In case you are planning on a longer stay in Germany, it's highly recommended to open a German current account (Girokonto). Following are the advantages:
Many banks offer students a special student account with particularly favorable conditions and additional functions. The main advantages of a student account are:
You can pay by credit card not only in Germany but worldwide on very favorable terms, which makes the flexibility of a credit card. Besides, many online shops accept payment by credit card. Many banks offer students credit cards on very favorable terms and sometimes without an annual fee. With a student credit card, students often only pay for the transaction fees they incur, for example for cash withdrawals. These vary greatly from bank to bank, so a comparison can pay off! In general, student credit cards offer the same payment features as regular credit cards.
The credit card account provides students with a credit line (Kreditrahmen) or credit limit (Kreditlimit) that they can dispose of. An exception is the student credit card account on a credit balance basis (Guthaben basis), where credit has to be transferred to the credit card account before use. Here only the money available on the credit card account can be used.
Often the credit card account is directly linked to a reference or checking account. For example, due amounts of the credit card account are automatically debited monthly from the reference account. The amount of the credit limit granted for student credit cards is at the discretion of the bank and depends on various factors, which are clarified during the credit check. Especially regular income and financial liabilities are crucial. A higher credit line is often associated with a wider range of services. Whether it is a student credit card or a regular credit card does not matter.
Of course, there are also various additional services for credit cards. For example, some banks offer cashback programs or discounts.
To open a student account, the bank requires proof that the account holder is currently a student. For this, you usually have to submit your matriculation to your bank for each new semester.
Besides, most banks restrict the use of the student account to the age between 18 and 25 years old.
Students also have the opportunity to open their bank account online. In just 10 minutes you have the opportunity to complete the process of opening the online student account. To do this, click on the website of the bank you want to use for the student account and select the function "Open Online Account". An application will appear, which you must fill out below.
Banks are required by law to verify the identity of their customers before opening and using a bounty account. To do this you go to the nearest post office with the completed form, your identity card, and a student certificate. A postal worker will verify your identity and issue a confirmation. Afterward, the application form with the confirmation of the personal data can be sent to the responsible bank.
In conclusion, opening a bank account requires but not limited to the following documents:
All in all, a current account will make your financial transactions in Germany a lot easier. As a student, you can enjoy a lot of benefits that a student account and student credit card have to offer. The opening of a student account is online and not too complicated, but you will need to provide all the documents proving that you are currently a student aged between 18 and 25 years old. Remember to check with your providing banks for more detailed information. Good luck！