Bafög and other Student Loans in Germany. What should you do in case of loss of card? when you open an account online at particular times (e.g. So, sooner or later, you will need to open one, so it is better to do so as soon as you move to Germany. Here are a few terms you should know when it comes to banking in Germany: Other articles you might be interested in: Free E-Book: The Essential Guide to Studying in Germany for Free. As a rule German banks … Students in Germany are generally looking for two things from their bank account: A bank with an easy-to-use app. Free withdrawal in any  of the 25,000 SparkasseATMs, Free cash withdrawal in European countries with euro currency with the credit card, Free Visa credit card Young (if monthly deposit is €500). They are a good source for information on the services and goods that are offered. For investing, studying or working abroad. It offers a free Girocard bank card and a free Girokonto if you maintain an auto-deposited minimum of 1,000€ per month. Requires a smartphone to use the account. Germany Free tuition in Germany not attractive for all foreigners. Features of Targobank starter-konto bank account for students are, To read more and open a Targobank Starter-Konto for students click here. Features of DKB Cash  bank account for students: Postbank also provides a good service bank account and is free for students of any age. Since it has branches in all cities, you can verify your identity at the bank branch closest to you. As one of the biggest banks in Germany, this bank is highly-regarded for its customer service, accounts, and site dedicated to English speaking customers. However, it provides all facilities required by a student and therefore recommended. It provides a free bank account for all users. How to open a bank account in Germany for students The process for opening a bank account if you’re studying in Germany is much the same as for travellers and expats. Initial deposit (the minimum depends on the bank of your choice). I am opening through Fintiba. An investor must be aware of the risks involved in using this source of advice and product. In Germany, there is a ‘three-pillar’ banking system consisting of private commercial banks, public savings banks (Sparkassen and Landesbanken), as well as cooperative banks (Genossenschaftsbanken). The top banks in Germany are: Deutsche Bank. This bank has a large network of ATMs, which makes money accessible and the bank particularly convenient. Recommended if you want a simple bank account for basic activities during your short stay in Germany. Only one German bank officially offers a 100% English experience: N26. Most German banks are of high integrity and offer similar services, but fees vary widely and some are much friendlier to expats. Volkswagen Young Giro. N26. Apply for DeutscheBank Students bank account. It is a public regulated bank based in Munich, and as so it offers private and commercial customers a variety of services. Problems in opening an account for citizens who cannot do PostIdent (e.g., India, Pakistan). Commerzbank has a wide range of branch networks especially dedicated to customers. Selecting a Bank • German Bank Accounts. Expatrio supports international students to easily relocate to Germany by offering a Blocked Account and the essential Health Insurance coverage for visa application and stay in Germany. Features of 1822Direkt Girokonto Studenten bank account for students. The international banks in Berlin, Hamburg, Munich, Cologne, Frankfurt am Main, Essen, Stuttgart, Dortmund, Düsseldorf, Bremen, Hanover, Leipzig Germany can be classified according to their country of provenance, Most of them are based in the United Kingdom, but the number of French banks is also noticeable, while Swiss and overseas banks … We publish news about the latest German higher education system changes and education policy updates, as well as a vast amount of informational content, articles, and research about studying in Germany for international students. from 6pm  to 8pm, or 8pm to 8am or on all day on weekends etc,). Proof that you are a student (if you’re opening a student account). Earlier they had Postbank offers Happy Hour offers which provides various added benefits such as cash bonus for account opening, Free VISA card etc. Free to withdraw cash at over 9,000 ATMs of, (DB, Sparkasse, Postbank, HVB) and in more than 850 Postbank Finance Centers and in many branches of Deutsche Post. DeutscheBank is the most well known and most used account by students, mainly because they have English speaking customer service and a fast opening of the account. The KfW Student Loan is a low-interest loan (until 31 December 2021 0.00% if your loan is in the disburse­ment phase), which is used to cover your living expenses. Studying-in-Germany.org is the largest information portal about studying in Germany for foreign students. GLS Bank, Bochum Hamburg Commercial Bank (formerly HSH Nordbank), Hamburg / Kiel (dual seat) So make sure to close the account when you finish your university studies to avoid incurring the charges. Yes, please check the page on blocked accounts. Zero fees. So is it possible creating a current account in banks mentioned above after opening blocked account from Xpatrio. From quick review official website of German embassy in India and Pakistan list Fintiba as accepted bank account. To verify your identity with PostIdent, you will be required to download a verification sheet from the bank’s website and submit it at the post office, along with your passport. Aiming towards regional economic development, these banks have large branch networks which can be found into city suburbs as well as rural areas. Also, DKB makes it easy to set up a German bank account for foreigners since they have a clear business model. Open an online Germany bank account and documents required to open a German Bank account. Now owned by Deutsche Bank, this bank was once the biggest retail-customer bank in Germany. The bank’s core business is investment banking. Therefore, make sure you qualify as a student for the bank. The cheapest Postbank Girokonto costs 1.9€/month! Open a free German bank account with free MasterCard. Therefore, you can still maintain the bank account after you have completed your studies. It provides a free VISA credit card with free cash withdrawals anywhere in the world. But, don’t worry, we’ve got you covered. This is available to you regardless of your citizenship and country of residence. You can secure everything online and without any