Many transactions, e.g. receiving a paycheck deposit, paying rent, etc. can only be done through a German bank account.  The four largest banks in Germany are Deutsche Bank, Commerzbank, Postbank, and Hypovereinsbank. There are also some online banks, like N26, an app-based bank that offers English-language services and free ATM withdrawals.

To save yourself unnecessary hassle, we recommend asking in advance which documents the bank requires for opening an account.  When you are ready, take these documents with you to a bank branch of your choice and ask to open a current account (Girokonto). You will most likely need:

• Passport or personal identification card.

• Contract and/or German work permit (if applicable).

• Confirmation of registration from the Resident Registration Office or Alien Registration Office.

Once you’ve opened a current account, you will be issued a debit card, with which you can withdraw money from ATMs. In Germany, debit cards are often referred to as EC-, Giro- or Maestro cards. You can use EC cards to pay at most shops and restaurants. The cashier will ask you to either authorize the payment with a PIN or sign the receipt.

Although many businesses do accept EC cards, Germany is still very much a cash culture.  You will come across some shops and restaurants that are cash-only, or have an EC card minimum.  It’s always a good idea to have cash (both coins and bills) on hand.