A current account is part of daily life in Germany. Salary, rent, shopping and bills usually run through it. A zero-fee account can still cost money for cards, cash or transactions. This guide explains what to compare.
- Check the monthly fee and all extra charges.
- Look for a required monthly incoming payment.
- Compare Girocard, debit card and credit card.
- Check free cash machines and cash deposits.
- Compare overdraft interest.
What is a Girokonto?
A Girokonto is a German current account for everyday payments. You can receive money, send transfers, pay direct debits and use a card. Most banks also provide online banking and an app.
When is an account really free?
“Free” does not always mean every service costs zero. A bank may charge for cards, cash deposits, paper transfers or statements. Some accounts are free only if a minimum amount arrives every month.
Costs to compare
| Cost | Check |
|---|---|
| Account fee | Monthly charge and conditions for a waiver |
| Cards | Girocard, debit card, credit card and replacement card |
| Cash | Free ATM network, minimum withdrawal and deposits |
| Transactions | Online and paper transfers, standing orders and statements |
| Abroad | Foreign-currency and withdrawal fees |
| Overdraft | Interest for agreed and tolerated overdrafts |
Debit card or credit card?
A debit card normally charges your account immediately. A classic credit card usually bills later. Hotels and car-hire companies may accept a real credit card more easily for deposits.
Online bank or branch bank?
Online banks are often cheaper but may make cash deposits harder. Branch banks provide face-to-face service but can cost more. Choose according to the services you really use.
Why overdraft interest matters
An overdraft lets the balance go below zero up to an agreed limit. Interest can be high, especially for an unarranged overdraft. Use it only for a short period.
Current-account comparison
Use the tool to compare accounts. Always confirm the latest conditions with the bank because prices and promotions can change.
How to choose
- List the services you need.
- Estimate incoming payments and transactions.
- Compare total yearly costs.
- Check cards, cash access and the app.
- Read bonus and fee-waiver conditions.
- Check deposit protection and the provider.
- Open the account and use the switching service.
What is a basic account?
People legally resident in the EU who do not have another payment account in Germany may have a right to a basic account under certain conditions. It includes core payment services, but not automatically credit or an overdraft.
Switch safely
The old and new banks must assist with the statutory switching process. Keep the old account open for a few weeks and close it only after salary, rent and important payments have moved.
Frequently asked questions
Which account is best?
The best account matches your use. Compare costs, branches, cash access, cards and service.
Is a debit card a credit card?
No. Debit payments normally leave the account immediately. A real credit card bills later and may work better for deposits.
Is my money protected?
Check the bank’s deposit-protection system and its conditions. BaFin offers a neutral account-comparison service.
Conclusion
Do not compare only the advertised price. Check yearly costs, conditions, cards, cash, overdraft interest and service.
Quellen und weitere Informationen: BaFin-Kontenvergleich · Verbraucherzentrale: Girokonto-Checkliste · Verbraucherzentrale: Kontowechsel · Tarifcheck: Girokonto-Vergleich
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