Banking and Money

General information

A German bank account is needed for many recurring transactions of everyday life, from receiving your salary or scholarship payout to paying your health insurance, rent, utilities or your semester fee as an enrolled student. We therefore recommend to open a bank account as the first thing upon successful registration in the city.

Note that cash and debit cards are the prevailing means of payment in shops in Germany. Credit cards and cheques are uncommon and rarely accepted. Cash machines/ATMs are marked with the eurocash (“ec”) sign.

For the essential information on this topic for incoming researchers, such as required documents, please read the corresponding section of our Welcome Guide carefully first.