There is no single best neobank in Germany; N26, Trade Republic, Revolut, bunq and Openbank are the main app-first options, and they differ in who licenses them and which deposit-guarantee scheme protects your money. All EU-licensed banks must offer deposit protection of at least €100,000 per depositor, but the scheme can be German, Dutch, Lithuanian or Spanish depending on the provider. We do not quote fees or rates because they change.
Last reviewed: October 2026.
Germany has a crowded market of app-based banks, and in any search for the best neobank in Germany the most important difference is not the app design but the legal entity behind it. This guide, current as of October 2026, explains how each of the best-known providers is licensed and supervised, which deposit guarantee applies, and what recent regulatory news you should know about. It is for people living in Germany or considering a German IBAN. It is an overview of the best neobank in Germany options, not a ranking or advice.
How deposit protection works for banks in Germany
Under EU rules, deposit guarantee schemes cover €100,000 per depositor, as the ECB explains. Schemes are national, so the one that protects you depends on the bank’s home country. A German IBAN does not guarantee German protection. A bank can serve German customers through a branch of a foreign bank, in which case its home scheme applies.
N26 states that, as a licensed bank, it belongs to a deposit guarantee scheme (the Entschädigungseinrichtung deutscher Banken) which protects deposits up to €100,000 per depositor, per its support page.
N26: German licence, tighter supervision
Based in Berlin, N26 holds a German banking licence. In a press release dated 15 December 2025 it said it operates in 24 markets, with about 1,600 staff. On the same day BaFin ordered stricter oversight: a ban on new mortgages in the Netherlands, higher capital requirements and a special monitor, after a 2024 special audit found serious deficiencies in risk and complaint management and in organising the lending business, according to MarketScreener. N26 also announced that UBS executive Mike Dargan would become CEO in April 2026, subject to regulatory approval, per its release. We could not confirm later developments, so check recent news. The measures do not remove deposit protection, but they are a reason to read current coverage.
Trade Republic: investing app with a bank licence
Trade Republic received a full banking licence from the European Central Bank in December 2023, according to its Wikipedia profile. By mid-2025 it offered current-account features such as individual IBANs, transfers and direct debits alongside trading, savings plans and a debit card. The same source says cash at partner banks has statutory deposit insurance, while funds invested in money market funds do not, and notes that a consumer group sued in February 2025 over claims about deposit protection scope. An affiliate-supported review says balances are held at partner banks and covered per partner bank, but it is not an official source, so confirm the details in the provider’s deposit-protection notice. Securities and crypto are not deposits.
Revolut: Lithuanian bank, German branch, new savings setup
Revolut Bank UAB holds a licence granted via the ECB, and operates in Germany through a branch, supervised by the ECB and Bank of Lithuania, with BaFin supervising services provided through the German branch, according to Revolut’s help centre. The Bank of Lithuania records that the bank licence was upgraded in December 2021, per the Lithuanian regulator.
Biallo reports that a German-IBAN current account remains covered by the Lithuanian scheme up to €100,000, while Tagesgeld (savings) accounts opened on or after 4 August 2026 are held at Deutsche Bank AG under the German statutory scheme, also up to €100,000. Older savings stay with the Lithuanian bank. Revolut announced a French banking licence for Revolut Bank S.A. on 10 August 2026, but Germany is only a later step, and nothing changes for customers yet, according to Biallo. Check which entity holds each of your balances.
bunq and Openbank: foreign banks serving Germany
bunq is a Dutch bank. A secondary reference records its banking licence from DNB in 2014, supervision by DNB and the ECB, and cover by the Dutch scheme up to €100,000, with local IBANs including German ones on higher plans, all legally held by bunq B.V. in the Netherlands. The same source records a €2.6 million DNB fine in May 2025 for customer due diligence shortcomings in 2021 and 2022, which bunq disputed.
Openbank is Santander’s fully digital bank. In January 2025 it announced German IBANs and a move to a German branch, with BaFin oversight in addition to the Banco de España, according to Santander. It describes free current and savings accounts and personal loans; check current terms.
Best neobank in Germany candidates at a glance
| Provider | Entity and licence | Deposit scheme (as reported) |
|---|---|---|
| N26 | German bank, BaFin supervised | German statutory scheme, €100,000 |
| Trade Republic | Full bank, ECB licence (Dec 2023) | Statutory cover on cash; funds in money market funds not covered |
| Revolut | Revolut Bank UAB, German branch | Lithuanian scheme for current accounts; German scheme for new Tagesgeld from 4 Aug 2026 |
| bunq | Dutch bank (DNB) | Dutch scheme, €100,000 |
| Openbank | Santander group bank, German branch | Check provider notice |
Compare with our broader overview best neobank Europe, the Swiss market in best neobank Switzerland, and neobank vs direct bank.
Choosing the best neobank in Germany by what you need
- A main account for salary and direct debits: look for a bank that gives you a German IBAN and a clear depositor information sheet, and read which scheme covers it.
- Savings above €100,000: spread money across several banks or schemes, because the limit applies per depositor per bank. Note that Trade Republic is reported to spread balances across partner banks, which changes how the limit applies, so read its notice carefully.
- Investing as well as banking: Trade Republic and some others combine both, but investments are held separately from deposits and are not covered by deposit guarantee schemes.
- Travel and multi-currency use: check which entity holds foreign-currency balances and how they are protected.
Why the home-country scheme matters in a crisis
If a bank fails, payout is organised by its home scheme, using its own procedures and language. A customer of a bank licensed in another EU country therefore deals with a foreign scheme, even if the app is in German. That is not necessarily a disadvantage, since EU rules set a common minimum, but it is worth knowing in advance where the payout would come from. Details such as Revolut’s change for new savings accounts in August 2026, show that arrangements can change, so reread the depositor information when you receive an update.
