Revised procedures for identity checks for German banks

Following the amendment of the German Money Laundering Act (“Geldwäschegesetz”) the German missions abroad can no longer notarize signatures or perform identity verification to open a new account, for loan applications of more than 15,000 € or similar cases. This also applies to credit card applications.

Please contact the bank which sent you the documents on how to proceed.

Exempt from this new ruling are blocked accounts for foreign students who must apply for a student visa before entering Germany and who need to open an account in Germany in order to prove sufficient financial means for their stay in Germany. In these cases only, the German missions abroad are allowed to notarize signatures or to perform identity verification.