Money in Germany

The currency in Germany since 2002 is the Euro. In 2002 it replaced the German Mark which had been the official currency of West Germany since 1948 and all of Germany since 1990. Germany is one of the twelve original European Union nations to adopt the euro, represented by the twelve stars on the design of the euro coins and notes. Coins are issued for one and two euros, notes for 5, 10, 20, 50, 100, 200 and 500 euros.

Banks in Germany are privately run. Most German banks now provide online internet banking. Opening an account in Germany is fairly easy, but requires proof of address. German checking accounts come with EC cards or check cards which are like debit cards, allowing cash withdrawals from ATM machines throughout Europe with only a secret PIN number. There is a fee of a few euros for withdrawing from a different bank's ATM, however.

Credit cards are also available but German banks do not like to give out much credit, and credit cards are generally unpopular. There is also the Eurocard, a credit card connected to Mastercard that is valid anywhere in the world. Debit and credit cards from other countries will usually work in German ATM machines for getting cash.