Choosing the best bank in Germany can be confusing – fees, bonuses, cards, apps, paperwork. In this guide, you’ll find the top accounts that actually make banking easier (and more rewarding) with high welcome bonuses, cashback, and English-friendly apps.
You’ll also learn what matters most when opening a bank account – from fees and bonuses to cards included with your bank account. This list is updated regularly as new offers appear, so bookmark it or subscribe to the Smart Living newsletter to get the best offers in your inbox, along with shopping deals and money-saving tips, as soon as they appear.
Note: this article contains affiliate links, which are marked with *.
In This Guide
Types of Bank Accounts in Germany
Before comparing the best banks in Germany, it helps to understand the main account types that exist here:
Girokonto (current account): This is your everyday account for incoming and outgoing payments – salary, rent, transfers, and card spending. Almost everyone in Germany has one or more.
Tagesgeldkonto (instant-access savings account): Used mainly for saving money separately from your current account. You can withdraw anytime, but it usually doesn’t come with a card for daily spending. Many people keep their emergency fund here to earn interest while still having quick access.
Festgeldkonto (fixed-term savings account): This is where you lock money away for a set period – usually from a few months to a few years – in exchange for a higher interest rate. You can’t access it until the term ends, so it’s best for funds you won’t need soon. These accounts are becoming less popular, and the interest rates don’t seem to be higher than in other types of accounts, so most likely that’s not something you need right now.
Wertpapierdepot, or simply Depot (securities account): This is where you hold your investments – for example, ETFs, stocks, or funds. It can be opened together with your current account if you plan to invest through your bank, or separately in neobrokers like Scalable Capital*. Neobrokers have much lower fees than traditional banks, so if you plan to invest, I would choose one of those. For instance, Trade Republic* started as an investment platform but has since become a full bank, so it’s a good example of an app that combines both everyday banking and low-fee investing in one place.
What to Look for When Choosing the Best Bank in Germany
Looking for the best bank in Germany can feel daunting – there are so many options to choose from, each with different conditions and lots of fine print. But if you know what to pay attention to, choosing the right bank for your needs becomes easier. Here’s what actually matters:
Monthly fees and conditions
I’m of the strong opinion that you shouldn’t pay a monthly fee for a bank account in Germany – there’s just no reason to. With so many options for a free account from the best banks in Germany, paying a fee just feels unnecessary. The only time I’d consider it is if the welcome bonus is very high (say, around €200); otherwise, go for a free one.
A lot of the best bank accounts in Germany are free under the active usage conditions: read carefully what these conditions are. Sometimes you must receive salary or pension there (this is the most restrictive option, because you can only get salary in one bank account). Sometimes any incoming transfer will do – in which case you can simply set up a monthly automated transfer from one of your other accounts. Sometimes it's a certain number of monthly transactions – also quite easy if it's a card you plan on using.
Welcome bonuses and other perks
Welcome bonuses from the best banks in Germany can be very lucrative – often between €75 and €250 just for opening a bank account and meeting a few simple conditions. The requirements are usually straightforward: qualifying incoming transfers, a few card payments, or active usage in the first few months. Even if you don't need a new bank account, sometimes it might be worth opening one just for the bonus alone.
Just be careful not to confuse the conditions for getting the bonus with those for keeping the account free – they’re often different. I always list these conditions separately when I describe the best banking offers in Germany below, but make sure you read the fine print when you open a new account anyway.
Besides welcome bonuses, some of the best banks in Germany also offer long-term perks like cashback or small ongoing rewards for using their cards. These might not look as exciting as a big sign-up bonus at first, but over time they can easily add up and bring you better overall value in the long run.
Cards
Every free account at the best banks in Germany usually includes at least one card for free, typically a debit card or a Girocard. Sometimes you can order an additional one, like a credit card, for a small monthly fee – but you can easily build a wallet of all the cards you need in Germany without spending anything. I go over the types of cards you need in the next section.
