Best Online Banks in Germany (2024)

Standing out from traditional banks with their particularly low fees, attractive exchange rates for international payments, user-friendly apps, and interesting features, online banks have had a lasting influence on the German banking industry in recent years.

Today, there are more online banks in Germany than ever before, which — as we'll see — can be both a curse and a blessing. This is because, while the intense competition leads to lower fees and better features, getting an overview of the options is becoming increasingly difficult.

In this guide, we introduce you to the seven best online banks in Germany and help you to find the best provider to meet your individual needs.

Open your Revolut account

How Monito Scores Online Banks

To determine which online banks scored better than others in Germany, we used a consumer-first framework to analyse several key factors. To begin with, we weighed a number of concrete metrics relating to factors such asfees and rates, ease of use, credibility, service and coverage, transparency, and customer satisfactionto piece together a reliable all-around picture of which top digital banks offer the savviest solutions to German residents.

Next, we explored these results and presented our findings in the form of a series of key takeaways that we believe you should know about the three digital banks ranked highest.

While we ranked these online banks on an overall list, bear in mind that this list does not mean that our choice for the Germany's best digital bank is necessarily the best choice for you. As you'll see, each online bank comes with its own unique set of pros and cons that may impact its overall relevance to you.

Without further ado, let's go through our rankings for the top online banks in Germany in 2024 —

1. Wise Multi-Currency Account Monito Score 8.9

   Monito Score

   • Trust & Credibility

     9.3

   • Service & Quality

     8.9

   • Fees & Exchange Rates

     7.6

   • Customer Satisfaction

     9.6

   • Languages

     English +21

   • Country availability

     Austria +37

   • Services

     Multi-currency account

   • Monthly fee

     Very low

   • Card delivery time

     Mid

   • Best for

     Spending while abroad

   • Bank details

     Euro IBAN +11

   • Supported currencies

     US dollar +50

   • Overdraft No
   • Annual interest rate

     Very low

   • Supports cash deposits No
   • International transfers Yes

   Read the full review Go to Wise Multi-Currency Account

2. Yuh Monito Score 8.6

   Monito Score

   • Trust & Credibility

     9.0

   • Service & Quality

     7.5

   • Fees & Exchange Rates

     9.4

   • Customer Satisfaction

     8.6

   • Languages

     German +3

   • Country availability

     Switzerland +5

   • Services

     All-in-one finance app +1

   • Monthly fee

     Very low

   • Card delivery time

     Fast

   • Best for

     Trading stocks or cryptos

   • Bank details

     Swiss IBAN

   • Supported currencies

     Swiss franc +12

   • Overdraft No
   • Annual interest rate

     Low

   • Supports cash deposits No
   • International transfers Yes

   Read the full review Go to Yuh

3. Revolut Monito Score 8.6

   Monito Score

   • Trust & Credibility

     8.9

   • Service & Quality

     7.9

   • Fees & Exchange Rates

     8.3

   • Customer Satisfaction

     9.4

   See Also

   Nationwide's Virgin Money takeover shows how incredibly difficult it is for mid-tier banks to take on the big four lendersDigital Banks - Worldwide | Statista Market ForecastEY announces alliance with MoneyLion to help banks accelerate their digital transformation and extend financial servicesWorld’s Best Digital Banks 2023—Round 1

