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Open a German bank account and understand Schufa

Verified as of 2026-06-13 · Official source

A German bank account (Girokonto) is needed for rent, salary, and most direct debits. Everyone legally resident in the EU has the right to a basic payment account (Basiskonto), even without a perfect credit record. This guide explains opening an account and what the Schufa credit record is. It's general information, not financial advice.

  1. Choose a bank or account type

    Branch banks, direct banks, and app-based banks all offer Girokonten. Compare fees, ATM access, and whether the account is recognised for your salary and rent. If you've had trouble being accepted, ask specifically about a Basiskonto, which banks must offer.

    Typical time: An afternoon to compareCost: Free basic accounts exist; some charge monthly fees

  2. Open the account and verify your identity

    You verify your identity by video call (VideoIdent) or at a post office / branch (PostIdent). Once verified, your IBAN and card are sent by post.

    Typical time: 15–30 minutesCost: Free for the verification

    First complete: Choose a bank or account type

    Documents to bring

    • Passport or ID
    • Anmeldebestätigung (registered address)
    • Sometimes your tax ID

  3. Understand your Schufa record

    Schufa is Germany's main credit agency. Landlords and lenders often ask for a Schufa score or a Bonitätsauskunft. You're entitled to one free copy of your stored data per year (Datenkopie nach Art. 15 DSGVO). Request it so you know what's on file before a landlord does.

    Typical time: Free copy arrives by postCost: One free data copy per year

Official sources

Related guides

Change log

  • 2026-06-12 — Initial publication.
  • 2026-06-13 — Updated BaFin consumer link after restructure; re-verified.

Information, not legal or tax advice. Always check the official source for your case.