Banking in Germany
Opening a bank account in Germany can be a bit challenging due to strict regulations. Here’s what you absolutely need to get started:
1. A German Phone Number: Essential for setting up your bank account and other services.
2. City Registration: You must be registered with your local city hall, a process known as “Anmeldung,” to open a bank account.
To get a German phone number, you’ll usually need an account to pay for it. A convenient solution is using WISE as an intermediary. WISE offers a “bank account” within the EU that allows for easy money transfers and currency conversion from USD to Euros. It’s perfect for setting up automatic payments and handling mobile phone bills. While there may be other options, WISE is one of the simplest to use. I’ll provide a detailed post on setting up a German bank account later.
Cash in Germany
It’s always a good idea to carry some cash with you. Euros come in coins for denominations under €5, and banknotes for €5 and above. Although most establishments accept credit and debit cards, it’s common for them to frown upon card payments for amounts under €10, with some refusing them altogether.
Coins are particularly useful for things like public restrooms, which are usually very clean but often require a small fee (around €1-2). Private restrooms may also have a small basket where you can contribute a euro or two for cleanliness. A clean restroom is worth the small fee!
For everyday small purchases like water, snacks, or an impromptu ice cream or coffee, having a few euros in your pocket is very convenient. While you can often pay with a card, cash is preferred for small amounts to keep transactions smooth and the cashiers happy.
Using ATMs in Germany
ATMs (Geldautomaten) are widespread and generally easy to use but be careful about which ones you choose. Some ATMs charge steep fees—sometimes as much as €9.99 for a €50 withdrawal, not including any currency conversion fees or charges from your home bank. To avoid these costs, use ATMs located inside banks, as they often charge no fees for withdrawals. Always read the on-screen instructions and fees carefully to save yourself some money.
Tipping in Germany
Tipping in Germany is typically modest. Most Germans earn a fair wage, so tips are seen as a nice extra rather than an expectation. A common practice is to round up the bill or leave an additional €1-5. However, in tourist-heavy areas, a 10% tip is often expected because it’s what foreigners are accustomed to doing.
Basic but Useful Phrases
- Darf ich bitte mit Karte bezahlen? (May I please pay by card?)
- Beinhaltet diese Rechnung Trinkgeld? (Does this bill include a tip?)
- Wissen Sie, wo ich einen Geldautomaten finden könnte? (Do you know where I could find an ATM?)
- Könnten Sie mir bitte einen Euro leihen? (Could you please lend me a Euro?)
- Wo ist die Toilette bitte? (Where is the toilet please)
Getting started with banking and handling money in Germany may seem complicated, but with the right preparations, you’ll navigate it smoothly.
