Banking in Germany as a Brit

You'll need a German current account (Girokonto) within weeks of landing in Berlin. The good news: if you live here legally, the law says a bank has to give you a basic one.

The short version

Rent, salary, health insurance and the broadcasting fee all run through a German account by bank transfer or direct debit (Lastschrift), so open one early.
Anyone lawfully resident in the EU without a German account has a legal right to a basic account (Basiskonto), and the bank has ten business days to offer one [5][6].
Banks ask for your passport, often your residence document and registration certificate, and your tax details.
SCHUFA is Germany's main credit agency. Your UK credit history doesn't come with you, but you can get your SCHUFA data free [8].
German deposits are protected up to EUR 100,000 per person per bank (about £83,320); UK deposits up to £120,000 [4][7].

Pound conversions use the Bank of England spot rate of 5 November 2026 (£1 = EUR 1.2002).

Why a UK account won't do

Back home in Blighty you could pay everything from one Barclays account. In Germany, landlords expect the rent by standing order from a German or at least euro account, the Krankenkasse collects by direct debit, and employers pay into an IBAN. A UK sterling account means conversion fees every month, and many direct debit forms simply won't take it.

Germany is also more cash-friendly than the UK. Card payments are now widespread, but plenty of Berlin Spätis, bakeries and Kneipen still prefer cash, and the German debit card (girocard) is still the one some places accept.

Your options

Type	Examples	Good for	Watch out for
Savings banks and cooperative banks	Berliner Sparkasse, Berliner Volksbank	Branches, cash machines, local mortgages	Monthly fees; English varies by branch
Big private banks	Deutsche Bank, Commerzbank, Postbank	Branches across Germany, English apps	Monthly fees unless you pay in a salary
Direct and app banks	DKB, ING, N26, comdirect	Low or no fees, English apps, quick opening	Few or no branches; cash deposits can cost

We don't recommend any bank. Compare the monthly fee (Kontoführungsgebühr), card fees and how you'd pay in cash before you sign. Banks must publish a fee summary for each account.

Opening an account, step by step

Do your Anmeldung first if you can. Many banks ask for your registration certificate (Meldebescheinigung), and your 11-digit Steuer-ID is posted to you after you register [1]. See Anmeldung: registering your address in Berlin.
Gather your papers: a valid passport, your residence permit or Aufenthaltsdokument-GB if you have one, your Berlin address and a work contract or payslip if you want an overdraft.
Expect tax questions. Banks have to record your tax residence and tax ID, and you'll be asked if you're a US person. Answer honestly that you're tax resident in Germany once you've moved.
Prove who you are. In a branch, that's your passport on the counter. App banks use video identification (VideoIdent) or Postident, where you show your passport at a Deutsche Post branch.
Wait for the post. Your card, PIN and online banking codes usually arrive in separate letters, so make sure your name is on the letterbox. Germans take that very seriously.

The chicken-and-egg problem, and the Basiskonto

The classic Berlin faff: the landlord wants a German account before you sign, the bank wants a registered address, and the Bürgeramt wants a lease. The law cuts through it.

Under the Payment Accounts Act (Zahlungskontengesetz), every consumer lawfully resident in the EU has a right to a basic account, including people without a fixed address [6]. BaFin, the financial regulator, says [5]:

you qualify if you don't already have a payment account in Germany;
a basic account covers cash in and out, transfers, direct debits and card payments, and online banking if the bank offers it to others, but no overdraft;
fees must be "reasonable";
once your application is complete, the bank has ten business days to offer you an account;
a valid passport is enough ID, and if you have no registered address yet, a postal address (with friends, for example) will do.

A bank can only refuse for reasons set in law, such as already holding a German account. If you're turned down, you can ask BaFin to step in, which is free, go to a consumer arbitration body, or go to court [5]. One catch: a Fiktionsbescheinigung, the temporary paper you may get while a residence permit is processed, doesn't count as ID on its own, so bring your passport [5].

SCHUFA: your new credit score

SCHUFA is Germany's main credit reference agency, and landlords, phone companies and lenders all check it. As a newcomer you have no German history, so a thin file is normal rather than a black mark. Pay your bills on time, don't open and close lots of accounts, and it builds up.

Landlords in Berlin often ask for a SCHUFA certificate with your application. You're entitled to a free copy of your SCHUFA data, which usually arrives by post within five to seven days [8]. Your Experian or Equifax history back in the UK doesn't transfer, so keep your UK file alive too: see your UK credit file while you're away.

Keeping your UK account alongside

Most Brits keep at least one UK account for a UK pension, rent from a UK flat, or simply to pay for things on visits home. A few practical points:

Some UK banks restrict accounts for customers who live abroad. Check your bank's terms before you go, and tell it your new address rather than hoping nobody notices. Our guide to keeping a UK bank account when you live abroad explains which questions to ask.
Keep a UK mobile number for security codes; losing it is the commonest way to get locked out. See keeping a UK mobile number and address.
Declare it in Germany. Interest on UK savings is taxed in Germany once you're resident, and the FCDO warns that assets held outside Germany must be declared with your tax return, with severe penalties if you don't [1]. ISAs aren't tax-free here; see German taxes for Brits.
Mind the UK taxman too. Once you've left the UK tax system, the UK still taxes UK income such as rent from a flat you let out [2]. As a British citizen you can claim the Personal Allowance against it with form R43 [3].
Deposit protection differs. The FSCS protects £120,000 per person per bank [4]. German statutory protection is EUR 100,000 per customer per bank, rising to EUR 500,000 (about £416,600) for six months after certain one-off sums, such as proceeds from selling your home [7].

When you go back to the UK, the FCDO's checklist includes telling your German bank [1].

Tax on German savings

German banks deduct flat-rate tax on interest and dividends automatically. To use your EUR 1,000 saver's allowance (about £833), give your bank an exemption order (Freistellungsauftrag), which needs your Steuer-ID. Couples filing jointly can share EUR 2,000. If you have accounts at several banks, split the allowance between them.

Moving money from the UK

Transfer	What usually happens
Euros between EU accounts	SEPA transfer, usually free and arriving the next business day
Pounds from a UK account to a German account	Converted into euros; the exchange rate margin is often the real cost
Large one-off sums (a house sale, a pension lump sum)	Ask both banks in advance; expect questions about where the money came from

The headline fee is only half the story. Compare the exchange rate you're given with the mid-market rate on the day, and only use firms authorised by the FCA or BaFin. For big sums, our guide to sending money between the UK and abroad explains how to keep the cost down and avoid scams.

German banks follow strict money laundering rules, so a large transfer from the UK may trigger questions about its source. Keep the paperwork, such as a completion statement or pension letter, to hand.

If you get stuck, and plenty of people do on their first PIN letter, our community group for Brits in Germany is full of people who've been through it.

Banking in Germany as a Brit: opening an account, SCHUFA and your UK money