# Did anyone of you open an account with one the biggest german banks?



## Godfather

[broken link removed]

I still think the Euro won't last long. So if I would bet on which country would have the strongest currency I still think Germany is a bit ahead than other countries in Europe.

I was wondering if anyone in this forum ever opened a non-resident account in Germany. 

Thank you!


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## Marietta

Godfather- Why would you want to invest in Germany, if I were you I would leave the money in your country of birth!

I firmly believe there is no where secure in Europe at the moment. There is huge discontent out there and I have no idea where it is going to end.

I am so dismayed and upset at what has happened to our vibrant country in recent years, there seems to be no end to the misery that has befallen the people and it is the most distressed and the most vulnerable that appear to be taken or will take the blunt of the cuts. In some forums I read of suicidal people who want to end it all as they have lost all hope, see no future and can't see a way our of the darkness. What upsets me most is the very people who are responsible for this economic and social catastrophe are the very people who are now in the negotiation process with the IMF/ECB/EU Commissioners. Surely the opposition parties should have some say in these talks afterall they will be the ones that will have to impose the austerity measures on Irish people into the future.


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## Godfather

I'm sorry for the actual situation in Ireland and I do apologize if my post might hurt some feelings... 

...But I have to say that due to Public Debt and Deficit-situation Germany appears to be the safest option for any savings in Europe hence why I'm asking...

...I'll never forget when in the late 80s/early 90s Italy had to devalue the currency of 7% against the Deutsche Mark overnight
...And I still believe Euro will disappear one day...

Again I repeat: I'm very sorry if my post might hurt some feelings... My apologies in advance! 

...I'm just curious if I'm the only one thinking Germany is a bit ahead of other countries certainly ahead of Italy that is still strong part of the "piigs" acronym...


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## SlurrySlump

Marietta said:


> Godfather- Why would you want to invest in Germany, if I were you I would leave the money in your country of birth!


 
I think most of us are beginning to think about ourselves for a change because no one else did.


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## chewchew

Did a bit of a google search and found some people that managed to open deutsche bank accounts without a german address or going to germany to open the account.

http://www.associatedcontent.com/article/93469/how_to_open_a_euro_denominated_bank.html?cat=3

The page is from 2006 so I don't know if it still applies but I'm going to get on to deutsche bank tomorrow.


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## Shepherd

Godfather said:


> [broken link removed]
> 
> I still think the Euro won't last long. So if I would bet on which country would have the strongest currency I still think Germany is a bit ahead than other countries in Europe.
> 
> I was wondering if anyone in this forum ever opened a non-resident account in Germany.
> 
> Thank you!



I would be thinking along the same lines as this in regards to the euro. I feel Germany would be a safer place for one's saving as well if its possible to open a non resident account there so if anyone has some info on this or has successfully opened a non resident account with a german bank, please let us know how to go about this.


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## chewchew

I also found a thread over at the property pin where people are talking about buying german government bonds. Check out the 4th post down by bcommercial, some good info in there.

http://www.thepropertypin.com/viewtopic.php?f=19&t=16797&start=75

What are the pros and cons of purchasing government bonds rather than opening a savings account? Also, what is a notary and where do I find one in Ireland?


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## Godfather

Chewchew, thank you so much for the 1st link! It's giving some hope and ryanair flights from Dublin to Hahn-Frankfurt are relatively cheap! 

Around the 2nd link thank you again: I have to say that that link for BCommercial was so great I had to add it to the "Best Buy Foreign Accounts" thread I previously created as well. 

THANK YOU!!!


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## bacchus

Godfather said:


> [broken link removed]


This "news" is dated 2006 if i am not mistaken...loads of things have change since.  If you believe that euro will end, then you may better off investing/depositing your money in a non EU country.


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## Godfather

Thank you Chewchew!

Hi Bacchus, why sorry? No other european economy seems strong like  Germany and France. Anyway we would go back to the country-fluctuations  and the Deutsche Mark would recover very quickly...


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## 149oaks

I've been reading these threads a while and they seem to be veering off the point which is has anybody successfully opened a deposit a/c online in any other EU country except for Keytrade. If they have can they give the detail please particularly for a German Bank.


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## Godfather

Hi, Keytrade is in Belgium which is at risk as well (I was reading the map on sunday times yesterday). Some people opened with Barclays France and France is very secure.


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## 149oaks

Thanks for that Godfather. Just a couple of questions if you have time:
- Do you have to travel to Germany to open it?
- If so do you need documents signed by a notary or such as per previous posts?


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## Stephanno

Godfather said:


> Thank you Chewchew!
> 
> Hi Bacchus, why sorry? No other european economy seems strong like  Germany and France. Anyway we would go back to the country-fluctuations  and the Deutsche Mark would recover very quickly...



If the euro goes down, all Europe will be in deep problem. Germany and France might sound strong, but you have to consider that both German and French banks are quite exposed in Greece and Ireland therefore they won't escape the economic mess. If I had the choice I would go with a USD account in America on the basis that if the euro goes down the USD will be the main currency for trading for a while.


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## priscilla

Apologies for going off thread a bit but what does anyone think of this article?.

Sorry, don't know how to get article copied and pasted; it's from
Money and markets, Mon 29th, "New phase of debt crisis"; 
it has a lot of 
references to Ireland which are very worrying and the fact that Patrick Houlihan has started to sound a bit like Brian Cowen makes me worry all the more.


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## Shakespeare

Thanks perplexed, good to know where to find someone English speaking, however the real question which hasn't been confirmed yet is whether you can open a non-resident account (so obviously won't have bills/proof of address) without having to travel.
And is there a definitive, guraranteed to work list of things you need to have with you if travelling over there?
Thanks in anticipation
S


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## Godfather

Thank you, I'll keep you updated if I get more news... (in my spare time though)


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## 149oaks

I called Deutsche Bank yesterday and girl told me all I have to do is go to a Branch (in Germany) with Passport and they will open an a/c. Anybody else called them or done this?


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## Godfather

Thank you so much Perplexed! I'm still waiting for an answer from my contact but she told me that there are lots of similar requests so I'm the queue for an answer!!!


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## treasure

*Contact*

I have a good contact in Germany who is Irish and I will ask him for advice for you.


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## Shakespeare

Thanks treasure, really interested in the response to this.
Looks like one does have to travel there so the really important elements are what precisely do you need to have with you to guarantee it's not a wasted trip.
The passport is a given, forms I assume (do they have to be completed in German), some form of notarisation (whatever is involved there would be good to clarify now that the Embassy is a closed option).


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## treasure

*Contact*

Have been in touch with my contact who said that he will clarify everything with his bank as things have changed a lot in the last few months, so will post information when he gets back to me.


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## Perplexed

149oaks said:


> I called Deutsche Bank yesterday and girl told me all I have to do is go to a Branch (in Germany) with Passport and they will open an a/c. Anybody else called them or done this?



