Money and Banking: Bank Account Requirements

Opening a local bank account can make residing abroad easier.

Banks have varying requirements to open an account.

By German law, banks are required to verify your identity before you can open an account. To do this, you must present a passport with a valid visa, documents proving your reason for being in Germany (employment verification, student registration, fellowship acceptance, etc.), and proof of German residence (an official registration certificate, or Meldebescheinigung). You may also be required to provide a minimum deposit and prove your income with your last three pay stubs or a letter from your employer. If opening the account from abroad, documents will need to be notarized, and you may need to provide a letter of reference from your current bank and a taxpayer number in your home country. Contact your bank for its exact requirements.

You’ll need to decide what type of account(s) to open, which will depend on how you like to access your money and how frequently you’d like to do so.