Banking
Germany — Banking: Opening an Account
Every person legally residing in the EU has the right to a Basiskonto (basic payment account) under Section 31 of the Zahlungskontengesetz, regardless of nationality. Traditional banks (Deutsche Bank, Sparkasse) typically require an Anmeldung (address registration) and may request a Schufa credit report or proof of income for credit-related products, but neobanks (N26, bunq, Wise, Revolut) don't check Schufa and several — N26, bunq, Wise, Revolut — allow account opening without an Anmeldung, via a fully digital, webcam-based signup that can take as little as 8-10 minutes.
VerifiedGovernment / official sourceZahlungskontengesetz (Payment Accounts Act) / how-to-germany.comLast reviewed: 2026-07-20
Key facts
- Everyone legally resident in the EU has a statutory right to a Basiskonto (basic payment account) under Section 31 of the Zahlungskontengesetz.
- Traditional banks typically require Anmeldung (German address registration) and may check Schufa or request income proof for credit products.
- Neobanks (N26, bunq, Wise, Revolut) don't check Schufa, and several let you open an account without an Anmeldung.
- Digital-first signup (N26, bunq) can take as little as 8-10 minutes via webcam verification.
Steps
- Choose account type — Neobank for speed/no-Anmeldung-needed, or traditional bank (Sparkasse/Deutsche Bank) for in-person service and wider merchant card acceptance.
- Complete identity verification — Webcam-based ID check for neobanks, or in-branch verification for traditional banks.
- Provide required documents — Passport/ID; Anmeldung if using a traditional bank or a neobank requiring it.
Timelines
- Neobank signup (N26, bunq): 8-10 minutes
Required documents
- Valid passport or national ID
- Anmeldung (address registration) — required by most traditional banks
- Mobile number and email for digital verification
Common mistakes
- Assuming an Anmeldung is required to open any German bank account — several neobanks (N26, bunq, Wise, Revolut) do not require it.
- Choosing N26 expecting a standard Girocard — N26 issues a Mastercard instead, which some German merchants don't accept.