Best Bank for Expat Moving to Germany
Germany has some of the strictest banking requirements in Europe — traditional banks often require an Anmeldung (registration certificate) and in-person appointment. Digital banks make it much easier.
Top picks
N26
Founded in Berlin — integrates perfectly with the German banking system. Open with your Anmeldung, free Standard plan.
Revolut
Open before you arrive with no Anmeldung required. Essential bridge account during your first weeks in Germany.
Wise
Best for receiving salary in EUR or converting from GBP/USD. Belgian IBAN accepted by German employers.
Bunq
The Anmeldung challenge
In Germany, the Anmeldung is your official registration certificate — proof that you have registered your address with the local Einwohnermeldeamt (residents' registration office). Most traditional German banks — Deutsche Bank, Commerzbank, Sparkasse — require an Anmeldung before they will open an account for you.
Getting an Anmeldung requires finding permanent accommodation first, which often requires a bank account for the deposit. This circular dependency is one of the most common frustrations for expats arriving in Germany. Digital banks break the cycle.
Digital-first approach for Germany
The solution is straightforward: open a digital bank account before you arrive, use it while you secure your accommodation, and then open a local account once you have your Anmeldung.
N26 — founded in Berlin — is particularly well-suited to Germany and does require an EU address, but will accept an Anmeldung address once you have it. Revolut and Wise work without any German documentation at all.
Top picks for Germany
1. N26 — Founded in Berlin, N26 is the gold standard for digital banking in Germany. It integrates seamlessly with the German banking system (SEPA transfers, direct debits, the standard Mastercard payment network). Once you have your Anmeldung, opening an N26 account is the smoothest digital banking experience in Germany. The free Standard plan covers 99% of expat needs.
2. Revolut — Use Revolut before and during your Anmeldung process. Open from anywhere, works immediately in Germany, no documentation required beyond your passport. The Standard plan is free and gives you a SEPA EUR IBAN.
3. Wise — If you are receiving salary or payments in EUR (or converting from GBP/USD), Wise gives you the best exchange rates. A Wise EUR account (Belgian IBAN) is accepted by most German employers for salary payments.
4. bunq — The only fully licensed EU bank you can open without an Anmeldung. If deposit protection is important to you from day one, bunq is the only option that provides it before you have registered your German address.
Step-by-step guide
- Before leaving for Germany: Open Revolut (and Wise if you are receiving money in multiple currencies). Activate your virtual card.
- Arrive in Germany: Use temporary accommodation (hotel, Airbnb, or a friend's address) while apartment-hunting. Use Revolut and Wise for all daily spending.
- Secure accommodation: Pay your Kaution (deposit — typically 3 months' rent) via bank transfer from Revolut or Wise. Many landlords accept SEPA transfers from any EU IBAN.
- Register (Anmeldung): Once you have a permanent address, register at the Einwohnermeldeamt within 2 weeks (required by law).
- Open N26: With your Anmeldung and EU address, open your N26 account for a proper German banking experience.