What is an EC card?

An EC card (EC-Karte) is the colloquial German term for the national debit card system, now officially called girocard, used for direct bank account payments, but the acronym "EC" originally meant Eurocheque, evolving from paper cheques to plastic cards for ATM cash withdrawals and cashless payments using a PIN. While the term is technically obsolete since the 2007 rebranding to girocard, Germans still use "EC card" to refer to these debit cards, often with added international functions like Maestro or V PAY.

Is an EC card the same as a debit card?

The modern EC card (also known as the Girocard) still works in much the same way, though it has morphed into a debit card that can also be used for cashless payments worldwide. Next to cash, the EC card is the most popular payment method in Germany.

What is the meaning of EC card?

Originally, 'EC' stood for “Eurocheque”, later for 'Electronic Cash'. Today, it has become the Girocard, the debit card system commonly used by banks in Germany. Technically, the Girocard is a debit card, just like Visa Debit or Mastercard Debit, for example.

Can I withdraw cash with my EC card?

An EC card is a Euro-Cheque card with a 4-digit personal PIN number which is issued by your bank and can be used to withdraw cash from most ATM cash machines in Europe. ATM cash withdrawals from your bank (or associated banks or branches) are free.

How long is an EC card valid?

Once the card has expired, or at the end of 2027, customers will no longer be able to pay and withdraw money worldwide. If they want to make cashless payments overseas following this, they will need a new card issued by the bank after July 1, 2023 with an alternative payment system.

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How to use an EC card?

If a young person is unable to download the eC-Card app, they should still be able to access eC-Card services by logging in via the website ec-card.org.uk Once registered, users can then access details of all participating venues and complete the collection of condoms by attending the chosen venue and scanning a unique ...

Can I lose my niederlassungserlaubnis?

There are certain specific cases where a person can lose their Niederlassungserlaubnis. Some examples are if a person provided false information in getting their residence permit or Niederlassungserlaubnis, if a person has their refugee status revoked, or if a person stays more than 6 months outside Germany.

Are there fees for using an EC Karte?

Further, transaction fees are charged for every EC card payment. Card providers charge fees to use their cards; the amount—which depends on the card type, among other things—is typically 1-3% of the transaction amount.

What are the disadvantages of a forex card?

Forex Card - Disadvantages

• Reloading and Unloading Fees. Charges apply to reload funds and withdraw the remaining balance.
• Lack of Rewards​ Unlike some credit cards, Forex cards typically do not offer cashback or rewards.

Is it better to get euros at the airport or ATM?

It's usually better to get your euros at your bank, provided it offers foreign currency for low or no fees. However, you can also withdraw EUR at overseas ATMs, as long as your card doesn't have foreign transaction fees.

What does EC mean in banking?

An Encumbrance Certificate (EC) is very important in property transactions. It acts as concrete proof of property ownership, validating both financial and legal aspects. For those seeking a home loan, buying or selling a property, or applying for a loan against one, the EC is a must-have document.

What is an EC payment?

An electronic card payment was generally made by the card owner entering their PIN (Personal Identification Number) at a so-called EFT-POS-terminal (Electronic-Funds-Transfer-Terminal). The name "EC" originally comes from the unified European checking system Eurocheque.

What is the meaning of EC in passport?

Emergency Certificate is issued after the cancellation of existing passport of the holder.

Is it better to have cash or card in Germany?

Cash for smaller amounts

A closer look at payment amounts shows that cash is preferred in Germany, especially for small sums.

Can I use an EC karte internationally?

In non-European countries: Card payments with the Girocard / EC card are not possible in all countries. This also depends on the type of giro card (Maestro, Vpay). You can find out more about the regulations in individual countries on the relevant country pages on this website or contact the Outgoing Center directly.

How does electronic cash work?

Electronic money, or eMoney, is digitally stored currency backed by fiat currencies like the U.S. dollar and managed within regulated banking systems. It enables global transactions through direct deposits, electronic fund transfers, and digital payment platforms such as PayPal and Square.

Which card is better to use abroad?

For the best travel card abroad, look for debit or credit cards with 0% foreign transaction fees, like Halifax Clarity or Barclaycard Rewards (Credit), or fee-free debit cards like Starling or Chase for ATM withdrawals, and consider prepaid cards like Post Office Travel Money Card for security and currency loading, but always check for ATM fees, cash withdrawal limits, and local bank charges. 

What is the 90% rule in forex?

The 90% rule in Forex is a cautionary saying that roughly 90% of new traders lose 90% of their capital within the first 90 days, highlighting the high failure rate in retail trading due to lack of discipline, education, and risk management, rather than a fixed statistical law. It emphasizes that Forex is a difficult skill requiring a business-like approach with proper strategy, patience, and emotional control to succeed. 

Why are 23 rupees deducted from a bank account?

23+ service tax for cash withdrawal & Rs. 13+ service tax /- for other transactions above the free limits). The facility of free transactions at other bank ATMs is available only to the Savings Bank Account holders.

What happens if I stay out of Germany for more than 6 months?

A residence permit becomes invalid 6 months after leaving Germany. A longer period can be allowed on application, if the stay abroad serves the interests of the Federal Republic of Germany.

Do I lose my German citizenship if I become an UK citizen?

However, if you were naturalised as a British national before 28 August 2007, you would normally have lost your German citizenship when you acquired British citizenship. The same applies to the period from 1 January 2021 to 26 June 2024.

How long can you leave the country as a permanent resident?

Understanding Your Travel Facility

When you're granted a permanent residency visa, it comes with a five-year travel facility. This travel facility allows you to leave and re-enter Australia as many times as you like during that five-year period.