   • Languages

     English +20

   • Country availability

     Austria +35

   • Services

     All-in-one finance app

   • Monthly fee

     Very low

   • Card delivery time

     Mid

   • Best for

     Spending online +1

   • Bank details

     UK account no. & sort code +1

   • Supported currencies

     United Arab Emirates dirham +26

   • Overdraft Yes
   • Annual interest rate

     Very low

   • Supports cash deposits No
   • International transfers Yes

   Read the full review Go to Revolut

4. Conotoxia Multi-Currency Card Monito Score 8.6

   Monito Score

   • Trust & Credibility

     8.6

   • Service & Quality

     8.6

   • Fees & Exchange Rates

     7.3

   • Customer Satisfaction

     9.9

   • Languages

     Polish +1

   • Country availability

     Austria +28

   • Services

     Multi-currency account +1

   • Monthly fee

     Very low

   • Card delivery time

     Fast

   • Best for

     Spending while abroad

   • Bank details

     Euro IBAN

   • Supported currencies

     Euro +19

   • Overdraft No
   • Annual interest rate

     Very low

   • Supports cash deposits No
   • International transfers Yes

   Go to Conotoxia Multi-Currency Card

5. comdirect Monito Score 8.4

   Monito Score

   • Trust & Credibility

     9.0

   • Service & Quality

     8.0

   • Fees & Exchange Rates

     8.8

   • Customer Satisfaction

     7.7

   • Languages

     English

   • Country availability

     Germany

   • Services

     Full bank account

   • Monthly fee

     Very low

   • Card delivery time

     Mid

   • Best for

     Everyday banking

   • Bank details

     Euro IBAN

   • Supported currencies

     Euro

   • Overdraft Yes
   • Annual interest rate

     Very low

   • Supports cash deposits Yes
   • International transfers Yes

   Go to comdirect

6. Vivid Money Monito Score 8.3

   Monito Score

   • Trust & Credibility

     8.2

   • Service & Quality

     8.1

   • Fees & Exchange Rates

     7.5

   • Customer Satisfaction

     9.5

   • Languages

     English +4

   • Country availability

     Austria +26

   • Services

     Travel card +2

   • Monthly fee

     Very low

   • Card delivery time

     Fast

   • Best for

     Spending while abroad +1

   • Bank details

     Euro IBAN

   • Supported currencies

     Albanian lek +40

   • Overdraft No
   • Annual interest rate

     Very low

   • Supports cash deposits No
   • International transfers No

   Read the full review Go to Vivid Money

7. Commerzbank Girokonto Monito Score 8.3

   Monito Score

   • Trust & Credibility

     8.6

   • Service & Quality

     8.1

   • Fees & Exchange Rates

     8.0

   • Customer Satisfaction

     8.5

   • Languages

     German +1

   • Country availability

     Germany

   • Services

     Full bank account

   • Monthly fee

     Very low

   • Card delivery time

     Fast

   • Best for

     Everyday banking

   • Bank details

     Euro IBAN

   • Supported currencies

     Euro

   • Overdraft Yes
   • Annual interest rate

     Very low

   • Supports cash deposits Yes
   • International transfers Yes

   Go to Commerzbank Girokonto

8. Tomorrow Monito Score 8.2

   Monito Score

   • Trust & Credibility

     7.6

   • Service & Quality

     7.5

   • Fees & Exchange Rates

     8.6

   • Customer Satisfaction

     9.2

   • Languages

     German +1

     See Also

     What Is Digital Banking?
   • Country availability

     Germany +17

   • Services

     All-in-one finance app

   • Monthly fee

     Moderate

   • Card delivery time

     Mid

   • Best for

     Spending online

   • Bank details

     Euro IBAN

   • Supported currencies

     Euro

   • Overdraft No
   • Annual interest rate

     Very low

   • Supports cash deposits No
   • International transfers No

   Read the full review Go to Tomorrow

9. N26 Monito Score 8.0

   Monito Score

   • Trust & Credibility

     8.0

   • Service & Quality

     8.0

   • Fees & Exchange Rates

     9.0

   • Customer Satisfaction

     8.0

   • Languages

     English +4

   • Country availability

     Austria +20

   • Services

     Full bank account

   • Monthly fee

     Very low

   • Card delivery time

     Slow

   • Best for

     Everyday banking

   • Bank details

     Euro IBAN

   • Supported currencies

     Euro

   • Overdraft Yes
   • Annual interest rate

     Very low

   • Supports cash deposits Yes
   • International transfers Yes

   Read the full review Go to N26

10. Monese Monito Score 8.0

    Monito Score

    • Trust & Credibility

      7.6

    • Service & Quality

      9.0

    • Fees & Exchange Rates

      6.6

    • Customer Satisfaction

      8.7

    • Languages

      English +11

    • Country availability

      Austria +30

    • Services

      All-in-one finance app

    • Monthly fee

      Very low

    • Card delivery time

      Fast

    • Best for

      Easy registration

    • Bank details

      UK account no. & sort code +2

    • Supported currencies

      Euro +2

    • Overdraft No
    • Annual interest rate

      Very low

    • Supports cash deposits Yes
    • International transfers Yes

    Read the full review Go to Monese

11. DKB Monito Score 7.7

    Monito Score

    • Trust & Credibility

