Opening a bank account / means of payment

If you plan to stay in Osnabrück or Germany for a longer period, we recommend that you open a bank account during the first days of your stay. The recommended type of account is called a Girokonto, which you can open at a bank, Sparkasse, or Postbank. A Girokonto will enable the direct deposit of your salary or grant as well as the direct payment of monthly bills such as rent, insurance, etc.

When you open an account, you will receive a debit or EC card, which can be used to withdraw cash at ATMs. You must bring your passport or national ID card in order to open a Girokonto. Fees for the account will vary according to the bank, so it pays to shop around first before deciding upon a bank.
If you often deposit or withdraw money from an account in your own country, it is advisable to ask your home bank if they cooperate with any German banks. This could make transactions between your two bank accounts easier and less expensive.

In addition to cash you may also bring credit cards or traveler’s checks. But even if credit cards are becoming increasingly accepted in Germany, it is still usual to pay in cash or with an EC card, especially for day to day shopping or for smaller amounts.