The 5 Best FREE Bank accounts in Germany

In this guide I am going to share The 5 Best FREE Bank accounts in Germany in my opinion. And I KNOW there are many free bank accounts in Germany.

I have tried many banks, first as a Student without a job, then with a job, after that as an employee on a blue card, then on PR and also as a Dual National.

However not every free bank account might be a good fit for you or you might not be a good fit for the bank.

Why you can’t get a Free Bank Account in Germany

There are many factors causing this. The biggest issue is the acceptance rate. Bank have their own risk assesment, algorithms essentially based on customer with your nationality, similar residence permits and many other parameters.

But the 3 main things are your

1. Nationality
2. Visa Status
3. Schufa score

Bank Accounts with top acceptance rate with foreigners in Germany

These are N26, C24, Comdirect, Revolut and at number 5 is a newcomer that you might really like. I will also talk about some other free bank account and why they arn’t in my top 5 list but can be great options for you.

So On the top of the list is

N26 Free Bank Account in Germany

And I think its rightfully so because even among new commers N26 is often the bank that everyone talks about.

I do not know anyone who uses this bank account and has anything negative to say about it because of their paperless, no-hassle way to start banking in Germany.

The N26 standard account is totally free, without any conditions and minimum monthly incoming requirements.

N26 Free Account Features

It comes with a virtual Mastercard for free, and if you need a physical you need to pay 10€ shipping costs.

But honestly speaking in most cases you don’t need a physical that but I do understand that having an actual card could be an absolute must for some people.

You get 2 Free ATM withdrawals in euros. After that each ATM withdrawal costs 2€ per transaction. N26 has both apple and google pay also paying abroad with the card involves zero foreign exchange fees.

So For day-to-day use, it’s incredibly convenient and their app being in English makes everything feel intuitive. N26 also has some other features like Stocks and Crypto Investing, a free Joint account and many others.

But like everything else, N26 isn’t perfect.

Drawbacks of the Free N26 Account

First of all N26 requires a physical residence permit and in most cases with at least 1 year of validity to open an account.

Simply having a visa in your passport or a very short permit is not enough. Also Cash deposits are also not free. You pay 1.5% fee if you deposit cash into your Free N26 account. Which isn’t great if you deal in cash.

Honestly speaking the last time I deposited cash in my bank account was probably 6 to 7 years ago but I do understand that this is a requirement for many.

C24 Bank Account in Germany

I would have probably placed C24 on the top but the only reason its at number 2 is that the entire C24 ecosytem is only available in German.

So the app and the customer service are in German (some people say that they do speak in English if you ask them to).

However even with everything in German, C24 offers some amazing features and honestly the highest acceptance rate I have seen with any bank offering a Free Bank Account.

This alone, makes it one of my favourite free bank accounts in Germany.

Features of C24 Free Bank Account

In terms of Services, C24 Smart account is unconditionally free. C24 offers a Free Physical MasterCard Debit card and an additional free Virtual Debit card.

You also get a Free EC or GiroCard which is a huge plus as there are still many vendors in Germany that only allow card payments using a Giro card and not with a visa or mastercard debit card.

Additionally you get 4 free cash withdrawals per month. On top of that you get one of my favorite features for free and that is the pocket.

Now pockets with C24 bank are sub accounts with their own IBAN number. Allowing you to easily transfer money directly from your Pocket to external accounts, receive money, and initiate direct debits.

With these pockets you can set aside money and keep it separate from your daily expenses. This is a great feature for those who have difficulties with arainging their expenses.

Problems with C24 Bank Account

Again C24 is also not perfect. You do not get free cash deposits. You will have to pay 1,75 Percent of the amount being deposited as a fee.

But if cash deposits are essential to your then the next free bank account in Germany could be for you.

Comdirect Free Account in Germany

Comdirect does offer a Free Bank account for the first 6 months, after that it is conditionally free.

So lets me first share the conditions to keep the comdirect account free and then why its worth it even with the effort.

