Reasons for having your own bank account (Girokonto) in Germany include:
- Payment of rent and health insurance contributions by monthly transfer from the bank account (direct debit) is usually requested by the landlord and the health insurance company.
It is also useful for the tenant himself to set up a standing order whereby the bank transfers a fixed amount of money each month until revoked.
- In order to keep the administrative effort for the TU BAF low, the semi-annual payment of the semester fee (94 euros) for re-enrolment (re-registration) should always be made by direct debit. For this purpose, the enrolled person allows the university to debit the money from his or her bank account. (see Payment of Semester Fee)
Choosing a Credit Institute
Some banks offer a special current account for students:
- Sparkasse Mittelsachsen - free of charge until the age of 25
- Deutsche Bank - free for EU citizens, for non-EU citizens for €5.90 per month
- Commerzbank - free of charge until the age of 30
A current account at an online bank such as DKB or comdirect is usually cheaper than a traditional account at a bank branch. Purely online accounts are managed via online banking and telephone calls.
Please note: Cash withdrawals are made via ATMs in affiliated bank networks. Therefore, before concluding a contract, please check whether and where in Freiberg cash withdrawal is possible free of charge.
Opening a Bank Account
To open a current account, you must submit the following documents to the bank:
- lease and/or confirmation of residency
- admission letter from TU Bergakademie Freiberg
Once you have received your certificate of enrolment from the university, you must send it to the bank within two weeks. The same applies to the residence permit from the Foreigners' Registration Office.
After re-registering for a new semester, please do not forget to send your new certificate of enrolment to your bank.
Termination of the Bank Account
Please do not forget to cancel your current account at the end of your stay in Germany.