German Bank Account Fees: What to Watch For
What a German bank account really costs in 2026: free neobanks versus monthly fees at branch banks, the ATM and foreign charges, and how to avoid them.
Key Takeaways
- Neobanks like N26 and C24 offer free accounts, while branch banks such as Sparkasse and Deutsche Bank charge roughly €3-10 a month.
- Watch ATM limits, foreign-currency surcharges of about 1.5-2%, and whether the account gives a widely accepted Girocard or only a Mastercard.
- You have a legal right to a basic Basiskonto, which a bank cannot refuse without written justification even with no SCHUFA history.
A German current account — a Girokonto — can cost you nothing or quietly drain €150 a year, and the difference comes down to fees most newcomers never think to check. Germany's banking market is fragmented and old-fashioned in places, with charges hiding in monthly fees, cash withdrawals, foreign transactions and card types. This guide is about the costs; for the step-by-step of actually opening one, see our guide to opening a German bank account. Here is what to watch for.
Free neobanks versus fee-charging branch banks
The clearest split is between digital and traditional banks. App-based neobanks such as N26, bunq and C24 offer a genuinely free standard tier, while traditional branch banks like Sparkasse, Deutsche Bank and the Volksbanken typically charge a monthly account fee of roughly €3 to €10. Online direct banks such as DKB and ING sit in between, waiving their fee if a regular salary of around €700 or more lands each month. For most newcomers a free neobank is the obvious low-cost starting point.
Monthly account fees add up
A monthly fee sounds trivial until you annualise it. A €6.90-a-month branch account costs nearly €83 a year; a €10 one costs €120 — money for holding your own money. Traditional banks justify this with branches, cash services and in-person help, which some people genuinely value. But if you bank entirely by app, paying a monthly fee buys you little, and switching to a free account is one of the easiest savings available in your first months.
ATM and cash withdrawal charges
Cash is where free accounts can bite back. Neobanks often limit free ATM withdrawals — N26's standard tier allows a couple a month, then charges around €2 each — whereas traditional banks let you use their own large ATM networks free but charge heavily, sometimes €5 to €7, at machines outside their group. If you handle a lot of cash, a Sparkasse with its dense free ATM network can work out cheaper despite the monthly fee, so match the account to how you actually spend.
Foreign-currency and travel fees
Anyone with money or spending abroad should check these. Many accounts add a foreign-currency surcharge of around 1.5 to 2% on non-euro card payments and withdrawals, which quietly inflates every trip outside the eurozone. Neobanks and specialist accounts like Wise are often cheaper here, and some offer better exchange rates for sending money home. If cross-border spending is a regular part of your life, weigh this as heavily as the monthly fee.
The Girocard question
One quirk can cost you convenience rather than cash. Traditional banks issue a Girocard (the domestic debit card, once called the EC-Karte), which many German shops, landlords and services still prefer or require, while several neobanks issue only a Debit Mastercard or Visa that a few merchants reject. A card that is technically free is little use if a landlord will not accept it for a standing order, so check which card type comes with the account before relying on it as your only one.
Your right to a basic account
No one can be left entirely unbanked. German law gives everyone the right to a Basiskonto (basic account), and a bank cannot refuse you one without written justification, which protects newcomers with no SCHUFA history or an unusual status. A Basiskonto may carry a small fee and limited features, but it guarantees you an IBAN for rent, salary and bills — a useful fallback if a preferred bank turns you down while you get settled.
How to keep costs near zero
Keeping banking cheap is mostly about matching the account to your habits. Open a free neobank for everyday use, add a free or fee-waived direct-bank account if you want a Girocard and a salary-linked perk, and reserve a branch bank only if you genuinely need cash services or face-to-face help. Watch the ATM rules, the foreign-currency surcharge and any card fee, and review the account yearly. Do that and there is little reason ever to pay more than zero to hold your money in Germany.
Bank fees are small individually but persistent, and they are entirely avoidable with a little attention. Pick a free account that issues a card you can actually use everywhere, mind the cash and foreign-spending rules, and you keep this line of your budget at zero — leaving the real money for rent, the deposit and the move that brought you here.