Banking in Germany for Indians
Which bank to open, how to send money home cheaply, and the step-by-step process for new arrivals — all in one place.
Best Banks Compared
Updated 2026N26
DKB
Commerzbank
Wise (Transferwise)
Step-by-Step Process
For new arrivals from IndiaArrive and get a temporary address
If you're staying at a hotel or Airbnb for the first week, get the address confirmed in writing. N26 only requires a passport — you can open it from India before you arrive.
Complete your Anmeldung (address registration)
Once you have a flat, register at the Bürgeramt within 14 days. You'll receive the Anmeldebestätigung — a document most banks, landlords and employers will ask for.
Open your primary bank account
N26 or DKB for online, Commerzbank or Deutsche Bank for a traditional account. For employed workers, this becomes your salary account. Share the IBAN with your employer immediately.
Get your Steuer-ID (Tax ID)
Sent automatically 2–4 weeks after Anmeldung. You need this for payroll. Ask your employer's HR to apply for a preliminary Steuer-ID if yours hasn't arrived yet.
Set up Wise for Indian transfers
Open a Wise account in parallel. Set up a recurring transfer each month for family remittances. You'll save hundreds of euros per year vs bank wire transfers.
Banking FAQs
Q: Do I need an Anmeldung to open a bank account in Germany?
Not always. N26 can be opened with just a passport before your Anmeldung — ideal for new arrivals. DKB and most traditional banks (Deutsche Bank, Commerzbank) require your Anmeldung confirmation (Anmeldebestätigung).
Q: Which German bank is best for Indians sending money home?
Use Wise (not your German bank) for transfers to India. Wise charges ~0.5% and uses the real exchange rate. German banks add 2–4% to the exchange rate on top of fees — on a €1,000 transfer that's €20–40 wasted every time.
Q: Can I open a German bank account from India before moving?
Yes — N26 can be opened with a video ID verification using your Indian passport. You'll have a German IBAN ready when you land. This is useful for paying your first rent deposit.
Q: What is a SCHUFA score and does it affect Indians?
SCHUFA is Germany's credit scoring system. As a new arrival, you have no SCHUFA history (not a bad score — just no history). Landlords and banks treat this neutrally. You can build credit history quickly by paying bills on time and having a salary account.
Ready for the full picture?
Banking is just the start. Check out our complete settling guide and flight deals.