      7.8

    • Service & Quality

      6.6

    • Fees & Exchange Rates

      9.8

    • Customer Satisfaction

      6.5

    • Languages

      English

    • Country availability

      Germany

    • Services

      Full bank account

    • Monthly fee

      Very low

    • Card delivery time

      Fast

    • Best for

      Everyday banking

    • Bank details

      Euro IBAN

    • Supported currencies

      Euro

    • Overdraft Yes
    • Annual interest rate

      Very low

    • Supports cash deposits Yes
    • International transfers Yes

    Go to DKB

12. bunq Monito Score 7.2

    Monito Score

    • Trust & Credibility

      9.1

    • Service & Quality

      6.7

    • Fees & Exchange Rates

      6.5

    • Customer Satisfaction

      6.3

    • Languages

      English

    • Country availability

      Netherlands +29

    • Services

      Full bank account

    • Monthly fee

      Moderate

    • Card delivery time

      Mid

    • Best for

      Everyday banking +3

    • Bank details

      Euro IBAN

    • Supported currencies

      Euro

    • Overdraft No
    • Annual interest rate

      Very low

    • Supports cash deposits Yes
    • International transfers Yes

    Read the full review Go to bunq

13. Zen Monito Score 7.1

    Monito Score

    • Trust & Credibility

      7.3

    • Service & Quality

      7.0

    • Fees & Exchange Rates

      7.8

    • Customer Satisfaction

      6.2

    • Languages

      English +7

    • Country availability

      Austria +29

    • Services

      Multi-currency account +1

    • Monthly fee

      Low

    • Card delivery time

      Fast

    • Best for

      Spending while abroad

    • Bank details

      Euro IBAN

    • Supported currencies

      Euro +29

    • Overdraft No
    • Annual interest rate

      Very low

    • Supports cash deposits Yes
    • International transfers Yes

    Go to Zen

N26: Best Free Current Account

Arguably the best-known mobile bank,N26is a widely-used and much-loved German online bank with around seven million customers across the EU. N26 is also partnered with Wise's money transfer service, allowing in-appinternational money transfersat some of the best exchange rates on the market. Because of its complete current account offering, we recommend N26 to just about anybody interested in low-cost banking.

Monito Score

• Customer Satisfaction 8.1

Go to N26

• Account name: N26 Standard
• Account type: Current (German bank details).
• Total cost: €0 per month.
• Noteworthy features: Instant social payments, overdraft facilities, cash deposit (in Germany, Austria and Italy).
• More info: See our full N26 review.

N26 in Short

N26 offers several paid accounts and one free account, 'N26 Standard', which in our opinion is a very capable and complete online banking package in and of itself (especially considering it doesn't cost a cent in monthly fees). 'N26 Standard' is a fully-fledged current account available online and in the N26 app. It allows mobile payments and includes a transparent debit Mastercard which arrives with no delivery fee.

While very cheap, there are some costs to consider when using the 'N26 Standard' account. For example, the account is free up to three ATM withdrawals per month in the Eurozone, after which it costs €2 per withdrawal. And, as mentioned above, cash withdrawals at ATMs outside the Eurozone (e.g. Switzerland, Norway, UK, US, etc.) come with a fairly steep 1.70% commission on the total amount withdrawn.

N26 Advantages

• Integrated withWisefor international money transfers;
• A secure current account with a licensed bank;
• Instant transfers to most other SEPA bank accounts;
• The standard plan is practically free for everyday use.

N26 Disadvantages

• A 1.70% fee for foreign currency ATM withdrawals;
• No interest, loans, joint account, or multi-currency functionality;
• Not available for UK residents or citizens;
• Upgrade needed for unlimited, fee-free cash withdrawals.

Final Word

Upgrading plans with N26 can cost you between €4.90 and €16.90 and will bring you benefits such as comprehensive insurance, spending statistics, and preferential customer support. However, the core banking features of N26 are all available on the free account, and in our opinion, this account should give you everything you're looking for if free basic banking services are what you're after.

Open your N26 account

Tomorrow: Best for Sustainability

Tomorrowis a fintech company affiliated with German bank Solarisbank striving for positive impact and claiming to put sustainability before profit. Customers can choose between three sustainable current accounts, the first two coming with a plastic Visa debit card, and the premium tier coming with a wooden Visa debit. We particularly think Tomorrow's basic 'Now' account is the ideal choice for sustainability-oriented customers due to its low all-around costs and pro-sustainability investments.

Monito Score

• Customer Satisfaction 9.2

Go to Tomorrow

• Account name: Now
• Account type: Current (held by Solarisbank, German bank details).
• Total cost: €3-€9 per month (depending on how much you withdraw).
• Noteworthy features: Climate contributions, savings pockets
• More info: See our full Tomorrow review.