App and language
If you use your account often, the usability of the app matters a lot. Some banks still look and feel like they were designed in 2002, while others are genuinely pleasant to use. For example, N26* earned a place in this list of the best banks in Germany because of how great their app is, and the Trade Republic* app has improved a lot – it’s now better than most banking apps, even though it started as an investment app. If you’re opening an account primarily for a welcome bonus and aren’t planning to use it very often, the UX won’t matter as much.
I personally prefer banks that are fully digital – I can’t remember the last time I set foot in a branch, and I’d like to keep it that way. All the accounts in this list of the best banks in Germany can be opened and managed online, and most of these banks don’t have physical locations at all, with the exception of Berliner Volksbank*.
Some banks on this list of the best banks in Germany offer their apps and websites in English, while others don’t. For accounts I use less often, I don’t mind if the interface is only in German, but for my everyday ones, I really prefer to have everything available in English – it just makes my life easier. Whenever a bank offers its app and website in English, I mention it in my list – if not, it’s safe to assume they’re only available in German.
Interest rates
Back in the day, to earn interest you had to open a separate savings account and park money there for a while. These days, many of the best banks in Germany also pay interest on your current account balance, so you can keep things simpler. I personally keep my savings with Trade Republic*, which matches the current ECB rate (2.25%), but if you have a lot of savings, you might want to move your money to a bank that offers a higher interest rate – you can find some good options in this list of the best savings accounts in Germany.
Safety and deposit protection
Don’t worry too much about whether a bank is “big and reputable.” In the EU, deposits are protected by law up to €100,000 per person per bank, and Germany follows the same rule. Even if a bank in Germany were to default (which hasn’t happened for decades anyway), your money up to that limit would still be safe. Smaller, lesser-known banks often have higher interest rates and the best bank bonuses in Germany, so there’s no reason to avoid them.
Here’s what you should consider when choosing the right bank for your needs.
What Cards You Should Have in Your Wallet
Let’s start with the basics – here are the main types of payment cards you’ll come across in Germany:
Debit card: Usually Visa or Mastercard. It works directly with your current account balance. Transactions are deducted immediately. You can use them for in-store purchases, online payments and money withdrawals in Germany and abroad.
Girocard (also known as EC-Karte): Germany’s domestic card system. It works mainly within the country and normally you can’t use it for online purchases. This is a relic that doesn't exist in most countries, but unfortunately, it's still necessary to have one of these cards if you live in Germany.
Credit card: Lets you spend now and pay later. Your total spending is collected and charged to your current account once a month or once a quarter, depending on your credit card provider. Usually runs on Visa, Mastercard, or American Express. Some credit cards can be used to withdraw money without a fee, while some charge for this.
A solid wallet setup in Germany includes a couple of debit cards for the majority of your spending, a Girocard for the few places that still refuse to modernize, and, optionally, a credit card if you want to earn rewards or rent cars abroad.
For debit cards, I recommend having both a Visa and a Mastercard – they often come with different promotions. For example, FreeNow offered €15 off when paying with Mastercard a few months ago, while Visa frequently runs their own cashback offers. Choose a bank from this list of the best banks in Germany that gives you either a high welcome bonus, or good cashback, or whose app you really like – there is something for everyone.
A Girocard will come in handy for government offices, doctors, or small local shops. Just choose whichever bank currently offers a good welcome bonus (you will find the current list of highest ones below) and load this account with a few hundred euros for whenever you need it; you likely won’t open this banking app very often.
If you travel outside the Eurozone or shop online in currencies other than euro, make sure at least one of your cards has no foreign transaction fees. I mostly use my everyday debit cards when I travel: both Trade Republic* and N26* are great examples from the list of the best banks in Germany that don’t charge any FX fees.
The right mix of cards in your wallet can make your life a lot easier (and cheaper).
Best Current Accounts in Germany Right Now
Current accounts are the core of your banking setup, and you can definitely have multiple for different purposes. There is also nothing wrong with signing up for a bank account you don't plan to use much if it offers a good welcome bonus. If banks are willing to pay you to join, you might as well enjoy it!
To make things easier, I’m splitting the best banks in Germany into two groups – first, the accounts with the highest welcome bonuses, and then those that stand out for other reasons like cashback, interest rates, or a great app.
