online payments or credit cards, etc.

Because of only a few large banks present in Germany, students have only a few options to open student accounts. Most of the banks in Germany exist regionally and on a microscale. Only a few banks have their network across the country, e.g., Deutsche Bank, Commerzbank, Post bank, and Sparkasse.

Types of banks in Germany:

There are four types of banks in Germany:

1. Public savings banks
   • A public savings bank is the Sparkasse.
2. Private commercial banks
   • Private banks are Deutsche Bank, Postbank, Commerzbank, Dresdner Bank, and Unicredit Bank AG (HypoVereinsbank). These four banks are the largest in Germany and called cash groups.
3. Cooperative banks
   • Cooperative banks are Volksbanks and Raiffeisenbanks, Sparda-Bank, and PSD Bank.
4. Virtual Banks (Direct banks)
   • Direct banks are bunq, N26, ComDirect, and DKB. These types of banks only exist virtually and offer only online banking without physical branches and ATMs. Direct banks also offer student accounts, but their bank cards can only be used on selected ATMs.

Private banks are located mostly in big and small cities, whereas cooperative and public savings banks are almost everywhere. For example, Sparkasse is present in the whole of Germany, even in remote villages.

Top-4 bank accounts for students offered by the public and private banks:

Top-4 most popular bank accounts for students and trainees in Germany are ‘startkonto‘ offered by Commerzbank, ‘das jungeskonto’ provided by Deutsche Bank, ‘giro plus‘ offered by Post bank, and ‘schülerkonto’ offered by Sparkasse.

Comparison of bank accounts for students

Here is the comparison of student bank accounts offered by public and private German banks.

*Cash Group is a union of the four largest German private banks and their subsidiaries. **After arrival in Germany.

Top-4 student accounts offered by direct banks:

Popular bank accounts for students offered by direct banks are ‘girokonto student’ by ING, ‘girokonto‘ by Comdirect, ‘girokonto’ by N26, and ‘DKB cash‘ by DKB.

Comparison of bank accounts for students:

Here is the comparison of the best four student accounts offered by direct banks.

How to open a German bank account?

You need the following documents to open a student account in any German bank:

• City registration
• Valid visa/Residence permit
• Passport
• Admission letter/student card

Visit a public or private bank personally to open a student account. Apply online to open a student account in a direct bank.

FAQ about bank accounts for students in Germany: