As an ex-pat one of the most surprising things, you realise when you move to Germany is how much people depend on cash for all payment. 96% of all transaction below 5 euros are paid in Cash, also in many stores, they do not accept a card payment if the total is less than 10 euros.
Having to pay by cash everywhere means that you are left with loose change that is accumulated everywhere in your house. In only 5 months I was able to fill up 3 big glass jars with loose change.
Although it might be tempting to continue collecting the coins so that someday you can swim in the ocean of coins like Uncle Scrooge. In reality, you will never be able to pay with a stack of coins without getting some stares at the supermarket.
If in case you decide to cash in those coins here is how you can do it
- Einzahlautomat – coin deposit machine that is available in most banks. It looks a little bigger than an ATM machine and has a metal door that can automatically deposit the coins to your account.
- Bundesbank – If your city has a Bundesbank they will exchange your coins for free.
- Bank – You can also exchange your coins in most banks for free if you have an account with the bank. It varies from bank to bank but some of the banks might also charge you a fee for the same. They usually collect the coins in a bag and deposit them to your account in a few days.