Germany
Banking in Germany
Germany Business Experts
Germany related forum posts
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Thank You Discovery Investment
I have been trying to get a loan for some time now due to the large sum amount of the money to expand my business in Finland but i was unable to get a loan due to my credit score All other corporation/bank turned me down. Till i was introduced by start up overseas to Discovery Investment LOANS and i was able to get a loan from them without any delay. So i am using this opportunity to inform ev
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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
The Motley Fool is dedicated to helping the world invest — better. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, mutual funds, and premium investing services.