Banking and insurance

Two things about money in German-speaking countries are worth knowing in advance. Payment is heavily built on the bank transfer and the direct debit rather than on cards, so almost every recurring bill leaves the account by itself once set up. And personal liability insurance — die Haftpflicht — is held by most households and is often required by a landlord or a club, which surprises people from countries where it barely exists. This page explains the vocabulary; it is not financial advice.