Money and finances

Everyone can open a bank account.
not have an apartment or a registration/registration confirmation.
Man muss only have one ID and one address.
An address of friends or a counseling center is also OK.
Sometimes the bank says it cannot be done without registration.
You can tell the bank this Show information. 

If you cannot visit the bank in person, you can apply to open an account in writing.
With this Form do that.
If a bank still refuses to open an account, you can contact the authority 'BaFin' (Federal Financial Supervisory Authority).
BaFin ensures that all banks in Germany operate correctly.
Here you can contact BaFin. 

There are many different banks in Germany.
Some have branches where you can go.
Some are only online.
You have to see which bank suits you best.
There are regular fees for a bank account.
Here you can see which fees are allowed and which are not. 

If you have a bank account, you receive a regular bank statement.
Most of the time you get a bank statement for one month.
The bank statement contains all information about incoming and outgoing money.
For example: when the money comes from work or when the rent is paid.
It is very important to keep this bank statement.
Very often you have to prove that you paid something specific or how much money you earned.
If you lose a bank statement, the bank can provide a copy.
But you'll have to pay a relatively large amount for it. For example, 5 euros for each bank statement.
It's easier if you use online banking.
Then you always have your bank statements safely in your online mailbox and don't have to pay anything for them anymore. 

If you pay for something with a bank account, you can pay by bank transfer or direct debit.
Transfer: You send money from your account to another account. For example, the rent money to your landlord.
Direct debit: A company automatically deducts money from your account each month. For example, the money for your apartment's electricity bill is taken directly from the electricity provider.
When you transfer money, you can specify a 'purpose'.
The intended purpose is the reason why you are transferring the money.
For example, 'Rent August 2024'.
Some people also use credit cards to pay for things. 
However, credit cards can incur many fees and high interest rates.
In the end, you end up paying much more than with your normal bank account. 

Do I need to sign a contract for my mobile phone or internet?
You don't necessarily have to sign a cell phone contract.
There are also prepaid SIM cards. 
You can then always charge your phone. 

You may enter into contracts with various companies in Germany.
For example, for mobile phones, internet, electricity, insurance.
You should always think carefully about which contracts you enter into.

Above all:  

• How long does the contract last?  
• How much do I have to pay each month? 
• When and how can I terminate the contract? 

Very often, people sign a contract quickly. It may be very cheap at first, but after a while, it becomes more expensive.
You can visit websites like “CHECK24“ to compare offers. 

In Germany there is a broadcasting fee for TV and radio.
The money is used to finance the TV stations ARD, ZDF and Deutschlandradio.
They are public broadcasters and produce information and programs for the entire population.
If you have enough money, you have to pay the contribution.
Even if you don't watch German television or listen to German radio, you have to pay.
However, if you earn little and receive citizen's allowance, you don't have to pay.
You apply for exemption from the broadcasting fee at the Contribution Service hereThis video explains how to fill out the form:

If you do not understand certain fees or are not satisfied with a contract, you can contact the consumer advice center.
The consumer advice center is there to inform people and protect them from dubious contracts. Some consultations there require payment.
Here are the contact information for the Leipzig Consumer Advice Center.