DKB Bank (Deutsche Kredit-Bank)

Is anybody with the DKB bank and can offer any tips? Is the experience generally good or bad?

Thanks in advance

I have my mortgage from them and haven't had any problems so far...

I just started with them. So far nothing different to any bank. You get an online account with a money account and a Visa card.

Main advantage is they are not meant to charge you money for withdrawing cash from the 'wrong' ATM card which can happen to you a lot when you are with Postbank for example. I havent actually put this into practise yet but thats what ive been told by people in work who suggested i get this account.

If I read correctly though that is only when drawing money out on the Visa card and not the EC card though... well they only said withdrawls with the visa card in the online info. Do you know which cash group/pool they are with as I couldn't find that out? I assume none of them if it is indeed free to withdraw money with EC card...

My mortgage is also with DKB and I'm quite happy with them - all the arrangements were done quickly and efficiently, and they even phone back when they say they will.

I am with them. The account is free. The use of the Visa card for withdrawls (any ATM) is free but withdrawing with an EC card costs 10€ (and yes they do charge it). The use of an EC card in shops is free. I am happy with them and when we needed service it was quick and efficient.

Deutsche Kreditbank AG is a Subsidiary of Bayerische Landesbank.
From a customer perspective I have only heard good things about them, and you can have a nice warm fuzzy feeling knowing that your cash is on deposit with an institute that is owned by a Landesbank.
I think they have trodden on a few peoples toes by aggressively pricing to get businsess. I know they undercut Bayerische Landesbank on mortgages even though I imagine they get their funding from the Bayernlb Treasury as well.

I've been with them for my main (only) bank account in Germany for three years, and can recommend them (and also have a number of colleagues at work who are happy with them). Only drawback that I can see is that they don't have that many branches (although they are nationwide) and that branch opening hours are laughable (literally not much more than a couple of hours a week in Rostock, may be different in bigger cities), but apart from paying in the odd refund cheque and a bit of account admin (which can generally be done by post/fax/phone/web, unless you need to present an Ausweis) then there's not really any need to go to the branch.

Money withdrawals on the EC card are only free on DKB ATMs, which seem to only be in their branches. Otherwise ATM withdrawals on the Visa card are free nation- and worldwide (even outside Euroland), and since any deposits in the Visa account attract a (for Germany) very good rate of interest (currently 3.8%) then I usually transfer as much as possible straight over to the Visa account and use that as a savings and instant cash account - if you need to transfer money back to the Giro account to cover bills, rent, etc. then you can now do so online since they upgraded their banking software last month. Using the Visa internationally in shops attracts an average commission, as does use of the EC as a Maestro internationally (get yourself a UK Nationwide current account and Visa to get those free from commission!).

I've no idea what their other charges are like since I've never paid any (or compared to other banks), but they're all listed on their website, in case you haven't yet found them.

Ok so my next question is if interest is charged on cash visa withdrawls from day one? I assume though if you transfer a sum over to the visa account then you avoid this.

no idea - so long as your visa credit account stays in the black (as mine does) then you don't get charged anything. I'd imagine that if it goes in the red it would be charged interest from day 1, certainly for cash withdrawals (is there any bank that doesn't do that). I guess the AGBs will tell you.

Yes that is what I was thinking so the solution as you say as to keep it in the black. Also since there is such a high interest rate this makes a lot more sense!

We are actually only going to use that account as a household account for bills etc so doubt we'll make any cash withdrawals anyway.

Yes assume cash withdrawals are charged from day 1 if in the red same as any other credit card :-)

Thanks for all the tips people I am going to go with them

I need a credit card and this offer looks interesting... What do you think, should I go with it?
Anyone knows if they (DKB employees) speak english?
Thanks!

Hi!
There is any DKB branch in Munich?
I want to open an acount with them but I'm not seeing any info regarding a Munich branch...
Any information highly appreciated.

They only have branches in former East Germany. List of their branches: http://www.dkb.de/dkb/niederlassung.html
You can however open an account by using Postident, i.e. go to http://www.dkb.de/privat/privat/dkb_cash.php, click on "Jetzt eröffnen", fill in the questions, print out the resulting .pdf Adobe file, sign it, take it to your post office together with your passport and the Meldebestätigung. The post office then fills in a form which you have to sign with your passport number, and sends all documents to DKB in Berlin. This does not cost you anything. After about 2 weeks you will have an account you can access via Internet banking.

Thanks PM.
I've went to the online form starting to fill it in until I've ended up at the next text:
'Das Konto wird für eigene Rechnung gemäß §8 Geldwäschegesetz eröffnet.' I have no idea what it means and don't know what to choose between yes and know.
Can you help me?

