6 Best Online Banks in Germany [2024 Guide]

If you’re on the hunt for the most reliable and best online banks in Germany, you’re in luck. There are plenty of great options to choose from, offering everything from exceptional credit card rates, customizable debit card options, and mobile banking.

With an online bank, you can easily manage your money from anywhere, access unique financial services, and even run your business more effectively in Europe.

Since we know how difficult it can be for entrepreneurs to find the right banking services in Europe, we’ve done the hard work for you.

Here’s our guide to some of the most popular and reputable online banks in Germany.

Top Mobile Banks in Germany

1. Revolut – Best overall
2. Wise – Best Online Bank for Foreigners
3. Bunk – Best Premium Current Account
4. N26 – Best Free Current Account
5. Tomorrow – Best for Sustainable Banking
6. Vivid Money – Best Fot German Residents

Defining Online Banking: What is an Online Bank?

First, it’s worth establishing how an online bank differs from a traditional banking service. An online bank is similar to a standard banking service, except it gives you the freedom to manage your money, services, insurance, and transactions on the web.

Using a mobile app or a web browser, you can set up standing orders, issue payments, and even control your overdraft in real-time, without visiting a physical branch.

Online banking has become extremely popular in today’s digital-first world. Around 59% of Germans use internet banking today.

One of the great things about online banks is their versatility. The best banks offer different types of international and German bank account options for different needs.

Some will just allow you to check bank statements and request new cards. Others will give you access to cashback services, tools for converting currencies, and more.

The Best Online Banks in Germany: 6 Great Choices

As mentioned above, there are plenty of different online banking options to choose from in Germany. The right option for you will depend on your specific service requirements, your budget, and other factors.

We chose the following banks based on their versatile banking options and features, their ease of use, reliability, and overall reputation.

1. Revolut – The Best Overall Mobile Bank for German Users

Our number one pick for the best online bank in Germany is Revolut. Not only is this one of the most popular banks for German customers, but it’s one of the top European banking brands too. Today, the Revolut digital bank supports customers in more than 200 regions and countries.

Revolut is a fully-fledged banking service, licensed by the bank of Lithuania, and it offers a wide variety of services, including credit and debit cards, loans, and insurance.

The solution supports currency conversion for international payments, and has its own dedicated investment app.

Plus, Revolut has a fantastic reward scheme for certain accounts. You can earn up to 4.75% interest on your money with “Savings Vaults”, and you can get cashback from specific purchases.

The open banking platform can even integrate with budgeting tools and other apps.

With Revolut, you can block transactions, track subscriptions, trade shares, and even buy crypto for your digital wallet, all in one place.

Pricing

You can sign up for a standard account with Revolut for free. This plan includes built-in savings tools, budgeting, transaction management, and other basic features.

Premium plans start at around £2.99 per month for extra cashback and unique features.

There are “Premium” plans, starting at £6.99 per month, “Metal” plans for £12.99 per month, and the “Ultra” plan for £45 per month.

The more you spend on your account, the more features you unlock, such as improved interest rates, deals on insurance, and free cash withdrawals from various ATMs.

2. Wise – Best for Foreigners

Probably the most well-known online banking company on this list, Wise (formerly TransferWise), isn’t technically a “bank”, but a money transfer service.

What really makes it stand out from the competition is it’s affordable international transfer rates. Wise also offers users access to a handy multi-currency account, where they can hold more than 40 different currencies at once.

Wise is easy to use and intuitive, with a mobile and web app where users can manage money transfers, access budgeting tools, and hold, exchange, or top-up currencies.

Wise also provides users with access to a multi-currency visa debit card, so it’s great for travelling.

There are comprehensive accounts for business leaders, with specialist tools for easily paying your suppliers, partners, and your employees. Plus, there are no setup fees or monthly charges. As a bonus, Wise comes with fantastic security and fraud prevention features, for peace of mind.

Pricing

Anyone can register for a Wise account for free, and there are no setup fees. However, there is a limit on the amount of cash you can withdraw. Once you withdraw more than £200 a month, you’ll have to pay a 1.75% fee whenever you visit an ATM.

Plus, you will have to pay fees for international money transfers – though they’re some of the lowest fees in the industry, starting at around 0.43%. Additional services can also incur extra costs.

3. Bunq – Best Premium Current Account

Bunk is a Deutsche bank or “neobank” that supports both online and mobile banking. It offers a range of banking options to customers, from savings accounts to current accounts, as well as business account options.

Plus, Bunq has a permit granted from the ECB, which means your money is always insured up to €100.000.

