Info on banks that offer this
31.Aug.2007 - 12:44 hrs
I just got a notice that my current Deutsche Bank youth/student free bank account is ending, boohoo -- a couple months before I turn 30, so maybe that is why (??) What other options exist for free banking? All I need is an EC card and some way to transfer in/out within Germany, it seems silly to pay for that (!) Also, I don't speak German so that makes it a bit difficult.
31.Aug.2007 - 12:46 hrs
No banking is really "free".
There are accounts that don't charge, if you put enough through them each month.
31.Aug.2007 - 12:46 hrs
I'm with the Post Bank. They offer FOC bank account when your income is over 1250 Euro/ Month otherwise 5,99 Euro / Month bank fees. Same with Commerzbank not sure though what the income limit is with them.
31.Aug.2007 - 13:51 hrs
You can try with DKB-Deutsche Kredit Bank. It is an online bank that gives you an EC card and a Visa card without any charge. I mean, you don't have to deposit certain amount to make it free of charge. If you use them carefully(use EC card in supermarkt and Visa card for drawing cash), they can fulfil your purpose and you don't have to pay any extra charge. For details, visit their website www.dkb.de
31.Aug.2007 - 14:28 hrs
Well, it just so happens that I have a little brochure from HypoVereinsBank with a comparison between the biggest banks in Germany. All say there is a fee for the bank account unless you are depositing your paycheck or some other monthly type deposit...all EXCEPT ING-DiBa
So, maybe check them out.
(Banks were Citibank, Commerzbank, Deutsch Bank, Dresdner Bank, HVB, ING-DiBa, Postban and Stadtsparkasse München)
31.Aug.2007 - 14:31 hrs
I am with ING DiBa and you get charged €12 a quarter, this is offset by any interest you earn on your account, the interest is 1.5%.
Unless they have very recently changed things.
31.Aug.2007 - 15:03 hrs
comdirect is free too.
1.Sep.2007 - 09:41 hrs
if you don't speak German, I'd recomend Deutsche Bank. It's not expensive or free, but they have online banking in English.
1.Sep.2007 - 10:08 hrs
I"m with the Postbank, which is (as said above) free as long as your paycheck goes in every month.
I also looked at Spardabank, which is free after the 50,- (I think) signup charge. But they didn't have a lot of ATMs that were convenient for me - it's easy to pay more bank fees at the ATM than you've saved on the account if you're not careful. Postbank is with the Cash Group, which includes DB, Dresdner, Hypovereinsbank, and others. Basically their ATMs are easy to find in cities, harder in the country.
2.Sep.2007 - 10:49 hrs
Thanks for all the info!
Lazybum: how do you get Deutsche Bank for free?
Also, are any Banks other than Deutsche Bank at all do-able in English or minimal German? That is what I am most worried about, since I will have to set things up all over again...
Small Town Boy
2.Sep.2007 - 11:19 hrs
I think he said it isn't free. However, it is free for students.
2.Sep.2007 - 15:40 hrs
...now I am wondering if Deutsche Bank is closing my account in error -- I am still a student, and I think it continues through age 30 (I am almost 30). If I could hold on to it for another year that may solve my problem.
The website says "Für Schüler, Auszubildende, Grundwehr- oder Zivildienstleistende bis einschließlich 30 Jahre! Für Studenten bieten wir das db StudentenVorteilsKonto an – auch hier gilt: bis einschließlich 30 Jahre!"
2.Sep.2007 - 16:34 hrs
If you sign up for Postbank through tchibo.de before October 2, you will supposedly get an account with no monthly fees (for 'life') and no monthly minimum incoming transfer requirements.
Small Town Boy
2.Sep.2007 - 20:15 hrs
Who says they are closing it? If you are still a student, walk into your branch with your student ID and, in your best English, explain the situation.
2.Nov.2007 - 07:31 hrs
Okay guys, so after being here for a few years, I am tired of paying for monthly fees at my bank. I am currently with Raiffeisen in Bayer, and with Volksbank in Hessen. I want to consolidate both accounts, but I am looking for a good Bank that offers more services, and has no mothly fees. What do you guys think about ING-DIBA? Or have you any other recommendations? Muchas Dank you.
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