Finance and Banking Services in Germany: what actually matters to know

Collected from real experience: «Finance and Banking Services» in Germany — tips, cases and rules as they are. For your case — ask Luky.

Topics

💰 Money Transfers and Bill Payments6 notes from chats 💰 Banking and Account Management5 notes from chats 💼 Tax Residency and Income4 notes from chats

From real experience

how-toNon-EU citizens (e.g., Israeli) can claim Tax Free on purchases from stores like MediaMarkt in Germany. 1. Request a Tax Free form at the point of purchase. 2. At the airport, present the filled form to customs for a stamp. 3. Proceed to the designated refund company's (e.g., Global Blue) counter for the refund. 4. Opt for a refund to a credit card rather than cash to minimize commission fees. 5. Exercise caution if traveling to Russia with a single booking, as this might involve additional considerations for Tax Free.

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riskIn Germany, registering two residences (Hauptwohnsitz and Nebenwohnsitz) can trigger tax scrutiny.

Some municipalities (like Chemnitz mentioned here) levy a secondary residence tax (Zweitwohnsitzsteuer). If a person claims their main residence is in one city but their work is in another, authorities might investigate to ensure the declared 'center of vital interests' (Mittelpunkt der Lebensinteressen) is accurate to prevent tax evasion.

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tipWhen selecting 'Privathaftpflichtversicherung' (private liability insurance) in Germany, be aware that policy terms and costs vary significantly between providers.

Key coverages often include damage to rented property and key loss. Companies like Allianz offer these policies. Utilize comparison platforms such as Check24 to evaluate different options and find the best fit for your needs.

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riskInformal currency exchange offers (RUB to EUR) in chat groups in Germany are highly susceptible to scams.

A common tactic involves two individuals: one 'recommends' a seemingly reliable exchanger (the scammer), who then defrauds the victim. It is strongly advised to avoid such offers and only use official, regulated financial institutions for currency exchange to prevent financial loss.

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how-toWhen facing excessive customs duties on shipments to/from Germany, users can contest the valuation.

Required evidence includes formal invoices, payment transaction history, and original receipts. Documentation from unverifiable online platforms is often rejected. The formal appeal process is necessary if the initial declared value is disputed.

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serviceWhen choosing health insurance in Germany, consider providers like Care Concept (Economy 3 at approx.

€48/day, Visa Protect at approx. €2.6/day) and HanseMerkur (approx. €2.5/day). Premiums may vary based on age, with higher rates for individuals aged 65-74.

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tipHanseMerkur insurance policies for travel usually detail the coverage amount (e.g., 50,000 EUR for the Basic tariff) within the final policy document rather than on the public landing page during the quote process.

Costs vary based on the specific tariff and the duration of stay.

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