This page is for people who are opening an account in Germany, sending money to Ukraine, or have a card, deposit or loan there. It gives a few basic rules; detailed answers are in our articles.
Can you open an account without a full set of documents?
Yes. The law gives the right to a basic account (Basiskonto) to every consumer who is legally present in the EU, including people without a permanent address, asylum seekers, and people who cannot be deported even though they have no residence permit. A bank that opens accounts for private individuals must offer a contract without delay, no later than 10 working days after receiving the application, and confirm that it has received the application.
Which documents the bank will accept at each stage, how much a Basiskonto costs and what to do if you are refused is explained in the article A bank account in Germany for Ukrainians: Basiskonto, online bank or Ukrainian card (in Ukrainian).
Is your money protected at a German bank?
Yes, within the limits of the Deposit Guarantee Act (EinSiG): compensation for a depositor is limited to €100,000. How deposits are guaranteed in Ukraine is explained in the article A deposit in Ukraine if you live in Germany: taxes and access (in Ukrainian).
How do you transfer money between Germany and Ukraine?
Transfer methods, fees and restrictions on the Ukrainian side are covered in these articles:
- Sending money from Germany to Ukraine: which method is cheaper
- A Ukrainian bank card in Germany: NBU limits, fees and blocks
- Transfers from abroad to an individual: limits and financial monitoring
What about a deposit and a loan in Ukraine?
A German tax resident must personally declare in the tax return any interest and dividends from a Ukrainian bank on which no tax was withheld in Germany; the rate on capital income is 25%. If you receive the basic income support Grundsicherungsgeld, the interest counts as income, and the Jobcenter takes it into account. More on the page Taxes in Germany for Ukrainians.