Information Bank Cards in Germany

This page provides the frequently asked questions about the different bank cards in Germany.

What is an ATM card?

Almost every bank customer they have in their wallet and used it as a matter of course, to withdraw money to print account statements or to make cashless payments: the ec card. It belongs to the standard program and is usually issued by banks directly with the account opening. Today it is but as Girocard called. But which systems are behind the card and the meaning of the abbreviation, many consumers is simply unknown. Therefore we dare to look behind the scenes of the ATM card.

EC = electronic cash = old system

Thus, the cash withdrawals or purchases are attributed to the correct account, we need a unified system. In the Federal Republic  of Germany  “electronic cash”, ec was briefly introduced for which the German banking industry was responsible. The principle: electronic cash must be confirmed each transaction with a personal identification number (PIN). Where the card paid or withdrawals can be made, ec is recognizable by the logo. Initially, the cards were only provided with a magnetic strip. Were on him and all relevant data is stored. You will read about the terminals and vending machines.For safety reasons, because the data on the magnetic stripe can be copied very easily, are ec cards since 2000 additionally provided with a chip.

Maestro and V Pay cards are the new EC-karte

The “ec-/Maestro-Karten” are history. The new system, called Maestro and V Pay . Basic things have not changed for consumers. As before, the cards are likely to pay and withdraw money.

Debit card system

At first glance, it is at a ATM card (V Pay, Maestro) is a plastic card with a slightly raised embossed lettering, an EMV chip and a rear-mounted magnetic strip. The technical equipment that allows to withdraw cash from ATMs and pay cash. Thus it belongs to the family of debit cards. “Debit” from the Latin “debere” for debt or the English “debit” account for stress in the context means nothing more than that the card transactions are charged in a short time on the current account. Say: The account is (immediately) charged with the payments.

What is a GeldKarte (debit card)?

Sometimes just buy five rolls or pull a pack of cigarettes from vending machines without having to have the right change in your wallet have: This is the idea behind the cash card. It is virtually an electronic purse, small amounts can be paid from the. The advantage over the otherwise common payment options like ec-/Maestro, checking and credit card lies in the fact that neither a signature nor a personal identification number are required to complete the process. The “administrative burden” for the transactions is minimized and it is clearly ahead at the checkout quickly.

Saw the start of 1996

The cash card was introduced in 1996. It will be offered as a standalone product – be upgraded or supplemented or as an additional feature, the ec-cards – but rather rare. To recognize the cards on her round, held in blue and red logo with the words “cash card”. The most important part of the card is the chip. It serves as a memory in which the current balance is stated.

Charging money card

On average, the German book about 30 euros to their cash card (as of 2010). The charge simply realized at an ATM.Today, most machines are equipped with this technology. You can charge at any ATM with the chip then any money cards. This is ideal for all direct banking customers.

If the GeldKarte (debit card) at a checking account is linked, what with cash card function is the rule for ec-card, the amount is deducted directly from the deposit account. If, however, an account unbound map, it requires a loading terminal, which has two card slots. Then the credit is booked on a ec-/Maestro card on the cash card. If a smart card reader is present, the card can be filled since 2007, via PC and online banking again. The maximum amount is 200 euros in all variants.

Pay by card

To pay later with the money card, it is inserted into the corresponding terminal, confirmed just like a credit or other bank card, and the amount of a button. At the same time the sum is deducted from the balance. In the background while working a so-called shadow account, which is maintained by the dealer central registry for each GeldKarte (debit card). This account not only the money card number is stored, but every payment and charging. Prerequisite is that the cash card can be used at all: The dealer has completed for a cash card acceptance agreement with his bank.

Advantages and disadvantages of the cash card

The ease of use certainly speaks for the money card. In addition, it is used for age verification – for example on cigarette vending machines – and can also be used for electronic tickets. On the other hand, cash card and cash card function will only be accepted in Germany, can not transfer the credit and the credit risk of a total loss, should the card be lost or stolen. Since no user identification is necessary, anyone can pay with a GeldKarte (debit card), whether it belongs to him or not.