Tomorrow in Short

All three of Tomorrow's paid account models (which range from €3 to €15 per month) create sustainable investments. This is achieved using transaction costs and user deposits, which are partly invested in projects such as afforestation, sustainable energy production, or drinking water purification in poorer regions of the world.

Tomorrow Advantages

• Customer money is invested in sustainable projects;
• Good checking account for everyday use;
• Attractive pricing for foreign currency transactions;
• Interesting perks, including community pockets and Tomorrow Funds;
• Stylish debit card in an artistic design.

Tomorrow Disadvantages

• Starts at €3 per month in account management fees;
• Cash withdrawals can be pricey;
• Missing cash deposits, international transfers and other core features.

Tomorrow's Sustainable Mission

Even with Tomorrow's base account, the CO2 footprint of the account holder is compensated, and with its premium 'Zero' account, the package comes with a debit card made of wood, which is a unique perk that allows your card to stand out visually from the rest.

Aside from its focus on sustainability, Tomorrow also has a lot to offer functionally. The platform enables free payments worldwide and offers currency conversion at the mid-market exchange rate with both account models. Cash withdrawals abroad on the free account cost 1.5% of the withdrawal amount.

Final Word

We are particularly interested in the fact that Tomorrow offers an excellent user experience despite its sustainable approach and stands out with attractive fees for use at home and abroad. Thus, you won't have to compromise when receiving a sustainable current account with excellent functionality and low transaction costs.

Open your Tomorrow account

Revolut: Best All-Rounder

A major name in the digital banking sphere,Revoluthas stood at the forefront of Europe's low-cost online financial services sector in recent years. With over 12 million users, the London-based fintech is not only available in Germany but across the world. However, because it's not yet a bank in all EU countries, we think Revolut is best used as a spending tool next to a main bank account, as opposed to in place of it.

Monito Score

• Customer Satisfaction 9.4

Visit Revolut

• Account name: Standard
• Account type: Current (Lithuanian bank details).
• Total cost: €0 per month.
• Noteworthy features: UK bank account details, multi-currency balances.
• More info: See our full Revolut review.

Revolut in Short

Revolut is a fully-fledged bank (licensed by the Bank of Lithuania and offering deposit insurance and products such as loans and credit cards) in parts of the EU/EEA, including Germany, meaning that if you sign up with Revolut as a German resident, you can open an account with Revolut Bank, which offers a range of financial services typical of traditional banks, making it an attractive alternative to high-street banks due to its unique ability to offer low fees and impressive scope of service.

Opening up a 'Standard' account with Revolut is completely free, but the delivery of the first debit card will set you back around €5. While ATM withdrawals are also free, a2% fee (at a minimum of €1)will be charged on all withdrawals after the first €200 or five withdrawals every month. What's more, transferring money to other Revolut users is not only free but instant. This makes the service a reliable choice if those you most frequently send money are also Revolut users themselves.

In addition, Revolut offers low fees on international money transfers, leaving the service an attractive choice for those who send money across borders frequently. They charge no exchange rate margins on weekdays, with users only subject to a flat0.50% feeon all transfers sent abroad. However, be aware that Revolut charges twice the fee for international money transfers made on weekends — bumping the fee to 1% on Saturdays and Sundays.

Revolut Advantages

• An extensive range of bank-like and multi-currency options;
• Debit card is well-priced for international spending;
• Includes investment functionality;
• Slick mobile app with many features;
• Foreign transactions up to €1,000 (or equivalent) exempt from FX fees.

Revolut Disadvantages

• Access to some interesting perks is restricted to 'Standard' users;
• Many foreign currency transactions incur a fee;
• Higher currency conversion costs on weekends.

Revolut Plans

Here's a full overview of Revolut's different account offerings:

• Standard:With zero up-front costs, the Standard option offers a digital current account (with a Lithuanian IBAN) with no monthly fee and a free debit card. ATM withdrawals are free up to five withdrawals or €200 per month (whichever comes first). After that, it costs2% of the value of the ATM withdrawal.
• Plus:Plus accounts cost €2.99 per month, including a debit card. ATM withdrawals are free of charge up to €200 per month, after which a 2% fee applies.
• Premium:Premium accounts cost €7.99 per month, including a debit card, and there are no fees for ATM withdrawals up to €400 per month. After that, it costs2% of the value of the ATM withdrawal.
• Metal:Metal accounts cost €13.99 per month, including a debit card. ATM withdrawals up to €800 per month are free, and after that, it costs2% of the value of the ATM withdrawal.