Don't forget you will also need proof of address so bring a few bills with you as I've stated above.

Also unless you speak German it's wise to check that the branch you have in mind has an English speaking staff member.


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## Shakespeare

Thanks a million for posting that Godfather.Do you still have to travel over there to effect opening the account and if so, do you have a definitive list of what you need re forms (and in what language), notarizations etc?


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## chewchew

> Thanks a million for posting that Godfather.Do you still have to travel  over there to effect opening the account and if so, do you have a  definitive list of what you need re forms (and in what language),  notarizations etc?



I'd like to know this also! I tried to open a debt register account with the finanzagentur bank but they said that they no longer accept notarised documents.


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## Godfather

Shakespeare, chewchew, the most important thing is to sell your resume' when a customer service representative takes care of your call. 

In my case they wrote me I don't have to fly to Germany, but I need to get all the docs certified by their branch in Dublin or by the German Embassy. 

Now I've a query though: all the docs have the German address, don't tell me they'll open an account in Dublin with irish sort code and account number with all the efforts I did to sell my CV!!!


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## 149oaks

Through a French friend I've got a contact in Banque Populare they have offered to open an a/c without having to travel to France. I still waiting details re what type of a/cs and rates. But does anybody know how stable this bank is? Nothing seems straighforward with the German banks so whats the view on the stability on French ones?


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## chewchew

> Through a French friend I've got a contact in Banque Populare they have  offered to open an a/c without having to travel to France. I still  waiting details re what type of a/cs and rates. But does anybody know  how stable this bank is? Nothing seems straighforward with the German  banks so whats the view on the stability on French ones?



I'm also losing hope with opening a german account and am looking at France maybe. I think some people on here have opened accounts with Barclays.

I've been looking at this place on Godfathers foreign deposit thread ....http://www.britline.com/ they're part of Credit Agricole. It seems that you can set up an account entirely by correspondace. I'd also like to know if Credit Agricole is solid right now?


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## Shakespeare

Chewchew
I may be incorrect but I thought when I read up on britline, you have to either own French property, be in the process of buying French property or have proof of recent/regular travel to France.


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## chewchew

I'm not sure about that Shakespeare, I was speaking to a customer service rep yesterday and they didn't mention that at all. I better follow up on it.


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## Shakespeare

Would love to be wrong, I think I read it on the site itself, haven't spoken with anyone anywhere. It mentioned travel documents, visa receipts to prove you've been in France, shopped there etc. I'll try to find it again, starting to doubt my sanity now........


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## Shakespeare

http://www.britline.com/currentaccount/applying/

See link above, perhaps only applicable if opening a current account - mea culpa, hopefully deposit accounts are different


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## chewchew

They told me I have to open a current account before I can open a savings account .....This was looking promising and all. I'm waiting for a call back from them, i'll post here when I find out.


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## WaterWater

Marietta said:


> Godfather- Why would you want to invest in Germany, if I were you I would leave the money in your country of birth!


 
Marietta, how can you say the above to Godfather when you posted this below yourself?


_"Same here, they are very quick on the ball. I must say I felt a tad guilty when I went in to close my Irish Nationwide account in favour of opening a British (euro) Nationwide a/c. I am conscious of Irish jobs lost etc but until such time as the Irish financial institutions regain some credibility I am unwilling to take the risk of losing hard earned savings." _


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## Savvy Row

To open a non-resident account with Deutsche Bank, you need to lodge a minimum of 100k. Up front - and agree not to touch it for some time.


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## Godfather

Savvy Row said:


> To open a non-resident account with Deutsche Bank, you need to lodge a minimum of 100k. Up front - and agree not to touch it for some time.



Really? Oh dear, if I look at my email to them I was mentioning something more than 100K, sorry I wasn't aware of that...

Anyway in this period I'm taking a break from panic attacks... Whatever will happen will happen... For me having my savings where I want to buy my dream house makes me feel more comfortable...

What a shocking period... 

I wish everyone a lovely Sunday full of walks, physical activity, positive thinking... Every evening I write down a list of positive things in my life and it's helping me with my worries about the future of Ireland, my savings, Italy, my family, etc... Also some good books on Zen, buddhism, mindfulness, etc are helping a bit... 

All the best everyone!


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## TrueBlue1150

I agree with you Godfather, it is a lovely sunny morning, perfect for a walk. 
The only advice I would like to give is if you decide to open up a bank account abroad, it makes sense to open one in a city tourist area. This way you are more likely to be able to speak with someone who also speaks English. I opened an account in 2007 with the Deutsche Bank in Berlin. The branch is in one of the main tourist centers, Zoologischer Garten, Hardenbergstr, very close to the city zoo and other main attractions. Berlin is easy to get to from Ireland, they have a fantastic public transport system....arrive at the airport, walk outside the terminal building to catch the train to the city center and it is also a great city to visit for a weekend. I doubt if there will be many of these weekends happening in the near future!
As their banking on line system is available in English, all transactions are easily carried out. If I had ever had to phone the bank, I was able to speak to staff with out any difficulties as well as pass on information in English, via FAX.
I am also thinking about transfering my savings to the account even though I think the interest rates are worse than the ones available in Ireland. I am worried that any money that I hold in Ireland, to cover mortgage debt over here, may be able to pay off the debt, but what would be the true value of the asset in the future. I guess it is a gamble, but would it be worth transfering money out of the country, with the hope that if things get worse over here, I could transfer it back but with a higher worth?


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## roker

You can open a steling account at your local Irish branch, at least I did, I am considering putting most of my savings in it


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## old westie

Listening to radio this morning with Paul Summervile on Eamonn Dumphy show is seems we are heading for a devalue of the euro in the future.
He suggests this will happen by either the Main European players dumping the pigs to a euro b division, or the Germans leaving the euro. So it seems this discussion is very important.


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## old westie

Roker,
Is the account you opened a savings a/c and is it paying much interest.


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## chewchew

I'm getting frustrated with this now. Has anyone managed to open a foreign account without visiting the country in person, having to provide proof of recent/frequent travel to the country, or commit 100k long term? Apart from keytrade of course. I'm interested in France and Germany in particular.


