On the 1st of December, all DKB accounts will be adjusted. Quite some changes await us!
For our readers and subscribers, I have worked on a before-after overview, so you have an easier time to use the new conditions.
Surprise: A lot will become better instead of worse!
Comprehensive explanations below the table:
until the 30th of November 2016
from the 1st of December 2016
for active customers
from the 1st of December 2017
for passive customers
|Definition of active/passive customer ► here ◄!|
|account management||free of charge|
|Girocard||free of charge|
|Visa Card||free of charge|
|Pay cash and cashless|
|withdraw cash||worldwide free of charge
10–1,000 € per day
|worldwide free of charge
50–1,000 € per day
|free of charge within the euro area
= no withdrawel fee
50–1.000 € per day,
but 1,75 % foreign transaction fee for cash withdrawels and card payments outside the euro area
|foreign transaction fee||1.75 %
exept for cash withdrawals
|free of charge
⇒ article on this subject!
|pay contactless||yes (amounts up to 25 € pay without entering PIN (optional))|
|cash in the store
|yes (withdraw cash fee-free in the supermarket)|
|Visa Savings (old)||0.4 % interest
on the 2nd Visa Card (optional)
|Visa call money||–||0.4 % interest
on additional virtual Visa Card (optional)
|overdraft facility||6.9 % interest||7.5 % interest|
|Further features and services|
|emergency card||free of charge||(not available, now product expansion “Notfallpaket“ (emergency package))|
|emergency package||(not available, as it is a new development)||free of charge||subject to fee|
|Kartenkasko (card insurance)||(not available, as it is a new development)||free of charge||minimum threshold 50–150 €|
|TAN-procedure||pushTAN, chipTAN, iTAN (for existing customers with account opening until autumn 2014)|
|DKB Club||is suspended – collected points can be redeemed within 5 years|
|individual card design||(not available, as it is a new development)||yes
20 € once
|account switching service||yes|
|minimum age||18 years
account opening for minors through the parents
|place of residence||Germany, Austria, Switzerland
(further countries are possible for German expatriates)
|account opening||free of charge ⇒ www.dkb.de|
Explanation of the new conditions
A) Summary for fast readers
In contrast to the general trend of condition worsening of current accounts, the DKB offers some really positive surprises:
The current account + cards will remain free of chargefor all customers!
Other banks introduced account management fees or increased the minimum of incoming transfers massively – for example, to Euros 3,000 at the Postbank.
Withdraw cash free of charge around the globewill remain!
Other banks have limited the number of free cash withdrawals or charge fees for it.
Elimination of the foreign transaction fee
With this, all card payments abroad (foreign currency) are free of charge.
Possibly, we smart bank customers are not completely innocent. See the comments on this German article: Please abolish foreign transaction fee!
- Introduction of the emergency package and card insurance without minimum threshold
- optionally for Euros 20 an individual card design
- very easy hurdle in order to remain a priviledged “active customer” after a 12 month test period
For details see Section C.
B) Current market environment for current account-holding banks
In this year, there were the most worsenings of current accounts in Germany since more than 15 years. Generally, account management fees, as well as fees for services regarding the current account were introduced or increased.
The background-key words are:
- too low interest-environment due to political reasons
- decreased income through fees at card use due to political reasons
- higher auditing and documentation costs due to political reasons.
There are banks that burn money due to their current settings of free current accounts! Perhaps you have notices that some banks no longer advertise their current accounts?
The president of the savings banks was repeatedly quoted in the press that the time of free current accounts is over.
End of free current accounts? Fiddlesticks!
The DKB has not only published ads unter the slogan “Kein Aber” (no but) in the television and on YouTube during the summer, but has repositioned itself for the coming years with partially greatly improved conditions: in the future, there will be two current account models – and both are free of charge!
C) The new conditions in detail + recommendation for action
The good news: no matter how you have used your DKB account, you, being a smart bank customer, do not have to change anything. The use will be improved automatically.
Nevertheless, there will be two customer groups at the bank:
- the “active customers”
- and the others.
As you have already seen above, the active customers are set up a little better in their conditions. As an existing customer of the bank, you are automatically an active customer until the 30th of November 2017, no matter how often or seldom you have used the DKB until now.
As a new customer of the DKB, you will also be an active customer for the first 12 months from the account opening.
Everyone can test the DKB risk-free for 12 months!
Afterwards, your usage behaviour will decide, whether you remain an active customer or not.
Again good news: it is super easy to be regarded by the DKB as an active customer!
How to become an active customer:
- Make sure to have monthly incoming transfers of at least Euros 700.
Done. This is the only requirement according to the current state of knowledge!
These Euros 700 do not have to be transferred as a salary payment nor in a sum!
With this comparatively low amount (Postbank: Euros 3,000), most people have an easy time to remain an active customer and therefore be in the middle column of our comparison (see above).
For you, the DKB will become even better than it is today.
However, even if you decide to not have a monthly incoming transfer of Euros 700 or more to the DKB account, the account will remain free of charge for you also in the future!
This is a very important notice for many of our readers abroad, who use the DKB as their homeland account etc. only sporadically.
Clever people will try to organize the incoming transfer anyway, in order to avoid the foreign transaction fee. I know from numerous conversations with DKB customers living abroad that this is an important point, which should not be underestimated!
Therefore, I am very thankful to the DKB for this great improvement of conditions, as well as to all readers that have supported us in our argumentation (German)
How will it continue?
As you can imagine, not every single change and introduction can be explained in detail in the first article. However, it was important to create the big overview for you to understand the future of your DKB account.
Please rate this article positively and recommend it to others, if it has helped you to gain orientation.
In the next time, further articles will be published that will show and explain the new features and service (emergency package, card insurance, DKB Live and the individual card design) in detail.
If you already use our notification service, then you will be informed in advance about further developments.
Please ask your questions through the comments feature at the end of this page. I will gladly help, wherever I can. Furthermore, you can report about your knowledge there too.
Further frequently as positive-rated DKB articles
PS: Thrilling hours are behind me and I am glad to now click on the button “Publish” for you! Thank you 🙂