German Bank Account (or Girokonto in German) is opened when you are moving from a foreign nation to Germany or those intending to pay domestic bills, like phone or medical insurance, by an electronic money transfer system. It is an easy and quick process, not involving much hassle. One can open a current account or a saving account as per the need of the customer.
While opening a German bank account or what is known as Konto eröffnen in German, you do not need money but only your passport and your police registration form or the Polizeiliche Anmeldebestätigung . In case of students, student account can also be opened and there is a negligible or no transaction fee imposed. Instead the student must bring his (or her) Humboldt student ID or Studentenausweis .
Charges for opening a German bank account can be varied depending upon the type of banking institution. However, offshore or non-resident German bank accounts may be different from the former. The charges are quite hefty and might also require depositing a minimum opening balance.
After opening a German bank account successfully, the customer is provided with bank checks or Geld abheben , a card or Kundenkarte (credit and cash card), bank routing number or Bankleitzahl and also a unique account number or Kontonummer . Depending upon the customer's desire, the bank account statement or the Kontoauszüge will be mailed or left for individual pick-ups at the nearest customer branches.
After opening an account, you can also transfer money from a foreign bank, provided there are provisions of such banks to transact money within them in Germany. Fee charged for transferring money from German Bank to foreign or vise versa are varied depending on:
- The particular bank it transferred to or from
- The amount or money transferred
- The chosen speed of transaction
There are also provisions for traveler's check with an accompanying surcharge, VISA or Master Card facility, corresponding ATM machines, etc. However in order to deposit money (in cash or check) in the account, you will require a deposit slip or
Einzahlung .
