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Opening a Euro account in Germany
Thread poster: Daniela Wolff

Daniela Wolff  Identity Verified
Local time: 18:01
Member
German to English
Aug 4, 2004

I would like to open a Euro account in Germany, so that I can take on more translation jobs from agencies in Germany that pay in Euros. Does anyone know of a bank that offers low or no charges for either a savings or current account and does not have a problem with a "foreigner" in the UK holding the account?

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Harry Bornemann  Identity Verified
Mexico
English to German
+ ...
Maybe Postbank or Consors Aug 4, 2004

www.consors.de is a web bank actually meant for broking, but they also offer a free current account.

www.postbank.de should also do: in most European countries the post does not require a permanent stay to open an account.


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Daniela Wolff  Identity Verified
Local time: 18:01
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German to English
TOPIC STARTER
Thank you Aug 4, 2004

Thank you Harry, I will try those.

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Kim Metzger  Identity Verified
Mexico
Local time: 12:01
German to English
Opening a Euro account in Germany Aug 4, 2004

Daniela Wolff wrote:

I would like to open a Euro account in Germany, so that I can take on more translation jobs from agencies in Germany that pay in Euros. Does anyone know of a bank that offers low or no charges for either a savings or current account and does not have a problem with a \"foreigner\" in the UK holding the account?


Hi Daniela,
I opened a German checking account several years ago and it\'s been great for business. 90% of my clients are German and another 5% are located in EU countries. These clients greatly appreciate being able to transfer money to a German account. A few years ago I walked into a branch of Commerzbank with my German sister-in-law who served as a guarantor. I told them I\'m a US citizen living in Mexico and they opened the account, issued me an ATM card and later a credit card.
Cheers, Kim


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Daniela Wolff  Identity Verified
Local time: 18:01
Member
German to English
TOPIC STARTER
Thank you Aug 4, 2004

Thank you Kim. I will definitely go ahead with opening an account, as you have confirmed my thoughts that German clients prefer to pay in Euros to an account in Germany.

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Trudy Peters  Identity Verified
United States
Local time: 13:01
German to English
+ ...
There are several banks Aug 5, 2004

in Germany where you can open an account as a foreigner.

I'm in the USA and opened an account with Advance Bank several years ago. It was the Internet Branch of Dresdner Bank, which last year abandoned it and incorporated the accounts into the "mother" bank. It is indeed a big advantage having an account in Germany if you have German clients.

If you do some googling, you'll find several banks offering accounts for foreigners.

HTH,

Trudy


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Gillian Searl  Identity Verified
United Kingdom
Local time: 18:01
Member (2004)
German to English
Volksbank Aug 5, 2004

Volksbank opened me a bank account when I was living in the UK and I didn't even have to visit Germany.

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Michaela Müller
Germany
Local time: 19:01
English to German
+ ...
Deutsche Kreditbank? Aug 5, 2004

Two weeks ago, I heard about the free current account offered by the Deutsche Kreditbank AG. It is highly recommended by Stiftung Warentest in their July issue. I don't have any experience with DKB, so I'd suggest you read all the general conditions [http://www.dkb.de/produktbedingungen.html] first.
The best thing is that you can withdraw money for free at all ATMs in all states who belong to the Euro zone.

To me, it seems to be the best free account, because you don't need to have a regular income of € 1000/month or more like at Postbank [otherwise it costs € 5.90].

The selection of your country is part of the registration process, so I don't think there are any restrictions regarding citizenship.

Michaela


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Daniela Wolff  Identity Verified
Local time: 18:01
Member
German to English
TOPIC STARTER
Thank you Aug 6, 2004

Michaela Müller wrote:

Two weeks ago, I heard about the free current account offered by the Deutsche Kreditbank AG. It is highly recommended by Stiftung Warentest in their July issue. I don't have any experience with DKB, so I'd suggest you read all the general conditions [http://www.dkb.de/produktbedingungen.html] first.
The best thing is that you can withdraw money for free at all ATMs in all states who belong to the Euro zone.

To me, it seems to be the best free account, because you don't need to have a regular income of € 1000/month or more like at Postbank [otherwise it costs € 5.90].

The selection of your country is part of the registration process, so I don't think there are any restrictions regarding citizenship.

Michaela



Excellent advice! Thank you Michaela. I had looked at the Deutsche Postbank website too, and when I tried to register, the only country that could be selected for the address was Germany. I will look into DKB today.


