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Important changes
- The German government plans to shift public sector software to open-source to reduce reliance on U.S. firms like Microsoft, citing data security and digital sovereignty concerns. [1]
- Germany’s economy fell by 0.3% in the second quarter of this year. This is more than initially expected. [2]
- Spotify is increasing its premium. However, you can keep your old plan at the same price. Check if you qualify for it in your Spotify app. [3]
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Be aware of the ATM scam
Recently, a reader shared a painful experience that serves as an important warning.
While walking on the street, they were approached by a stressed British man who claimed he could not withdraw money from local ATMs with his MasterCard. He showed proof of his identity, a balance of over €4,000 in his UK-based Monzo Bank account, and even gave his phone number.
The man asked for urgent help. He offered to transfer money directly to the reader’s bank account if they could give him cash in return.
A transfer receipt was shown, listing the reader’s IBAN, the amount, date, and reference number. Everything looked real.
But here’s the trap:
- It was a weekend, so the transfer didn't arrive, and the scammer said that the reader would get it by Monday.
- The scammer showed the “transfer proof” on their mobile. However, later, the transfer gets reversed.
- After a few days, the scammer blocked all contact.
The reader lost their own money. Despite contacting both banks (their own and scammers) and the police, there was little that could be done to recover the funds.
What you should learn from this
- Never trust strangers who ask for financial help, even if they show documents or “proof” of a transfer.
- Bank transfers can be faked or canceled. A screenshot is not confirmation of real money received.
- Always wait until the funds are 100% visible in your account before giving anything in return.
This scam preys on kindness and the instinct to help. Please be cautious — and share this warning with others who may not know.
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Personal Finance
- Free trading accounts: Scalable Capital*, Finanzen.net Zero*, Smartbroker+*
- Free Checking account: C24* (German), N26*
- Fixed account for 12 months (Festgeld): Up to 2.53% interest. Check offers from different providers here*.
- Tagesgeld account for 3 months: Up to 2.8% interest. Check offers from different providers here*
- Tax Software: SteuerGo*, WisoSteuer* (German), Check24 (German)
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Launching a subscribers-only Facebook group 🎉
Thank you all for the votes. We have finally launched the subscribers-only Facebook group.
The goal of this group is to
- Support each other and share experiences and advice.
- We'll keep you informed about the latest news and changes in Germany.
- Organize online and offline events, webinars, and meetups.
- And more..
Let us build a strong community of expats together.
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15 million PayPal login credentials leaked online
A hacker is currently offering a data package containing over 15 million PayPal users' login credentials on the dark web. PayPal hasn't yet commented on the incident. So it's unclear if PayPal has really been hacked.
Precaution
Check sites like haveibeenpwned.com to see if any of your accounts have been compromised. If yes, change your password immediately.
Regardless, you should do the following to secure your accounts.
- Generate a random password using a password generator. You can use a password manager or passkeys.
- Enable two-factor authentication on all your accounts, including PayPal.
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A Request 🙏
Reviews mean everything for online platforms, and GermanPedia is no different.
You can help us compete in Google search by leaving reviews on Google. These really (yes, really) help and are a vital part of Google's discovery and recommendation algorithms.
So, if you find what we are doing helpful, please leave a simple star rating or a short review on Google. This will help more users discover GermanPedia.
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Latest News
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia [1]
- EU, UK, Australian foreign ministers condemn Israel’s new settlement plan [2]
- Germany needs more spies, soldiers, and nurses. With an ageing population, Germany is looking for people to fill the gap. [3]
- The UN declares famine in Gaza. As per The Integrated Food Security Phase Classification (IPC), more than half a million people are facing starvation, destitution, and death. Israel calls the report an "outright lie". [4]
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Community Shoutouts! 📣
- GermanPedia is now on Substack. We'll post our weekly newsletter on Substack, also. The reason is to reach more people. On Substack, you can find several great newsletters about Germany. GermanPedia is now one of them. If you are reading other newsletters on Substack, you can now also read GermanPedia.
- Follow us on LinkedIn, Facebook, X, Instagram, and Pinterest to get more insights about Germany daily.
Whether it's a must-visit place, a life hack, or an inspiring story, we’d love to hear from you.
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New and recently updated guides
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Your Feedback Matters 👍
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Tools
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Quick Links
Ask an expert
Important types of insurance you should have in Germany
Personal Finance
-
Free trading accounts
-
Tax Software
-
Free Checking account
NOTE: Investing involves the risk of loss
Fixed account for 12 months (Festgeld)
- Up to 2.7% interest.
- Check offers from different providers here*.
Tagesgeld account for 3 months
- Up to 2.8% interest.
- Check offers from different providers here*.
Personal loan
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Disclaimer
The information provided here is based on our own experience and in-depth research. The content might be inaccurate. It should not be considered financial, insurance, tax, legal, or any kind of advice.
We are not certified brokers or consultants. Always do your research and contact certified professionals before making any decision. GermanPedia disclaims any and all liability for damages or losses arising from the use of this document.
We finance our extensive work via affiliate links. Thus, some or all of the links in the post might be affiliate links.
We get money if you click on such a link or conclude a contract with the provider without costing you a cent extra.
Investment involves risk of losing money.
All links marked with the "*" are affiliate links.
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