Final Word

In the end,Revolutis among the best bank-like products currently available on the market and provides a capable spending option next to a main bank account. It is ideal if you'd like to cut down on the high fees associated with basic banking services at high-street banks and is particularly well-suited for travelling abroad, especially if you plan to spend less than €1,000 (or equivalent) and do most of your spending on weekdays. It's for all these reasons that we rate Revolut as the best all-rounder online bank in Germany.

Go to Revolut

Wise: Best Multi-Currency Account

Wise is not a bank but a money transfer operator well-known for offering some of the cheapest international transfers globally. (In fact, according to our rankings, Wise is indeed the best money transfer service of all.) However, money transfers aren't Wise's only game; they also offer the Wise Multi-Currency Account — a low-cost foreign currency spending account and card product that's best in class on the market.

Monito Score

• Customer Satisfaction 9.6

Go to Wise

• Account name: Multi-Currency Account
• Account type: Electronic Money Account (held by Barclays in the UK, Wells Fargo in the US, DBS in Singapore, etc.).
• Total cost: €0 per month.
• Noteworthy features: International money transfers, multiple account details, multi-currency balances.
• More info: See our full Wise Multi-Currency Account review.

Wise in Short

Applying for a Wise Account is fast and easy and can be done using proof of residence in Germany (as well as many countries worldwide). Once you're signed up and your card has arrived (which takes up to two weeks to be delivered to Germany), you'll be able to take advantage of the following unique features with the account:

• Local bank details in the US, Eurozone, UK, Australia, New Zealand, Singapore, Romania, Canada, Hungary, and Turkey;
• Hold, exchange, and top-up up to 56 currencies;
• A multi-currency Visa debit card that's handy for paying in foreign currencies without the hidden fees;
• Access toWise's powerful international money transfer service right from your account balance.

Wise Advantages

• Account details in as many as 10 currencies;
• Hold money in 50+ currencies;
• Send money to 80+ countries from your account;
• Some of the lowest money transfer fees available on the market;
• Pricing is accessible and transparent;
• Mid-market exchange rate offered for currency transfers;
• Wise card can be used to avoid foreign transaction fees;
• No setup fees or monthly charges.

Wise Disadvantages

• Cash or cheque payments aren't supported;
• Overdraft and loans aren't available;
• Negative interest on large Euro account balances;
• Fees to top up the account via debit and credit card;
• Tight limits and conditions to fee-free ATM withdrawals.

How Wise Works

To get a sense of just how useful Wise can be for frequent travellers and expats, let's say that you've just moved from the UK to Portugal and you'd like to spend in Euros before you've got your proof of residence sorted out. With the Wise Multi-Currency Account, you'll be able to:

1. Send British pounds from your bank account to your Wise Euro account;
2. Convert to Euros at a low fee (e.g. if you add €1,000 and pay with British pounds, the total fee will be around 0.35% or £3*);
3. Pay with your Wise debit card, make or receiveSEPA(andSWIFT) payments, and set updirect debits.

You'll also have a dedicated set of Belgian bank details to share with an employer in Germany. Belgian IBANs are fully eligible in Germany, and rejecting the payout or receipt of funds based on the origin of an IBANis illegal. Note that this account does not offer an overdraft, and you won’t earn interest on any in-credit balances.

Final Word

It's for the above reasons that we think Wise is the best online multi-currency account available to German residents and non-residents alike and a product we firmly recommend for holidaymakers, online spenders, and expats alike.

* Conversion made on 05/11/2021

Open your Wise account

bunq: Best Paid Current Account

Dutch neobank bunq doesn't really lift a candle to some of the other contenders on this list in terms of affordability. That's because bunq doesn't offer a free account, and many of its services come with additional fees. However, for those who don't mind paying higher fees every month for an online bank account, then bunq comes packed with many interesting features and perks to take advantage of.

Monito Score

• Customer Satisfaction 6.3

Go to bunq

• Account name: Easy Bank
• Account type: Current (French, Spanish, German, or Dutch bank details).
• Total cost: €2.99 per month.
• Noteworthy features: Bill splitting, Wise money transfer integration,
• More info: See our full bunq review.