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## Shakespeare

+1 ChewChew
I really want to open an account in Germany (even if  means trying to buy my way out of a fixed term deposit here!) but even if  I have to travel there (I've no German whatsoever), can anyone provide a definitive answer as to what you need - what application form, passport, bills, tax certs, notarisation of documents etc - if a  trip is absoloutely mandatory, I certainly cannot afford to take on the trip in vain due  to not having the correct paperwork..........
If anyone has successfully opened a deposit account  *recently* in Germany whether by going there or not, can you please advise us....?
Thanks in anticipation and nervousness......
S


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## old westie

Shakespeare said:


> +1 ChewChew
> I really want to open an account in Germany (even if means trying to buy my way out of a fixed term deposit here!) but even if I have to travel there (I've no German whatsoever), can anyone provide a definitive answer as to what you need - what application form, passport, bills, tax certs, notarisation of documents etc - if a trip is absoloutely mandatory, I certainly cannot afford to take on the trip in vain due to not having the correct paperwork..........
> If anyone has successfully opened a deposit account *recently* in Germany whether by going there or not, can you please advise us....?
> Thanks in anticipation and nervousness......
> S


 
Def +1


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## beekeeper

roker said:


> You can open a sterling account at your local Irish branch, at least I did, I am considering putting most of my savings in it


 

I think this is a super idea as Europe as a whole is in deep deep trouble and there are alot of unknowns in the likely event of a euro breakup.  My advice would be to open a sterling account in  non-eu bank like Investec and transfer your savings to GBP.  The current rate is circa 0.85 and IMHO it will trade towards 0.7 in the coming year.

Thoughts appreciated ?


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## messyleo

Do investec allow you to open a sterling account? I contacted Rabo & Nationwide UK Ireland, who do not offer sterling accounts to irish customers, only euro accounts. If anyone finds a non-Irish bank offering sterling / dollar deposits please post as I have had no such luck


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## chewchew

I have thought about opening a sterling account too, but the commission fee for converting a large sum of money from euro to sterling and at a later date back to euro (or perhaps punt nua!) would be quite large?


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## 149oaks

To get back onto the topic last night I spoke to a French friend who lives in Metz (very close to Germany & Luxembourg). I learned o couple of things:
- Last year his wife who is German had to open a German Bank A/C due to some work payments. However she had to go to a Branch in Germany to do this. So looks like we’d have to travel to Germany to open an a/c,
- He also told me that a lot of French people hold their savings in Luxembourg Banks as they are even stronger than the French.

Does anybody know about Luxembourg Banks?


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## chewchew

Keytrade have a branch in Luxembourg. Was wondering if this would be a safer bet than their Belgian branch too?

http://www.keytrade.lu/en/banking


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## galleryman

chewchew said:


> I have thought about opening a sterling account too, but the commission fee for converting a large sum of money from euro to sterling and at a later date back to euro (or perhaps punt nua!) would be quite large?


 

check out Transfermate.com or some other service and consider getting them to transfer to Stg at a better rate and then lodge the Stg funds by EFT to your Stg bank a/c. 

i looked into transfermate a bit( not a lot) and they seem to be very reasonable on rate margins, for large sums of money.


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## spreadsheet

PayPal is a Luxembourg based bank.


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## georged3rd

Fwiw I'm interested in knowing the answers to the questions posed by the OP  and others in the thread regarding the full & correct procedure & requirements for opening German bank accounts. 

So I'm going to play Mod for a moment...is it possible to *keep posts on  topic* please? There are other threads in this forum covering the  off-topic posts re sterling, Keytrade, Luxembourg etc. Some of them in  detail. For anything that's not covered in other threads a new thread can be created (easily).


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## Shakespeare

Georged3rd
+1 - put better than me too - was afraid I'd come across narky but just getting concerned that there's still no answer to the OP question - preferably the ABC idiot guide version of How to..... ;0)


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## beekeeper

You can open a Euro account with Investec who are covered by the FSA in the UK, transfer your funds to GBP and open a Gbp sub account.  GBP rates are 1.5 ish at present but you are out of the euro and have a FX position positive gbp and negative euro.  If you are looking to get out of euro denomination notes then you are obviously bearish on the Euro.


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## 149oaks

Don't want to stray off the mark too far but since my earlier post I've been e-mailing a couple of Luxembourg Banks. 1 has come back and said they don't open a/c's by correspondence and also there is a 125e Annual Fee for a Bank A/C. Rates are pretty low also at about 1%.


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## Shakespeare

John H
Thanks a million for getting back and clarifying. How do you access your funds/make deposits with EFT?
S


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## dontaskme

If you are resident in Germany you register your address at the local town hall and they give you document called an anmelde bestatigung and, generally speaking, you need this, along with a passport, to open a bank account. 

Non-resident accounts I don't know what the procedure is, like.


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## docgra

My partner opened an account in Deutscebank in Dusseldorf 8 weeks ago. She had to go in person as the banker whom arranged it likes to meet all his customers personally. He had loads of Greeks and Irish opening accounts. Money can be transferrd via internet banking but max 5000 euro per day. Interest rate poor but much better than a euro devaluation if it happens in the event of a 2 tier euro. I think its possible to sign and show the documentation in Deutscebank in the IFSC but the trip to germany was fun according to herself - all done and dusted in one day via ryanair.




dontaskme said:


> If you are resident in Germany you register your address at the local town hall and they give you document called an anmelde bestatigung and, generally speaking, you need this, along with a passport, to open a bank account.
> 
> Non-resident accounts I don't know what the procedure is, like.


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## Godfather

Guys, if Germany goes out of the Euro it's the complete end of the Euro... 

Btw the german govt protects depositors up to 50K Euro only, but do they really need such guarantee for their biggest (safest banks in Europe) Banks?


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## irishmoss

Godfather, are you saying it is no use opening a euro accouint in Germany??  If Germany leaves the Euro? Would the euros on depost in German banks not be converted to german marks




Godfather said:


> Guys, if Germany goes out of the Euro it's the complete end of the Euro...


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## Godfather

No, the opposite in my opinion. In my opinion the German Mark would gain value quickly versus the Euro which would be left out of the german energy so weaker...


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## 149oaks

How did you open the A/C's? Commerzbank keep mailing me back that I must communicate in German and the other one has no email address on the website.


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## UFC

I have an appointment with Deutsche Bank (Unter den Linden) on Monday. I will let you know how I get on!


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## Shakespeare

Thanks UFC, waiting with bated breath......    Best of luck


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## nansus

*german bank*

I do hope this is not a fake site harvesting sensitive data.


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## pudds

Not sure but it looks like that domain address is *For Sale.* 


http://whois.domaintools.com/ 


Can some else type in the address for Deutsche Bank  into the above link and see what they think the result is saying.


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## treasure

*website*

I found info on this website - deutsche-bank.de - it looks genuine but can anyone confirm?


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## pudds

Had a look again at the link treasure posted and it is suspicious  in that their appears to be no 'contact us' link to be found on it other than sumitting the form. 

Most reputable sites/organisations would have a 'contact' link. There is a contact link for 'students' but not quite the same thing.
It does have the http*s* but I wouldn't reply on that. 


I smell a rat

Contrast and compare this link for [broken link removed] with the very sparse link posted by treasure.


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## chewchew

Can somebody explain why they think that link is suspicious? Are you saying the whole www.deutsche-bank.de site is possibly fake or just specifically the contact form link that myself and treasure received by email? They both look like they're on the same domain to me?

