Best Bank Accounts & Highest Welcome Bonuses in Germany Right Now

Finding the best banks in Germany isn’t about choosing the biggest name — it’s about picking the ones that actually offer value. In this guide, I’ve rounded up the best current accounts in Germany right now — the ones that stand out with high welcome bonuses, cashback, or a great modern app and English-language support.

We’ll also go through the types of accounts that exist in Germany and talk about what really matters when opening a bank account — from fees and bonuses to the cards you get and how good the app actually is. The shortlist of best banks in Germany will be updated regularly as new offers appear, so it’s worth bookmarking if you want to make sure you’re always getting the best deal available. To make sure you don’t miss new banking offers when they appear, subscribe to the Smart Living newsletter – I share the best ones every week, along with shopping deals and money-saving tips.

Before comparing the best banks in Germany, it helps to understand the main account types that exist here:

Looking for the best bank in Germany can feel daunting – there are so many options to choose from, each with different conditions and lots of fine print. But if you know what to pay attention to, choosing the right bank for your needs becomes easier. Here’s what actually matters:

I’m of the strong opinion that you shouldn’t pay a monthly fee for a bank account in Germany – there’s just no reason to. With so many options for a free account from the best banks in Germany, paying a fee just feels unnecessary. The only time I’d consider it is if the welcome bonus is very high (say, around €200); otherwise, go for a free one.

A lot of the best bank accounts in Germany are free under the active usage conditions: read carefully what these conditions are. Sometimes you must receive salary or pension there (this is the most restrictive option, because you can only get salary in one bank account). Sometimes any incoming transfer will do – in which case you can simply set up a monthly automated transfer from one of your other accounts. Sometimes it's a certain number of monthly transactions – also quite easy if it's a card you plan on using.

Welcome bonuses from the best banks in Germany can be very lucrative – often between €75 and €200 just for opening a bank account and meeting a few simple conditions. The requirements are usually straightforward: qualifying incoming transfers, a few card payments, or active usage in the first few months. Even if you don't need a new bank account, sometimes it might be worth opening one just for the bonus alone.

Just be careful not to confuse the conditions for getting the bonus with those for keeping the account free – they’re often different. I always list these conditions separately when I describe the best banking offers in Germany below, but make sure you read the fine print when you open a new account anyway.

Besides welcome bonuses, some of the best banks in Germany also offer long-term perks like cashback or small ongoing rewards for using their cards. These might not look as exciting as a big sign-up bonus at first, but over time they can easily add up and bring you better overall value in the long run.

Every free account at the best banks in Germany usually includes at least one card for free, typically a debit card or a Girocard. Sometimes you can order an additional one, like a credit card, for a small monthly fee – but you can easily build a wallet of all the cards you need in Germany without spending anything. I go over the types of cards you need in the next section.

If you use your account often, the usability of the app matters a lot. Some banks still look and feel like they were designed in 2002, while others are genuinely pleasant to use. For example, N26 earned a place in this list of the best banks in Germany because of how great their app is, and the Trade Republic app has improved a lot – it’s now better than most banking apps, even though it started as an investment app. If you’re opening an account primarily for a welcome bonus and aren’t planning to use it very often, the UX won’t matter as much.

I personally prefer banks that are fully digital – I can’t remember the last time I set foot in a branch, and I’d like to keep it that way. All the accounts in this list of the best banks in Germany can be opened and managed online, and most of these banks don’t have physical locations at all, with the exception of Berliner Volksbank and BBBank.

Some banks on this list of the best banks in Germany offer their apps and websites in English, while others don’t. For accounts I use less often, I don’t mind if the interface is only in German, but for my everyday ones, I really prefer to have everything available in English – it just makes my life easier. Whenever a bank offers its app and website in English, I mention it in my list – if not, it’s safe to assume they’re only available in German.

Back in the day, to earn interest you had to open a separate savings account and park money there for a while. These days, many of the best banks in Germany also pay interest on your current account balance, so you can keep things simpler. I personally keep my savings with Trade Republic, which matches the current ECB rate (2%), but if you have a lot of savings, you might want to move your money to a bank that offers a higher interest rate (you will find some good options in part 2 of this guide).

