Germany
Banking in Germany
Germany Business Experts
Germany related forum posts
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Germany
Hi there,Can anyone direct me to purchase Public Liability insurance in Germany?I am moving there next month for a couple of years and would like to set up working from home business- specifically exercise classes. How do I go about purchasing some public liability insurance, please?Many thanksAbdullah F Mishail
Total Posts: 1 Last post by egarinc-us
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How do technology and services companies decide to expand internationally?
What are the primary considerations for establishing a North America sales and business development presence?
Total Posts: 1 Last post by rfucci1
Banking in Germany
There are four main kinds of banks: public sector commercial banks (Private Geschaftsbanken), savings banks (Sparkassen), credit cooperatives (Kreditgenossenschaften) and the Postbank.
Banking in Germany is a familiar and straightforward process. The most common form of bank account is a Girokonto, which is not dissimilar to a current account in the UK. To open an account, you will need to provide the following information:
- A form of ID (passport)
- Proof of address
- Money for initial deposit
If you bring cash, your account is opened immediately. If you are transferring funds from your home bank, it can take a couple of weeks for the amount to be credited to your account.
When you have opened the account, you will also be given a Eurocard. A Eurocard is pretty valuable in Germany nowadays: it lets you get cash or statements 24 hours a day from any cash machines, and it is also accepted as payment in a growing number of places.
Organisations that can assist with Banking
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> Need to open a bank account in this country?
Business Banking advice Advice on which type of bank account would best suit your business. Help making payments – and getting paid.
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> The Motley Fool
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