I filled out that form too so I'm worried if something might be amiss with it.


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## nansus

I was just suspicious of the fact that at least two people had replied to the website and, had not received any acknowledgement.


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## Alfatronic

I filled out the form and got a reply 4 or 5 days later asking me to call a representative.


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## RedDevil

Having looked at all these post and the hassle of an account in Germany or wherever
Best options seems to be keep your Euro cash under the bed
and if they bring back the Punt you have your Euros


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## Lightning

RedDevil said:


> Having looked at all these post and the hassle of an account in Germany or wherever
> Best options seems to be keep your Euro cash under the bed
> and if they bring back the Punt you have your Euros


 
Again, it is a bad idea to have cash around your house. 

There are low hassle options such as:
1) A Keytrade account in Belgium. 
2) An Ulster Bank account in NI, which can be opened in the ROI. 
3) A Nationwide International account on the IOM which can be opened by post.


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## 149oaks

UFC how did you get on with Deutsch Bank yesterday?


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## chewchew

If you get in touch with them treasure can you let us know if they require you to travel there to open the account


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## Shepherd

chewchew said:


> If you get in touch with them treasure can you let us know if they require you to travel there to open the account



I would also like to know - also when I spoke to Frankfurt last week I was told the minimum was €100,000! Very confusing!!


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## 149oaks

Also I'd like to know about the options - deposit interest rates, flexibility, access etc. Do you also have to open a current a/c at the start and pay the monthly fees or can you open one when you start to withdraw?


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## Alfatronic

Btw, for anyone worried about the safety of the website and contact details - you have to go to DB's office in Dublin to get your paperwork certified.


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## 149oaks

Thanks Alphatonic, something to mull on over Christmas.


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## UFC

Btw, if you have never been to Berlin before it is well worth the trip! Really puts Dublin and our "wealth" into perspective...


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## Knuttell

Did you ask about the DB website mentioned here,is it a fake?do they acknowledge it?


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## UFC

Knuttell said:


> Did you ask about the DB website mentioned here,is it a fake?do they acknowledge it?


 
I don't think anyone apart from a few people on AAM think their website is fake, so no, I didn't ask them.


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## chewchew

Thanks DublinTexas, I have a german friend who can help me navigate that website. Can the account be opened by correspondance? Do you know if there is a depositors guarantee for non-nationals?


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## chewchew

Thanks again, looks promising. Thats the 1st time I've ever heard anyone saying to 'bing' something, had to read that a few times before the penny dropped


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## Shepherd

UFC said:


> Very well!
> 
> The whole process is simple.
> 
> Ring Deutsche Bank and arrange a meeting. I went to their branch on "Unter den Linden", which is one of the main streets in Berlin. It's the street behind the Brandenburg Gate.
> 
> When you arrive in the branch go to the counter and say you are there for your meeting. I didn't do this (I just sort of sat in the waiting area waiting to be called) which apparently is wrong. "It is very important you follow the rules when opening an account", etc.
> 
> I was brought upstairs to a room where they asked me some basic questions (e.g. what's your address) and opened my account for me. It was a very painless situation. All I needed was my passport.
> 
> Couple of important points:
> 
> 1. The interest on their accounts is quite low. I think I am only getting 0.35% on the "on demand" account I opened. I am ok with this as my concern is wealth protection rather than wealth creation...
> 
> 2. *You cannot transfer the money back into an Irish bank account*. This is really important to know. You can only transfer it into a German current account. The good news is you can also open a German current account at the same time. (I didn't bother as I am emigrating to Germany in 2011 -- I have to get out of this ridiculous country).
> 
> 3. The account isn't opened immediately. They will e-mail me when the account is fully open. Should be tomorrow. I then have to transfer 5k into the account (this is a rule when opening the account). When they have received the money they will then arrange internet banking for me. This will just entitle me to view my balance or (not applicable in my case) transfer money into a German current account.
> 
> Any questions I would be happy to answer them.



Hi UFC,

Did you ask them when opening your account if the german state guarantees non-residential accounts and to what value? (I guess it may not have been applicable to you since you are planning on moving over there anyway)


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## UFC

Shepherd said:


> Hi UFC,
> 
> Did you ask them when opening your account if the german state guarantees non-residential accounts and to what value? (I guess it may not have been applicable to you since you are planning on moving over there anyway)



I never thought of asking... I just assumed I was covered.


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## Godfather

UFC said:


> You cannot transfer the money back into an Irish bank account. This is really important to know. You can only transfer it into a German current account. The good news is you can also open a German current account at the same time. (I didn't bother as I am emigrating to Germany in 2011 -- I have to get out of this ridiculous country).



I disagree with that. My forms for opening the account with DB show that you can transfer 12K Euro/day abroad but you need to keep 100K Euro minimum in your account. 



DublinTexas said:


> DKB is one of the banks I menitoned 6 posts above



Sorry! 



DublinTexas said:


> If it's a private bank than most likley as of 01.01.2011 this year you are covered up to 100,000 € (50,000€ before that). This is operated by a federal law and mandatory.



Most likely or is this going to happen for sure sorry? We are only a week away from 1st January 2011... 

Furthermore, where do you read that? 

DB wrote me via email that they are covered up to 50K Eur per depositor. They didn't mention anything about the 30% you mentioned in your same post. So I've just written them an email asking for more information on that part. I'll keep everyone updated. Thank you! 



treasure said:


> Contacted Deutsche Bank in Dublin who gave me a  contact in Deutsche Bank, Frankfurt and this was her reply:
> 
> Thank you for your recent e-mail and your interest in opening a private account with us.
> In this connection I kindly ask you to get in touch with me on the phone  at 0049-69-910 22534 in order to discuss the details concerning the  handling of the prospective account.
> Please note that we require a minimum investment amount of EUR 50,000.
> I would be pleased to call you back to avoid costs for you.
> I look forward to hearing from you.
> Kind regards,
> Annegret Heun
> 
> Deutsche Bank Privat- und Geschäftskunden AG
> Roßmarkt 18, 60311 Frankfurt am Main, Germany
> Tel. +49(69)910-22534
> Fax +49(69)910-22487
> Email annegret.heun@db.com



Savvy Row, Shepherd and myself were written that we needed 100K Eur to open a savings account! So which version is right? 



UFC said:


> Any questions I would be happy to answer them.



Hi UFC, did they inform you as well that you need 100K Eur to open an account or less? 

Btw Merry Christmas everyone!


----------



## UFC

Godfather said:


> I disagree with that. My forms for opening the account with DB show that you can transfer 12K Euro/day abroad but you need to keep 100K Euro minimum in your account.



My opinion is based on what DB told me. So I don't know, maybe the girl was wrong!



Godfather said:


> Hi UFC, did they inform you as well that you need 100K Eur to open an account or less?



I opened it with 0 cash. I have to transfer in 5k over the next few days though.




