Types of Bank Accounts in Germany
Girokonto
It is a current account, which is the standard type of bank account in Germany, used to receive pay-checks as well as pay bills. German banks tend to offer both, general current accounts as well as specialized accounts (for students and youth).
Sparkonto
Savings account, which can be opened at the same time you open a Girokonto, and you can use it to save money and earn interest. This type of account can be opened by both German residents as well as non-residents.
Documents Required for Opening a Bank Account
A copy of a valid passport or photo ID
A copy of your visa or residence permit
City Registration as Proof of Address
Evidence of income/employment
Proof of University enrollment (for students)
SCHUFA credit rating
For more details please refer to this link
List of Banks
Deutsche Bank
Commerzbank
HypoVereinsbank (UniCredit Bank AG)
BayernLB, or Bayerische Landesbank
Norddeutsche Landesbank
Landesbank Baden-Württemberg
KfW Bankengruppe
ING-DiBa
DAB BNP Paribas, Munich
N26
Sparkasse
Volksbank
Free Accounts for Students
N26
Advantages of N26 bank account for students
Free modern checking account
Free Mastercard Credit Card
Free Worldwide cash withdrawal using Mastercard (3 times per month for a free account)
No Credit score checking or recorded
Smartphone settings (lock card / unlock with just one click)
English website
Transfer in real time with Transferwise
The account opening is the fastest in Europe – in just 8 minutes via Smartphone or online
Problems with the N26 bank account
Requires a smartphone to use the account.
Problems in opening an account for citizens who cannot do PostIdent (e.g., India).
For more information refer to the link here
Volkswagen Young Giro
For students between 18 and 27 years of age, Volkswagen bank provides a girokonto with the following services
Free account management
Free Visa card and Free cash withdrawal using VISA card
€50 starting bonus ( at least 2 salary deposits in the first months, regular use of bank account)
For students between 18 and 27 years of age only.
For details refer here
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