If you plan on staying in Berlin for an extended period, you’ll absolutely want to open a bank account. After obtaining your Anmeldebestätigung, this is the next thing you’ll want to look into. It will allow you to do things like: start a gym membership in Berlin, set up direct deposit for a new job, and automate rent payments.

In case you haven’t noticed, most shops and restaurants do not accept Visa. So carrying yours around won’t get you too far here. Carrying around huge amounts of cash probably isn’t the best idea either! So let’s get started on setting up a bank account in Berlin.

To open a bank account in Berlin and to register for most anything in the city, you will need your passport and your Anmeldebestätigung paper. Keep these in a safe place and carry them with you for these types of appointments. If you are a student, you will require student identification to set up at student bank account in Berlin.

Choosing a Bank in Berlin

Like in most cities, there are a variety of financial institutions to choose from. Berlin’s major retail banks include Deutsche Bank, Commerzbank, Postbank, Dresdnerbank, Volksbank and Sparkasse. Choosing the right one for you will depend on a variety of factors. For many, service in English will be a primary concern. You will want to understand how your money is being managed and all the ways in which your new account will work. Convenience is also important – does the bank have many institutions that are close by to your flat or easily accessible by transit?  Does the bank have many Geldautomats (automated banking machines) around the city? Options will vary if you are a student, own property, have children, etc. These are all important things to discuss with the bank you are interested in.

Start by visiting a bank and setting up an appointment with a financial advisor. You will quickly find out if the location offers service in English or another language at this interaction. It is commonly understood that the banks in popular tourist areas near the city center are more likely to offer service in English. This is also something to consider in your choice.

My Story

I decided to go with Sparkasse Bank. For many of you, this will sound familiar. This is because Sparkasse has over 150 locations throughout Berlin. There is one conveniently located at Alexanderplatz right near my classes at DeutschAkademie. When I arrived, I let the receptionist know that I would like to open a bank account. I tried my best auf Deutsch and as always they appreciated it, but they were able to book me an appointment with an English-speaking advisor for the next afternoon. The appointment took approximately 45 minutes. My advisor was super friendly and open to any questions that I had. I opted for a strictly online account, as this more affordable and more suited to my needs. A large portion of the appointment was focused on insurance offerings. These options include personal liability insurance and home insurance. Your advisor will give you a description of each option and you can decide which ones are applicable to you. As a side note, having these insurances actually helped me secure a permanent flat in Berlin! My advisor joked a few times during our appointment that “Germans love insurance.” Apparently that’s true!

Getting Started

Most things about opening a Bank Account in Berlin and the process involved will be fairly straightforward and similar to the one in your hometown. The only thing that was different for me and a few others that I’ve spoken to, was that once you have opened the account the bank will send you your newEurocard (EC) in the mail. This will follow with another letter a few days later indicating your PIN. This was confusing to me at first, but it was explained that this is an extra security precaution.

Once you have your card and PIN, you’re good to go! Banks are typically open on weekdays until 4:30 pm and later on Thursdays. On Saturdays, they are open for a few hours and are generally very busy. Banks are closed on Sundays, but Geldautomats are available 24 hours a day, 7 days a week and found all over the city. But be careful- using a Geldautomat for a bank other than your own will cost you anywhere from €3 – €6.

And lastly, it’s okay to shop around! If you’re not completely comfortable with the options that one institution provides, set up an appointment with another advisor at a different bank. It’s an important decision and one that will require some research.

Good luck opening up a bank account in Berlin!