If you are planning to stay in Germany for an extended period of time and have a regular income or receive grant payments, you should organize the opening of a current account ("Girokonto") at a bank or local savings bank.
To open an account, you will need:
As soon as you have opened your account, the bank will send you a card by post and a second letter containing the PIN (Personal Identity Number) for it. Then you can use it at any ATM to withdraw money as it is quite common to pay with cash for food or small amounts in Germany. You can also view your balance and print out account info at the ATM.
ⓘ Appointment Unless you are opening an online bank account, you will most likely need an appointment to open an account at a bank. You can either go directly to a branch, or phone/email them in advance (if you are able to). It can take a bit of time.
These services are provided free of charge as long as you use your bank’s own ATMs or an ATM operated by a bank in the same “Cash Group”. please keep in mind that if you withdraw cash from another bank’s machine, you will probably have to pay extra fees. Money transfers to another country can be very expensive, so it might be a good idea to ask your bank at home if it cooperates with any banks here before coming to Germany. You can set up standing orders or direct debits on your current account to pay your rent, telephone, or insurance so that you don’t need to keep that in mind each month. For the types of bank accounts you can have in Germany, please proceed here.
ⓘ EC Card/Credit Card You should keep the PIN of your EC or credit card secret and never note it anywhere near the card itself, as it is safer in case someone steals your card and the PIN together. Otherwise your bank account could be emptied very quickly.