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 MoreDKB Bank
Click here – Step by step English instruction on how to open a DKB bank account
The advantages at a glance:
- Free account with no monthly minimum input
- Free VISA credit card
- 0.70% Interest paid on credit card balance
- V PAY card from VISA and Visa charge card
- Free worldwide cash withdrawals
- Free securities account
- Credit facility with only 7.90 per cent interest on debt
- Monthly credit card and bank statements online
About DKB – Deutsche Kredit Bank
DKB stands for Deutsche Kredit Bank- a subsidiary of the Bavarian bank headquartered in the German capital Berlin. DKB was founded in 1990 and emerged from the State Bank of the GDR. Today this prestigious bank employs more than 1,000 people who serve more than 3 million customers, and thereby endeavor to provide the perfect service and full customer satisfaction. The focus of the performance of the DKB is currently the DKB Cash checking account that is managed for private and freelance clients. For further product portfolio of the Bank is also financing of real estate and the granting of personal loans.
DKB Cash checking account
Terms at glance
Account management: | |
| Cost: | 0 € per month |
| Conditions: | – |
| Cards: | |
| EC-/Maestro: | V PAY card of VISA |
| Credit Card: | VISA free |
| Interest: | |
| Credit interest checking account: | 0.20% pa |
| Credit interest credit card: | 0.70% pa |
| Overdraft interest: | 7.90% pa |
| Banking: | |
| Website: | www.dkb.de |
| Banking options: | Online / Telephone |
| Free Cash: | |
| Germany: | free in all ATM machines |
| Abroad: | free worldwide |
To apply |
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Advantages and features of DKB bank account
Free VISA credit card with free worldwide withdrawals
A free VISA credit card is provided along with the DKB Cash account. Most importantly, any cash withdrawal any VISA ATM’s is free, irrespective of the country or the currency. Therefore, DKB provides a free VISA credit card with free cash withdrawals worldwide. Even if any ATM charges such transaction fees, DKB will reverse these charges and issue an refund of these costs to your account. The currency exchange rate when withdrawing from a non-Euro currency is also very fair, so you do not have to be worried about exchange rate eating up on your withdrawals.
In case the card is used for purchases, the foreign currency transaction provided by DKB is also the best in the class and only 1.75% currency conversion charges are incurred if a merchant transaction is made in a currency other than Euros.
Earn interest on VISA account
The Visa Credit card account is a credit account where an interest is provided on your credit card balance. The interest provided on the account is currently at 0.70% interest rate, which is above the national average interest rate provided by banks in Germany. DKB provides you interest on the balance maintained on your credit card account. Therefore, this account can be used as a overnight deposit account.
Free DKB Broker – Securities Brokerage account
If you already invest or are considering investing, DKB Broker is one of the good brokers especially if you invest in Funds. You can create a savings plan with Funds and invest in them without transaction charges free of cost from a large selection of funds (ETF). There is also no commission charged by DKB, which can be sometimes as high as 5%. Get into the practice of regular investment using the savings plan without any costs.
Even normal trading are reasonably price since that there is a flat fee per transaction instead of a percentage of the trasaction . It costs a flatfee of €10, for order upto €10,000 and €20 for order above €10000. So you know what it will cost for transaction using the brokerage.
DKB Cash – International (For non-Residents)
With the slogan “The bank that speaks their language” DKB bank also provides service outside Germany and for non-residents. Although they have become stricter in recent months about accepting clients, it is still possible to have a DKB bank account from outside Germany. So you can maintain a Euro currency bank account with a worldwide free cash withdrawal and a Euro credit card. Advantages and having a DKB account when living abroad can be found here. Therefore, since it is also available for non-residents you can still maintain your account if you move outside Germany.
DKB winner of various awards
The DKB Cash checking account is the best leading online checking account, which is currently available on the German market. A free checking account with no ifs and no buts. No monthly minimum deposits or hidden costs, like some other providers, characterize the account. The large current account test from n-tv and the FMH financial advice has named the checking account of the Winners. Also, the Stiftung Warentest once again award DKB the winner in the cost comparison when it comes to withdrawing money with the credit card in Germany and abroad.
DKB – Online Banking
For all modern customers who want to do their banking via the Internet and can largely do without any instructions, the Cash Account of the DKB is thoroughly recommended. The DKB Cash Account leaves nothing to be desired and is the most innovative and attractive product and at the same time a German bank for the German market.
The advantages at a glance:
- 10,000 Miles and More points
- Free account with no monthly minimum input
- Free VISA credit card
- 0.70% Interest paid on credit card balance
- V PAY card from VISA and Visa charge card
- Free cash withdrawals with Visa Card (available worldwide)
- Credit facility with only 7.90 per cent interest on debt
- Monthly credit card and bank statements online
- Free Brokerage with Free savings plan
Apply NOW for a DKB bank account
Step by step instruction on how to open a DKB bank account in Germany for German residents
English translation of DKB account opening form
Why is it perfect bank account for foreigners and expats living in Germany?
- Free Credit Card : You do not have to get separate credit card.
- Free Cash withdawals worldwide: It is a perfect account for travels and expats. Imagine going on a vacation and not having to worry about taking different currencies. Just look for an ATM when you land from the plane and withdraw cash in the foreign currency. For expats and foreigners, it is also a perfect account, you can use your German bank account even in your home country on holidays without having to worry about transferring funds to your home bank account.
- Ability to still maintain an German Bank account once you move back home : Since DKB also allows non-residents to maintain an account, you can still used it when you move back home. Just inform the bank of the change of address and residence, and fill the form informing them of the change in your tax residency. So the interest earned will not be taxed in Germany.
Disadvantage
Although this bank account is one of the best banks in Germany, for an objective review of DKB bank account it is also important to point out some problems and issues you may have with the account.
- Higher entry requirement: DKB is infamous for having high requirement standards for opening an account. Especially if you are a foreigner living in Germany, they will require some convincing before you are able to get an account. Since, they provide a credit card, they will check your credit score, and sometime also and your source of income. So, if you are new to Germany, it is recommended that you do not apply for your first account there is a high chance to be rejected due to lack of credit score. If you were rejected the first time, you can still apply or provide more documents. Be polite and provide additional documents to prove your creditworthiness. Documents which can help include employment contract stating you have an unlimited contract and having a residence permit with a longer time duration also helps. If you are looking for an alternative option with a easier requirement, check Number26 account or comdirect.
- International Transaction costs : Cash withdrawal is free, but if you use the card to make purchase in another currency you will charged a transaction charge. DKB charges 1.75% transaction costs if you use it to make an online purchase or shop purchase in a currency other than Euro. Although this is a standard cost in most credit cards, there are some credit cards which do not charge these costs. So if you are making lot of online purchase or use the card in a shop on your travel, you will have to keep these charges in mind. You partially overcome this problem by withdrawing cash in the ATM abroad and use cash for making purchases.
- Cash Deposit difficult: Since DKB is an online bank, they have very few branches, mainly in the former East Germany. In fact, they do not even advertise the location of those branches on their website. So if deal with cash and are looking to depositing cash, then you are out of luck unless you live near an DKB bank ATM.
To Compare DKB Bank account with other banks here
Contact Bank
DKB (German Bank) Taubenstr. 7-9 10117 Berlin Germany 030 120 300 00 Service number: 030-12030000