The Top Banks in Germany: A complete overview
Do you have any plans to move to Germany? If you’re moving to Germany to study, work, or establish a business, it can be advantageous to create a bank account there. However, selecting a bank might be difficult for foreigners. To be of service, we have produced a list of banks in Germany as well as information on how the German banking system functions. Learn more about Germany’s leading banks in this article.
An Overview of Top Banks in Germany
- Along with local cooperative banks and savings banks, Germany has roughly 144 retail banks.
- It would help if you had your ID and accompanying documents to create a bank account in Germany.
- For account maintenance, certain German banks charge about €5.
- The ATM at your bank is often cost-free, but using an ATM from another operator or your card outside of the nation may incur charges.
- The majority of sizable German banks provide mobile and online banking.
- Frequent high fees are charged by German banks for international transactions outside of Europe.
Top Banks in Germany
1. Deutsche Bank 
- There are various current accounts (Girokonto) available from Deutsche Bank.
- Active Account (AktivKonto) is the name of the fundamental account.
- The Best Account (BestKonto) premium account option is available.
- One MasterCard Gold credit card is provided with The Best Account.
- The Young Account (Junge Konto), which they provide, is a student account.
- 15% of the Cash Group’s ATMs offer free withdrawals.
- 1% of the amount withdrawn from other ATMs, plus a cost of 6 euros.
- At a Deutsche Bank ATM, there is no charge for using a debit card.
2. HypoVereinsbank
- Girokonto accounts are offered by HypoVereinsbank.
- For two years, HVB Plus Account is free for new customers.
- HVB Active Account and HVB Exclusive Account monthly cost.
- Every account comes with debit cards and access to online and mobile banking.
- Offers credit card, investment, and savings options.
- Around 25,000 ATMs offer free cash withdrawals with HVB ecarte.
- At Shell petrol stations in Germany, ATMs are available for free withdrawals.
- Cash Group banks (Deutsche Bank, Postbank, Commerzbank, and its domestic subsidiary banks) also permit free withdrawals.
3. Postbank 
- Deutsche Bank is the owner of Postbank.
- The Postbank Giro Plus account is available from Postbank for a monthly charge.
- A monthly fee is charged for a low-cost online-only current account.
- If specific conditions are met, the Postbank Giro Extra Plus account’s fee may be waived.
- If they are under 22, undergraduate students can open a free Postbank Das junge Konto account.
- Free withdrawals from the Cash group’s ATMs; a 1.50 euro fee applies.
4. Commerzbank 
- Numerous current accounts are available from Commerzbank.
- The name of the fundamental current account is Kostenloses Girokonto (free).
- Additionally, Commerzbank provides Premium and Klassik accounts.
- It is possible to compare all accounts.
- The Commerzbank website is specifically in English, making it accessible to non-German speakers.
- Free withdrawals from 15% of the ATMs in the Cash Group.
- 1.95% of the amount you withdraw from another ATM (minimum 5.98€) is the cost.
5. BerlinerSparkasse 
- In Germany, public shareholders, frequently municipal governments, own Sparkassen.
- Berlin’s BerlinerSparkasse is a well-known institution.
- There are numerous checking accounts accessible, including the monthly fee-based online-only Giro Digital.
- The youth account, often known as the “Giro up to the 25th birthday” account, is a free account available to young people.
- Sparkasse ATMs (45% of the ATMs) offer free withdrawals; the other ATMs charge a 2% fee (minimum 7.50€).
6. Volksbanken und Raiffeisenbanken 
- Volksbanken und Raiffeisenbanken is the entity in charge of managing banking cooperatives and credit unions in Germany.
- Through a dedicated app, they offer internet and mobile banking.
- The company runs more than 15,500 ATMs throughout Germany.
- Depending on where you are and the closest branch, there are different possibilities for current accounts.
- On their website, you may find more details about the accounts that are accessible.
- BVR ATM withdrawals are free at Volksbank (32%). The fee for other ATMs is 7.50€, or 1% of the amount of the withdrawal.
- 1.7% of bank fees are in foreign currencies.
- Transactions with your own money are free of charge.
- Based on residency and card type, fees might change.
7. Stadtsparkasse Munich 
- One of the first banks in Germany, the Stadtsparkasse München, was founded in 1824.
- Munich’s Stadtsparkasse provides a dedicated youth, student, and child account.
- Additionally, they provide an online checking account.
- For visitors to Munich who are new to the city, there is a special Giro package available.
- Savings Banks Act, Bavarian Savings Bank Regulations, and City Council-issued Articles of Association serve as the institution’s legal pillars.
- The institution complies with the law.
8. Frankfurter Sparkasse 
- Germany’s fourth-largest savings bank.
- biggest savings institution in Hesse.
- member of the German Savings Bank Association through the Hesse-Thuringian Savings Bank Association.
- a component of the world’s largest financial conglomerate, S-Finanzgruppe.
- around 3,000 persons are employed.
- Frankfurt is home to the renowned organisation Sparkasse Bank.
- includes Convenient Checking Account, Classic Current Account, and Premium Current Account among its available daily current accounts.
- offers accounts made especially for children and teenagers.
- provides alternatives for credit cards, savings, and investments.
9. ING Bank 
- A checking account without a monthly fee is available from ING Bank.
- Included is a free debit card.
- availability of mobile and online banking.
- offers a range of financial services, such as savings and investment products, construction financing, and insurance.
10. Santander 
- German and British branches of the international bank Santander.
- gives Germans access to a free checking account.
- The bank account can come with a free credit card and a welcome bonus if you ask for them.
- provides savings accounts and alternative credit card options
Finally, Germany provides various banking options, including well-known financial institutions like Deutsche Bank, Commerzbank, and Sparkassen. To meet the demands of various customers, these institutions offer a range of current account alternatives, online and mobile banking services, and extra financial products.
