Opening a bank account

You must open a giro bank account in order to receive your wages/salary and to transfer your rent, insurance premiums and pay other bills.

You can find a number of banks in Augsburg listed in the Das Örtliche phone book. Most banks are open Mon-Fri from 9 am to noon and from 2 pm to 3:30 pm. A number of banks remain open until 6 pm on different days during the week. You can also find online banks that require you to open an account and conduct all transactions over the Internet.

Help making a decision

Asking the following questions may help you decide which bank is right for you:

• What are the fees for a giro account?
• Do the fees include an EC card or are there added costs?
• Are wire transfers free?
• Does it pay interest?
• How much money can you withdraw per day or per month?
• How high is your overdraft credit?
• How many branch offices does the bank have and where can you use the EC card to withdraw cash free of charge? Please note that you may be charged a fee by other banks for using their ATMs.

How to open an account

You will need your personal identification or a valid passport with photo ID as well as proof that you are registered as a resident issued by either the Resident Registration Office (Einwohnermeldeamt) or the Foreign Office (Ausländerbehörde). This can, however, also be handed in at a later date. Please inquire at the bank regarding any other documents that will be required to open an account.

You will usually receive a bankcard or EC card (giro card) after opening an account. You can use the bankcard to withdraw cash or print statements from ATMs or at the bank. You can use the EC card to for cashless payment in many stores and restaurants.

You will receive a PIN in the mail shortly after opening an account. Your PIN is the code that allows you to access your account with your card. You will have to enter this number or sign the receipt when using your EC card at a store.

Please remember to close your account before you leave Germany. You can arrange for your account to be officially closed on a day after your departure. Please return your bankcard or EC card to the bank before leaving.