Deutsche Kreditbank AG - overview

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jonasfitz
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Beiträge: 81
Registriert: 8. Nov 2018, 20:14

Deutsche Kreditbank AG - overview

Beitrag von jonasfitz » 20. Mai 2019, 12:38

Deutsche Kreditbank AG (or DKB AG) is a German online bank which offers very good conditions:
  • no account management fees
  • withdraw cash at German supermarkets (REWE, LIDL, DM etc.) for free
  • deposit cash at German supermarkets (1,5% fee)
  • deposit cash at DKB-owned ATMs for free (e.g. in Munich)
  • free VISA credit card with 0% FX fees* (supports offline PIN)
  • Google Pay supported (apple pay to follow)
  • free VPAY/girocard
  • interest rate of 0,2% p.a. for VISA funds*
  • optionally: overdraft facility (approximatel three times your monthly income)
  • optionally: installment loan (conditions are quite competitive)
  • lifetime account: keep DKB cash current account even when moving abroad
  • secure online banking utilizing a chipTAN generator
  • optionally: open giro account for your underage children
  • optionally rent a very well protected locker at BayernLB in Munich
  • optionally: open a securities account and start investing (for retirement etc.)
*conditions apply if funds of at least 700€ (accumulated) are added to your account each month.

In my opinion, DKB offers one of Germany's best current accounts. They charge no account management fees and offer a real credit card which covers most user cases (Cardholder Verification Methods support offline PIN).

The downside, however, is that DKB is quite picky when it comes to accepting new customers. During application process, your SCHUFA scores are checked. So if you really want to become a DKB customer, be sure to know your SCHUFA credit ratings.

If you just recently moved to Germany, follow my advice in order to increase your chances to get a DKB current account:
  • before applying, be sure you lived in Germany for at least six months
  • be sure to have SCHUFA records (phone contracts or current accounts will help you build a good SCHUFA history)
  • no installment loans in your current SCHUFA record
  • you are employed for at least six months
  • the higher your monthly income, the better
If you meet the following requirement, you are eligible to open a DKB account:
  • You are at leat 18 years old
  • You are an employee
  • German (plus Austrian plus Switzerland) place of residence
When applying online, DKB will ask you to provide the following:
  • passport or any other official ID
  • prove of residence if not shown on your ID ("Meldebescheinigung" in Germany)
  • Tax Identification Number (TIN)
In case of approval, you need to prove your identity at one of Germany's local post office branches.

In case of rejection, wait a few months and try again. Or ask me for advice, maybe I can help you.

-->Open your DKB Cash account by following this link<--
Need help? Just ask - I'm glad to help!

jonasfitz
Site Admin
Beiträge: 81
Registriert: 8. Nov 2018, 20:14

Re: Deutsche Kreditbank AG - overview

Beitrag von jonasfitz » 16. Aug 2019, 21:37

What happens after your application?
After successfully applying for a DKB giro account, you will receive a few letters, containing your IBAN, login names, PINs and two payment cards.

How to use your cards:
You will receive two cards:
  • VISA Credit:
    Use your VISA card for POS or online purchases, whereever accepted. New customers will get 0% foreign exchange fees within the first year. After one year, 0% FX fees applies if you manage to have at least 700 euros transferred to your giro account each month (e.g., receive a salary or any other funds larger 700 euros, accumulated), otherwise a FX fee of 1,75% will be charged.


    The card looks like this:
    DKB_VISA_VS.png
    DKB_VISA_RS.png
  • girocard/VPAY (cobadged):
    As a rule of thumb, use your girocard for authentification purposes only (that is, in combination with a chipTAN generator).
    Never use your girocard at ATMs, as you will be charged a high fee for doing so!

    Here is a picture of the girocard:
    DKB_giro_VPAY_VS.png
    DKB_giro_VPAY_RS.png
How do I get cash?
Even though I recommend to pay by card wherever possible (because it lets you track your spendings and thus stay within your budgets), there may be some occasions where you need cash.
  • Utilizing your VISA card, you may withdraw cash at any VISA-ATM, both in Germany and abroad. You need to withdraw at least 45 € (or foreign currency equivalent), if you try to get less, the process will be quit. Make sure to withdraw cash in local currency when abroad: Avoid so-called Dynamic Currency Conversion! It's a rip-off.
  • Use BARZAHLEN services (get cash in many German supermarkets and shops). To do this, log in to your banking interface and navigate to Mein Banking -> Cash im Shop:
    cash_im_shop.png

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