Opening a bank account

If you are staying in Germany for more than a short period (e.g., over two months), it is strongly recommended to open a German current account ("Girokonto") to receive salary payments and manage everyday expenses.

Required Documents

• Passport: A valid passport is essential.
• Registration Certificate: Proof of residence registration ("Meldebescheinigung") from the local Residents' Registration Office.
• Residence Permit: Not always required for EU citizens or for digital banks like N26. However, many traditional banks do ask for it, especially for non-EU nationals.

Additional documents might include proof of university enrollment or employment, depending on the bank's policies.

Debit and Credit Card Usage

Debit Cards: Upon opening an account, you'll typically receive a debit card (often referred to as a Girocard). This card allows cash withdrawals and payments in many shops and restaurants.
Credit Cards: While acceptance is increasing, especially in urban areas, credit cards are still less commonly used in Germany compared to other countries like the U.S.

ATM Withdrawals

Fee-Free Withdrawals: Withdrawing cash is free at your bank's ATMs or those within the same banking network.
Fees at Other ATMs: Using ATMs outside your bank's network may incur additional charges.
Cashback at Supermarkets: Many supermarkets, such as REWE, offer cashback services when you make purchases above a certain amount, allowing you to withdraw cash without extra fees.

Local Banking Options

Sparkasse KölnBonn: Located at Venloer Straße 628 (Bickendorf), this branch is close to the institute and most of the staff speak English, making communication easier for international clients.
N26: An online bank offering services in English, providing a convenient alternative for those who prefer digital banking solutions.

Additional Considerations

Cash Usage: Despite the availability of card payments, cash remains a prevalent payment method in Germany, especially in smaller establishments.
Banking Fees: Some banks may charge monthly maintenance fees or require a minimum balance. It's advisable to enquire about any potential charges when choosing a bank.