SEPA Bank Account

We recommend opening a bank account with a German or European IBAN for your stay in Germany. In many cases, payments in Germany (e.g. monthly rent for accomodation) are made via bank transfer or through the so called 'Lastschriftverfahren' (direct debit). With this arrangement you authorize the payee (e.g. your landlord) to automatically deduct your monthly rent or similar payments from your account.

You can open a bank account at any (direct) bank or savings bank. Bank accounts are often free of charge for students and for people up to a certain age. Since bank terms and conditions vary, we recommend that you compare the different offers.

To open a bank account, you generally need the following documents:

• Valid ID card or passport
• Certificate of residence registration
• Certificate of enrolment from the University of Cologne
• Tax identification number/tax ID