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Free accounts for newcomers compared →
N26, Wise and classic banks: fees, English, opening before Anmeldung.
Choosing an Account: the Basic-Account Right and Free Options
A bank account in Germany is a legal right (ZKG) — even without registration or SCHUFA. Banks differ in fees, English support and opening speed.
✓ Verified: 15/08/2026
WHAT TO DO
› Details and tips
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Max recommends:
My combo: an online bank for daily use plus a free Sparkasse account for ATMs and cash deposits. Covers everything.
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Lea recommends:
Free often means free from 700–1000 € monthly incoming. Read the footnote — otherwise a 5–8 € fee appears.
FREQUENTLY ASKED QUESTIONS
Branch bank or online bank? ▾
Deposit protection of 100 000 € is identical. The difference is cash: deposits at online banks run via retail partner networks or cost fees.
Must my salary go to a German IBAN? ▾
No — IBAN discrimination is banned EU-wide. In practice payroll and landlords still want a DE IBAN; arguing costs more than a 10-minute account opening.
Rejected for missing SCHUFA history — is that legal? ▾
For regular tariffs, yes. But the Basiskonto under § 31 ZKG must be opened by any bank for anyone legally in the EU — a written refusal can be challenged at BaFin.
Do I need my address registration first? ▾
Online banks often open accounts with a passport and video identification before your Anmeldung. Branch banks usually want the Meldebescheinigung.