How to Keep Comdirect Account for Free

As a student under the age of 28 years, your comdirect is also condition free. After that just like everyone else you need at least 700 euros coming into the account, or 3 payments in a month with Apple or Google pay or at least 1 trade using the Comdirect Securities account.

Now this 700€ doesnt mean that you have to keep 700€ in the account or have a salary of 700€ plus. You only have to have 700€ coming in every month. There is also no minimum time for this amount to be kept in the bank account.

Features of Comdirect Free Account

With Comdirect you also get a Free Visa Debit card and with an 1€/month payment you also get a Girocard.

If you get the giro card you can withdraw as often as you like At around 5,000 Cash Group ATMs and up to 13,000 retail partners.

But without the Giro Card you get 3 free of charge cash withdrawals per month at all ATMs with the Visa symbol in Germany and worldwide.

So why can Comdirect be worth it for you? well 3-Time in a Year, you can make Cash Deposits without any fees.

I know 3 times a year isnt much but considering other free bank accounts in Germany which don’t offer any free cash deposits, I consider it a huge plus.

Revolut Free Account

Revolut also offers a condition free bank account with Revolut Standard. Previously you got a Lithuanian Bank Account but recently they have opened a branch In Germany so now your get an Actual German Bank account with a DE iban number.

Features of Revolut Free Account

With Revolut Standard you also get a Free Virtual MasterCard Debit Card and free Disposible Visa Debit Card.

The disposible visa is a great option to protect yourself from Fraud if you are buying something from somewhere that new to you.

You can also order a Physical Debit card with a fee of about 8€. You can withdraw cash maximum of 5 withdrawals for free up to 200€/month in total.

Unfortunately there is absolutely no possiblility of cash deposits with revolut. The limitations with cash deposits and withdrawals put revolut at number 4 on my list otherwise it would definitely be higher.

Trade Republic Bank Account

Yes trade republic also offer a free bank account in addition to their Investment account. Currently Trade Republic is offering a free bank account with 1 condition.

You can’t just open a bank account with them. The free bank account is in addition to the Investment account , which in my opinion isn’t a bad thing.

Features of Trade Republic Bank Account

So what does the Free Bank Account from Trade Republic Include: Well you get a free Virtual Visa Debit Card, to get a physical card you either pay 5€ for their plastic card or 50€ for their Metal card.

You get unlimited free cash withdrawals above 100€ but if you withdraw anything below €100 you pay 1€ transaction fees.

Unfortuantely like revolut there is no option for cash deposits with the Free Bank Account from Trade Republic at the moment.

If you already have an Investment Account with Trade Republic, I think this can be an amazing secondary bank account.

Other Free Bank Accounts you can choose from.

Previously, commerzbank was a great free option but they have removed their free tier a couple of months ago. Some other options in Germany include free bank accounts from DKB, Consorsbank , Noris bank, Santanderbank and Ing Diba.

Now these banks do provide free bank accounts but they are not that great when it comes to the acceptance rate.

Lets look into the specifics with these 5 free bank accounts

Bank	Conditions to Keep Free	Free ATM Withdrawals	Cash Deposit Policy	Card Type(s) Provided
Santander Bank	Condition-free	Unlimited at Cashpool ATMs	Unlimited free	Free Visa Debit
DKB	Min. income requirement	Unlimited at Visa ATMs	Fee applies	Free Visa Debit
Norisbank	Condition-free	Unlimited at Cashgroup ATMs	Unlimited free	Free Girocard
ING	Min. income requirement	Free above €50 at ING ATMs	Fee applies	Free Visa Debit
Consorsbank	Min. income requirement	Free above €50 at own ATMs	Fee applies	Free Visa Debit + Free Girocard

Overall I think each bank has its own strenghts and weaknesses but at the end of the day it comes down to the acceptance rate and your specific requirements. I have dedicated guides on many of the banks in Germany mentioned today. You can read over here if you are interested in getting a free credit card in Germany.

Disclaimer: None of the content in this article is meant to be considered as legal, tax or investment advice, as I am not a financial expert or a lawyer and am only sharing my experience with stock investing. The information is based on my own research and is only accurate at the time of posting this article but may not be accurate at the time you are reading it.