Germany: Bank Account

German Bank account

Girokonto ( Current Account ) This is current account, which is mandatory to get your salary credited to your account. You cann't live without this account. Most financial transactions are completed using this type of account, such as receiving wages or paying rent. In general, a current account allows you to: withdraw money from your bank using an EC-card. This is normally free of charge at your own bank's ATMs, but a fee of several EUR may be charged for withdrawing money from other banks' ATMs transfer money to pay bills using transfer forms set up regular fixed amount payments (e.g. your rent) paid by standing order set up regular payments (even of variable amounts, e.g. telephone bills and health insurance contributions) to be paid by direct debit. Interest rate: 0% Documents required to open this account: Passport Letter or contract of employment from your employer Salary slip Anmeldung Once you have opened this account, provide following account information to your employer, so that salary will be credit to this account. BLZ :  This is unique code of bank where you have your account. Account Number Note: Your bank statements are required for tax return and other purposes in future, so Download your bank statements in pdf format every month/quarter and keep them safe for future reference.  Below is a list of bank where fellow Indians have opened their account and their experiences with these bank branches. Hope it helps to take your decision. If you would like to add any comments, you can do so. Please write us to get access.

Bank Name	Address	City	Comments	Website	Recommended
Sort	Sort	Sort	Sort	Sort	Sort

Deutsche Bank			No opinion	Deutsche Bank
Deutsche Bundesbank			No opinion	Deutsche Bundesbank
Commerzbank		All Major cities	No comment	Commerzbank
Postbank		All cities		Postbank	Y
LBBW		Stuttgart	Good	LBBW	Y
HypoVereinsbank		All Major cities	Check the terms and conditions. There is option to have account without monthly fee.	HypoVereinsbank	Y
Targo Bank (Former Citibank)		All Major Cities	On the spot money transfer to Indian citibank account via online banking	Targo Bank -Citibank	Y

Credit: http://www.germanymantra.com/