Godfather said:


> Btw Merry Christmas everyone!



And you too!


----------



## Godfather

Thank you very much DublinTexas, thank you UFC


----------



## Godfather

DublinTexas said:


> They pay 0.5% interest on the account, 1.65% on the visa card. The visa card is a prepaid card linked to your account (but you have to transfer money onto it).



Hi again DublinTexas, quick query pls: do you think that the visa card account would be protected by the german deposit protection scheme for 100K Eur from 1st January 2011? Thank you so much for any opinion on this!


----------



## DublinTexas

Godfather said:


> Hi again DublinTexas, quick query pls: do you think that the visa card account would be protected by the german deposit protection scheme for 100K Eur from 1st January 2011? Thank you so much for any opinion on this!


 
All deposits including that on the visa card are covered as long as they are in € or in a currency of a EU member state. This does not cover certain investments but deposits on the DKB account are covered.


----------



## Godfather

Thank you very much DublinTexas! 

I'll let you and AAM know if I get an answer on the 30% from DB


----------



## Godfather

I agree chewchew... I was told 100K Eur minimum!


----------



## UFC

Just go to Germany and open an account. 

It's a fantastic country and you'll have a nice little holiday.


----------



## Godfather

Yes, but what's the minimum amount before flying there? Furthermore, banks like Kommerzbank told me "Nein" to opening an account as non-resident...


----------



## UFC

Godfather said:


> Yes, but what's the minimum amount before flying there? Furthermore, banks like Kommerzbank told me "Nein" to opening an account as non-resident...



DB in Unter den Linden have a minimum amount of 5k.


----------



## spreadsheet

What do all of you new Deutche Bank customers make of David McWilliams latest article?
[broken link removed]


----------



## Lightning

spreadsheet said:


> What do all of you new Deutche Bank customers make of David McWilliams latest article?
> [broken link removed]



Spreadsheet - Williams deposit flight article is already posted in this forum, please discuss in the below thread:
http://www.askaboutmoney.com/showthread.php?t=148929


----------



## spreadsheet

CiaranT said:


> Spreadsheet - Williams deposit flight article is already posted in this forum, please discuss in the below thread:
> http://www.askaboutmoney.com/showthread.php?t=148929



I appreciate that and you have rightly pointed it out, but I feel the article has two important themes.

One is the overall deposit flight which you have noted in the above thread.

The other is, according to David's dinner mates, the Germans have lost faith in their banks or the Euro and are getting their money out of Germany. This could raise questions for anyone who has set up accounts in Germany and have been providing advice to each other in this thread.


----------



## Jim2007

spreadsheet said:


> The other is, according to David's dinner mates, the Germans have lost faith in their banks or the Euro and are getting their money out of Germany. This could raise questions for anyone who has set up accounts in Germany and have been providing advice to each other in this thread.



When talking about in flows of cash it is worth noting that up until last quarter, David's old employer UBS was experience net out flows of several billion per quarter for about 2 years.  Last quarter it did see a net in flow of a little over 1 billion, but this was seen as Swiss cash coming back, not a foreign in flow!

The other major Swiss player CS (CreditSuisse) did in deed see big in flows over the same period, but this is simply seen as UBS money moving across the road, again not a big foreign in flow!

Another point to bear in mind is that as a result of having to settle a big tax fraud case with the IRS, Swiss banks have for the last two years or so changed their business approach - to open an account at a Swiss bank in Switzerland you must have a Swiss residency permit, otherwise you will be referred to the Swiss branch office in your home country.  In practice this means that most small customers are gone and the main business within Switzerland results from high net wealth clients, financial institutions and governments, not the odd German depositing 50K!

On top of this, the German tax authorities have been very active in tracking down German tax dodgers, to the point that they have even bought CDs containing client banking details from Swiss bank employees!  This data they have happily shared with other EU governments and of course used it to go after German citizens.

The figures for UBS and CS will be out in early Feb., together with the SNB (Swiss National Bank) report and I will give you an update on it then.

Jim (in Switzerland for 20+ years)


----------



## centrewest

regards,
CW


----------



## centrewest

*response from Deutsche Bank*

Hi, 
i just got the same email response from DB as a number of previous posters in this thread, an adviser directs me to the same online registeration form all the other posters have received.




any help or reply anyone can give me would be greatly appreciated, i will let you know how i get on 

firstly i don't have a postcode, i've entered IE & IEIE, but "please review postcode" keeps coming up, how do i bypass this or what would should i enter, i've tried Dublin postcodes, ie D7 etc but that doesn't work either.
do you have to go to Germany to actually open the account.
a number of posters advise there is a minimum lodgement of €100,000, others say €50,000, their online registration process offers a choice of below €20,000 & over €20,000, what is the correct figure.
P,S keep up the good work, some of the posts / threads are excellent.

regards,
CW


----------



## UFC

Yeah when I was opening my account (in Germany) they were quite puzzled there is no post code where I live. We were able to get past that step though. I guess the online registration is just more strict.

You have to open the account in Germany. 

I was able to open the account with 5k (that is the minimum allowed opening balance on the account I opened). I opened their equivalent of a demand deposit.


----------



## 149oaks

I bypassed the code bit by simply entering a string of zero's.
Also after completing the online link I did get a phone call from a DB woman in Frankfurt. However she told me there was a min of 100k and it had to be invested in the markets with a 1% buy & sell commission. I didn't go any further as I have less than 100k and want it on deposit.


----------



## chewchew

I got the same reply as 149oaks. No deposit/savings account option, only investment and a 100k minimum.


----------



## UFC

Seriously, just go to Germany... you can do it all in a day and get it over with... the flights will cost you about €100 in total. It's just a little bit of money and a little bit of time for peace of mind and having the thing over and done with!


----------



## 149oaks

Ye but
- do you have to make an app't?
- what airports are DB in?
- what do you have to bring?
- what type of deposit a/c's are available?
- do you also have to open a current a/c to lodge/withdraw from the deposit?
- and if so what are the charges for having a current a/c?

I'd like to know all this before I hop over there.


----------



## 149oaks

Thanks Japester.
Was wondering why you are transferring bit by bit? Is there a system restriction? Do you know if I brought a draft with me would they open a Deposit A/C there and then as I'll have no need for a current a/c to withdraw for approx 2 years.
These are the type of questions I can't get DB to answer by mail - I want to do it and get it all done in a 1 day trip over.


----------



## japester

Hi 149oaks, I am not sure if they would accept a draft to be honest with you. You should definitely send them an email to find out that one. Have you no current account in Ireland to transfer the money from electronically, its much safer in my opinion and simple to do? I am confident that you should be able to have the account set up within an hour, provided that you have an appointment made in advance. I just walked into the branch on spec, not actually expecting to be dealt with there and then. I honestly thought that I would have to come back the following day, having made an appointment, but I was lucky that an account manager was available shortly after I arrived into the bank. Hope this helps.


