Opening a Bank Account

Before you open a bank account, the following needs to be clarified:

• How high are the bank charges?
• Will you get an overdraft facility and what are the current interest rates?
• Where can you withdraw money free of charge (how many of these machines are located in your area)?
• Will you receive an EC card immediately?
• Can you withdraw money from cash machines as soon as the account is opened?
• How long will it take before standing orders ("Daueraufträge") and direct debit authorisation ("Einzugsermächtigungen", "Lastschriftverfahren") can be processed?
• When can you apply for a credit card and how long will it take to process?