Using Bank Switching Bonuses Smartly: My €500 Strategy

Reading time: 9 minutes

Within 18 months, targeted account switches earned me exactly 535 euros in bonuses. No financial hocus-pocus, no shady tricks, just simply taking advantage of new-customer offers from German banks. When I made my first account switch to Comdirect, I was skeptical that the promised 100 euros would really land in my account. They did, right on time after three months. That was the starting signal for a well-thought-out bank switching strategy that paid off handsomely.

Bank switching bonuses are a blind spot on many people's financial radar. Yet with manageable effort you can earn money that banks practically want to give away. I'll show you how I went about it, which mistakes you should avoid and at which institutions a switch is actually worth it in 2025.

How bank switching bonuses work and why banks pay them

Banks fight hard for new customers. According to an analysis by Stiftung Warentest (the German consumer testing foundation) from January 2025, 23 German banks currently pay switching bonuses of between 50 and 250 euros for a new checking account (Girokonto). The reason is simple: a new checking account customer brings the bank income over the long term through account fees, overdraft interest or the sale of further financial products. The bonus is an investment that pays for itself for the bank over the years.

What matters is that you understand the terms precisely. Most banks require an active account switch with at least five transactions per month, or a minimum deposit of between 700 and 1,200 euros, for the full bonus. Some institutions such as Commerzbank also require that you weren't a customer in the last 12 months. These details are in the fine print and decide whether you get the bonus or not.

My personal bank switching route: 535 euros in 18 months

I didn't hop aimlessly from bank to bank but put together a plan. It started in June 2023 with the switch from my old Sparkasse (a German savings bank) to Comdirect. The bonus back then was 100 euros, paid out after three consecutive salary deposits of at least 700 euros. In October 2023 a second account at ING followed, with a 75 euro starting credit, which I used in parallel.

The biggest coup was the switch to Commerzbank in March 2024. There was a special promotion at the time with a 250 euro bonus if you also opened two products such as a credit card and a brokerage account. Both products were free; I just had to activate them. The finale in November 2024 was norisbank with a 110 euro new-customer bonus for a minimum deposit of 1,000 euros over three months.

It was important to me never to close an account before the bonus had actually been paid out. At Comdirect it took exactly 91 days, at ING only 45 days. Commerzbank even took four months, because I had initially forgotten to use the credit card once, which was a hidden condition.

Concrete overview of my switches

• June 2023 – Comdirect: 100 euros after three salary deposits of 700 euros each
• October 2023 – ING: 75 euros immediately after opening the account and first use of the debit card
• March 2024 – Commerzbank: 250 euros with the additional condition of a credit card and brokerage account
• November 2024 – norisbank: 110 euros after three salary deposits of 1,000 euros each

Which bank pays the highest switching bonus in 2025?

The bonus landscape is constantly changing. According to my research in January 2025, Commerzbank is still in the lead, although the amount varies between 100 and 250 euros depending on the promotion. Comdirect has cut its bonus to 50 euros, but in return drops the minimum-deposit condition in certain promotions. Norisbank, a subsidiary of Deutsche Bank, currently offers a steady 100 euros for new customers with regular deposits.

According to the comparison portal Biallo.de, direct banks pay on average 20 percent more in bonuses than branch banks. That's because they don't have to maintain branches and can pass this saving on to new customers. An analysis by Finanztip from February 2025 shows that the average checking account bonus at direct banks is 112 euros, while Sparkassen and Volksbanken (local savings and cooperative banks) rarely go above 50 euros.

Be careful with exaggeratedly high offers: some providers lure you with 300 euros and more, but tie it to unrealistic conditions such as a minimum deposit of 3,000 euros over twelve months or the opening of a paid brokerage account. Read the price list and the promotion terms in full before you sign.

Can you collect several bank switching bonuses?

Yes, definitely. I opened four accounts myself in 18 months and received all the bonuses. The trick is that you formally never return to the same bank before the waiting period has expired. Most institutions have a cooling-off period of 12 to 24 months during which former customers are excluded from new-customer promotions.

You can hold several checking accounts in parallel as long as you meet the respective minimum conditions. At times I had three active accounts across which I spread my salary, my side income and rental income. That takes a bit of organization, but it is completely legal and tolerated by the banks. Some finance professionals, such as the folks at Finanzfluss, even recommend permanently using two checking accounts in parallel to benefit from the best terms.

There is still one limit: the Schufa (Germany's credit bureau) records every account opening. If you open more than three accounts within six months, it can slightly affect your creditworthiness. For me it was no problem, because I spaced them out generously. Anyone planning to take out a loan soon, however, should be careful with account switches.

Is switching accounts really worth it just for the bonus?

Let's be honest: the administrative effort for an account switch is about two to three hours. You have to open the new account, use the account switching service, transfer standing orders and possibly notify your employer and contract partners. With a bonus of 100 euros, that works out to an hourly wage of 33 to 50 euros, which is well above minimum wage.