What this means for you
- Find the legal entity on the provider’s Impressum or terms and check it on the BaFin company database or the ECB list of supervised banks.
- Identify the deposit guarantee scheme in the provider’s depositor information sheet, and the €100,000 limit per depositor and bank.
- If you hold money in several products at the same entity, remember they are usually added together.
- Treat investments, crypto and money market fund units as separate from deposits.
- Keep a second bank account in case of freezes, as discussed in are neobanks safe.
How we judged the best neobank in Germany
Because fees and rates change monthly, we judged providers on things that change slowly and matter in a crisis. Each provider above was checked against the same five questions.
- Which entity holds the deposit, and in which country is it licensed?
- Which guarantee scheme applies, and does the provider state it clearly in its depositor information sheet?
- Supervisory record. Recent regulator actions, such as the BaFin measures on N26 or the DNB fine on bunq, and how the provider responded.
- Product boundaries. How clearly the app separates deposits from investments, crypto and money market funds.
- German-market fit. A German IBAN, support for SEPA direct debits and salary payments, and a route to cash.
Consequently, the best neobank in Germany for you is the provider that passes all five and also wins on the current terms you compare yourself.
Worked example: three residents, three different answers
These illustrative profiles show why there is no universal winner.
- Lena, a new arrival in Munich, needs a German IBAN quickly for her employer and landlord. A provider with a German branch or licence that issues German IBANs on its basic plan fits best, and she keeps the balance modest while she settles in.
- Jonas, a freelancer in Hamburg, wants banking and investing in one app. Trade Republic style products suit him, but he reads the notice on partner banks and keeps uninvested cash below the limit at each one.
- Amira, who travels across the EU monthly, values multi-currency balances, so Revolut suits her spending account. For her savings she chooses a product covered by the German statutory scheme and keeps her main salary account at a bank she has used for years.
In each case the person checked the legal entity before the app features. That order of priorities is the single most useful habit when choosing the best neobank in Germany.
Common mistakes when choosing the best neobank in Germany
- Assuming a German IBAN means German protection. As explained above, the home scheme of the licensed bank applies, which may be Lithuanian, Dutch or Spanish.
- Counting investment balances as deposits. Fund units, securities and crypto sit outside the €100,000 guarantee.
- Relying on one app for everything. Freezes during compliance reviews happen at every provider, so keep a second account for rent and bills.
- Ignoring card acceptance. Some German shops still prefer Girocard over debit Mastercard or Visa, so carry a backup method until you know your local habits.
- Skipping the depositor information sheet. It is short, legally required, and tells you exactly which scheme covers which product.
Opening an account: what to expect
Most providers verify identity in the app using a video call or an automated document check, and some also accept verification at a post office. You will normally need a passport or EU identity card and a residential address in a supported country. Afterwards, the account usually opens within a day, although salary payments and direct debits take a billing cycle to move across. Moreover, if you hold money at several products of the same entity, remember the guarantee adds them together. For a wider view of the market, see our overview of the best neobank in Europe.
Sources and further reading
- ECB: how deposit guarantee schemes work
- N26 support: how N26 protects your money (German)
- MarketScreener: BaFin orders stricter oversight of N26
- N26: Mike Dargan appointed CEO
- Trade Republic (Wikipedia overview)
- Revolut help centre, Germany
- Bank of Lithuania: banking licence for Revolut Bank UAB
- Biallo: Revolut French licence and what changes in Germany
- Santander: Openbank in Germany
Frequently asked questions
What is the best neobank in Germany?
There is no single best. Compare licence, supervisor, deposit scheme and features. N26, Trade Republic, Revolut, bunq and Openbank are widely used.
Is N26 safe?
N26 is a licensed German bank in a deposit guarantee scheme up to €100,000 per depositor. BaFin ordered stricter oversight in December 2025, so follow current news.
Does Revolut offer German deposit protection?
Partly. Per Biallo, new Tagesgeld accounts opened from 4 August 2026 are under the German scheme, while the current account remains under the Lithuanian scheme.
Is Trade Republic a bank?
It has held a full banking licence from the ECB since December 2023, according to Wikipedia. Securities and crypto are not deposits.
Which scheme protects bunq customers?
The Dutch deposit guarantee scheme, up to €100,000 per person, according to a secondary summary. Check bunq’s own terms.
Is a German IBAN always German protection?
No. The scheme depends on the bank’s home country, so read the depositor information sheet.
More questions about the best neobank in Germany
What is the deposit limit in Germany?
EU rules set €100,000 per depositor under national schemes, as the ECB explains.
Do these banks charge fees?
Plans and pricing vary and change, so read each provider’s current price list.
Which is the best neobank in Germany for a German IBAN?
N26 issues German IBANs as a German bank, and Openbank and Revolut offer them through German branches. bunq offers German IBANs on some plans. Which one is best depends on the scheme you prefer and the features you need.
Is the best neobank in Germany safe for my salary?
Any licensed bank with a clear deposit guarantee can receive your salary safely up to €100,000. Keep a second account for essential payments in case of a temporary freeze, which can happen at any provider.
Do I need a German address to open an account?
Most providers require residency in a supported country and proof of identity, and some require a German address for a German IBAN. Check the eligibility page of each provider before applying.
This article is general information, not financial advice. Products, licences and availability change, so check the provider and the relevant regulator or deposit-protection scheme before you open an account or move money.