On-line banking - setting up Quicken in German

52 posts in this topic

Posted

I finally figured out that US Quicken would never work with the banks here in Germany, so I went out and bought the German version from LexWare.

 

I have one account at HypoVereinsbank (HBCI) and one at Deutschebank (PIN/TAN) and I'll spend some time this week getting them set up for on-line access.

 

If anyone's had experience doing this and wants to help out a newbie expat whose Deutsch ends at "Wo ist die Goethe Strasse bitte", I'd appreciate it. Otherwise, I'll struggle through it and post the process here.

 

Tschus! Jim

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Posted

I have used online banking with Dresdner, Hypo Vereins Bank, and Post Bank, and it never ocurred to me to buy software to make it happen. Everything just works perfectly on the website.

 

Maybe you want to load your statement into Quicken to keep your accounts but you certainly don't need extra software to perfrom überweisungen usw.

 

As a matter of interest Postbank has the best oneline banking. You can do international transfers for about Euro 1.50. I know of no other German bank that allows you to do online international transfers.

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Posted

 

I know of no other German bank that allows you to do online international transfers

sskm do, but is costs about 5 to 7 euros per shot in the eurozone

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Posted

You can make online international transfers on Hypos website too, provided you have all the correct IBAN codes etc. The only thing is you have only the SHARE option when it comes to assigning costs. This means the two institutions share the cost, yes really! Thing with this is that I find my UK bank charges far less and therefore I still fill out the forms and drop them in the box at my branch because the forms still provide for me to instruct that all charges are born by the receiving bank (BEN).

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Posted

 

sskm do, but is costs about 5 to 7 euros per shot in the eurozone

Since about a year ago (can't remember when), the cost within the Eurozone is now by law 50c.

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Posted

50c?

 

You sure about that? If so, Banks europewide are ripping us off then? And you say it's illegal?

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Posted

As a point of interest, does anybody know where I can find a branch's IBAN number (in this case Hypo) - when I asked in the branch he said it would be sent over to me - and since I've not had a statement yet, I have no IBAN number...

 

Alternatively does anybody know the IBAN for the Hypo on the corner of Schelling and Turkenstraße???

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Posted

Jimbo - you do realise that the hypo don't send you statements ...! There's a magic printing machine in the foyer of most branches - feed it your card and it'll spit out the latest statement.

 

If you wait for the bank to send you your statement they'll charge you for it! If you pick it up from the machne it's free of charge. The IBAN no is printed on the bottom of the statement.

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Posted

You are a total star! - thanks so much! I just opened the account and forgot about it. I might have to walk into the bank and check this 'statement machine' out...

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Posted

There is a thread somewhere else on the board about this. Yes I am pretty sure, unless we are somehow talking about something else here. I have done at least 10 transfers in the last year and they all cost 50c. Two weeks ago was the last one in fact. When I arrived first (about 18mths ago) and transferred the whole contents of my account it costed about €60 in total. Was pissed off then when it changed a couple of months later.

 

Wait, maybe this doesn't apply to Britain? Dunno, just a guess?

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Posted

BIC Online just in case the other thread doesn't contain this info.

Katrina

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Posted

 

the cost within the Eurozone is now by law 50c.

is there any reference/source for that?

 

in my case it seems to drift between 5 and 7 yoyos... me thinks sskm are ripping me off...

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Posted

With Deutsche Bank it is a flat 5 EURO fee upto a certain amount (I have no idea what this amount is) then after that its a percentage fee.

 

I want to transfer 35,000 EURO back to England, and they want to charge me around 2000 EURO for doing this. Think I will stuff it in my pockets or something, and take it over with me next time I fly back !

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Posted

I will check up on the source. Just a quick post to say that sskm are my bank too.

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Posted

If you want to use HBCI with Quicken then you need an HBCI capable cashcard card from your bank, and an HBCI-compliant a card reader for your PC - most banks sell USB versions of these to customers for around €50. Note that the standard cashcard most banks supply is not HBCI-capable - you need to order one especially. If you have multiple accounts with the same bank you normally only need one card - an HBCI card can usually support up to 5 different accounts.

 

If you want/need to go down the PIN/TAN route then Quicken only supports this via T-Online, so you need a T-Online dial-in account too, which will be used separate from your normal Internet provider. This need not be too much hassle, you can use the T-online call-by-call option for Quicken only use, which has no fixed charges, and only bills you for on-line time consumed. Most online banking sessions only last 2-3 minutes, so cost a few cents per time...

