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Summary: After opening an account (account-opening guide), the first things to do with it matter: understanding the IBAN, SEPA transfers, standing orders, direct debit, cards and security. Here we explain them simply and in order.
IBAN and BIC
The IBAN is your international account number (in Germany it starts with DE and has 22 characters). You must give it to receive salary and to pay rent and insurance. The BIC is usually no longer needed for transfers within the SEPA area.
SEPA transfer and standing order
- SEPA transfer (Überweisung): moving money to another account in the euro area; it usually arrives within one working day and costs little or nothing.
- Instant transfer (Echtzeitüberweisung): delivers money in seconds and is mandatory for banks in the euro area.
- Standing order (Dauerauftrag): for a fixed monthly amount such as rent.
Direct debit (Lastschrift)
For electricity, internet, insurance and gym companies: you allow the company to collect money directly from your account. If you did not authorise a debit, you can usually get it back within 13 months; for an authorised debit you usually have 8 weeks. Check your statement every month and ask your bank about the deadline.
Cards
- Girocard (EC card): the common German card; some shops accept only this.
- Visa/Mastercard Debit: for online shopping and travel.
- Note that withdrawing from other banks’ ATMs costs a fee at some banks.
Security and fraud
- Never tell a TAN, password or verification code to anyone by phone or email; the bank never asks for it.
- Ignore fake messages and emails (phishing) with suspicious links and log in only through the bank’s official app.
- Enable two-factor authentication (TAN app) and keep your phone locked.
Switching or closing an account
The new bank’s account-switching service (Kontowechselservice) can move your salary and direct debits to the new account. To close a blocked account after your stay ends: first 30 days and Sperrkonto.
Common mistakes
- A balance lower than the standing orders and a returned debit (return fee).
- Not giving the bank the correct address, so letters are not opened.
- Closing an account without moving the debits.
Related: Schufa and Basiskonto.
Note: this article is general guidance and not a substitute for legal, tax or banking advice. Sanctions and money-transfer rules change repeatedly; before any important transfer, consult your bank and a tax or legal adviser. Last reviewed: October 2026.
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