How To Make & Manage Your Money While Studying in Germany

Although the idea of experiencing a different culture and learning a new language, experience the rich poetry and learning in one of the best tourist destinations for free might be exciting. It could also get quite stressful as the need for income to take care of basic needs is also necessary.

Here are some quick tips on making money, banking and receiving money from home while studying in Germany.

Making Money

Students in Germany are allowed to work for not more than 20 hours per week. Exceptions may be for students working mainly in the evenings or nights and over the weekends. Other exceptions may be during breaks where there is no time restriction for student working hours.

NB: if any of the jobs pay above £450, the student will have to pay social security.

Types of jobs include:

  1. Mini/Small Jobs

Pay below £450 per month.

Here is a list of mini jobs for international students in Germany.


  1. Study Internships

For mandatory internships as per university requirements, students may be exempted from the £450 salary ceiling. However, if the internship is non-mandatory, the student is subjected to the state health pay.


  1. Work During Semester

If the job is limited to the summer break, the number of hours does not matter and no contributions shall be made towards state health insurance. This is only valid for short term jobs, not exceeding 60 working days per year with pay less than £450 per month.


Managing Your Money

  1. Banking
  • As many payments (rent, health insurance, cell phone bills, etc.) in Germany don’t use cash, it is wise to open a bank account as soon as one settles in Germany.
  • When deciding on the bank, it is useful to know the running cost of the account. Some banks offer free checking accounts, while others may have bank charges.
  • It is also important to make sure that there is a branch or ATMs of your chosen bank in the area where you will be staying.


The Deutsche Bank is especially well represented internationally, hence most student usually opt for opening their bank accounts with the bank.



  1. Money Transfers

Transferring money to Germany could take weeks, particularly when the banks are non-affiliated. The most common platforms for transferring money are as follows:


  1. Society for Worldwide Interbank Financial Telecommunication (SWIFT): Swift is a network that enables worldwide financial institutions to send and receive information about financial transactions in a reliable and secure environment.
  2. MoneyGram is the largest provider of money transfers worldwide.
  3. Western Union provides secure online services such as person-to-person money transfers, money orders, business payments and other commercial services.
  4. PayPal is an ecommerce company facilitating payments between parties through online transfers. You have to open a PayPal account, which is connected to your bank account in order to use the services of PayPal.



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