----------



## japester

Sorry for not answering your first question. I am transferring bit by bit since I believe there is a 5k per day restriction when you are transferring online with AIB. Also, a lot of my funds are currently tied up in An Post and EBS and I'm waiting for the EBS account to mature (later this month) and my An Post funds to reach their 6 month maturity dates so that I don't lose accumulated interest. Hopefully things won't go south that quickly


----------



## Lightning

japester said:


> Sorry for not answering your first question. I am transferring bit by bit since I believe there is a 5k per day restriction when you are transferring online with AIB. Also, a lot of my funds are currently tied up in An Post and EBS and I'm waiting for the EBS account to mature (later this month) and my An Post funds to reach their 6 month maturity dates so that I don't lose accumulated interest. Hopefully things won't go south that quickly



AIB will allow you transfer more than 5,000 EUR per day out of AIB in their branch. 

It is worth remembering that EBS require a maturity instruction before maturity date or they will automatically roll your term deposit.


----------



## IsleOfMan

CiaranT said:


> It is worth remembering that EBS require a maturity instruction before maturity date or they will automatically roll your term deposit.


 
My understanding is that banks are required to write to you to remind you when a fixed term deposit account is maturing. I have noticed that my local EBS agent does not do this.


----------



## UFC

Warning about DE...

They have given me the wrong account number twice.

Thankfully my money has bounced back into my account, but it's worrying!


----------



## chewchew

Hi Godfather, 

That sounds great....some questions...

Did you open the account by mail? What was the procedure?
How did you navigate the website, do you have a german speaking friend or did you get in touch with an english speaking agent at DKB?
Is this a on demand deposit account, do you need to give any notice to withdraw?
Do you have to open a current account and a savings account, and what are the charges associated with that?


----------



## Odea

UFC said:


> Warning about DE...
> 
> They have given me the wrong account number twice.
> 
> Thankfully my money has bounced back into my account, but it's worrying!


 
Considering that you went to Germany to open this account, it is very worrying.  Other posters appear not to have received responses to emails etc.  I guess that you can get a**e holes working in German banks as well as Irish banks.


----------



## chewchew

Thanks godfather, seems relatively straight-forward. I'll give it a go next week


----------



## Godfather

Ok, then go for dkb as the great Dublintexas kindly explained to us with lots of information


----------



## Troy McClure

centrewest said:


> that i would have to show my passport etc. to the german embassy


 




Good luck with that. They wont do it for you. They say it's illegal under new German law. 

Could be the law of Inertia all be told... They are truly useless with such matters.


----------



## Godfather

DublinTexas said:


> DKB as Godfather can attest to, does not only require certified copies of document, they require a solicitor/notary public to fill out a form that confirms your identity. Maybe he can share how much he paid for that, but my undertanding is that DKB will refund that fee when you provide a receipt.



It depends on the solicitor. I paid only 10 Euro, some others can charge between 20 and 30 Euros. 



DublinTexas said:


> However if I understood my last conversation with DKB correctly (when I tried to change my plain visa card to a miles earning one) they might stop accepting non germans soon as they say, this account is aimed at germans living abroad.



Ahi! That hurts a lot!  I just got an email from them and tomorrow I'll call them... I'm crossing my fingers Luck can help me tomorrow...


----------



## Godfather

I got into call with dkb and they asked me a few questions on the reasons why I was opening the bank account. Thank God they were fine with my reasons (that I don't trust neither irish nor italian economy) and they accepted my application. They are processing within the next few weeks pending a couple more approvals. 

Guys, rush!!!


----------



## soy

Godfather, did you pro-actively call them, or is the call part of the application process?

Also, did you get a Notary or just a solicitor to verify your identity? The forms mention Notary but they are far more expensive than a Solicitor, so I was hoping to try just using a solicitor.


----------



## Godfather

soy said:


> Godfather, did you pro-actively call them, or is the call part of the application process?



3 working days after sending my documents to Berlin I got an email because they wanted to discuss with me why I want to move the money to their bank. They were asking me to call them back, so I did.



soy said:


> Also, did you get a Notary or just a solicitor to verify your identity? The forms mention Notary but they are far more expensive than a Solicitor, so I was hoping to try just using a solicitor.



Very good question! Sorry I sent the forms without even checking on the name or role  I think the guy was a solicitor (he was so kind in telling me 10 Euro for a signature from him, music for my ears  )


----------



## soy

thanks - must have been just a solicitor, Notary is a big deal and would want at least 50euro - so you would know if you used one


----------



## Godfather

I'll let you know how dkb is in my experience, I still haven't got any letter with account number yet.


----------



## ancuisle

I sent a request for information on how to open an account(basicially stating I am an Irish citizen and reside in Ireland and would like to get information on how to open a deposit account with DKB). I got the following back:



> Thank you for your enquiry.
> 
> Please accept our apologies that currently *any communication* with
> our bank can only be dealt with in German.
> 
> It is necessary, therefore, that you send your request again in
> german language so that we can process it. We apologize for
> any inconvenience this may cause you.
> 
> Thank you very much for your cooperation.
> 
> Sincerely
> 
> Deutsche Kreditbank AG
> Bereich Internetbank / FLES
> Telefon Inland: 01803 - 120 300
> (9 Ct./Min. aus dem dt. Festnetz, höchstens
> 42 Ct./Min. aus dt. Mobilfunknetzen)
> Telefon Ausland: + 49 30 - 330 234 44
> E-Mail: <Removed by poster> . Internet: <Removed by poster>


 
I'm guessing I need to translate/resend my request using Google translator?

Godfather did you send a request for information in English or German?


----------



## ancuisle

Sent my request in German(using Google translate), will let you know what happens...


----------



## Godfather

Yes always in German with DKB


----------



## Alfatronic

UFC said:


> My god DB are incompetent...
> 
> Their internet banking documentation they just sent me has a different account number.
> 
> So that's three different account numbers they have given me so far, and none of them work for bank transfers (DB rejects the transfers).



Did you get this sorted? I have been sent an account number by email but am reluctant to transfer money until I get a hard copy. How long did it take them to send your details by post?


----------



## UFC

Alfatronic said:


> Did you get this sorted? I have been sent an account number by email but am reluctant to transfer money until I get a hard copy. How long did it take them to send your details by post?



Nope, still not sorted. Transfers always get rejected by DB.

I never got my details by post. I got them in person in Berlin, and then subsequently confirmed/updated by e-mail.


----------



## SoylentGreen

The fear is that one of these days your transfer won't be bounced back because it has ended up in the account of someone else. Maybe send a tester €10 and until that has been received I wouldn't send anything larger.


----------



## WaterWater

michonlinejo said:


> Hi! I am a newbie here


 
To this country?


