With the account DKB Cash, the Deutsche Kreditbank currently offers the best free Internet account. In order to provide these conditions, a cost-effective bank structure with as little work as possible on customers is important. On the other hand, a strong creditworthiness and high revenue ratings and are necessary.
Whenever a prospect applies for account opening, he/she passes through an internal creditworthiness and evaluation process at the bank. This is largely automated. Unfortunately, the bank rejects with this also quite a lot of potentially “good” customers.
Why does the DKB reject?
Reasons that may lead to a rejection by the DKB
- Unemployment or too low income (Although the DKB does not specify any minimum deposit, a calculation of whether the prospect can live on his/her income will be performed. Even a fictitious rent is deducted. This applies disproportionately to e.g. young professionals, who still live with their parents.)
- Poor creditworthiness at the Schufa (Credit Investigation Company) (Within the application process, the Schufa is retrieved. It is assumed that prospects beneath a certain rating will generally be rejected.)
- Self-employed people for business use (There are a few self-employed people that are likely to obtain an account at the DKB. But throughout the years, we have received many e-mails in which people have reported that their account opening has been rejected due to their self-employment.)
- You have already been a customer of the DKB. Regardless of whether you or the bank have cancelled the account … unfortunately, the DKB is a bank that does not offer a second chance.
Preferred Customer Groups
Besides all well-earning employees, retirees, civil servants, soldiers and judges, also account applications from students and German-speaking people from other regions of the world pass the qualification processes relatively well.
Whoever wants to have a try at the DKB, go to: www.dkb.de.
Rejected – what now?
The rejection letters presented to our editorial office generally do not show any specific reasons for rejection. Even phone inquiries at the hotline of DKB do not help.
Is it possible to reverse the rejection?
The phone operators are very friendly, however, they cannot or do not want to explain or give reasons for the specific rejection. They always ask for comprehension.
Evidence hardly makes sense
Even if you can provide evidence for the DKB, e.g. with a statement of assets or income tax return that you would be a “good” customer, the bank does not change its mind. Granting that perhaps the automatic process has decided wrongly, won´t help either. A bank that looks for reducing expenses does not have resources for that.
The rejection rate is about 60 percent
According to our research, the rejection rate of the DKB is about 60 percent!
However, one must admit that the bank rejects most applications somehow justified. After all, there is also the application for a credit card included. And the outstanding services, such as the worldwide free cash withdrawals that are financed by the revenues of the high-revenue customers.
Alternative to the DKB
If one wants to actively use an internet account will find a similarly good offer at the Comdirect Bank. The conditions are very alike in many respects.
Try another bank!
Fortunately, at the Comdirect, you have the possibility to obtain the Visa credit card as a prepaid version. This helps customers, who are less creditworthy or where the Bank cannot fully evaluate the creditworthiness – for example, in a residence abroad, to set up an account based on the credit.
I myself have a free account at the Comdirect, which I use as a second account. It indeed is a very good German bank!
The three main points:
- free currant account
- free bank and VISA card
- many free ways to get cash in Germany and abroad
Just like at the DKB, the account application is in German language and also the legitimating is possible through the internet via webcam. So you can easily obtain your account from anywhere in the world.
“Try this German Bank”
… free current account similar to the DKB
Images: 3 × ioannis kounadeas – fotolia.com