savings bank
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savings bank
A public-law financial institution in Germany, Austria, and Switzerland that offers banking services for private customers and medium-sized businesses.
Ich habe mein Girokonto bei der örtlichen Sparkasse eröffnet.
I opened my checking account at the local savings bank.
'Sparkasse' (savings bank) is a compound word made up of 'sparen' (to save) and 'Kasse' (cash desk/register; originally a box for money). Literally, then, it is a place where you keep your saved money.
Früher legten die Leute ihr Geld direkt bei der Sparkasse an.
In the past, people invested their money directly at the savings bank.
Sparkassen are a special feature of the German-speaking world. They are public-law banks that often belong to a city or district and have a public mandate.
Viele Städte haben ihre eigene Sparkasse.
Many cities have their own savings bank.
Pay attention to the difference in prepositions: You go 'zur Sparkasse' (to the savings bank; direction, accusative), but you have an account or work 'bei der Sparkasse' (at the savings bank; location, dative).
Ich muss heute noch zur Sparkasse, um Geld abzuheben.
I still have to go to the savings bank today to withdraw money.
Typical actions connected with the Sparkasse are: 'ein Konto eröffnen' (to open an account), 'Geld abheben' (to withdraw money), or 'einen Kredit beantragen' (to apply for a loan).
Für unser Haus haben wir bei der Sparkasse einen Kredit beantragt.
For our house, we applied for a loan at the savings bank.
bank / bench
'die Bank' and 'die Sparkasse' both refer to an institution where you can, for example, have an account, transfer money, or get a loan. 'die Bank' is the general term for this kind of financial company. 'die Sparkasse' is a specific type of financial institution, especially in German-speaking countries, often with a regional connection. So you can say that a Sparkasse is a type of bank. The words can be confusing because in everyday life you do similar things at both. When speaking generally, 'Bank' fits. When you mean this specific institution, you say 'Sparkasse'.
Herr Wagner hebt heute Abend bei der Sparkasse Geld ab.
Mr. Wagner is withdrawing money from the savings bank this evening.
Ich gehe nach der Arbeit zur Bank, um ein neues Konto zu eröffnen.
I'm going to the bank after work to open a new account.