It was worth it for me because I could run through the process routinely after the first time. The statutory account switching service that all banks in Germany have had to offer since 2016 makes it easier. The new bank automatically takes over all standing orders and informs payment partners about the new account details. In practice this worked smoothly for me in three of four switches.

An additional advantage: through the switches I found better terms. My old Sparkasse account cost 5.90 euros per month, while Comdirect is completely free. That's an additional saving of 70.80 euros per year. Together with the bonuses, in 18 months I didn't just collect 535 euros but also permanently save on account fees.

Bank switching bonus without a minimum deposit: does it exist?

Yes, but rarely and usually with lower bonuses. ING has at times paid 50 euros without a minimum deposit, but requires active use with at least five transactions in the first month. Consorsbank currently offers 100 euros without a salary deposit if you open a free brokerage account and carry out at least one securities transaction.

In my view, these offers are mainly interesting for self-employed people or students who don't have regular deposits. But if you receive a salary anyway, the offers with a minimum deposit are more worthwhile, because the bonuses are higher. In my switches I deliberately made sure I would meet the conditions anyway, without having to change my financial behavior.

A tip for everyone without a steady income: some banks also accept regular transfers from another account of your own as a deposit. This isn't always stated explicitly in the terms, but was confirmed to me by phone by the Comdirect hotline. If in doubt, ask customer service directly before you open the account.

Pitfalls of bonus hunting: what I learned

My most expensive mistake was at Commerzbank. I had overlooked that the full bonus is only paid out if you not only apply for the free credit card but also use it once. After a three-month wait, only 100 instead of 250 euros arrived. A call to customer service brought clarity, and I had to activate and use the card after the fact. The remaining 150 euros then came another two months later.

Second lesson: keep an eye on account fees. Some banks offer high bonuses but charge fees from the second year if certain conditions are no longer met. Commerzbank, for example, charges 9.90 euros per month if there is no deposit of 700 euros. That would have eaten up my bonus completely within two years.

Third: choose the closing time strategically. I close an account no earlier than six months after receiving the bonus. That way I avoid the impression of pure bonus hopping and keep the option open of appearing as a new customer at the same bank again in a few years. Commerzbank, for instance, has an 18-month lockout for former customers, while ING requires a 24-month gap.

Putting extra income to good use: my financial plan

I didn't squander the 535 euros in bonuses but used them strategically. 200 euros went into a savings account (Tagesgeldkonto) at Renault Bank, which currently offers 3.50 percent interest. I used the remaining 335 euros for continuing education, specifically an online UX design course that broadened my career prospects. If you're looking for more ways to increase your income, you'll find practical approaches in my article on short-term job opportunities.

Another sensible alternative is to use the bonuses to pay off smaller debts. I know several people who paid off their overdraft loans faster with bank switching bonuses. Especially if you have financial bottlenecks, such bonus payments can make a real difference. Alongside bonus hunting, by the way, it's also worth looking at long-term savings strategies to build up additional reserves.

Frequently asked questions about bank switching bonuses

How much money do you get for switching banks?

In 2025 the range at most German banks is between 50 and 250 euros. Individual special promotions can go higher, but are tied to strict conditions. On average you can expect 100 to 120 euros if you meet the minimum conditions.

Which bank pays the highest switching bonus?

Currently Commerzbank offers the highest bonus at up to 250 euros, but only in combination with additional products such as a credit card and a brokerage account. Without additional conditions, norisbank leads with 110 euros, followed by Comdirect with variable promotions between 50 and 100 euros.

Can you collect several bank switching bonuses?

Yes, you can open accounts at different banks one after another and receive the bonus each time. It's important to observe the waiting periods and not to open too many accounts in a short time, so as not to burden your Schufa score.

Is switching accounts worth it just for the bonus?

If you convert the time investment of two to three hours into an hourly wage of 33 to 50 euros, it is financially worthwhile. You also often save on account fees permanently if you switch to a cheaper bank.

Are there bank switching bonuses without a minimum deposit?

A few banks, such as ING or Consorsbank at times, offer bonuses without a salary deposit, but require active use or additional products such as a brokerage account. The bonuses are usually lower than with offers that have a minimum deposit.

My conclusion: bank switching bonuses are a real side income

Over 500 euros in 18 months is not pocket money for me but a noticeable plus in the budget. The effort was manageable, the risks practically zero. What matters is that you read the terms carefully, observe the waiting periods, and don't see the bonuses as a free pass for unnecessary spending.

If you want to optimize your finances anyway, bank switching bonuses are a clever building block. Combine them with other strategies such as cashback programs, savings accounts with interest or targeted side income. My next switch is planned for mid-2025, as soon as the Commerzbank lockout has expired. Until then I'll use the time to watch for further lucrative offers and strike at the right moment.

Start with a bank where you're sure to meet the conditions, collect your first bonus and build on it from there. It's easier than you think and can lighten your budget sustainably.