----------



## Godfather

SoylentGreen said:


> The fear is that one of these days your  transfer won't be bounced back because it has ended up in the account of  someone else. Maybe send a tester €10 and until that has been received I  wouldn't send anything larger.



I totally agree with this approach. So that you don't sleep badly if there is a typo somewhere and the money is lost somewhere in a limbo!


----------



## WaterWater

UFC said:


> Well they're ignoring my e-mails now. What a joke of a bank, can't even open a bank account properly...!


 
How much was your initial deposit and can you get this back? I'm beginning to wonder can anyone do their job right these days, anywhere.


----------



## alpine

Have to say my I had no issues with DB.  I opened the account and found them very efficient.  Transferred a test sum of money across, and then performed a test transfer back and everything worked fine.


----------



## Godfather

dkb still hasn't come back to me...  Did anyone manage to open an account with DKB?


----------



## WaterWater

DublinTexas said:


> I did but I speak German.


 
These German speakers might be able to help.

http://www.youtube.com/watch?v=kzolOc5VxL0


----------



## Dexysgirl

Is it the same in Germany as it is in France...when you open a new bank account in France you must make a French will.

Has anybody had experience with this??


----------



## chewchew

I filled out the application form at DKB but I was slightly unsure of some of the German!....Are the Maestro and Visa cards optional, or are they both mandatory?

What are the charges associated with the Maestro and Visa? 

Is there a current account as well as a savings account, and if so what are the charges associated with the current account?


----------



## horusd

> I filled out the application form at DKB but I was slightly unsure of some of the German!


 

When I was studying German years ago I used this online site for translation. Works reasonably well.

[broken link removed]


----------



## chewchew

Thanks Texas, that answered a lot of my questions....I don't have a word of German myself but I have a German friend who is helping out and google translate when she's not at hand, still it would be nice to be able to communicate with them myself.


----------



## damson

Great - thanks DublinTexas.


----------



## damson

Just looking through the forms at the moment. Any recommendations for someone to get them witnessed/notarised? I'm anticipating problems finding someone willing to put their signature to a document written in German without a lot of extra expense! Thanks.


----------



## DublinTexas

damson said:


> Just looking through the forms at the moment. Any recommendations for someone to get them witnessed/notarised? I'm anticipating problems finding someone willing to put their signature to a document written in German without a lot of extra expense!


 
The form requiring the notary/solicitors signature is in english and german, so there should be no problem with it.


----------



## damson

Thanks DublinTexas. Just see that on the last few pages now. (I'd only looked at the first few pages in German when I posted - should have waited!)


----------



## Rujib

Anybody think investing in a cash fund with the likes of Canada Life, is a simpler way of putting cash in a relatively safe place.
Ok, interest will be low, but getting cash in and out of the fund is a simple enough matter, and I guess the fund will be invested in a basket of currencies, consequently hedged against an Irish € implosion, or for that matter a total € implosion.
C Life is triple AAA rated, so would be fairly secure. 
PS: I have no connection with CL, but just seeking an opinion as to the logic of this route to put cash in a safe environment, for a short term at least.

R


----------



## UFC

Rujib said:


> C Life is triple AAA rated, so would be fairly secure.


 
The ratings agencies rated CDOs full of sub prime mortgages AAA as well as places like Iceland before the crash, so I wouldn't believe anything they say!


----------



## Godfather

Yes, I agree with UFC... Recently I watched the documentary "Inside Job": I recommend it for every cautious saver! Incredible movie! It shows how rating agencies are so corrupted with the subprime system! 

http://en.wikipedia.org/wiki/Inside_Job_(film)


----------



## Shakespeare

Hi Godfather and others
I've been following this for some time now and I'm delighted to see you got sorted in the end.
If you wouldn't mind it would be really useful to put together one definitive list of steps/things to do/documents you need/things to watch out for etc as over the last 10 pages there have been issues/complications/diversions etc and I'm getting increasingly concerned that I haven't got this sorted yet - would you be willing to put an idiot guide together on how to do this - where best to go etc
Also, If someone doesn't have any German or access to a German speaker, should this route be avoided.

On a futher aside - a friend of a friend opened a non-res account with Rabo in the Netherlands with apparently littel difficulty (though would involve a trip over there) - curious as to why no one seems to be mentioning the Netherlands? - Any thoughts?

Thanks for keeping this up to date.
S


----------



## Gervan

> On a futher aside - a friend of a friend opened a non-res account with  Rabo in the Netherlands with apparently littel difficulty (though would  involve a trip over there)



Shakespeare, I would prefer the Netherlands to Germany. Do you have any further details on this?


----------



## Godfather

On rabo in the Netherlands I would suggest that you open a new topic please as that would really really get my interest as well. 

On DKB what I can say is that I always used google translate in order to understand the various phases and it all looked so clear to me when I walked down the path. Also if you call DKB you can ask to speak with an english speaking rep... But having a german-speaking friend at hand in case they can only speak german could be very useful as one time I got stuck with a german-only speaking rep.


----------



## Shakespeare

Gervan/Godfather
I don't have the detail currently but I'm going to start chasing for info today and as soon as I have any information, I'll be back to share it.


----------



## Godfather

To DublinTexas please: on DKB I see no limit to the amount per transaction with the DKB card or am I wrong sorry? So does it mean that if I transfer 30K Euro into the credit card and my credit card gets stolen the money could potentially be spent in one unique transaction sorry? 

Thank you so much for your help in clarifying as I don't have much experience with positive balances on credit cards.


----------



## Godfather

DublinTexas said:


> But again, I don't think DKB will be too hapy if you use the card as savings account as they only make money when you use the card.



Oh dear, 1.65% was the reason why I am opening this... Let's see if they'll reject my account in time because I'm using it only as savings account. 

Thank you very much btw for the excellent explanation! So much appreciated!


----------



## soy

After recently filling out all the paperwork, I was got the letter telling me to call DKB. Unfortunatly I do not speak German (used google translate to do the forms) and did not have a German speaker with me. The guys on the phone had poor english and the call did not really get anywhere. I got a letter about a week later telling me that I could not open an account.

Moral of the story: make sure you have a German speaker with you.


I will probably just go to Germany now and open an account in person with DB


----------



## cobalt

Does anyone have any knowledge/experience of [broken link removed] in Cortal Consors/BNP Paribas, or views on the bank itself? Mentioned here in the context of non-resident German accounts: 





> Other banks offer better rates and can also be similarly opened as non resident, eg here's a very reputable one currently offering 2.1% (for first year), and they'll gladly take your money and handle the a/c for free with no minimum deposits necessary and full and immediate online access to your cash (Tagesgeld).


----------



## Godfather

cobalt said:


> Does anyone have any knowledge/experience of [broken link removed] in Cortal Consors/BNP Paribas, or views on the bank itself? Mentioned here in the context of non-resident German accounts:



Wow! It looks really really interesting! 

