Freedom! Independence! Liberty!

Moving out from your parent’s home, into a new city or even country means a great change. We want to make sure that you’re as prepared as you can be!

This article covers a checklist of five topics:

  • University enrolment
  • Public health insurance
  • Liability insurance
  • German bank account
  • Blocked account

Please note that we will leave out the whole process of visa application, as it would go beyond the scope of this article.

Let’s dive right in!

1. Keep on rollin’: University enrolment

Let’s start with an easy one. When signing up for a course of studies at a university and being granted for it, you’ll automatically get enlisted. This proof of being a student is needed for a lot of administrative things, some of them mentioned below: for example your collegiate health insurance, bank account, BAföG, a student job. Just like a student card, you can use it for getting many discounts in cultural institutions such as museums, theatres, cinemas, shops, and even subscriptions to fitness clubs or similar. So hold on to your matriculation, it’ll save you lots of money! 😉

colorful umbrellas above street
Photo by Vicente García Pérez on Unsplash

2. Stay well: Public health insurance

Here are a few basic questions to determine which case you fall in:

  • Are you younger than 25 AND come from Germany? – Then chances are high that you are covered by dependent insurance through your parents. Congratulations! You may move to the next checkpoint 😉
  • If you’re older than 25 but below 30, you are a candidate for the collegiate health insurance. You will need to take out insurance cover for yourself, for example at Techniker Krankenkasse. You’ll need your matriculation as proof; premium starts from around 80 € per month.
  • If you’ve hit 30 and still a student, you can look for a regular insurance at a cheaper rate; some insurances offer “exam rates” over a period of up to six months.
  • You come from abroad and already are insured? – With many European countries, including all EU states, there is a social security agreement. This means that your foreign insurance will be accepted as well. You still need some kind of proof for it, though. Ask your insurance back home about the options. For students, there exists a European Health Insurance Card (EHIC), which can be applied free of charge.

However, if you want to take on a student job in Germany, you will need a German health insurance.

Find more information about health insurance for international students here and here.

3. Stay safe: Liability insurance

Liability insurance provides protection against claims resulting from injuries and damage to people and/or property. You will need this insurance when moving in to THE FIZZ.

Caution: Unlike the health insurance, you are not automatically covered by dependent insurance as a student under the age of 25. This would only be the case if you were still living with your parents.

Luckily, it is pretty cheap compared to its benefits. The liability insurance from our partner Getsafe starts from 4,70 € per month.

white unicorn with coins
Photo by Annie Spratt on Unsplash

4. Save your money: German bank account

As a foreign student, it is a good idea to open a bank account at a German bank. This way, you can withdraw money free of charge from cash machines, make payments electronically, and set up “standing orders” for regular payments like rent or telephone bills to ensure an automatical transferral every month. Various banks have decent offerings for students or people under 30. Especially easy to set up are online bank accounts, for example at Comdirect, N26, or Commerzbank.

Here’s a list of German banks for international students.

Read here how to open a bank account as a student.

5. Hold your money safe: Blocked account (for Non-EU students)

As a foreign student not from an EU member state, you must provide proof that you have the financial means to pay for your course of studies, language course, preparatory course, or job search. This requires a special type of bank account, the German Blocked Account (Sperrkonto). Unlike the regular bank account (see point 3 above), this account is not freely accessible to the holder. When applying for a visa, you will have to pay around 850 € for each month you’re planning to stay in Germany into this account to prove sufficient financial resources.

The cheapest and easiest way to open a blocked account provides our partner expatrio. Check out their page to learn everything you need to know about it!

And there you have it! This is all you need for a successful and careless start in Germany and at THE FIZZ. You are now ready to book, for example an apartment in our newest house in Hamburg!

In the following weeks, we will take a closer look at some of the points mentioned to explain them further. Stay tuned!

Sources:

Studis Online

Study in Germany

Studying in Germany

BanksGermany

Tarifini

Investopedia