knowledge of German… Some banks, credit unions and online lenders offer student loans for international students, but they often require you to have a co-signer who is a U.S. citizen or permanent resident. BayernLB, or Bayerische Landesbank, is one of the six Landesbanken or state-owned banks in Germany. Special Offer, only for our readers: Apply before 30.Nov.2020 and get joining bonus of €25. This bank fully owns DKB (Deutsche Kreditbank), which is perfect if you’re aiming for lower fees and want to do all your banking online. Your valid passport and current German residence permit. For most international students Germany has been for a long time an opti… Therefore, you can have a Euro currency bank account even after you leave Germany. Click here for detailed information on how to open a blocked students bank account and comparison of different blocked account. The German commercial and savings banking system is an efficient sales machine, lacking the strong controls or serious supervision from central authorities and happily unencumbered by any but the most minimal consumer protection laws. Bank account for students and trainees in Germany. You can sign up and get verified online, all without a local address or visiting a branch. Just like the majority of expats, you must also be having questions when it comes to the procedure of opening a German bank account or even how banking in Germany works. Wish I had seen this when I first came to Germany. Online and mobile banks are also becoming pretty common in Germany by the day, they include the likes of DKB Cash, 1822direkt, N26, O2 Banking, and Santander, among others. Apply for Free credit card before 19 April 2015 and get joining bonus of €30. The number of branches and their location may be an important factor in choosing a financial institution. One can deposit in Germany through more than 6,000 supermarket checkouts or via bank transfer. Deutsche Bank is another option for international students to open a block account. What these banks have in common is that they are all part of the Cash Group, meaning ATM withdrawals are free if you bank with them and use their ATMs. Required fields are marked *. Read more why it is the best account for a newcomer foreigner in Germany. Age: Some banks provide a bank account for students only under a certain age (e.g under 18, under 27, etc.). However, the facilities provided are more than adequate for a student and therefore recommended. Other ATMs may charge you as much as 5€ per withdrawal. So, if you cannot open an online account because your passport is not accepted for PostIdent, this is the best option for international students. Apply by Sept 30, 2014 and get €25 joining bonus. Sitting squarely in the heart of Central Europe and home to over 80 million citizens, it isn’t hard to see why Germany … The requirements for obtaining a student visa for Germany depend on your country of origin. DKB is the best German bank, if you are comfortable with doing all your banking online and you don’t mind to sign up for your account in German. Bank charges in Belgium vary across different banks for the various services that they provide. Unfortunately. Commerzbank Weekendbonus - €100 + 8k miles joining bonus, Free Advanzia Mastercard Gold Credit Card – 2020 Review, (Exclusive Deal) Gebuhrenfrei Mastercard Gold - €25 joining bonus, Hanseatic Bank - €30 Joining bonus free Credit card, Barclaycard New Visa Offer : €25 joining bonus for free Credit card till Aug 2014, Free Worldwide cash withdrawal using Mastercard  (5 times per month for a free account), Smartphone settings (lock card / unlock with just one click), The account opening is the fastest in Europe – in just 8 minutes via Smartphone or online. A worthy option, I’d say! To increase your chances of getting admitted at a Germany university, learn more about the requirements for international students, and best prepare yourself for studying and living in Germany, check out our FREE guide for international students. Moreover, it one of the few websites with provides English language service by provides English language online banking website. Studying in the UK is expensive for both domestic and international students, so it is important that you choose a good student bank account that can help you to maximise your money. However, it does not give added advantages to the above bank accounts. Is Sutor Bank a reliable bank for a blocked account? Germany has become a popular destination for international students, which is proven by the fact that it has the third largest international student population in the world. Although the question of whether you really need to open a bank account might arise, let us tell you that a German bank … Government of Germany and Universities in Germany offer scholarships to international students and local citizens every year and we have listed here some best PhD Scholarships in Germany, Masters Scholarships in Germany… Advantages of N26 bank account for students. So, to do so, you might need to use a webcam, email verifying code, or use PostIdent, which is an approved substitute used to identify your identity, with the fee paid by the corresponding online bank. 8 Steps to Study in GermanyHow To Apply To Study in GermanyGerman Education SystemRequirementsUniversities in GermanyInternational ProgrammesFinancing Your StudiesGerman Student VisaGerman Health InsuranceGermany Blocked AccountLearn German GuideGerman CitiesCost of LivingGerman Culture. In order to withdraw cash from these types of banks, the online bank usually teams up with a traditional bank, so customers can use their cash machines. Also note that if you are doing an internship or under training but still registered with a university, you will be considered as trainee student and most banks provide the same benefits as for students. This is because it is free of charge and there are added advantages or benefits provided for a student which you may be missing out on in your Deutsche bank blocked account Sperrkonto. 1. You can find an overview of the countries for which a student visa is or isn’t required on the Foreign Federal Office’s website. Having a bank account in Germany is very practical. Powered by WordPress.org. ING DiBa provides a free bank account for everyone including students. Always read the fine print or look out for such charges. What makes it interesting is the joining bonus for new customers. Now open to residents of Greece, Spain, Slovakia, France and Ireland. 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