The joint account represents for many couples the ideal account form. One or both let their salary be transferred directly to the account and both can use it without restrictions.
The days are over in which one had to transfer from one account to another and in the worst case, one had to pay debit interest on one account, although there were enough funds on the other account …
First of all, a summary of the outstanding conditions:
- Online Joint Account for all German speaking people worldwide
- free account management
- free Girocard for each person
- free VISA credit card for each person
- free cash supply around the globe (!)
- good interest rates on credit
- fair overdraft facility
- optional securities account
- account application possible online,
Proof of identity possible through WebCam, PostIdent or identification form from many countries
Visit the bank here: www.dkb.de/privatkunden/gemeinschaftskonto/.
More than two bank account users are possible …
The DKB joint account is not limited to two users! While there are always two account holders, you can add indefinitely many authorized persons to the account. Each authorized person may also obtain a Girocard and VISA credit card. Thus, the account can be used by larger communities.
Ways of using joint accounts
1. Joint Account for couples
This is the classic of the joint account. Both partners share an account and both enjoy the same services and benefits. The account may look like this:
- 1 Current account of Family Smith
- 2 GiroCards
- 1 for Mrs. Smith
- 1 for Mr. Smith
(Purchases of both cards are immediately deducted from the current account)
- 2 Credit cards type Visa Card
- 1 for Mrs. Smith
- 1 for Mr. Smith
(Purchases are collected on separate credit card accounts interest free until the monthly billing on the common current account)
- optional 2 Visa credit cards are possible as a savings account (call money account)
The joint account can be used as a salary account in order to increase the credit limit, but it does not have to be. No matter how much or little you use the DKB joint account, it is always free. The credit cards of course too.
2. Joint account for shared apartments
Residential communities have been established and many people enjoy living together. In order to simplify the financial aspects of a shared apartment, a joint account can be useful in many cases.
A joint account is usually opened by two persons. However, further authorized persons can be added to the account.
The difference between an authorized person and an account holder consist mainly in the fact that an authorized person cannot close the account. Besides that, he/she can take advantage of all features.
A typical residential community may look like this:
- 1 Current account of the residential community Smith-John-Brown
- 3 GiroCards
- 1 for Anabel Smith
- 1 for Mary John
- 1 for Christian Brown
- 3 Credit cards
- One for each member of the shared apartment
- Optional, for each member of the shared apartment another Visa credit card is possible.
Three account users is not necessarily the end. You can add four, five, six and more, if it makes sense in your case!
From the joint current account, the rent and the charges are deducted as well as the purchases for the common life and living is paid through the Girocards and the first Visa credit cards.
On the second Visa credit card, each person can accumulate savings for him/herself. But beware, as each person will be able to access the account online and can make transfers and withdrawals. Moreover, there are interest rates for credit (Visa savings) from the 1.1.2015 only for account holders. The cards for authorized persons are managed free of interest.
How often the joint account of shared apartments is actually used, depends on the people living in a residential community. In any case, it is free of charge, including all bank and credit cards. And even if this account will only be used for the common rental payment and possibly the reserve fund for repairs or joint purchases, it is worth it.
Each person then transfers ones rental share by standing order from a private current account to the joint account and from there, another monthly standing order transfers the rental payments.
Further advantages of joint accounts
Bundling of financial power
If you transfer several salary payments to one bank account, you have a considerable higher chance to obtain an accordingly big credit lime or overdraft facility. At best, this could be up to 3 times the amount of all salary payments together.
Handling of financial affairs in emergency situations
If your partner, flatmate or someone else with whom you have used a classic single account, is no longer or temporarily not able to take care of his/her financial affairs (e.g. transfers, cash withdrawals) due to an accident or sudden illness, no one else can do this (unless an authorization has been issued and approved by the bank previously).
This way, quite some people have fallen into financial disaster, because bills were not paid and serious consequences of delay occurred. Thanks to the joint account, the other account holders will be able to avert that.
Collecting points together
Whoever pays with the DKB Visa Card, automatically collects points. These can be redeemed for prices. This way, one can make common purchases as a couple or residential community that cost nothing … because they will be paid with the bonus points of the DKB use.
Risks of Joint Accounts
It is, of course, useful to know the people well with whom one sets up a joint account, because everyone is equally entitled to dispose of the account. Only the account closure must be made jointly by all account holders.
The DKB joint account is the ideal bank account to master easily financial tasks of several people, because:
- everything happens through one bank account
- each has its own bank card
- as well as an own credit card for each person
- and at request another additional Visa credit card (e.g. for saving purposes)
The joint account can be used for common interests, like the handling of rental payments of a shared apartment up to the main bank current account of a whole family.
It does not matter how you personally use the DKB joint account. In any case, it remains permanently free of charge!
By the way: Each cash withdrawal with one of the Visa cards is free in Germany and abroad. Regardless of which bank the ATM is. That indeed is a huge advantage, isn´t it?
“Apply now for the DKB Joint Account”
… the most attractive bank account worldwide!
I am already customer at the DKB. Can I change my existing account into a joint account?
Unfortunately, a change is not possible. Please fill out a new application for the joint account by clicking on the button. The joint account, however, will be linked to your existing account. This way, you keep your existing credentials. Then, when you log into your online banking, you will see both accounts.
Questions about the joint account?
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Likewise, you can complement this page with your own experiences and ideas for usage. This should help other people, who search for a good joint account …
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