There are almost 2,000 banks in Germany. Many of them offer multiple checking accounts for private individuals. No wonder the choice is difficult. How can you find the right account in this jumble of account models, terms and conditions? What makes a good account and how do you close it? We have the answers to your questions.
What is a checking account?
The checking account is your virtual wallet. Your employer will then transfer your wages to you. You can then use it to settle bills, pay by card or withdraw cash. Your bank can also set up an overdraft facility directly on the account. So you stay flexible until the next salary is received without having to apply for a loan. The bank ensures that your payment flows run smoothly: They carry out transfers for you and credit your current account with incoming payments.