How to open a German bank account
A simple step-by-step guide on how to open a bank account in Germany. Open an online Germany bank account and documents required to open a German Bank account
Read MoreComdirect
Comdirect Bank is the Internet subsidiary of Commerzbank, and is one best bank account in Germany and also a market leaders among online brokers active in Germany. Comdirect Bank is an internet bank that does not have any branches. It is therefore the right bank for the customers who preferred to communicate over the Internet. Due to their low cost, comdirect bank can offer its customers exceptional services on very favorable terms. The Bank currently has almost 1 million online checking account customers.
Conditions of Comdirect Girokonto
| Account management: | |
| Cost: | 0 € |
| Conditions: | – |
| Current joining bonus offer: | €50 |
| Cards: | |
| EC-/Girocard: | yes, free |
| Credit Card: | VISA card free / Lifetime free |
| Interest: | |
| Credit interest daily allowance: | 0.25% pa (up to 10,000 €) |
| Borrowing rate credit facility: | 9.40% pa |
| Banking: | |
| Website: | www.comdirect.de |
| Banking options: | Online / Telephone / mobile |
| Free Cash: | |
| Germany: | Cash Group (9000 Auto) |
| Abroad: | free worldwide using VISA |
| Instructions on How to Apply for Comdirect bank account |
Click here for a step by step instructions with Screenshots on how to fill the German application form and open a comdirect bank account in Germany.
Why open a Comdirect bank account
1. Joining bonus
Regularly comdirect has offers with joining bonus for new customers. It varies from €50 to even €150. Keep a lookout for such offers and open an account during the period to get more out of your bank account. Alternatively, if you do not like the account, there is an additional 50 euros at the closing the account!
2. Free VISA Card – Worldwide free withdrawal
A free VISA credit card is provided along with the Comdirect current account. You can use this for free cash withdrawal from any VISA ATM’s is free of cost, irrespective of the country of using. You can therefore use the VISA card as a prepaid credit card. If you are new in Germany, it is recommended that you do not request for a high credit limit as it will require a good credit rating, and you might be refused the credit card. You can always deposit into your account and use the card with an increased limit.
3. Free Securities Deposit Account
You can apply for a free securities deposit account if you are interested in buying shares or funds or other securities transaction. This is a free account with no maintenance charges, so you do not have any obligation to use it even if you open it. If you are interested in investing in the stock exchange through funds or directly through shares, or even just buying an index fund, this is a very good account.
Some advantages of the free deposit accounts are
- Free savings plan of funds (including Index funds) without commission or transaction fees
- Possibility to buy and sell shares in number of countries and exchanges, including US, UK and also developing countries
- Large selection of funds available for purchase
4. Wechselgeld-Sparen (Small Change savings)
Small change saving (literally translated) is a option which you can select when opening a saving account. The saving account is usually higher interest earning. How does this work? When you use your card, the payment is rounded off to the nearest euro and the extra change is directly deposited into your saving account with a higher interest earning. This enables mandatory savings without you even realizing it.
It works something like this. Say you make a transaction worth €8.50 with your Comdirect Visa card. Your credit card will be automatically charged €9.00. The 50 cents which was rounded off is deposited into your savings account. Whats more, at the end of the month Comdirect adds 10% additional to whatever you saved during that month as a bonus to your savings account.
It is explained here in the below video (in German)
5. Free Cash Deposit – Coins and notes
Internet banks have the disadvantage that you cannot deposit cash into the account. But customers of Comdirect Bank can use any branch office of the Commerzbank to deposit cash free of charge to your current, savings or securities account. This can be done anytime during the is even possible outside the opening hours via deposit machines, just like this article shows.
Another important feature is that you can not only deposit bank notes, you can also deposit coins. After few months of use your wallet inevitably becomes bulky with large number of coins. With this bank, you can then collect the coins and deposit them periodically to the bank account.
6. Open account completely online
With the new VideoIdent, you do not have to go to the postoffice to verify your identity. You can directly verify your identity through the internet using Video conference. This is explained in detail in the step by step instructions apply for comdirect bank account.
7. Linked Money Market account
The money market account comdirect bank currently bear an interest at the rate of 0.25 percent and for the overdraft amount drawn, you are granted a credit facility to pay 9.65 percent interest. Interested customers who intend to switch account to a comdirect bank, the company offers an account switching service . Almost unique is the ability for customers to make their account management via the Internet-enabled mobile phone or using a PDA. The customer of comdirect bank remains on the go and from anywhere is connected with the bank and able to manage, view the current balance or make money transfers.
The advantages of Comdirect bank current account at a glance
- Free account management
- Free cash worldwide (with Visa card abroad, in Germany with the debit card at over 7,000 ATMs)
- Includes free savings account
- On request overdraft
- Upon request, free complimentary securities account
- Free Maestro debit card and free Visa card
- Free Cash deposit (Coins and bank notes)
- Apply now online!