Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.
Where to manage your finances
There are a large amount of banks and
Sparkassen (savings banks) in Germany. Banks are private institutions. Sparkassen are run by local public authorities, which explains their names, such as Berliner Sparkasse, Hamburger Sparkasse and Sparkasse Dresden.
How to open a bank account in Germany
Opening a bank account is a straightforward process in Germany. However you often need to show some proof of a German address besides your national identification document.
EC cards & credit cards, ATMs
In order to get money or withdraw cash, you should consider getting an EC or credit card for your stay in Germany. Fees vary considerably for different types of transactions and cards, so it is worthwhile to shop around.
How to transfer money within Germany or abroad
A transfer is used to transfer money from one bank account to another, using a special form (
Covering yourself against liablities and other problems
Apart from the obligatory social insurance there are also a number of possibilities of obtaining private insurance to cover other eventualities.