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Daina Jauntirans  Identity Verified
Local time: 12:01
German to English
+ ...
DKB Aug 8, 2004

I took a look at this site, and it seems they only offer business accounts to certain professions.

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Daniela Wolff  Identity Verified
Local time: 18:01
Member
German to English
TOPIC STARTER
I tried DKB Aug 12, 2004

Daniela Wolff wrote:

Michaela Müller wrote:

Two weeks ago, I heard about the free current account offered by the Deutsche Kreditbank AG. It is highly recommended by Stiftung Warentest in their July issue. I don't have any experience with DKB, so I'd suggest you read all the general conditions [http://www.dkb.de/produktbedingungen.html] first.
The best thing is that you can withdraw money for free at all ATMs in all states who belong to the Euro zone.

To me, it seems to be the best free account, because you don't need to have a regular income of € 1000/month or more like at Postbank [otherwise it costs € 5.90].

The selection of your country is part of the registration process, so I don't think there are any restrictions regarding citizenship.

Michaela



Excellent advice! Thank you Michaela. I had looked at the Deutsche Postbank website too, and when I tried to register, the only country that could be selected for the address was Germany. I will look into DKB today.


I went on the DKB website and filled out all of the forms for opening an account. Then I printed them out and wanted to send them off, but they required "PostIdent", whereby you identify yourself at a German post office before sending the documents. When I phoned DKB, asking what other option there was for proving my identity, they told me that, as I did not have an address in Germany, I would not be able to open an account anyway. What a shame! I will try a Volksbank now and see whether they want my money.


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TranslationAsia
English to Malay
+ ...
What is the website or branch to visit? Aug 29, 2004

Gillian Noameshie wrote:

Volksbank opened me a bank account when I was living in the UK and I didn't even have to visit Germany.


Hi Gillian,
what is the website or the Volksbank branch to visit? Could I visit a branch outside the UK?

Regards,
Dennis


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Ralf Lemster  Identity Verified
Germany
Local time: 19:01
English to German
+ ...
'Volksbanken' are local banks Aug 29, 2004

Hi Dennis,
what is the website or the Volksbank branch to visit? Could I visit a branch outside the UK?

Just to make sure that we're on the right track here: a Volksbank is a cooperative bank (most of them were founded as credit cooperatives, and many have roots in the agricultural sector). Volksbanken are generally local institutions; following some recent mergers, some have expanded to cover a region, but I'm not aware of any such bank having branches outside Germany.

HTH, Ralf


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TranslationAsia
English to Malay
+ ...
Opening an EURO bank account in Germany from non-EU person Aug 30, 2004

Danke Ralf,

While my situation still remains unchanged
I have added this on the "Title" section:
"Opening an EURO bank account in Germany from non-EU person"

If you've any ideas let me know please. Meanwhile, these are the things I have tried finding out:

Checked with Postbank.de. (unable to proceed because I do not have the PostIdent/physical address in Germany and perhaps also Police Record - something like that) But I heard that I still apply (see above thread by someone else - I can't open it while writing this)

Also I haved asked (emailed) SparkassenBank Dresden, they told me it's possible but I have to travel to their particular branch. Which still isn't a concrete answer/ What if when I am there, they "made a mistake" and said sorry you can't.


Best regards,
Dennis


Ralf Lemster wrote:

Hi Dennis,
what is the website or the Volksbank branch to visit? Could I visit a branch outside the UK?

Just to make sure that we're on the right track here: a Volksbank is a cooperative bank (most of them were founded as credit cooperatives, and many have roots in the agricultural sector). Volksbanken are generally local institutions; following some recent mergers, some have expanded to cover a region, but I'm not aware of any such bank having branches outside Germany.

HTH, Ralf


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HC123
English
What about account in other EU countries Sep 13, 2004

Hi all,

I too am in desperate need for a German bank account, as many potential German customers have turned away because I cannot accept a bank transfer.

I came across this website. http://youth.cec.eu.int/movingeu/en/host/EN.Bulgaria.htm In the website, it talks about how a foreigner in Bulgaria can open a bank account with passport and usd100. Anybody has experience with that? I was thinking of this as an alternative since EU is now a common area & i just need an account in the EU region for my custoemrs to do an IBAN transfer.

Also, it sounds easy to use Google to search for ways to open German bank account as foreigner. However, I don't seem to have much success with Google. Any more specific advice?

Thanks a trillion!


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