There are a whole lot of reasons, why people outside Germany would like to have a bank account in Germany. Keywords are: work in Germany, investment account in a safe country, better conditions.
Unfortunately, too many banks are still rejecting the opening of a current account for EU-citizens, who is no German citizen and only lives since recently in Germany or has its residence outside Germany.
Rejection because of nationality vs. business decision
Fortunately, we live in an economic system in which two parties – in our case a human being and a bank – can decide freely, whether they want to start a contractual relationship or not.
The bank can choose freely, whether it approves or rejects the application on opening a bank account.
However, it is not okay, if a bank refuses to open a current account, because the applicant is from another EU-country or has his/her residence there. This is not compatible with the EU-law that people are discriminated because of their nationality.
= it is forbidden to reject bank account because of the nationality!
Challenges for the German bank industry
The biggest challenges for the German banks are:
- Credit Assessment of applicants for a bank account
- Identification of applicants
Especially the two top-banks of our special-portal DKB and Comdirect are popular among customers in Germany and abroad, as these banks provide the best conditions since years. As a standard, they offer a free Visa credit card with the bank account, with which one can withdraw cash free of charge, all around the world.
Credit Assessment based on the Schufa (Credit Investigation Company)
A bank would only want to give such an account to customers that have a certain credit-worthiness. For people living in Germany, the credit-worthiness can be requested easily via the Schufa. Although one is already working on European cooperations, this is not yet well-engineered by a lot of countries.
Legitimacy via PostIdent
Additionally, there is also the unequivocally proven identification of the bank customer, which is required by German law. In Germany, the PostIdent-procedure has established itself for online banks. This, however, can only be implemented in post offices within Germany.
The DKB and Comdirect also accept other methods, such as notaries in EU-countries as well as in other foreign countries.
Rejection because of Nationality
If you have applied for a current account at one of our top banks DKB or Comdirect and it was rejected, then you have the right to complain as a EU-citizen. In order to have success – so achieving the opening of your current account –, you should ask for a written statement of the reasons of rejection.
If the bank writes that it does not accept citizens from other EU-countries than Germany or only German citizens, then this is discrimination. You are free to complain. At the DKB, this would be the ombudsman (public defender of rights) of the public banks and at the Comdirect the one of the private banks.
If you want to have an account at a German bank, then you should be able to understand, speak and write the German language basically. Not only, because the contractual relationship is in German language, but also, because you have to communicate meaningfully with the bank.
There is also the possibility to file a complaint via FIN-NET, the dispute resolution network for financial services within the European Union. This has the advantage that you can write your complaint in your native language.
FIN-NET will translate your complaint and forward it to the national banking association, which is responsible for the respective bank.
We help you too!
If the account opening at one of the banks we recommend was rejected due to the fact that your nationality is non-German, but from one of the other EU-countries, then please contact us via the comment box at the bottom of the page of the German version of this article: www.deutscheskonto.org/de/ablehnung-eroeffnung-bankkonto.
We would love to support you with your complaint at FIN-NET and in the best case, celebrate together with you the opening of your bank account in Germany.
With our special-portal, we work for and want to achieve that people independently from their nationality, ideology, religion, colour or sexual preferences can open an excellent bank account in Germany.
However, the credit-worthiness must be okay. It is understandable that a bank, whether in Germany or elsewhere, is cautious when opening an account, if the debts exceed the assets. Nevertheless, German banks may also reconsider the policy of the automatic credit line. Maybe it is possible to set up a bank account with Visa credit card initially on credit basis?
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Images: Antonioguillem (fotolia.com)