An interesting thing to note about Germany is the bank system. In general
there is not too much competition like you might see in America. Afterall
presently there is only one phone company,
Deutschetelekom. However there are a few banks you may choose from. Presently I know about Deutsche Bank, and
Sparkasse Aachen. I find Sparkasse Aachen
satisfactory for my needs. As a student, the account is maintained free of charge. That means that I
pay no monthly fees to have my account like a normal account holder would have
to pay. However that means I also don't receive any form of interest. Though
I'm not sure if it is possible to set up such an account. I suggest asking for what type of account you may be able to get as a
student, as I just wanted to have some place to store money for the time
being. But I what I think is just a basic account. I have an ATM card, with
a pin number and I have the ability to use that card almost anywhere in Europe.
Though I must remember what my balance is. I DO strongly suggest getting an account, as you can have your monthly bills
payed directly from your account. This means your rent, your phone bills, if
you get cable or something for TV then you can pay directly from there as well.
The system almost works on a credit system. There have been times that I have
not had money in my account, but they withdraw it anyways, and I just have a
negative balance on my account, waiting for when I deposit my next amount of
money. It all works out rather well. If you do not have an account at a bank, you will be charged an extra
5 Marks for every month on your room rent. So in the end it works out best
that you set up a free account with the bank. For Sparkasse Aachen, you do not receive a balance in the mail like you
would in the US. Instead you must go into the bank, and put your card into
a machine usually in the middle of the bank, or to one of the walls. Pretty
easy to find, looks like a big robot or something, about waste high. Each bank has it's own ATM machine generally positioned just outside the
bank plus machines throughout the city. They are not quite as specific as in
the US. Meaning you could use a machine at Deutsche Bank for a
Sparkasse Aachen account. Or vice versa. As well as withdraw
money by use of your Credit Cards.
Go back to Aachen where you belong.
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