Learn how to set up the savings feature easily

How to accumulate a small fortune with “DKB Visa Sparen” automatically

by Martin Janecke

The fact that one can pay, but also withdraw cash free of charge around the globe with the VISA card, is known to an increasing number of people.

DKB Visa Sparen

The card, which is free with the also free current account DKB-Cash, can also be used as a savings account! The balance on the VISA credit card receives good interest, just like on a call money account.

For this, the DKB has developed a clever system in order to be able to automatically and regularly save money. This is simple and at the same time extremely flexible: the DKB-VISA-Sparen (DKB Visa savings).

You can choose from individual setup options

DKB Visa Sparen is automatically performed every month. You can decide on what day of the month the money is transferred. A date close before or shortly after the salary payment are typical settings.

The savings orders are always carried out on banking days. If the date set by you is a Sunday, then the transfer is not skipped. It will be performed on Monday or – if it is a holiday – on Tuesday.

What makes sense depends on your individual manner of managing your finances. However, your possibilities of personalizing you savings order are not limit to the date.

Depending on your own needs, you can choose between three practical modes at the DKB:

  1. Saving a fixed amount
  2. Saving the complete current account balance
  3. Leaving a base amount on the current account

Moreover, it is possible to create several savings orders. Who has multiple credit cards can thus transfer money to different credit cards, but you can also combine several savings orders with each other.

saving options

The DKB offers three methods of Visa Sparen.

Mode 1: Saving a fixed amount

The classic among the saving modes is to save a fixed amount. You can let e.g. Euros 200 be transferred to the VISA credit card each month.

The motivation for a fixed amount could be reaching a certain amount until a certain point of time – for your vacation, for a major purchase or for the repayment of a residual debt, when a loan contract expires.

Mode 2: Saving the complete balance

In this mode, your entire current account balance will be transferred to the VISA credit card. Or to be precise: almost the entire balance. Out of technical reasons, the DKB leaves one cent on your current account.

Mode 3: Saving everything beyond a base amount

This is my personal favourite mode: One sets a desired amount that should remain on the current account and everything beyond is transferred to the Visa credit card with good interest in order to accumulate asset.

This way, one can ensure that one will have enough money on the account for standing orders or direct debits – for telephone, water and electricity bills – and can still pay at the checkout with the Girocard (debit card), without using the overdraft loan of the DKB.

My personal favourite

I have set my savings order one week after the beginning of the month, when the salary has been received and other regular transfers have already been completed. A buffer will remain for the rest of the month on the Internet account; everything beyond flows into the virtual piggy bank, so on the credit card.

This is great, because one can save money automatically and at the same time extremely flexible according to the respective current personal financial situation.

How to set up a savings order

set up VISA savings

You can set up your VISA savings orders within the online banking system.

  1. Log into your online banking system
  2. Click on VISA-Sparaufträge (VISA savings orders) in the menu tab Finanzstatus (financial status)
  3. 3. Click on the button Neuer VISA-Sparauftrag (new VISA savings order)

The online banking system guides you through the few steps in which you can select the account and credit card – if you have several cards – as well as the date, the mode, and optionally you can specify the savings amount or base amount. At the end, you have to confirm with a TAN.

Savings orders creatively combined

If you want to transfer everything beyond a base amount every month, but at least Euros 50 – even if your account will then will be quite low sometimes – you can combine different VISA saving orders:

  • a fixed amount of Euro 50 and
  • an order with base amount.

Another idea: If you do not want to miss out on any interest, you can also set up several savings orders at different points of time, so that money will be transferred to the credit card account automatically weekly.

What savings ideas do you have? Please share your good thoughts with other readers and us using the comments box at the end of the article!

Interest

Since the financial crisis from 2008, we live in a low-interest phase due to the monetary policy of central banks. Like all banks, the DKB bases its interest gross on the general level of interest rates.

Experience shows that the DKB holds its interest rate on a good call money level. Above all, the DKB is fair with every customer and pays sustainably and uniformly good interest – unlike other banks with “storefront interest” in order to attract new customers and only for a short period of time.

At the DKB, the interest is credited monthly – directly on the VISA credit card.

At the automatic transfer from the current account to the savings account (credit card), the value date is the same day. This means that you do not lose any day of interest.

The trick with the second credit card

If you use VISA Sparen intensively and still do not have a second free VISA credit card to your DKB account, it is worth considering.

You can use one credit card to withdraw money and everyday payments – with all the benefits, such as interest-free loan up to the automatic settlement with the current account.

One can take most advantage through a second credit card.

Your second VISA credit card can be solely used to build asset and only use it, when you want to “butcher” your virtual piggy bank. You can also manage the balance on this credit card exclusively through online banking, so another person or ATM will never see your credit card number.

You can learn how to get a second free credit card from the DKB in the article “Apply for the Visa credit card at the DKB”.

Deposit guarantee

The balance on the credit card of the DKB, as well as credit on the current account, is protected by a multilevel system of deposit guarantee. The statutory deposit guarantee covers Euros 100,000 per saving person.

Additionally, the DKB is voluntary member of the deposit guarantee fund of the Federal Association of German Public Banks.

Last but not least, also the Bayerische Landesbank being the parent company, would cover the obligations of the DKB, and indirectly the Free State of Bavaria and the Association of Bavarian Savings Banks.

How to dispose of the saved money

Disposing of the saved money is no problem at all unlike at savings accounts or fixed deposit contracts. The money is on the credit card account of the VISA credit card. So you can dispose of it by

  • paying with the credit card,
  • withdrawing money at an ATM or
  • transferring money from the Visa credit card to the current account in online banking.

This way, you can dispose of your savings even less complicated than at a call money account.

Conclusion of DKB-VISA-Sparen

With the savings orders to the Visa credit card that pays good interest, the DKB combines the convenience of an automatic savings order with great flexibility and immediate availability. One can take most advantage with a second credit card. In the online banking system, one can set up DKB-VISA-Sparen easily by oneself.

How do you use the VISA-Sparen? The comments box right below this article is activated for your ideas and questions.

Do you still not own the free current account DKB-Cash with VISA credit card? Then apply for it right now: www.dkb.de/visa-sparen

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Who writes here?

Jemand, der Einfachheit und Fairness im Geldverkehr genau wie im Leben schätzt. Mein Name ist Martin, ich arbeite gern mit Zahlen und interessiere mich privat für Fotografie.

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