Banking in Germany
Banking in Germany is a highly leveraged industry, as its average leverage ratio (assets divided by net worth) as of 11 October 2008 is 52 to 1 (while, in comparison, that of France is 28 to 1 and that of the United Kingdom is 24 to 1); its short-term liabilities are equal to 60% of the German GDP or 167% of its national debt.[1] From the 15th century, banking families such as Fugger, Welser and Hochstetter were international mercantile bankers and venture capitalists.However, customers mostly have to use their bank's ATM with their debit card if they do not want to pay a fee.Online payments are done mostly either with direct debit (Lastschrift) or with a credit card.Most banks offer a free main account (Girokonto) as long as the customer deposits a minimum amount regularly (over €1000 in income each month).
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