Bunq offers fantastic interest rates across all of its accounts, as well as a great “easy money” account, which allows you to use multiple EU IBANs and over 15 different currencies. Since Bunq also partners with Wise for money transfers, this means you still get the amazing transfer fees and international exchange rates you’d get from Wise too.

One great thing about Bunq is how proactive its mobile app is about keeping you up to date. You can set up notifications to help you manage your spending, and track payments.

Pricing

Like most of the best German banks, Bunq has a free plan, called its “Easy Savings” account, which offers basic money management tools and a savings account with up to 2.46% interest.

Paid accounts start at €2.99 per month for the “Easy Bank” option, which includes a physical card, and various other features. There’s also the “Easy Money” option for €8.99 per month, and the “Easy Green” plan for €17.99 per month, which plants a tree for every €100 you spend.

Notably, Bunq does charge fees for ATM withdrawals, which can range up to €2.99, making it one of the more expensive options on this list.

4. N26 – Best Free Current Account

Not only is N26 one of the best-known mobile banking companies in Germany, but it’s also one of the top-rated banks in the world. With more than 7 million customers worldwide, N26 stands out as one of the most reputable international banks, and one of the most versatile.

There are plenty of low-cost personal and business bank account options to choose from. Plus, N26 ensures you can easily keep track of your spending, with access to a ton of reporting tools and budgeting insights.

You can set up push notifications to get alerts to your phone, and create “sub accounts” to help you achieve different savings goals.

N26 even works seamlessly with Google Pay and Apple Pay, so you can make contactless payments on the move. Plus, its apps are available to access in a range of languages, from German, to French and Spanish. Similar to Bunq, N26 also has an integration with Wise for bank transfer services.

Pricing

If you’re looking for an account without a monthly fee, N26 has you covered. There’s a simple free checking account available, which doesn’t cost anything to access.

Also there are a range of personal and business account options, with unique features. Fees for personal accounts range from €4.90 to €16.90 per month, with more expensive accounts offering advanced features.

Business accounts range from €4.90 to €16.90 per month and include extra features like cashback, and two-factor authentication.

5. Tomorrow – Best for Sustainable Banking

Of all the different banks mentioned here, Tomorrow is perhaps the most attractive for those with a eco-conscious mindset. Tomorrow is all about making financial services more sustainable. It helps companies offset their carbon footprint, and even offers a range of different bank card options, including some that are made with wood.

The Tomorrow banking app is fantastic too. Here, users can track their financial health in the “Insights” section, and get tips on how to improve their budget. Plus, unlike many traditional banks, you can use Tomorrow to create “sub accounts” for different purposes.

Tomorrow offers attractive pricing for foreign transactions, as well as interesting perks for customers, like “Tomorrow Funds”. There’s also support for a range of different payment options, including Google and Apple pay.

You can even withdraw money from around the world and pay other businesses without any extra charges.

Pricing

The account fees for Tomorrow are pretty low. There’s a free bank account option, though this comes with withdrawal fees of €2 at ATMs. Other accounts start at €3 per month, and range up to €15 per month for the Zero card, which gives you unlimited free withdrawals wherever you are.

6. Vivid Money

Vivid Money is an innovative online banking solution for local German business owners, everyday people and expats. The award-winning mobile banking solution offers some fantastic interest rates on some of its products, allowing users to earn up to 5.39% per year on euros and USD.

The company also combines a checking account with cashback features, allowing users to save up to 25% on everyday purchases. There are tons of account options to choose from, some of which come with tools for budgeting, as well as options to help you control your subscriptions.

Plus there’s a great “interest rate pocket”, which keeps your money save and safeguarded by the Dutch Investor Compensation scheme. You can even track the growth of your savings in real-time. Plus, unlike most private banks, Vivid Money supports crypto saving and investing too.

Pricing

There are a few different accounts available from Vivid Money including the “Vivid Standard” plan, which is free for active customers, or €3.90 per month. Alternatively you can opt for Vivid Prime, which costs €9.90 per month after a free trial. The more expensive plan comes with better interest rates and more options for organizing your currencies in different pockets.

Choosing the Right Online Bank in Germany

Whether you’re moving to Berlin with a resident permit, visiting Germany, or just setting up a business in Europe, there are plenty of great online banking options to choose from.

All of the options above come with plenty of versatility to suit different banking needs, as well as fantastic benefits like fee-free transfers and high interest rates.

Most of these companies can deliver support with English speaking customer service teams too, so if you do encounter any issues, you don’t have to worry about a language gap. Good luck finding the online banking solution that’s right for you.