Money & taxes
Girokonto
A Girokonto is a German current account, the hub for salary, rent, and SEPA direct debits. Working students need one with a German IBAN for payroll. Many banks waive fees for students or with regular incoming payments; neobanks open accounts fully online.
The Girokonto is the standard everyday bank account in Germany: salary arrives there, rent leaves by standing order, and utilities, insurance, and gym memberships collect via SEPA-Lastschrift (direct debit). Cards attached to it are typically a girocard for German shops and a Visa or Mastercard debit for everything else.
Account models range from traditional branch banks (Sparkasse, Volksbank, Commerzbank) through direct banks (DKB, ING) to neobanks (N26, bunq). Monthly fees between zero and several euros usually disappear under student conditions or minimum monthly deposits.
What it means for working students
Open the Girokonto early: employers need a German or SEPA IBAN for payroll, landlords for the deposit, and the blocked-account payout needs a destination. Neobanks onboard with passport and video call before you even have an Anmeldung, which breaks the classic chicken-and-egg problem of needing an address for a bank and a bank for everything else. Watch for passport-acceptance restrictions at some neobanks and compare student conditions before committing.