I'll try and get somebody from DKB on the phone tomorrow.

This just means that you want to open an account for yourself (that the account will be yours not only in name, i.e. that nobody else controls your actions in which way you use the account) and that you will not launder money generated by criminal activities with it. That's just a standard assurance every bank has to get from its customers. Just try saying "No" to that statement, you will see that the system refuses to go on to the next page.
If you haven't lived 5 years at your current address, the next page asks you about the address previous to your current one (put the house number in the extra field to the right of the field for the street name).
On the following page, click on "Fertigen Antrag anzeigen und drucken" (= show filled in .pdf appliction and print it) or "Antrag zum Download" (= download the .pdf file application), sign it on page 2, 3 and 4, take it to any post office together with your passport and a copy of the Meldebescheinigung which states your current address and which you got when you announced at the KVR (Kreisverwaltungsreferat) where you live (Anmeldung). You should also bring a copy of your Gehaltsnachweis (salary slip) and put it in the envelope to DKB, since this account is only available to employees (not to self-employed people). You don't even have to bring your own envelope, the post office uses their own for PostIdent. No real need to call DKB, it's really easy...

Just a hint, Google language tools is your friend:
http://www.google.com/language_tools?hl=en

I'm self-employed (Freiberufler) and could still open an account with the DKB... Though I still had to give them a copy of one of my payment slips.

Well, then you were lucky.
Officially, the Cash-Management account is open only to following job categories (as stated here http://www.dkb.de/privat/index.html).

Employees, Pensioners: http://www.dkb.de/privat/privat/dkb_cash.php

Self-employed, private account: http://www.dkb.de/privat/freie_berufe/dkb_cash.php
Self-employed, business account: http://www.dkb.de/privat/freie_berufe/dkb_business.html
whole of Germany: only medical doctors, dentists, pharmacists, and housing administrators
Eastern Germany: additionally notaries, lawyers, tax advisers, and bankruptcy administrators

@PM
Thanks for your detailed explanation.

@DD
What payment slip if your self-employed? Do you mean a copy of an invoice (or invoices for one month)?
I'm self-employed too...

I opened my DKB Cash account about two months ago.
Yeah, I sent them a copy of an invoice for one month. A few days later though, they sent me an e-mail saying a proof of income document was missing from my application and I replied that I'd sent them the only proof of payment I had. Their answer was: if they needed proof of payment they'd conctact me (?!). So after that I decided just to wait and see what happend.
A couple of days later I received my account number and so on...
Apart from that bit of initial confusion I'm happy with them so far.

I've been at the post office and sent the papers. Hope everything will be ok.
Many thanks for your help.

Just to update this topic, the DKB has now (as of January according to their hotline yesterday) completely pulled-out of the high-street banking business. Their branches (as listed on their website) are still there, but no longer open for consumer banking.

Their personal accounts (e.g. DKB-Cash) are therefore now internet-only accounts, so e.g. paying in cheques has to be done by post. Not that you need to do that very often in Germany anyway...

does anyone know if an arbeitslos person can open an account with them? i am on the sick leave at the moment, and will be fired on april 1st, i think i will still be getting money from my insurance for the next few months instead of arbeitslosgeld though... then, what statement would i need to send them? and, if there is no way i can open an account with them, does anyone know any bank (free would be nice, cheap is ok)? i am with citibank at the moment but my balance is going under €2500... many thanks in advance...

hi,

Just printed out all the necessary documents to open a DKB account.. i was searching for bank accounts which are best for students. I am a student too. While filling the form online, i made a clear mention from the pull down boxes that i am a student. In the final pdf, which we need to printout, sign and send it back to them its given,


i am currently pursuing my thesis and hence i get only a monthly stipendum of 500€ and i dont get any "Einkommensnachweis" as mentioned above. The money just gets credited to my A/C. I have asked for the Finance people in the company for an "Einkommensnachweis" and they said they would give me a bonafide in the company's letter head stating my monthly stipendum amount. Is it ok when i attach this to the application form?

By the way, whats the difference between a Student and a normal account with DKB? both seem to be the same. are there any differences?

I have another question. Have been used to Sparkasse account for the past 3 yrs. Now i want to close it for a few reasons. I have given that account details for my mobile connection, Insurance, rent etc etc. And they withdraw the money i owe them at the specific dates. Is it easy just to change the account details at these places to my new DKB account? hope DKB works on also the same way sparkasse right? I know this might sound stupid for many of you but its the only account i have in germany and am only used to Sparkasse's way of banking . will o2 be able to automatically withdraw the next bill amount once i change my account details to the new DKB account?