Highest Welcome Bonuses from the Best Banks in Germany
€250 Welcome Bonus at Santander
Santander* currently has the highest welcome bonus on this list: €250 for opening their free BestGiro current account online by August 31, as long as you haven't had a Santander current account in the last 24 months. The conditions are a bit more demanding than most, though: to get the bonus, you need to use Santander's account switching service (Kontowechselservice) within three months of opening and move at least four payment partners over to the new account – things like direct debits for rent, electricity, mobile or internet, along with an incoming payment such as your salary. The switch service handles the notifications for you, so it's less work than it sounds, but it does mean this account is best suited to becoming your main one rather than something you open just for the bonus.
The account itself is free – no monthly fee and no minimum income requirement – and comes with a free Visa debit card that gives you six free ATM withdrawals per month worldwide. You can also add a Girocard at no cost, since Santander has just waived the usual fee for new customers, plus an optional Visa credit card with no annual fee.
At €250, Santander offers one of the strongest welcome bonuses among the best banks in Germany right now. If you're happy to switch your everyday banking over, it's an excellent return for a bit of setup – just make sure you're comfortable making it your primary account before you apply. Open your account here*.
At €250, Santander offers the biggest welcome bonus in Germany right now.
€200 Welcome Bonus at ING
ING* is one of the biggest banks in Germany, and right now they're also one of the most generous: you get a €200 bonus for opening a free current account by September 30. The conditions are manageable – give your consent to "Tipps für Sie persönlich" (their personalised offers) within four weeks of opening and keep it active until the bonus is paid, log into the ING app at least once with your own credentials, and receive two consecutive monthly incoming payments within the first four months. The threshold is €1,000 per month if you're 28 or older, and €700 if you're under 28. Salary, pension, child benefit, and student aid (BAföG) all count, but transfers from your own ING accounts, cash deposits, and securities proceeds don't. The offer is open to anyone who hasn't had an ING current account in the past 12 months.
The account is free as long as you have €1,000 in monthly incoming payments, or if you're under 28. It comes with a free Visa debit card, which gets you free cash withdrawals at 97% of ATMs in Germany, and a Girocard can be added for €1.49 per month. There's also a linked savings account included, currently paying 3.75% interest for the first four months – a decent place to park some cash. This is a very strong offer and my current top recommendation. Open your ING account here*.
€200 Welcome Bonus at Berliner Volksbank
Another one of the highest bank welcome bonuses on this list belongs to Berliner Volksbank* with their €200 bonus. The bonus conditions are straightforward: give marketing consent within the first 4 weeks (and don’t withdraw it until you get the bonus), and have at least one incoming payment of €700 per month for 5 months starting from month 2. Salary, pension, or student aid all count, but transfers from your own accounts don’t. You need to open your account by September 15 to take advantage of the offer.
The standard account costs €3.95 per month and includes both a Girocard and a credit card. If you’re under 30, check the Girokonto blauorange* instead: it’s free, comes with a €200 bonus, and the monthly incoming payment requirement is €400.
Despite the name, you don’t need to live in Berlin to apply – the offer is available nationwide to new customers who haven’t had a current account with Berliner Volksbank in the past 24 months. This promotion combines a record high payout with straightforward conditions, and it’s been a reader favorite for many months for a reason – it’s one of the best banking offers in Germany right now. Apply here*.
Berliner Volksbank’s welcome promo has been a readers’ favorite for a reason.
€170 Welcome Bonus at 1822direkt
1822direkt* isn't as well-known as some of the bigger banks from this list of the best banks in Germany, but their current account is one of the better offers on the market right now. New customers (or those who closed their account more than 12 months ago) can get a €170 bonus for opening a free GiroDirekt account, as long as you apply by August 31 and open the account by September 14. To unlock the bonus, at least €700 has to arrive in the account in each of two consecutive calendar months by December 30 – salary, pension, civil service pay, or student aid (BAföG) all count, but transfers from your own accounts or from other private individuals don't, and you need to actually use the account rather than passing the money straight on. Customers who have had an account with 1822direkt or Frankfurter Sparkasse in the past 12 months are excluded.
