Since 2014, bank customers have to use the IBAN (International Bank Account Number) for any bank transfers within the SEPA-countries. Even if the bank account numbers have become longer, there are some advantages.
A key advantage of the EURO-zone is that it makes virtually no difference anymore, whether you have your current account (but also savings account or credit card account) in your home country or in another EU-country.
However, the costs that a bank customer has to pay vary a lot. In many countries, there are a bunch of fees for the use of a bank account or a credit card.
But this is different at Deutsche Bank (DKB). It offers a totally free current account, also with a free VISA credit card. In Germany, it is well known and popular as the „main bank on the web”.
Very Good News!
Every citizen of the European Union with basic German language knowledge and sufficient credit can open this bank account. EU citizens do not need to visit Germany to open a bank account. The bank account can be opened via Internet and post service.
The legally required identification of the person can be made through a local bank, a lawyer or notary.
Details about the German Bank Account of the DKB
- Free account maintenance
- Free bank transfers
- Free credit card (Visa Card)
- Free cash withdrawals from all Visa ATMs around the world!
- Bank account in Euros
- Bank transfers in other currencies are possible
- And on request:
- Overdraft facility with low interest rates
- Savings account with monthly interest payment and immediate availability of money
- Securities account with low order fees on German stock exchanges
- Account for Minors with Prepaid Visa Card
DKB as a Salary Account
With the SEPA implementation and the obligation to use the IBAN for bank transfers instead of the national account number, you have the right to use the DKB bank account as a salary account.
Every employer and every governmental payments office (e.g. for retirement) will be able without any problems to transfer money to your new bank account at the DKB. A SEPA bank transfer costs exactly the same as a national bank transfer and is just as quick. A bank transfer takes up to one day maximum. This is regulated by law!
Also regular withdrawals, such as rent or mortgage payments, can be realized through the German bank account.
You can transfer money to your home country, or set up standing orders. All bank transfers within the EURO-zone will be free of charge at the DKB.
If you use the bank account as a salary account, at the DKB you will get an overdraft credit granted very easily. The limit of credit is a maximum of three times the amount of the monthly salary payment. The credit interest is relatively low in Germany.
You need cash?
Nothing easier than that! With the free Visa Card, you may go to any ATM with the Visa symbol and you will receive cash free of charge. You can continue to use the same ATM as before, but you do not pay any cent for it!
These Conditions are Great!
Consider this: On any trip worldwide, you can withdraw cash free of charge. This also applies to withdrawals in foreign currencies, for example, in the United States. DKB does not charge cash withdrawals in countries with different currencies!
DKB as an Additional Bank Account
Of course, you do not have to close your existing bank account. You can keep it and use the bank account in Germany as a secondary account for different purposes. For example, as a:
- Travel account (because the cash withdrawals are everywhere free of charge)
- Savings account (because Germany is one of the safest countries for savings deposits)
- Securities account (because you can trade through the DKB-Depot at very fair conditions on the German stock exchanges)
You can add your own ideas about the use of the bank account to this page. Please use the comments box at the bottom of the page.
Bank Account Opening at the DKB
The account opening consists of 3 steps:
- Fill out the online application on this page:: www.dkb.de/ausland/.
- When submitting a residence outside Germany, DKB will contact you within three days and discuss with you how you can verify your identity.
For all EU countries, we recommend the authentication of your identity through a local bank. For your convenience, you are welcome to print our service letter and take it with you.
- You will receive several letters with the bank account data and access information as well as bank cards.
From then on, you can enjoy the many benefits of a bank account in Germany!
“Apply for a German Bank Account Now”
… the world´s most attractive bank account!
Do you need assistance? Please write us on our German support site.
Websites that may also help you:
- 10 Reasons for a bank account in Germany
- DKB account opening from all countries (Overview for identification, german)
- The 11 most important functions about DKB Visa Card
imagery: euro zone: Glentamara