First of all, a big thank you for the many received comments and e-mails. We could not publish all of them, because it is not beneficial for our readers to write 8 times on the page that there will be a change of conditions on the 1st of June 2016. OK?
1. The most important details
In the future, the DKB won’t refund the foreign fees of cash withdrawals anymore. Our instructions are therefore void.
What will remain though: no fees for cash withdrawals by the DKB.
This will now also apply to the Giro-card (debit card). The previous minimum fee of Euros 10 is cancelled. But here too: foreign fees won’t be refunded.
1.1 Recommendation for action
Make sure to continue to use the DKB Visa Card for withdrawing cash within Germany and abroad. The DKB will still not charge you for this.
Pay attention that the ATM does not charge any additional fees (direct customer fee). There are some banks that do that! In this case simply use another ATM.
In Thailand and the USA, where a direct customer fee is common, this is more difficult … however, this has inspired me – encouraged by an idea of Johannes S. of our Facebook Mastermind group – to publish an idea that may trigger a small revolution!
Please necessarily watch the second part of the video clip (in German language):
2. May we start this revolution?
Summary of the video: Who pays cashless with the DKB Visa Card in a foreign currency abroad (e.g. USD), is virtually punished with the foreign transaction fee of 1.75 %.
It would be smart to withdraw cash (from the first of June possibly at a “No-Surcharge”-ATM), because there is no such foreign transaction fee for cash withdrawals and then pay with cash instead.
What is the benefit of the DKB? None, but costs!
The DKB pays for the cash withdrawal and it would earn from a card payment abroad also without charging the foreign transaction fee, because the payee pays the fees for the card payment.
Actually, it should be the other way around!
What if the DKB would reward the payments using the Visa Card abroad by abolishing the foreign transaction fee or at least reducing the fee significantly?
Then, most of us would not have to withdraw so much cash and it would not matter us as much that the foreign fees are no longer refunded (apart from the fact that the refunds were an extremely good exceptional condition in recent years!).
Who supports this proposal?
I am asking you to vote through the comments box. 🙂 Further ideas for the optimization of the conditions are also very welcome.
I will forward the results in a summary to the DKB. Let’s see, if we can make a difference!
Frequently read articles about the DKB:
- DKB Visa Card on journeys abroad
- 3 Secrets for new customers of the DKB
- DKB: 10 (partially) unbelievable facts!