The account itself is free with monthly incoming payments of at least €700, or if you're under 30. It also includes a Girocard with V Pay and free withdrawals from Sparkasse ATMs across Germany, plus the option to add a Visa Classic or Visa Gold credit card, both free in the first year. You also get a special 3.20% interest rate on the linked savings account for the first six months, on balances up to €250,000, available to new customers who haven't held a Tagesgeld account with 1822direkt in the last 12 months. The offer doesn't apply to Frankfurter Sparkasse customers. Sign up here*.
Up to €150 Welcome Bonus at comdirect
Comdirect* is one of the most popular banks in Germany. New customers that haven't held a comdirect account in the past six months can get a welcome bonus by signing up to Girokonto Aktiv or Girokonto Extra until August 31. Both accounts come with a free Visa debit card, an optional Girocard for €1 a month, and a savings account paying 1.75% for the first year. Both bonuses are paid in the fourth month after opening.
Girokonto Aktiv* comes with a €100 welcome bonus if you give marketing consent during the application and make five card payments of €25 or more in the first three months. The account is free for six months, and stays free after that if you have at least €700 of incoming payments per month, make three Apple or Google Pay payments a month, do one securities order a month, or if you're under 28 and studying. Otherwise it costs €4.90 a month. You also get three free ATM withdrawals a month worldwide.
Girokonto Extra* pays a welcome bonus of €150. To get it, you need to give marketing consent during the application and have at least €700 arrive in the account in two of the first four months. The account is free for the first year and then costs €2.90 a month, and it comes with a Visa credit card and five free ATM withdrawals a month. Compare comdirect accounts here*.
More Great Bank Accounts from the Best Banks in Germany
Not every account on this list of best banks in Germany comes with a big sign-up bonus – some stand out for their long-term perks instead. Whether it’s because of cashback on every purchase, high interest on your balance, or simply the best app experience, these options deserve a spot on the list too. Here are a few that are worth a look.
Trade Republic
Trade Republic* has evolved from an investment app into a full-featured bank and is now one of the best options for everyday banking in Germany. You get 1% cashback on your card purchases (up to €15 per month) and an interest rate on your account balance that matches the current ECB rate (currently 2.25%). The Visa debit card is free, and you can order a physical card for a one-time fee of €5. To qualify for the cashback, you just need to have an active savings plan in the app (which is why they actually call it saveback), but if you’re not into investing, you can cash it out at any time.
I use Trade Republic for most of my daily banking, and I love it. Everything works smoothly in English (including customer support), the app is modern and easy to use, and you have all the features of traditional German banks without the headaches of photoTANs or paper letters. With its combination of cashback, high interest, and no fees, Trade Republic is one of the best banks in Germany for anyone who wants a free account that actually gives something back. Sign up here*.
Trade Republic is my personal favorite bank account in Germany and favorite app for everything money-related.
N26
N26* has been around for a while now, and it still has the best-designed banking app in Germany. The standard account is completely free and includes a virtual Mastercard debit card, which you can use for both in-store and online payments. If you want to have a physical card (it’s transparent and really cool), you can order one for a one-time fee of €10. The setup takes just a few minutes, everything is handled digitally, and the app and customer support are available in English.
The overall experience is excellent: instant notifications, amazing UX, and features like MoneyBeam, which lets you send money to friends instantly using just their phone number (no more sending IBANs to each other). N26 was my first bank in Germany when I moved here 8 years ago, and I still use it regularly. No list of the best banks in Germany would be complete without it. If you don’t care much about bonuses and rewards and value a smooth, fully digital experience, this is the perfect everyday account. Sign up here*.
Finding the best bank in Germany doesn’t have to be complicated – once you know what to look for, it’s mostly about matching the right combination of accounts and cards to your habits. Whether you’re after a big welcome bonus, a great app, or a high interest rate, there’s something for everyone out there.
Want to complete your banking setup in Germany? These guides will help:
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