Bank account
1
Why do I need it?
To be able to pay your rent in Germany, which is withdrawn from your account every month on a specific date through the so-called SEPA-Verfahren, you need to have a German bank account. Bulgarian bank accounts do not allow cash withdrawals.
The most well-known and widespread banks in Germany are Deutsche Bank, Commerz Bank, Sparkasse, Postbank, Hypovereinsbank (belonging to the UniCredit group; those of you with Bulgarian accounts in UniCredit can benefit from preferential conditions).
(Bai Ganyo's advises: do not open an account with the local Sparkasse. The moment you leave the boundaries of the region served by the respective Sparkasse, you will be charged fees when using an ATM, even if it belongs to Sparkasse.)
2
How to open an account?
Most banks also offer an online process for opening an account. If you wish to do it in person, you will need to schedule an appointment with the respective bank. To open an account in a bank, you will also need your Steuer ID issued after your registration with the municipality. Opening an account, as well as obtaining a standard card, is usually free.
IMPORTANT: To open a German bank account, you will also need a German phone number. You can obtain one by purchasing a prepaid SIM card (Aldi Talk, O2, etc.) or by entering into a contract with a specific communication company (Vodafone, Deutsche Telekom, O2).
IMPORTANT: Most German banks offer preferential conditions for students, such as exemptions from certain transaction fees until the age of 26. This is why it's crucial to mention that you are a student when opening an account.