This information is for orientation only, not tax or legal advice. For investments and complex filings use ELSTER or a professional adviser.
Finance roadmap
Girokonto → Sperrkonto (visa) → Lastschrift rent → Salary → Optional Steuererklärung
Student checklist — finance
- Pre-visa: open Sperrkonto (Fintiba, Expatrio, bank).
- Post-Anmeldung: Girokonto with Meldebescheinigung.
- Wait for Steuer-ID — Letter from Finanzamt.
- Haftpflicht — Sign up early (low student rate).
- Schufa: request free data once a year.
Current account
| Type | Examples | Note |
|---|---|---|
| Branch bank | Deutsche Bank, Sparkasse | Branches, sometimes fees |
| Direct bank | DKB, ING, Comdirect | Often free for students |
| Neobank | N26, Vivid | Fast; check acceptance for rent |
- Documents: passport, Zulassung, then Meldebescheinigung.
- Video-Ident — Standard for online banks.
- Girocard — Accepted almost everywhere; Visa often debit only.
- 2FA — Enable for transfers.
Sperrkonto and liquidity
- Visa deposit: €11,904 minimum (12 months).
- Withdrawal: approx. €992/month — does not cover Kaution + first Warmmiete.
- Bring extra funds — For initial setup (furniture, deposit).
Payments
- Überweisung SEPA — Standard bank transfer.
- Lastschrift — Direct debit for rent/insurance.
- Dauerauftrag — Standing order (rent).
- Cash — Still common in Germany — keep a small buffer.
Schufa and renting
- Schufa-Bonitätsauskunft — Often required by Vermieter.
- Free Datenauskunft — Check errors on meineschufa.de.
- Mietbürgschaft — Parent guarantors if no German credit history.
Student tax
| Topic | Note |
|---|---|
| Steuer-ID | 11 digits, permanent |
| Steuererklärung | Useful with part-time work — refund possible |
| Kirchensteuer | 8–9% if registered with church — opt-out via Standesamt |
| Foreign accounts | Declare if mandatory for residents |
Insurance
- Haftpflicht — Third-party liability — approx. €5–10/month for students.
- Hausrat — Optional for room theft/fire.
- GKV — See Health (approx. €120/month).
Saving (basics)
- Tagesgeld — Interest-bearing liquidity.
- ETF Sparplan — Long horizon only; read BaFin warnings.
Official links
Sources
Visa often requires minimum balance on Sperrkonto — plan € conversion before the flight.
Quick reference
Low university fees are eaten by rent and insurance in big cities. Realistic budget: €950–1,400/month outside central Munich/Berlin; higher with expensive rent.
Realistic monthly budget
- €/month
- 2026 indicative
Banking and payments
Bank account and payments
Girokonto with IBAN for rent. N26, Comdirect, local Sparkasse. Girocard for EC; Visa contactless mainly in large chains.
Taxes in daily life
Day-to-day taxes
VAT included in prices. Mini-job: hour thresholds and contributions — ask campus HR. Rundfunkbeitrag mandatory per flat/household.
Groceries and dining
Discount: Aldi, Lidl, Rewe. Canteen (Mensa) cheap. Restaurant: €12–18 main; beer 0.5L €4–6.
First-month checklist
Deep dive (optional)
Go deeper
Operational detail and official links—amounts and deadlines change; always confirm on the competent portal before filing or paying.
Banking & payments
Current account & SEPA
German IBAN, SEPA transfers, and direct debits; instant payments if your bank supports SEPA Instant.
SCHUFA & credit checks
Landlords often request a SCHUFA report—you can request information held about you under data-protection rules.
Tax & filing
Tax classes & wage tax
Steuerklassen change withholding; keep your annual Lohnsteuerbescheinigung.
Markets & insurance
Everyday insurance
Personal liability insurance (Haftpflicht) is widely recommended in addition to mandatory health cover.
Post-arrival checklist
EU/EEA
- Anmeldung & Steuer-ID
- Bank account & phone
- Health insurance when working or beyond student rules
Non-EU
- Valid residence permit
- Banking aligned with your visa
- ELSTER if you must file in Germany
This block complements the guide with institutional entry points—not legal or tax advice.