Don’t worry too much about whether a bank is “big and reputable.” In the EU, deposits are protected by law up to €100,000 per person per bank, and Germany follows the same rule. Even if a bank in Germany were to default (which hasn’t happened for decades anyway), your money up to that limit would still be safe. Smaller, lesser-known banks often have higher interest rates and the best bank bonuses in Germany, so there’s no reason to avoid them.

For debit cards, I recommend having both a Visa and a Mastercard – they often come with different promotions. For example, FreeNow offered €15 off when paying with Mastercard a few months ago, while Visa frequently runs their own cashback offers. Choose a bank from this list of the best banks in Germany that gives you either a high welcome bonus, or good cashback, or whose app you really like – there is something for everyone.

If you travel outside the Eurozone or shop online in currencies other than euro, make sure at least one of your cards has no foreign transaction fees. I mostly use my everyday debit cards when I travel: both Trade Republic and N26 are great examples from the list of the best banks in Germany that don’t charge any FX fees.

To make things easier, I’m splitting the best banks in Germany into two groups – first, the accounts with the highest welcome bonuses, and then those that stand out for other reasons like cashback, interest rates, or a great app.

The bonus is paid out in the fourth month after opening, directly into your account. Despite the name, you don’t need to live in Berlin to apply – the offer is available nationwide to new customers who haven’t had a current account with Berliner Volksbank in the past twelve months. This promotion combines a high payout with straightforward conditions, and it’s been a reader favorite for many months for a reason – it’s one of the best banking offers in Germany right now. Apply here.

BBBank’s current account comes with a welcome bonus of up to €150, and it's one of a few banks on this list of the best banks in Germany that have physical branches, if this is important to you. Branch visits are optional though – you can sign up online. The account is free for anyone under 30, and for others it’s free for the first 24 months before a €2.95 monthly fee applies. The Girocard is also free for the first two years, then €11.95 per year.

You get €50 simply for opening the account, plus an additional €100 if you use their account switching service (Kontowechselservice) and transfer at least three payment partners within the first three months. “Payment partners” means anyone who regularly sends or receives money from your account – like your employer, landlord, insurance company, energy provider, magazine publisher... you name it. The switching service can notify them for you or generate PDFs if you prefer to handle it yourself, and the setup only takes a few minutes.

The full €150 bonus is paid within about eight weeks after meeting the conditions. This is one of the highest bonuses available right now, which is why BBBank earned a place among the best banks in Germany right now. It’s a solid deal if you prefer a traditional bank with physical branches but still want a competitive welcome offer. Open an account here.

You can withdraw cash for free at Commerzbank ATMs or up to three times per month abroad with the Visa card. The €100 bonus is lower than what Berliner Volksbank or Consorsbank offer, but the conditions are also much simpler than at the other banks from this list of best banks in Germany – there’s no long-term commitment or complicated setup. If you want a straightforward free account with a decent bonus and an established name behind it, comdirect is a solid pick. Open your account here.

1822direkt isn’t as well-known as some of the bigger banks from this list of the best banks in Germany, but their current account is one of the better offers on the market right now. New customers (or those who closed their account more than 12 months ago) can get a €75 bonus for opening a free account and making at least three payments with the included Girocard within the first four months.

Finding the best bank in Germany doesn’t have to be complicated – once you know what to look for, it’s mostly about matching the right combination of accounts and cards to your habits. Whether you’re after a big welcome bonus, a great app, or a high interest rate, there’s something for everyone out there.

Part two of this guide will be out next month, and it will cover the best savings accounts with the highest interest rates, my favorite credit cards in Germany, best business accounts, plus cards to use for travel and international transfers. If you’d like to get it straight to your inbox (along with my weekly picks for the best deals on shopping, grocery freebies, insurance tips and more), make sure you’re subscribed to my newsletter. Click here to subscribe.

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