 

HBCI is by far the more flexible option as you don't need any PIN, and there's no need to have a long list of TANs to hand... In both cases, once you have the technology ready then Quicken leads you through the setup once you enable the relevant Quicken internal bank acocunt to be on-line-capable...

 

YorkshireLad6

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Posted

Commission Statement

Brussels, 13th December 2001

Commission welcomes swift adoption of Regulation preventing excessive charges for cross-border payments

The European Commission has welcomed the adoption by the European Parliament and Council of Ministers of a Regulation requiring that bank charges for cross border payments in euros must be the same as for similar transactions within a single Member State. The Regulation will also cover payments in non-euro currencies if the Member States where those currencies are used notify the Commission that they want the rules to apply. The adoption follows the European Parliament's vote at its 13th December plenary session in Strasbourg to endorse, without amendments, the Council's Common Position on the proposal.

 

Commission President Romano Prodi said: "From 1 January 2002, people will have euro notes and coins in their pockets. This Regulation will ensure consumers and small businesses can take full advantage of the single currency in another Member State. I would like to thank the Parliament and the Council for their excellent cooperation in adopting this Regulation within five months of the Commission proposing it. This is an excellent example of the Commission, the Parliament and the Council working together quickly and effectively in the interests of all European citizens."

 

Internal Market Commissioner Frits Bolkestein added: "This Regulation ensures that people will benefit fully from the euro when they make payments and withdraw money outside their own country. The Regulation allows reasonable periods for the rules to be applied, but I strongly urge banks to make cross border payments as cheap as national ones as soon as possible, even before the set deadlines."

 

The Commission presented its proposal in July 2001 (see IP/01/1084 and MEMO/01/279). On 7 December, the Council reached agreement on the Regulation with certain amendments, which were endorsed by the Commission in the interests of achieving swift agreement (see IP/01/1668). Adoption by the Parliament followed on 13 December.

Under the Regulation:

charges for withdrawals from cash machines and the use of bank cards (up to €12,500) must be the same, when denominated in euros, for both national and cross-border transactions, from 1 July 2002

the charges for credit transfers (up to €12,500) between bank accounts must be the same, when denominated in euros, for both national and cross-border transactions, from 1 July 2003

customers must be properly informed in advance of charges for making national and cross-border payments and of any changes to those prices

use of the ISO standard codes, namely IBAN (International Bank Account Number) and BIC (Bank Identifier Code), becomes mandatory, in order to allow banks to process credit transfers in a fully automated way

banks will no longer need to declare to the authorities any payment below €12,500.

payments in non-euro currencies will also be subject to the Regulation if the Member States where those currencies are used notify the Commission that they want the rules to apply.

The Regulation's rules will be extended to cash machine withdrawals, use of bank cards and credit transfers up to €50,000 from 1 January 2006.

A Regulation, unlike a Directive, is directly applicable in the Member States without national implementing measures.

 

A survey published by the Commission in September 2001 indicated that the average cost of cross-border credit charges remained virtually the same in 2001 as in 1993 (€24 for transfers of €100 see IP/01/1293 and MEMO/01/294).

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Posted

@ Jimbo

 

As I understand it the IBAN is an International Bank Account Number and is account specific and not bank specific. So it will be unique for your bank account with probably a few digits on it that identify the branch, etc. So if someone else banking at the same branch gives you the number its not much help.

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Posted

Yeah, it's 22 characters. Country code, checksum digit, branch code, account number and so forth. The format is set but as you said it's specific to each customer.

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Posted

The IBAN completely describes your bank account. My IBAN (if anybody wants to do a test transfer to me) is:

 

DE93 70080000 0517505700

 

700 800 00 is my BLZ (Bank Leit Zahl) which points to Dresdner bank, and might even point to the specific branch. 0517505700 is my account number.

 

What DE93 is I'm not sure. DE is obviously Germany, and I opened the account in 1993, but I've a feeling thats a cooincidence

 

Its annoying that most companies only quote their account number and BLZ (or equivalent sort code in UK/Ireland) on their headed paper, rarely their SWIFT code, and never their IBAN.

 

SWIFT BTW is Society for Wordwide International Funds Transfer, and is the standard way of transferring money. If you quote the local BLZ/Sort code on an international transfer, the banks computer will lookup the SWIFT code based on the BLZ/sort code, so almost all international transfers are SWIFT transfers.

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