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108 votes

Random and anonymous `western union´money transfers into my account, is it a scam?

This is either a scam, or a legitimate error by the sender [more likely a scam, just due to statistical likelihood, though details are unclear]. Either way, the money isn't yours, and eventually you ...
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81 votes
Accepted

Borrowing money in one country to pay off debt in another

Logistics of borrowing in a different country aside, financially if the reason the interest rates are higher is because inflation is expected to be higher, you might be trading smaller interest ...
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  • 113k
65 votes
Accepted

MasterCard won't disclose who leaked my credit card details

As indicated in comments, this is common practice in the US as well as EU. For example, in this Fox Business article, a user had basically the same experience: their card was replaced but without the ...
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  • 34.6k
42 votes
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What do I need to watch out for when receiving a large sum of money as a gift in Germany?

I am Swiss but I will attempt to answer this as good as possible: 1 Storage You get a bank account. Done. A bank account doesn't get you a lot of interest, but it is a safe way of storing the money ...
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34 votes
Accepted

Umlaut Character in Account Holder Name (German Bank)

I am from Germany and occasionally avoid Umlauts because I use a non-German keyboard layout. So I might share some experience here. Usually, the German financial institutions are ok with ue, ae, oe, ...
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  • 364
34 votes
Accepted

Do insurance rates depend on credit scores?

Ok So I worked some time in the insurance industry, in Germany, so here is what´s relevant for you: Car insurance is mainly priced by 4 factors: Your track-record "Schadenfreiheitsklasse" - you can ...
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  • 5,216
30 votes

Borrowing money in one country to pay off debt in another

I'm currently living in Germany and can borrow a substantial amount of money at almost no interest, effective 3.4%. Do you know what you are allowed to use that money for? A mortgage for a home in ...
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  • 603
25 votes
Accepted

Why is the price of hydrogen (H2) in Germany fixed at 9.50 EUR per kg?

Currently only one company builds, maintains and operates these H2 Stations. Its the H2 MOBILITY Deutschland GmbH & Co. KG which in turn are six companies (Air Liquide, Daimler, Linde, OMV, Shell ...
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  • 939
24 votes

In Germany, how can I maximize the impact of my charitable donations?

Which charitable cause is the most worthwhile one? That's a very broad and difficult question, both ethically and practically. I do not fathom to estimate whether a dollar spent on vaccinations in ...
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  • 21.6k
24 votes

Negative p.a. rate for a 12-month loan

Since 18 September last year, the European Central Bank has paid -0.5% on overnight deposits from Eurozone banks. If the bank is charging you -0.4% interest, they’re still doing better than they would ...
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  • 22.2k
23 votes

Borrowing money in one country to pay off debt in another

The big risk is that there is a major shift in exchange rates. As pointed out in D Stanly's answer exchange rates can shift in the long term due to differing inflation rates in the two countries but ...
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  • 2,708
23 votes

Should I buy a house now before prices rise even more?

I'm from Germany as well and I tried to collect as much information as possible the last month. However, the subject is very complex and depends on a lot of factors. From what I heard so far (having ...
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  • 231
22 votes

Should the bank cover money lost due to an unsuccessful transfer?

Since the transaction was not your bank's mistake (but a decision by the Indian government) why should your bank bear the cost of the unsuccessful transaction? Your bank charged a fee for a service ...
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22 votes

Umlaut Character in Account Holder Name (German Bank)

Chances are umlauts are ignored/implicitly converted anyway. SWIFT symbols It is important to remember that cross-border payment form can only be filled in with SWIFT symbols. If illegal ...
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  • 4,605
20 votes

When to stop saving and start investing?

Given your specific situation, being debt free and in Germany where there are supportive social structures in place for potential unemployment etc, I would consider the following: Depending on your ...
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  • 4,017
20 votes

Do insurance rates depend on credit scores?

I find the possible answers to your specific question fascinating: If it is true, why do insurance companies do that? In the US there have been studies that show a correlation between higher ...
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  • 45.2k
20 votes

Is my investment safe if the broker/bank I'm using goes into insolvency?

A simple insolvency or bankruptcy of a broker shouldn't affect that status of ETFs and stocks you own, because they are not part of the assets of the broker. This is different from fractional-reserve ...
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  • 1,079
18 votes

Random and anonymous `western union´money transfers into my account, is it a scam?

Could this be some kind of weird (and honestly really badly thought out) scam If 2 months have gone by and you haven't got a phone call / email; this looks less likely like a scam. Scammers don't ...
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  • 56.5k
17 votes

I have an extra 1000€ per month, what should I do with it?

I'm almost in the same situation as you. Here is what I'm doing. Get enough cash on hand to handle every likely emergency. I hold 10.000€, which can keep me afloat for several months, with ...
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  • 377
16 votes
Accepted

In Germany, how can I maximize the impact of my charitable donations?

You're clearly aware of the subjective nature of your question, so I won't hit too hard on that point, but I think it would be worthwhile to spend a bit of time focusing on the type of impact you'd ...
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  • 2,232
15 votes

I have an extra 1000€ per month, what should I do with it?

First, save up at least 3000 EUR and put it into a Tagesgeld account. That's your emergency fund for when you need money quickly. Second, allow yourself some luxury. Have fun, do some travelling. You'...
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14 votes

Is it better to take highest mortgage you can afford?

Two main questions you need to consider: 1. Interest rates What are interest rates like in Germany right now? You need to be comfortable with the payments at the current rate and also at ...
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  • 21.7k
14 votes
Accepted

Is my investment safe if the broker/bank I'm using goes into insolvency?

I'm German, but not a lawyer, so I can't really make sense of the statute of the Entschädigungseinrichtung alluded to in another answer. But the reputed German finance/consumer magazine "...
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  • 1,647
13 votes
Accepted

How to pay taxes for ETFs in Germany?

Do I have to pay taxes on the distributions? Yes, you generally pay Kapitalertragsteuer (the capital gains tax), Solidaritätszuschlag (the solidarity tax), and (if you are registered as a member of a ...
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  • 416
13 votes

Job offer Purchasing manager

This is scam. No one offers commission for a purchase manager. Once you start communicating there are different ways this will proceed. All of them you will lose money
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  • 56.5k
13 votes

Net salary in Germany for programmers

There are a lot of differences between being a regular employee ("Unselbstständig") and being a freelancer ("Selbstständig") in Germany. With regular employees, the insurances for health, care, ...
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  • 21.6k
12 votes

I still have my German bank account, but I'm not residing within the EU anymore. Can I use it to receive EU income?

There is no reason why that wouldn’t work, and there should be no additional cost just for living abroad. However, the bank may bill you more for actions that actually cost more, such as sending ...
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  • 362
12 votes

When to stop saving and start investing?

Here's the general order of things: Keep 3-6 months of expenses in a savings account for emergencies (lose your job, car accident, mauled by dingos, etc.) Pay down all your debt as fast as possible. ...
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12 votes

What is the advantage of a Sparbuch, and how does this work?

This is probably mainly for historical reasons. When I was young (born '87 ;) ) and we still had positive interest rates, this was really common. Every child had one and on world savings day one ...
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