Deutsche Bank does not offer retail accounts to U.S. residents

Deutsche Bank, Germany's largest bank, does not accept new customers who live in the United States. The bank closed its U.S. retail banking operations in 2016 and now serves only institutional clients and businesses in America. If you are a U.S. resident looking to open a personal checking or savings account, Deutsche Bank is not an option.

This is a common situation with large European banks. Many stopped offering retail accounts to Americans because of the cost of complying with U.S. tax reporting rules and anti-money-laundering regulations. If you have a specific reason for wanting Deutsche Bank — perhaps you work for the bank, have accounts in Germany, or are planning to move there — the path forward depends on your situation.

Key Takeaways

  • Deutsche Bank does not open new personal bank accounts for people living in the United States.
  • If you already have a Deutsche Bank account in Germany or another country, you may be able to keep it after moving to the U.S., but you should contact the bank directly to confirm.
  • If you need a U.S. bank account, you will need to open one with a bank that operates in America, such as a national bank, credit union, or online bank.
  • Some online banks and international money transfer services can help you move money between U.S. and German accounts if you have accounts in both countries.

If you already have a Deutsche Bank account abroad

If you opened a Deutsche Bank account while living in Germany or another country and are now moving to the United States, you may be able to keep that account open. However, Deutsche Bank's rules about maintaining accounts for U.S. residents vary depending on the type of account and your citizenship.

The safest approach is to contact Deutsche Bank directly before you move or as soon as you arrive in the U.S. Call the customer service number on your account statement or visit a Deutsche Bank branch if you are still in Germany. Ask whether your specific account can remain open while you are a U.S. resident. Some accounts can stay open; others cannot. The bank will tell you what documentation they need and whether any restrictions explore.

Be prepared to provide your U.S. address and tax identification number (your Social Security Number or Individual Taxpayer Identification Number). Deutsche Bank will need this for tax reporting purposes under U.S. law.

Opening a U.S. bank account instead

If you need a bank account in the United States, you will need to open one with a bank licensed to operate here. This includes national banks (like Bank of America or Wells Fargo), regional banks, credit unions, and online banks (like Ally or Charles Schwab). All of these can open accounts for U.S. residents and can be opened online or in person.

The process is straightforward. You will need a government-issued photo ID, proof of your address (such as a utility bill or lease), and your Social Security Number or ITIN. Most banks can complete the process online in 10 to 15 minutes. Some banks offer accounts with no monthly fees and no minimum balance, which is useful if you are new to the U.S. banking system.

If you are not yet a U.S. resident but plan to be, you may be able to open an account before you arrive. Some online banks and credit unions allow you to open accounts with a U.S. address and a valid visa or passport. Contact the bank directly to ask about their policy for people who are not yet in the country.

Moving money between Germany and the U.S.

If you have accounts in both countries, you will need a way to transfer money between them. Deutsche Bank can send wire transfers to U.S. banks, but the process is slow and expensive — typically taking 3 to 5 business days and costing 15 to 50 euros per transfer.

Cheaper alternatives exist. Services like Wise (formerly TransferWise), OFX, and Remitly specialize in international transfers and often charge lower fees and offer better exchange rates than banks. These services work by connecting your German and U.S. bank accounts and moving money between them electronically. Transfers usually take 1 to 3 business days and cost 1 to 3 percent of the amount you send, depending on the service and the amount.

If you transfer money regularly, compare the fees and exchange rates of at least two services before choosing one. The difference can add up over time, especially for large amounts.

If you need banking services while in the U.S.

Many U.S. banks now offer services that work across borders. If you are a temporary resident or plan to return to Germany, look for banks that offer international wire transfers, currency exchange, or accounts that work in multiple countries. Some credit unions also offer these services to members.

Online banks often have lower fees than traditional banks and can be opened entirely from your computer. If you are new to U.S. banking, an online bank with no monthly fees and no minimum balance is a good starting point. You can always open a second account with a different bank later if you need in-person services or different features.

What to do if you are a German citizen or resident

If you are a German citizen or resident who is temporarily in the United States, your situation is different from someone moving here permanently. You may be able to keep your Deutsche Bank account in Germany and use it while you are away. Many German banks allow this as long as you maintain a German address or have a family member who can receive mail on your behalf.

However, if you need to conduct banking in the U.S. — such as receiving a paycheck or paying bills — you will still need a U.S. bank account. You can open one as a temporary resident using your passport and visa as identification. Some banks require a U.S. address, but others accept a temporary address such as a hotel or the address of a friend or employer.

Frequently Asked Questions

Can I open a Deutsche Bank account online if I live in the U.S.?

No. Deutsche Bank does not open new personal accounts for U.S. residents through any method — online, by phone, or in person. If you need a bank account in the U.S., you will need to open one with a bank licensed to operate here.

What if I am a U.S. citizen living abroad who wants to open a Deutsche Bank account?

Deutsche Bank may accept U.S. citizens who live outside the United States, but policies vary by country and account type. Contact Deutsche Bank directly in the country where you live to ask. You will likely need to provide proof of residence and tax documentation.

Can I use my Deutsche Bank debit card in the U.S.?

Yes, if you have an existing Deutsche Bank account, you can use your debit card to withdraw cash from ATMs and make purchases in the U.S. However, you will pay foreign transaction fees (usually 1 to 3 percent) and may pay ATM fees charged by the bank that owns the machine. Check your account terms for the exact fees.

How long does it take to open a U.S. bank account?

Most online banks and many traditional banks can open an account in 10 to 15 minutes. You will have access to your account when ready, though it may take 1 to 3 business days for your debit card to arrive by mail. Some banks offer when ready virtual cards you can use online right away.

Do I need a Social Security Number to open a U.S. bank account?

Most banks require a Social Security Number or ITIN (Individual Taxpayer Identification Number). If you do not have one yet, you can explore for an ITIN through the IRS. Some banks and credit unions will open accounts for people without a Social Security Number, but options are limited — ask your bank directly.