I tried to findout what DKB charge to close the account. Any idea? not that i am planning to do in near future. Just want to be informed.

Your replies will be really appreciated.

Cheers!

I am a new DKB user. Though I am quite new to DKB, I am sure you can change your billing address easily by just offering your new DKB account to those companies e.g. O2.
Maybe DKB doesn't offer "banking-transfer service", but you can just go to the leasing companies and tell them your bank account will be changed and effective on which date and offer your signature of course.

Ya, am planning to do the same. Will hold the Sparkasse A/C for a couple of months more. Will give the new banking details to the comapanies and see how its working.

cheers.

Hi,

Thanks to all who had posted their views in this thread. Read many links about banks and decided to go with DKB since it had the least negative feedbacks and more importantly suits my way of banking.

Just went to the Postbank and finished the formalities. How long does it normally take? or that how long should i wait to hear from them b4 i call them up 4 update?

cheers

I got my account information within two days of going down to the Postbank and my VISA card the day after.

Ah! Thats sounds really very fast. Is it usually so? how was it for the others?

Anyways, will wait for about 10 days max and if by then if i dont hear from DKB then will contact them.

WOW!

I went to the post office last thursday evening just b4 the closing time around 5:45pm and submitted the documents. Next day at 11 am i received an email from DKB stating that they need a capy of my work permit. I faxed it to them immediately and they confirmed receiving it. Yesterday they sent me an email saying tht my A/C has been successfully opened and today via post i received the A/C details.

This is one of really fast working banks is it? All my emails were answered within less than 5 minutes. I was astonished to see that.

Anyways, thanks u guys for all the valuable info.

cheers

Great!
What is their FAX number?

@BMO,

DKB Fax Nr: 03318899955. Its actually not available in the website. Called the Customercare and got it.

Cheers.

Thanks a lot! No wonder I can't find it on the website!

What banking options are available (whether with DKB or other German banks) to non-EU expats who are:
• retired (and not drawing German pensions);
• living entirely off investment income;
• independently wealthy; or
• otherwise not in the categories listed above?

My question is prompted by the references in this thread to the need for salary slips/invoices or other documentation of employment/self-employment income in order to open bank accounts.

Will the banks equally accept proof of means without regard to employment/self-employment income -- bank/brokerage statements, etc.?

Thanks.

Well, you can always try at DKB, some people got lucky and were accepted just with some other documents showing that they do have some income/money. I would try, it doesn't cost you anything.
An alternative would be Citibank's Citibest account which offers an interest rate of 3.25% and the only condition is that you have to have at least 2,500 euro in the account (or invested elsewhere at Citi):
http://www.citibank.de/JPS/portal/sendAFri...;sd=sd_CitiBest

Look here for an English machine translation of a comparison of bank accounts:
http://translate.google.com/translate?u=ht...en&ie=UTF-8
There you will see under the heading "Bedingung" = condition, what conditions you have for each account. Links to banks are at the bottom of the page. DKB heads the ranking (no surprise there).

I wanted to do just that but DKB won't communicate with me in English. Guess I'll have to find some help. My experience has been that Google's translation tools aren't up to the task with this kind of subject matter. (In fact I tried to communicate with DKB using them, and . . . I guess they just laughed.)


Thanks but I visited several different branches of Citibank when I was in Germany in May and they all had an Aufenthaltserlaubnis &/or Anmeldebestätigung (I can't remember which at the moment) requirement.


That will definitely help, thanks!

I think all banks have the requirement that you have be resident in Germany and to be registered (Anmeldebestätigung). In my experience, some of the high street banks (HypoVereinsbank, Sparkasse) sometimes allow you to open the account prior to registering but only if you can tell them a valid reason (e.g. students have to show a certain amount in a German bank account before they get a visa, you have just accepted a job offer in Germany and the paper work hasn't come through yet, etc.).
An alternative would be to take a German friend/relative along who does the talking and who has an account at this bank, meaning that he/she sort of vouches for you and they can put down his/her address as your postal address for that account.

Thanks. Most banks do have such a requirement, but several I checked didn't. However, what they offered in the way of accounts was less appealing than DKB's, plus all feedback I've seen to date about DKB has been positive.

I'm not currently in Germany, so the personal visit with friend idea isn't workable. Probably a moot point in the case of DKB, since it's an online bank. (I understand it does have some 'branches' but that assumes being in a city where there is one.)

My hope was to open an account online and fund it from abroad in advance of my planned move to Germany, which is some months away.