Bunq in Short

Available in Germany and most other EU countries, bunq offers three different bank account types priced between €2.99 and €17.99 per month. Following a major pricing update in 2021, bunq went from being one of the cheapest neobanks for overseas spending to one of the most expensive. On bunq's most affordable plan, card spending in foreign currencies while abroad incurs a 1.5%commissionon the transaction amount as well as a 0.5% network fee, while on the two more premium plans, the 1.5% commission is waived for cashless payments abroad, but the 0.5% network fee remains.

Cash withdrawals are also rather pricey at bunq, regardless of the plan. On the cheapest 'Easy Bank' plan, not only does the €0.99 per withdrawal fee apply for the first four withdrawals per month (after which the fee bumps up to €2.99 per withdrawal), but these come in addition to the 1.5% commission and 0.5% network fee for foreign currency withdrawals. This means that for a $1,000 withdrawal in the US, you'd pay 2.1% in fees, which is comparable to the fees charged by traditional banks.

Despite the pricing update, whether you're an expat, a frequent traveller, or a digital nomad, you'll find bunq to still be, on average, a cheaper option for overseas spending than traditional banks, though, although not quite as cheap as come of its major alternatives such asN26 andRevolut.

Bunq Advantages

• The choice between a Spanish, German, French, or Dutch IBAN;
• Partnered withWise for international money transfers;
• A licensed bank in the Netherlands;
• Notifications and sub-accounts to manage spending;
• Built-in savings with interest.

Bunq Disadvantages

• No free plan is available;
• Climate contribution on 'Easy Green' plan is usually not worth it;
• Relatively expensive premium tiers;
• ATM withdrawals are pricey on all plans.

Bunq Plans

Bunq accounts break down into three tiers as follows:

• Easy Bank:A low-cost current account with a German, French, Spanish, or DutchIBANthat comes with a debit Mastercard and money transfer capabilities. The account costs €2.99 per month.
• Easy Money:An account with added features and functionalities, including spending statistics, four free ATM withdrawals per month, budgeting features, unique deals, a metal debit card, and bookkeeping software. The account costs €8.99 per month.
• Easy Green:The premium tier, Easy Green's unique feature allows users to track the progress of the reforestation initiative already linked to other tiers (i.e. a tree planted for every €100 spent). Costing €17.99 per month, we've found in ourbunq reviewthat this initiative is not worth it for most users.

Final Word

Because of the costs involved, we think bunq isn't suitable for all kinds of users, especially those looking to cut back on expenses or those who aren't necessarily looking for an eco-friendly solution in their bank. However, suppose you live in Spain, France, Germany or the Netherlands and want an IBAN for one of these countries (and especially if you don't mind paying the €2.99 per month fee for the perks that bunq has to offer). In that case, we'd recommend bunq's 'Easy Bank' plan, which provides an interesting paid online bank account that will probably give you everything you're looking for and more.

Go to bunq

Vivid Money: Best Cashback

A partner of German bank Solarisbank AG, Vivid Money isn't a bank in and of itself but a fintech company offering a digital account and card. By combining a checking account with cashback features, Vivid Money users can save up to 25% on everyday purchases and easily refinance the account management fees of €9.90 per month that comes with the premium tier (although there is a free tier too offering less cashback). This excellent cashback is the reason we think Vivid Money has the best rewards program of any online bank in Germany.

Monito Score

• Customer Satisfaction 9.5

Go to Vivid

• Account name: Vivid Prime
• Account type: Current (held by Solarisbank, German bank details).
• Total cost: €9.90 per month.
• Noteworthy features: Cashback program, fractional investment (stocks, ETFs, crypto, precious metals), multi-currency balances, insurances.
• More info: See our full Vivid Money review.

Vivid Money in Short

An ideal banking option for those looking for fruitful cashback, Vivid Money's premium plan 'Vivid Prime' provides the best cashback program we've seen from any online account in Germany. However, although it offers significantly less cashback, we also highly recommend Vivid Money's free account. This plan comes with a free metal debit card that can be used for payments worldwide free of charge and allows fee-free cash withdrawals of up to €200 per month. This makes Vivid one of the most interesting and attractive German neobanks on the market.

Vivid Money Advantages

• Lucrative cashback on payments.
• Fee-free fractional investments in US stocks and ETFs.
• Free payments at home and abroad.
• The first €200 withdrawn per month is free worldwide.
• Handy in-app tools (e.g. investment, bill splitting, etc.).
• Up to 15 free sub-accounts in up to 100 different currencies.
• Free metal Visa debit card.

