Frankfurt The majority of account openings by refugees from Ukraine go through the savings banks. As of July 25, around 285,000 corresponding accounts were opened, the German Savings Banks and Giro Association (DSGV) announced on request. According to Deutsche Bank and Postbank, the number amounts to around 50,000 accounts.
Other banks either do not disclose data or the number of such accounts is small. The Federal Association of Volks- und Raiffeisenbanken, BVR, explained that this is not recorded nationwide. However, when you ask questions from the local banks, you realize that the topic plays a role.
According to Commerzbank, the demand for accounts for refugees is “limited”. Since March, the online bank ING has registered several hundred account openings by people with Ukrainian citizenship.
Since the outbreak of war, more than 915,000 war refugees have been registered in Germany, around 890,000 of them Ukrainians. According to the latest information, the proportion of minors is almost 40 percent. How many of the people currently live in Germany, however, is not determined. You may have traveled to other countries or returned to Ukraine by now.
Top jobs of the day
Find the best jobs now and
be notified by email.
Ukrainian refugees are allowed to work in Germany and receive social benefits. Therefore, they need an account quickly. These are usually basic accounts for which banks often charge three to eight euros a month, but sometimes more. Especially with the lower monthly fees, individual booking items sometimes cost something. Some money houses offer or offered the accounts temporarily free of charge.
Simplified account opening for refugees
Proof of identity when opening an account was made easier in mid-March and early April. According to the German financial regulator Bafin, Ukrainians can do this with their identity cards.
According to the Money Laundering Act, Ukrainians should actually present a passport to open an account. However, most refugees do not have an identity card (ID card) and often do not have a newer one either.
For Ukrainians who have neither a passport nor a newer ID card, other Ukrainian ID documents are sufficient for a basic account. The prerequisite for this is that a document from a German authority, for example a registration certificate, is also submitted, explained the Bafin. The point is that the credit institutions can open legally secure accounts with these exemptions.
Nevertheless, there are more and more complaints about rejected account openings, as Bafin announced on request. However, the authority does not have any figures on this.
From the point of view of the DSGV, however, there are no longer any major problems. “In the event that authorities issue registration certificates without photos, a photo comparison is made using the Ukrainian ID documents.” In cases of doubt, the local authority can also be contacted.
The Sparkasse Hannover, for example, asked the 21 municipalities in its business area at the beginning of April that the cities and municipalities immediately issue a provisional passport with a photo.
It is obvious that the majority of accounts will be held with the savings banks in the future. In 2015 and 2016, when a particularly large number of people from Syria, Iraq and Afghanistan came to Germany, tens of thousands of accounts were opened for these refugees at public banks. The municipalities are responsible for the savings banks.
The numbers are likely to continue to rise. The Mittelbrandenburgische Sparkasse from Potsdam, which has the largest business area of all 360 savings banks in terms of area, currently counts 100 new accounts for refugees every week.
Exchanged hryvnia worth 3.6 million euros so far
The exchange of the Ukrainian currency hryvnia also takes place largely in savings bank branches. According to the Bundesbank, a total of 122 million hryvnia worth 3.6 million euros have been purchased since the end of May. At the savings banks alone, eleven days ago, the value was 3.1 million euros.
An exchange program that the EU countries had agreed on was launched in May. Every adult refugee from the Ukraine can exchange a total of up to 10,000 hryvnia – currently just under 244 euros – at the bank where their account is held in Germany. According to the Bundesbank, this should be done free of charge. Previously, changing was not possible – in the past there was hardly any demand for the exchange of hryvnia into euros.
More: Yachts, planes, bank accounts: the West stands in its own way in the hunt for oligarch treasure