At a glance
- N26 Standard – Best bank account in Germany.
- DKB Girokonto – Best for established expats.
- ING Girokonto – Also great for established expats.
- Commerzbank Girokonto Basic – Best bank account at a branch bank.
- Santander BestGiro – Also a great bank account at a branch bank.
German residents have a wealth of mobile banking options including: National German banks such as Deutsche Bank, Commerzbank, and Volkswagen bank. Newer online-only banks include bunq, N26, Wise, Revolut, and DKB. Many offer several language options, including English.Among these 200 private banks, one of the top banks in Germany is Deutsche Bank, at rank 1. Second-tier: The second tier of banks is publicly owned savings banks. There are 400 publicly-owned savings banks.
Can I open a bank account online in Germany : To open an online bank account in Germany, you will also be required to verify your identity. 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.
Is BUNQ or N26 better
Overall, Bunq is suitable for individuals seeking advanced digital banking features and a sustainable approach, while N26 caters to customers looking for a straightforward banking experience with additional services and a range of account options.
Which bank is best in Germany for foreigners : Expat-friendly banks
- bunq – They speak 7 languages. They accept many passport types.
- Commerzbank – They have basic online banking in English.
- Deutsche Bank – Online banking, customer service and some documents are in English.
- Monese – They speak 14 languages.
- N26 – They speak 5 languages.
- Wise – They speak 14 languages.
They both have good features. N26 is cheaper but offers more features. And the premium options of N26 are more expensive than the premium options of Revolut.
Leading banks in Germany 2020-2021, by total assets
Deutsche Bank had the largest amount of total assets among German banks as of 2021. Other leading institutions included the DZ Bank and KfW.
Is N26 really free
N26 Standard—your free bank account
Get a free bank account and easily manage your money right from your smartphone. You'll get intuitive features like N26 Insights that give you more control over your finances, and push notifications for every transaction. Plus, enjoy 3 free ATM withdrawals per month within Germany.Cons
- 1.7% charge for withdrawing cash abroad with the basic account.
- No bank branches.
- No telephone support and reduced hours chat support.
- No guaranteed financial protection with Brexit.
- No standing orders.
- No overdraft facility.
Thanks to our European banking license given by the Dutch National Bank (DNB), all deposits from verified users are automatically insured up to €100,000 by the Dutch Deposit Guarantee Scheme (DGS). In the unlikely event of anything happening to bunq, you can rest assured your money is safe.
Is N26 better than Commerzbank N26 is comparatively a better option than Commerzbank when it comes to everyday banking, but if you are looking for investing options, then Commerzbank is the best German bank!
Is my money safe with N26 : The security of your money is always our top priority at N26. And not only is your bank account protected up to €100,000 by the German Deposit Protection Scheme, but it also comes packed with a series of intelligent features that keep your funds safe. For more information, check out Security at N26.
What is the N26 controversy : Controversies
- Account closures. In October 2022, it was reported that over 100 customers had their N26 bank accounts closed unexpectedly and without prior notice.
- Anti-Money laundering compliance issues.
- Business strategy.
- Security incidents.
- Works council.
Why is Revolut better than N26
Similarly, when it comes to taking out cash abroad N26 will offer you a charge of 1.7% on all transactions, while Revolut offers free transactions up to €200 a month with a 2% charge added after this limit. This is far better than the current 3-4% offered by most Irish banks.
you can use your card to purchase on line or in the shops and withdraw cash from an ATM which accepts the cards from Master Card or Maestro. Remember.. the amount of cash you spend or withdraw needs to be on your sub account. Bunq does not offer credit.Overall, Bunq is suitable for individuals seeking advanced digital banking features and a sustainable approach, while N26 caters to customers looking for a straightforward banking experience with additional services and a range of account options.
What is the downside of Revolut : On the downside, it doesn't offer popular asset classes like mutual funds, bonds or options.. Research and educational tools are very basic, and customer support only answers some basic questions. Also, Revolut has had some quite negative news coverage recently.