Deutsche Bank vs Sparkasse, N26 digital banking, SCHUFA credit score, and the cash-loving German banking system.
• Sparkasse: Savings bank. Most branches in Germany. Local-focused.
•
Deutsche Bank: Largest private bank. International.
•
Commerzbank: 2nd largest. NichtKonto (free account).
•
Volksbank/Raiffeisenbank: Cooperative banks. Community-focused.
• N26: German fintech. Free Girokonto. Best for newcomers!
•
DKB: Free visa card. Popular with expats.
• ING: No
fees, good savings rates.
• Vivid Money: Cashback, sub-accounts.
•
Tomorrow: Sustainable banking.
• Documents: Passport + Anmeldung (address registration)
•
Anmeldung is KEY: Can't do almost anything without it!
•
N26/DKB: Open BEFORE Anmeldung (passport only)
•
Girokonto: Current account (Giro = transfer)
• IBAN: DE
+ 20 digits
• SCHUFA: German credit score (97+ = excellent). Need for renting!
•
EC-Karte (Girocard): Main debit card. Used everywhere.
• Cash is
KING: Many places don't accept cards! Always carry cash.
• SEPA
transfer: Free EU transfers (0-1 day)
• PayPal: Very
popular in Germany