Germany
Banking in Germany
Germany Business Experts
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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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> Coinbase
Coinbase offers a user friendly platform allows you to buy and sell more than 30 cryptocurrencies.
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> Agility PEO
Your trusted Global PEO provider. We’re Agility PEO. And we pride ourselves on our people-focused approach to business. We’re headed by an experienced management team that helped create one of the very first successful Global Providers. Today, that same knowledge and experience mean that we can provide the PEO services you want, when you want it. Approachably, ethically and efficiently.
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> Freedom24
The Freedom24 online trading platform by Freedom Finance contains 1 000 000+ investment products including new stocks at their IPO (initial) price.
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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.