Closing Sparkasse account from abroad: everything you need to know

Sparkasse®¹ is a regional savings bank in Germany which operates through an extensive branch network, with a good range of products. If you’ve lived in Germany previously and opened an account with Sparkasse, you’ll need to close it down once you move away, to avoid unexpected fees and to remove the risk of the account being used fraudulently.

Unfortunately, closing a Sparkasse account from abroad isn’t the easiest proposition - this guide walks through your options.

Can you close a Sparkasse account from the US?

While you should be able to close your Sparkasse account from abroad, it’s not necessarily a simple process. Sparkasse, like several other major German banks, works on a regional basis, and so the services and processes used by one branch of Sparkasse aren’t necessarily exactly the same as any other.

This also means that there’s no unified online system you can use to digitally delete your account from abroad. Instead, the usual protocol is to visit the branch in which you opened your account, or to write to it and mail in your account close request.

Assuming visiting a branch in person isn’t an option, asking for your account to be closed by mail is likely to be the best choice for you.

You can draft your own letter (in German), or choose an online site like Aboalarm®² which has template letters available to help guide you in requesting your account to be closed.

This can make the process a bit easier and should help you make sure you add all the information needed for the bank to close your account for you.

Can you close a Sparkasse account online?

You can not usually close a Sparkasse account online. The standard way to close your account is in person - or by mail if this isn't possible.

However, because Sparkasse branches in different cities may have their own policies, there’s no harm in giving your local branch a call to ask about the best way to close your account from afar.

Closing your Sparkasse account from abroad: step by step

The chances are that you’ll need to close your Sparkasse account by writing to the branch which holds your account, and requesting the closure.

Request your Sparkasse account closure yourself

The cheapest way to close your account is likely to be by writing to the bank yourself. This is a simple option as long as you speak adequate German, or have someone who can translate for you.

It’s well worth calling your local branch in advance of drafting a letter to check what information is needed. This will avoid you sending an incomplete letter and needing to write again.

It’s also worth double checking if your branch will allow you to send your letter by email instead of in paper copy. Some ex-Sparkasse customers report online that their branch allowed an email - but this doesn’t seem to always be the case.

Use a third party account closure service

The other option is to use a third party service like Aboalarm which lets you access contract termination letters for a fee.

You’ll pick out the branch of Sparkasse which holds your account, enter your personal and contact information and get a template which guides you through the process of writing your account close letter including all required information. There’s a fee for this service³.

It’s worth shopping around if you choose a third party service and asking local German friends for advice too. With Aboalarm in particular, take a look on Trustpilot® for recent reviews of the service offered - the overall ratings from past customers are very good at 4.2 out of 5⁴, but the service seems to divide opinion, with some 18% of reviews giving only 1 star at the time of writing.

What’s the best way to send money internationally?

Banks are certainly one option for sending money internationally, as are services like PayPal. But the problem with banks is they can often be slow, expensive and inconvenient. Luckily, there’s a better alternative out there.

You can send money worldwide with Wise for low fees and the mid-market exchange rate. It’s easy and quick to set up a payment online, and you’re guaranteed secure transfers even when sending large sums.

Wise is a money service business (MSB) regulated by 12 international financial authorities, and uses sophisticated security features to keep you and your money safe.

Open a Wise account, and you can send, spend and convert between 40+ currencies whenever you need to. You can even receive money from all over the world using your own local account details.

As if all that wasn’t enough, there’s a Wise debit card too. For a one-time fee of just $9, you can spend in over 150 countries in the local currency. Your USD is automatically converted at the mid-market rate, for just a small conversion fee*.

Open a Wise account today

💡 Need to make a business payment? With the Wise Business account, you can send up to 1,000,000 USD per transfer from licensed states.

Discover the difference between
Wise Business vs Personal

How much does it cost to close a Sparkasse account?

Check your Sparkasse account fee schedule to understand if any costs might apply to close your account or transfer out any remaining funds.

Different Sparkasse branches offer their own products, and so the fees may also vary. If you’re unsure, give the branch a call to ask for individual advice.

If you're using a third party service to support your account closure make sure you’re very clear on the costs involved, and what you’re actually getting for your money.

How long does closing a Sparkasse account take?

If you’re needing to close your account with Sparkasse by mail, the main thing which will take time is likely to be the mail. If you’re in a hurry you may want to send your request by registered mail, and call the bank to follow up after it arrives.

Tips and challenges for closing your Sparkasse account

As we’ve seen, closing your Sparkasse account isn’t necessarily going to be a straightforward process.

If it’s at all possible, close your Sparkasse account before you leave Germany. This is much easier as you’ll be able to visit a branch in person and complete your request, withdraw remaining funds and hand back any account collateral like your card or passbook.

However, if you’ve already left Germany, you should still be able to close your Sparkasse account by mail. Write to the branch which holds your account, to ask for the account termination as soon as you can.

Sources:

1. Sparkasse
2. Aboalarm