Vivid Money Disadvantages

• No phone support.
• No international transfers or cash deposits.

How Does Vivid Cashback Work?

As mentioned, the main difference between the paid and free variants lies in the type of cashback program. The free Vivid account, 'Vivid Standard', is limited to €20 monthly cashback via the so-called Champions program – a loyalty program for various establishments. In 'Vivid Prime', users receive up to €100 cashback per month for shopping at popular retailers, cafes, restaurants, and many other institutions, including up to 10% cashback on brands of your choice.

Ultimately, new users need to decide for themselves which Vivid account best suits them best. In short, however, we see Vivid as one of the best neobanks in Germany — both in its free and paid variants.

Go to Vivid Money

Starling: Best EUR Account for UK Residents

Starling Bankis a fully-authorised bank in the UK that's well known for its fee-free current account. In fact, because this account is entirely free and gives you access to an impressively complete range of financial services (including overdraft facilities, loans, joint accounts, youth cards, pensions, Euro and US dollar accounts, interest, etc.), we think Starling offers thebest online bank in the UK— one we recommend as a complete replacement for an account at a high-street bank.

Monito Score

• Customer Satisfaction 9.3

Go to Starling Bank

• Account name: Personal account
• Account details: UK IBAN
• Licensing: Bank
• Total cost: £0 /month.
• Noteworthy features: EUR and USD bank account details, savings, pension scheme, youth card, interest, overdraft.
• Availability: United Kingdom only
• More info: See our full Starling Bank review or go to the website.

Starling Bank In Short

UK-based digital-onlyStarling Bankwas founded by Anne Boden in 2014 and received its UK banking licence in 2016. Available to UK residents and citizens, Starling Bank offers free online current accounts. Never pay monthly maintenance fees, foreign card transaction fees, 24/7 support, and digital-only account opening.

Starling Bank's standard current account holds British pounds and offers unlimited free domestic bank transfers and no ATM fees. You may even open a multi-currency account that holds Euros for free! If you are living and working in the Eurozone, then you can easily send Euros to your Starling Bank multi-currency account by SEPA Payments, Direct Debits, or Standing Orders (Recurring SEPA Payments).

Starling Bank also offers very competitive exchange rates, which we review here. When you must exchange your Euros for Pounds and vice versa, you can be confident in Starling Bank's transparent and industry-low rates.

Starling Bank Advantages

• No monthly account fees.
• Fee-free ATM withdrawals and transactions abroad.
• Innovative features and services that can be managed in-app.
• Categorised spending insights that make it easier to budget.
• Interest paid on account balances.
• Compatible with Google Pay, Samsung Pay, Apple Pay, Fitbit Pay and Garmin Pay.

Starling Bank Disadvantages

• Overdrafts are charged at 15% EAR.
• USD accounts cost £5 per month.
• Replacing a card lost overseas could cost £60.
• Interest of -0.5% on balances in the Euro account of over €50,000.

Go to Starling Bank

FAQ About Online Banks in Germany

• 🔐 Are online banks safe?

  Yes, in Germany, online banks are indeed safe and secure financial institutions. Not only are they duly authorised and regulated by the central banks in their respective countries of origin, but German online banks offer deposit protection to their customers in accordance with German guidelines, meaning that, in most cases, 100% of funds will be reimbursed in the event of bankruptcy.

• 🏛 Are online banks considered non-banks?

  Yes and no. Strictly speaking, an 'online bank' is an up-and-coming financial institution that places digital solutions at the forefront of its product and service offerings. Therefore, an online bank can still, by all means, be a registered and regulated bank, as is the case with N26. However, most online banks are indeed non-banks and inhabit a regulatory 'grey zone' between being fully-fledged banks and financial technology companies.

• 👨‍⚖️ Are online banks regulated?

  Yes, online banks are regulated by the same laws and regulations that govern all other financial services providers in Germany, namely authorization and oversight by the central banks of their respective countries and adherence to the financial compensation guidelines.

• 💰 How do online banks make money?

  Like legacy high-street banks, online banks make money from personal clients through service fees associated with opening, maintaining, and utilizing an account and various features. However, for a number of reasons including the fact that most online banks do not maintain offices, online banks are able to reduce their pricing to outcompete traditional banks at the price point.

Why You Can Trust Monito

Why Trust Monito?

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