Different types of bank accounts

There are two main types of bank accounts in Germany: the Girokonto and the Sparbuch. In the case of a Girokonto you can usually not overdraft the account – this means you cannot withdraw more money than there is on the account. If you arrange a Dispo-Kredit, you can overdraw your account – you call it “ins Minus gehen” in German. Caution: for the Dispo-Kredit you will have to pay extra fees! A Girokonto usually does not cost anything until you are 23 years old. Afterwards it may be possible that the account management costs something. If you have a Sparbuch, you can deposit money or withdraw money – but you cannot make referrals. So, for being able to make transfers, you definitely need a Girokonto.

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