A semester abroad raises money questions: how do you pay rent, how do you get cash, and which account stays active when you no longer live in Germany? This guide shows three common routes and explains what to check before you decide. For an overview of managing money as a student, see the guide on student finances (in German).
Kurz beantwortet: For a semester abroad you need an account that handles rent, living costs and cards reliably. Three routes are common: keep your German account, open a local account in the host country, or use a non-resident account, which is meant for people who live abroad. Which option fits depends on fees, card terms and the bank’s rules (as of October 2026).
The most important points
- Three routes are common: keep your German account, open a local account in the host country, or use a non-resident account.
- Many banks only keep accounts for people with a residence in Germany. A change of residence can therefore affect the contract.
- For euro transfers within the EU and the EEA, the fee rules of the SEPA Regulation apply, whichever bank you choose.
- For card payments in a foreign currency, the markup matters. EU Regulation 2019/518 requires it to be shown transparently.
- Check fees, card terms and residence rules in the contract before you leave.
Three routes at a glance
| Option | Advantages | Disadvantages | What to check |
|---|---|---|---|
| Keep your German account | Familiar online banking, salary and direct debits keep working | Fees for foreign cards and currency, the bank may review the change of residence | Card fees, currency markup, online banking and TAN procedures abroad |
| Local account in the host country | Local direct debits for rent and phone, often cheaper locally | Opening often requires documents on site, language barrier, extra admin | Opening requirements, costs, language of the contract |
| Non-resident account | The account stays usable with a residence abroad | Not every bank offers it, terms and fees differ a lot | Residence rules, termination rights, fee model |
What a non-resident account is
The term describes an account for people who have their residence outside the bank’s country. Banks there also verify identity and the origin of funds under the rules of the German Money Laundering Act (Geldwäschegesetz). Many institutions only keep accounts for customers with a residence in Germany. After a change of residence, the bank may therefore review or end the contract. Read the terms before you commit, and ask directly whether your stay abroad affects the account.
What transfers and cards may cost
For euro transfers within the EU and the EEA, the SEPA Regulation (EU) No 260/2012 applies. It ensures that charges for cross-border euro payments may not be higher than for comparable domestic payments. For card payments in another currency, Regulation (EU) 2019/518 requires currency conversion charges to be shown transparently. You can therefore see how large the markup is compared with the reference rate.
For payments outside the EEA, the EU rules do not apply in the same way. There, the bank, the payment route and the destination country determine charges, timing and exchange rate. Ask about the charge and the timing before any larger transfer, so no unexpected costs arise. A transfer handled through customer service is often more expensive than a standard transfer in online banking, so compare both.
Worked example: card payments in a foreign currency
Assumption: you pay 300 euros per month by card in a foreign currency, and your bank charges a markup of 2 percent. The figure is only an example, the real amount depends on your bank.
- Markup per month: 300 euros times 2 percent, so 6 euros.
- Markup per year: 6 euros times 12, so 72 euros.
- Compare this sum with the charges of different models before you decide.
What to compare
These points help you compare the three routes. We do not recommend a particular bank.
- Charges for card payments, cash withdrawals and transfers outside the EEA
- Availability in the host country: card acceptance, cash machines, branches or online opening
- Residence rules and termination rights after a move
- Access to online banking and two-factor authentication, including with a German mobile number
- Language of the contract and availability of customer service
Checklist before you leave
- Check the card limit and the foreign-use setting in your banking app
- Save the bank’s emergency number and take a second card
- Report your address change to the bank, health insurer and university
- Check that standing orders and direct debits work abroad
- Keep your ID and the documents for opening an account abroad ready
What happens after you return
After the semester abroad you often move back into a flat or to a new city. Then it is worth switching the account back to your new residence, updating addresses and checking the foreign-use settings of your card. Accounts abroad that you no longer need should be formally terminated and their fees checked.
Frequently asked questions
Do I have to tell my bank about the semester abroad?
As a rule, yes. A stay abroad can raise questions about reachability, the salary account or identification. A short notice helps avoid unnecessary blocks on cards or accounts. Keep the bank’s confirmation.
Can I keep my German account when I go abroad?
Usually yes, as long as the contract runs and you inform the bank about the stay abroad. Ask whether cards, online banking and TAN procedures work abroad without restrictions.
Do I need an account in the host country?
Often yes, for example for direct debits for rent, phone or insurance. Check what your landlord and provider require. Opening requirements differ strongly by country and should be asked at the bank or the international office.
What happens to my account if I give up my residence in Germany?
Then the bank reviews the contract. Report address changes promptly, otherwise important letters may not reach you. Tell the bank how to reach you and ask whether it accepts an address abroad.
Is a blocked account required?
That depends on the destination country and the visa procedure. The guidance note of the responsible embassy or consulate sets out the requirements and amounts. Figures change by country and by the status of the guidance note, so check the mission directly.
What to do now
- Decide how long you will be abroad and where you pay rent and living costs.
- Compare the fees of your current account with a non-resident account or a local account.
- Ask your bank whether a change of residence and use abroad affect the contract.
- Check the host country’s rules on accounts and visas before you decide.
Related guides
- Financing a semester abroad: costs, study abroad BAföG, scholarships (in German)
- Study abroad BAföG 2026 (in German)
- Managing student finances: account, emergency fund and deadlines (in German)
- Master abroad: countries, application and costs (in German)
- Financing study abroad: study abroad BAföG, Erasmus and scholarships (in German)
Sources: Regulation (EU) No 260/2012, SEPA credit transfers (EUR-Lex); Regulation (EU) 2019/518, transparency of currency conversion (EUR-Lex).
Last updated: October 2026. This guide is general information, not individual advice.
