Right now is one of the biggest issues the financial and economic crisis. Fan has now asked me to speak about the German banking system, and I will gladly do so.

There are many well-known German banks, for example, the German Bank or Commerzbank. In Germany there are very few private banks, but many public or cooperative banks. This is all a bit complicated, basically speaking, there are three different types of banks in Germany. On the one hand there is the credit union - a cooperative is a specific legal form. The best-known cooperative bank in Germany is probably the most popular and Raiffeisen Bank. The second type is a public-sector bank, for example, a savings bank. The main goal of the savings banks is not to make a profit. In simple words it is more to them than the citizens about the money. So it should be, at least. The third Bankenart is the private bank.

What can you do anything at a bank? First of all it has often been as a child the opportunity to put the saved money to the bank. I remember that I had a piggy bank - it was a pig from china, which had a slot above. There one could throw coins. If the pig was full, it was taken to the bank and deposited the money into a savings account. Thus, many German children learned to save.

Later they opened a checking account at the bank. This happens mostly when you start working and has a regular income. A current account is very convenient. You can automate many payments, which is then called a standing order. I have it set up, for example, is that every first day of the month the money is transferred automatically to the rent from my account to the account of my landlady.

Cheques are used in Germany only very rarely by private individuals. Instead, there are so-called mandates. I signed as a contract and this agreement allows my current provider that he may be every month or every quarter of withdrawing funds from my account. So he gets the money itself, the cost of electricity. The same applies to the heating, water, insurance and the like. Therefore, I am in charge of anything anymore, everything is automated.

If I want to send money to another person, because I bought something on eBay, for example, then I can transfer the money. A referral is a sheet of paper, a form. Where do I enter my name and account number and the name and account number of the people with whom I've bought something. Then the amount of money, and a so-called purpose, ie, a keyword, so the seller knows what the money is for. This transfer then I will give at the bank and the money is paid. Even simpler is online - most banks now offer online banking in Germany. Here I can fill out online, whom I would like to send money, and everything happens very quickly. This tells the bank that only gives me access to the account she gave me up for online access, which is protected with a password. This password I get sent by post. I also need each transaction, so confirm any such transfer, with a TAN. These TAN numbers get also sent by post.

Of course you can also pay in Germany long ago with plastic. This means you can use plastic cards to pay. The most common are cash cards. EC stands for Electronic Cash. With such a card, I can access my checking account. For example, I can withdraw money at an ATM. Therefore I need the ec-card into the machine, then enter my PIN number, are four figures, and then I can withdraw cash. I can shop with the ATM card as well. In the supermarket, the cashier asks me either in my PIN number, you must type it yourself, or you must sign a receipt, so a receipt. It's simple and fast. Also convenient is that you can pay with your ATM card often throughout Europe, and indeed whenever is printed on the card and the "Maestro" sign.

Credit cards are also widely used in Germany, but it's not normal to have small amounts paid by credit card. Above all, American chains like Starbucks but also accept credit cards for a coffee, but often not the case. This is mainly due to the fact that the credit card companies like Visa or Mastercard charges require the seller. His income is so low, if the customer pays by card. Especially in gas stations or restaurants and department stores but you can pay by credit card without problems.

Of course there are many other functions of a bank. You can put money on so-called hard money account, which then gets you higher interest rates. You can buy stocks or invest in funds that you can take out loans and much more - but that leads to far now. We prefer to hear music - and this time of Trashure "The woman who does not see me."

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Right now is one of the biggest issues the financial and economic crisis. Fan has now asked me to speak about the German banking system, and I will gladly do so. There are many well-known German banks, for example, the German Bank or Commerzbank. In Germany there are very few private banks, but many public or cooperative ...