Last season, the 21-year-old right winger was sent out on loan by Crystal Palace to League Two outfit Bradford City.
Banks racked up a total of 36 appearances for Bradford City last season and now seems set for the next step in his career.
The winger has entered the final year of his contract and is not in Crystal Palace boss Roy Hodgson’s plans.
Banks has no shortage of suitors in the Championship, as Blackburn Rovers and Blackpool are both keen on him.
Neil Critchley agreed a deal with Crystal Palace for the winger, but German outfit St. Pauli came in late to swoop in.
According to German daily Bild, Banks is in Germany to have talks with the 2. Bundesliga outfit regarding a deal.
Last season, St. Pauli finished fifth in the league table and they believe the inclusion of Banks will strengthen their hopes of promotion.
