Are “free” bank accounts in Germany really free, or are there hidden fees?

Short answer: Are “free” bank accounts in Germany really free? Often the monthly fee is zero, but we still see hidden charges for cards, cash withdrawals or foreign payments that can add up quickly.

Many mobile and direct banks market a free giro account, yet small print shows where they earn money:

• Debit card costs. A plastic girocard may be €10–25 per year, while the basic virtual Mastercard is free.
• ATM withdrawals. The first three cash withdrawals per month might be included; every extra one can cost €2–€3.
• Foreign-currency fees. Paying in USD or GBP often triggers a 1.5 %–2 % markup unless you hold a premium plan.
• Account inactivity. Traditional branch banks now charge up to €5 if your monthly incoming payments stay below €700.

At Finance for Expats we read the Gebührenverzeichnis (fee table) line by line and match it to your usage pattern—daily SEPA transfers, international salary, or frequent travel. If a so-called free account ends up more expensive than a €4 flat-fee competitor, we tell you straight. We then open or switch the account via our bank switch service, transfer standing orders, and remind you to cancel the old one before fees restart.

Key take-aways:

• Zero monthly fee rarely means zero cost—watch card, ATM and FX charges.
• We compare German bank fees against your actual spending habits.
• Account opening and switching support is free because banks pay our commission.