Bank options in Frankfurt area

8 posts in this topic

Hi all,

 

Can anyone advise best bank options for someone from the UK who is just moving to Germany and has very low level of German understanding.

 

Relocation company are making an appointment for me at deutsche bank but colleagues are saying this might not be the best and I should consider commerzbank or degussa bank.

 

Any advice appreciated.

thanks

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Go with Deutsche Bank, they have an online banking interface in English, the others only offer it in German.

You will have enough new things to deal with after your move, and paying 5€ a month for this service is certainly worth it.

 

Once you will have learned German, you can always change to a cheaper bank account.

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I have been using Commerzbank since 1.5 years. They also offer an English Online Banking interface and I have been happy with it. And it is not a special service or anything as far as I know; they do deduct 55cents a month for maintenance but I guess that is for sending the monthly statement by post. And generally the staff speaks English and this is when I opened my account in a relatively smaller branch. Only problem is that cash withdrawal with the debit card is chargeable at most of the ATMs (except CommerzBank, DeutscheBank, PostBank and a couple others)

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Well. if you are willing to pay a monthly fee to Deutsche Bank to let them have YOUR money and charge you for other extra items, then it's Ok to go with them. On the other hand if you want to save the 5 Euros monthly fee you can try the former Citibank, now called Targobank who does not have such monthly fee and they also have their online banking in English. If you have a VISA card with them you can withdraw cash at any ATM in Germany with the VISA logo without any extra charge. So as you may suspect, I have an account with them since 2006 when I got tired of being charged by Deutsche Bank for nothing.

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Hi I'd go with Commerzbank. They give you free money to set up an account and don't charge fees like Deutsche Bank. I'm at the branch in Alte Oper right next to the old opera house. It's central, a very nice old building and there are people who speak English there. Ask for Mr. Eberhard. He'll be able to help you out. Good luck, Mark

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That depends on the areas :)

It's worth noting that the banks form "alliances" for the ATMs - for example Deutsche Bank, Commerzbank, Post Bank and Dresdner bank can all use each others' machines for free. I'm not sure but I think citibank/bb bank/sparkasse have a similar deal, but don't hold me to it. I've been very happy with Deutsche bank for the record, they're very friendly if you need any help with stuff and their web banking is better than any of the UK banks I've used.

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