Financial Assistance

Local currency

The monetary unit in Germany is the euro. Exchange rates between the dollar and the euro change daily and are posted at community banking facilities and most retail outlets that service Americans. Just as the dollar is divided into 100 cents, the euro is divided into 100 euros. To determine how much an item actually costs, simply divide the purchase price by the current exchange rate. The cost of living in Germany is high.

Items purchased on the German economy are subject to a 19% or 7% value added tax. In general, if an item exceeds 25 euros after the tax, U.S. forces personnel may, if the merchant agrees, obtain tax relief. The goods or services purchased must be for personal use only.

Money matters

Moving is always more expensive than we anticipate. In addition to the new allowances that you may be receiving while here, you may also incur some new expenses. The better prepared you are prior to your move, the less of an impact the move will have on you and your finances.

Having to initially stock or re-stock a household with food and cleaning supplies can cost quite a bit. Because of the difference in electric current, purchasing 220-volt household items, or purchasing transformers to use with existing 110-volt items, can also be expensive. Although you won’t have to replace your lamps, you will have to purchase 220-volt light bulbs and plug adapters or a converter box.

Maintaining a vehicle can also be costly if you are not able to work on it yourself. Labor and parts on the German economy can be expensive. Start getting your finances in order prior to departing your current duty location. If you need assistance, contact the Personal Financial Management Program at your current Airman and Family Readiness Center.

Financial institutions

Community Bank and Service Federal Credit Union are full-service financial institutions in the Kaiserslautern Military Community. They offer checking and savings accounts, foreign currency exchanges, personal loans, certificates of deposit, bill-paying services and travelers' checks in dollars and most European currency denominations.

The Service Federal Credit Union offers the convenience of a Visa card and a Call 24 line that allows you toll-free access to your account 24 hours a day, stateside or overseas. Limited transactions can be handled at area Army and Air Force Exchange Service stores.

These financial institutions have 24-hour ATMs that operate continually and afford customers ready access to their accounts. All ATMs allow customers to make withdrawals in dollars or euros. Customers who make euro withdrawals buy them at the day's going rate. ATMs also accept government-issued credit cards for cash advances for travelers.

While visiting on temporary duty in the United States, credit union members have toll-free access to their accounts using the credit union’s Call24 line.

Advance pay is available to members who are making a permanent change of station. Advance pay is meant to help with expenses associated with moving. Members can receive an advance of up to three months of their basic pay minus mandatory deductions. A1C's and below must have their commander's approval for advance pay.

Located in Building 2120, the Military and Family Readiness Center offers personal financial management counseling. The staff can help individuals identify and find solutions for numerous budget-related issues and answer many questions. The M&FRC is the point of contact for the Military Thrift Savings Plan and the Blended Retirement System. Counselors can help you map out a financial strategy while you adjust to the higher cost of living in Germany.

Personal Financial Readiness Program

The Personal Financial Readiness Program helps service members and their families strengthen, understand and evaluate their personal financial needs, and assists with their long-term financial goals through education and information. One-on-one appointments are conducted to assist clients in taking action to alleviate current problems and prevent their reoccurrence. Appointments can also establish and accomplish short-term, intermediate and long-term goals to secure successful financial development. The PFR provides these services to educate consumers.

Assistance from the Air Force Aid Society is also provided at the M&FRC. The AFAS can assist service members with unexpected emergency financial needs. The AFAS also provides community programs that help support and strengthen the family to qualifying members and their families.

Service members making a permanent change of station to a location outside the Continental United States may receive a Temporary Lodging Allowance to help defray the added living expenses incurred while occupying temporary lodging.

Newcomers are required to visit the Housing Office phone number 011-49-6315-36-6671 or DSN: 489-6671 to receive a TLA briefing within two days of their arrival to Ramstein Air Base to determine their eligibility for the TLA. 

TLA is authorized only until government or economy quarters are available, whichever comes first. 

If you refuse to accept available quarters, your TLA entitlement is terminated the date loaner furniture could be delivered to those quarters. If your TLA is terminated prior to your move into government or economy quarters, you will begin receiving a Base Allowance for Housing, but keep in mind that this may not completely cover your lodging expenses.

Contact the Finance Office DSN: 483-6062 or Commercial: 011-49-631-411-6062 for further questions.