Benefits

Opening a bank account (basic account)

Consumers lawfully resident in the EU are entitled to a basic payment account (Basiskonto) from banks; BaFin supervises compliance.

Last updated: 5 October 2026 · Draft – not yet editorially reviewed.

A basic payment account (Basiskonto) is a protected bank account for consumers who are legally resident in the EU and do not already have a payment account in Germany. It works like a current account and is also available to people without a permanent place of residence, asylum seekers, and people with temporary suspension of deportation (Duldung). 1 2

Who needs this

You can apply for a basic payment account if you are legally resident in the EU and do not already hold a payment account in Germany. 1 2
This also applies to people without a permanent place of residence, asylum seekers, and people with temporary suspension of deportation (Geduldete). 1 2
A bank may not arbitrarily refuse to open a basic payment account or close it without a valid reason. 1 2

Step by step

Ask the bank explicitly for a basic payment account under the German Payment Accounts Act (Zahlungskontengesetz, ZKG), or agree on this with the bank. 1 2
Use the application form for a basic payment account. You can get it from the bank in person, by post, or on the bank’s website. Using the form is not required, but it helps avoid missing information and speeds up the process. 1 2
Submit the completed form to the bank. The bank must confirm receipt of your application. 1 2
The bank has ten business days to review your application and offer you a basic payment account. 1 2
If the bank rejects your application, you can ask BaFin to start administrative proceedings, take the matter to a civil court, or contact the competent consumer dispute resolution entity. 1 2

Documents

A valid identity document is required because the bank must verify your identity. 1 2
Accepted documents include valid official photo ID, such as passports and identity cards from Germany or recognized under foreign law, or substitute documents for these forms of identification. 1 2
For asylum seekers, the certificate confirming permission to remain pending the asylum decision (Aufenthaltsgestattung) also counts as substitute documentation. 1 2
A suspension of deportation certificate (Duldungsbescheinigung) and an arrival certificate (Ankunftsnachweis) are accepted. 1 2
A provisional residence document (Fiktionsbescheinigung) is not enough. 1 2
For people without a permanent place of residence, a postal address is sufficient; this can be the address of relatives, friends, or an advice centre. A registered home address is not required in that case. 1 2

Cost and time

The bank may charge only reasonable fees for a basic payment account. 1 2
BaFin’s administrative proceedings are free of charge. You must pay any postage or other correspondence costs yourself, and legal or consulting fees are not reimbursed. 1 2
If the bank wrongly refused the account, BaFin orders the bank to offer the account. 1 2

Deadlines

After you submit the completed application form to the bank, the bank has ten business days to review it and offer you a basic payment account. 1 2
If the bank has agreed a right of termination, it may terminate the account with at least two months’ notice in certain cases, including no payments for more than 24 months, no longer meeting the criteria for the account, having another usable payment account, or refusing a contract change under section 675g BGB. 1 2
Even without an agreed right of termination, the bank may terminate with at least two months’ notice in certain cases, including intentional criminal conduct against the bank or non-payment of fees for more than three months when the arrears exceed 100 euros. 1 2
Extraordinary termination without notice is possible if the account is used intentionally for illegal purposes or if false information was given to conclude the contract. 1 2