Thank you very much for indicating it here!!!

If I'll consider opening it I'll let you know for sure!


----------



## Godfather

cobalt said:


> Does anyone have any knowledge/experience of [broken link removed] in Cortal Consors/BNP Paribas, or views on the bank itself? Mentioned here in the context of non-resident German accounts:



Hi again Cobalt,

I called Cortal Consors and they need me to go to a german post office for the confirmation of ID, the solicitor's stamp isn't available as option as it was with DKB... 

I've no chance to fly to Germany at the moment...


----------



## DublinTexas

Godfather said:


> Hi again Cobalt,
> 
> I called Cortal Consors and they need me to go to a german post office for the confirmation of ID, the solicitor's stamp isn't available as option as it was with DKB...
> 
> I've no chance to fly to Germany at the moment...


 
Funny enough I also checked it out this morning, especially as their current account is offering a free visa card too that has no foreign currency conversion charge whatsover and hence is very interesting.

However they really only allow the identification in the post office as option, so unless you are willing to fly over to Germany to get it done this will not be an option.

Otherwise this is a great find, thanks cobalt.


----------



## cobalt

Thanks for the feedback guys. I hadn't got round to investigating it properly myself yet. Pity you can't open it remotely. A day trip to Germany is looking more and more inviting.


----------



## Godfather

DublinTexas said:


> If it's a state bank (like Sparkasse, Landesbank and their direct banking arms) you deposts are covered without any limit.



Hi DublinTexas, I'm thinking about moving more money from Italy to DKB as soon as my italian bonds will expire. As subsidiary of Bayerische Landesbank can I come to the conclusion that DKB's deposits are covered without any limit?  Thank you so much for your help on this!


----------



## Godfather

Thank you so much DublinTexas,

since Ludwig II is not investing anymore Bavarian's money into the dream-castle of Schloss Neuschwanstein (which I love so much btw  ) I trust very much the Bavarian government


----------



## SpaceOne

Godfather
I read that you successfully opened bank account at DKB and I was just wondering how long did it take, to get all cards and necessary papers to be able to fully use your account?


----------



## DublinTexas

If you got the DKB account you also might want to sign up for the [broken link removed]which gives you points for using your account.

You get for example 200 points per 1000€ average balance in a quarter on your cash account or 150 points per 1000€ average balance in a quarter on your Visa card and spending 1000€ in a quarter with the visa card gives you 150 points.

There is only limited redemption for people outside germany, but they have a partnership with Lufthansa so you can convert points into Miles & More.


----------



## Godfather

Thank you again very much DublinTexas!!! Your advice is like gold!


----------



## damson

Godfather said:


> Originally Posted by *DublinTexas*
> _But again, I don't think DKB will be too hapy if you use the card as savings account as they only make money when you use the card._
> 
> 
> 
> Oh dear, 1.65% was the reason why I am opening this... Let's see if they'll reject my account in time because I'm using it only as savings account.
Click to expand...

 
My plan is to use the DKB visa card instead of my regular Irish one for all credit card transactions, to give the DKB card some activity. I'll run it in parallel with my Irish visa for a while, but if there are no problems I see no reason not to then cancel my Irish one, saving the stamp duty.


----------



## Godfather

damson said:


> My plan is to use the DKB visa card instead of my regular Irish one for all credit card transactions, to give the DKB card some activity. I'll run it in parallel with my Irish visa for a while, but if there are no problems I see no reason not to then cancel my Irish one, saving the stamp duty.



That's a greeeeaaat point!!! DublinTexas, sorry: isn't there any stamp duty or tax on german credit cards at the moment? Thank you!


----------



## DublinTexas

Godfather said:


> That's a greeeeaaat point!!! DublinTexas, sorry: isn't there any stamp duty or tax on german credit cards at the moment? Thank you!


 
_You are joking, right? A tax on a credit card? Unheared off. What would be the purpose of such a tax?_

But seriously, no there is no tax or stamp duty on credit/debit cards in Germany.


----------



## davebrien

*Opening an aacount with Keytrade in Switzerland*

Hi,

I have followed this thread through - I want to ask why people are favouring a German account over Keytrade in Switzerand - they seem to only required stamped ID.

Also the CHF seems to have increased in value against the Euro? - if the worst was to happen would Swiss francs not be a safer bet than german based deposits.

Thanks,

DB


----------



## de_man

Switzerland is outside the EU and therefore interest earned would have to be declared here as income, and would be subject to income tax.


----------



## dec1892

interest would have to be declared, but the deposit would be surely safer in Switzerland than here in Ireland?

DB - which Swiss Bank are you using? Do you have the web link for it?


----------



## davebrien

Hi,  

I was going to use Keytrade [broken link removed]

I haven't actually gone beyond printing the forms yet.

Cheers,

DB


----------



## Godfather

dublintexas said:


> _you are joking, right? A tax on a credit card? Unheared off. What would be the purpose of such a tax?_
> 
> but seriously, no there is no tax or stamp duty on credit/debit cards in germany.



wow!!! 



davebrien said:


> Also the CHF seems to have increased in value  against the Euro? - if the worst was to happen would Swiss francs not be  a safer bet than german based deposits.



I am thinking of Italy as place to retire and the Italian Lira lost 7% overnight against the DM in the 90s... I don't want to lose that train again if that happens... Maybe the swiss franc would earn more against the lira, but that DM-chapter is still there in my mind...It's all a matter of perceptions in my opinion...


----------



## Godfather

SpaceOne said:


> Well, my story with DKB ended. They decline to open Cash account with them, because of their business policy.



Sorry they refused your request...


----------



## DublinTexas

SpaceOne said:


> Well, my story with DKB ended. They decline to open Cash account with them, because of their business policy.
> I actually sent request from Deutche post, thinking that would make any difference.
> 
> Is there any other bank that offers VISA (preferably debet card) for free including bank account and internet bank and accepts international users?


 
Very sorry to hear that, maybe they got overwelmed with the amount of non germans for this account.

You can try [broken link removed] which however means you need to make a trip to a German Post office to get your id verified, there is no other way than traveling to a German Post office to get this account started.


----------



## davebrien

*Swiss franc*

The Swiss franc was at 1.60 chf to the euro in 2008 its now at 1.29 is it likely to reach parity with the euro. any opinions there about converting money in CHF?


----------



## Mystic Oil

SpaceOne said:


> Well, my story with DKB ended. They decline to open Cash account with them, because of their business policy.
> I actually sent request from Deutche post, thinking that would make any difference.
> 
> Is there any other bank that offers VISA (preferably debet card) for free including bank account and internet bank and accepts international users?




Wirecard.de

Not completely free (they charge €25 for a physical Visa/Mastercard debit card - virtual one is free) but you can open an account online. They will accept a copy of your ID (passport etc.) if stamped by your local Garda station.

The internet banking facilities are very basic - you can accept payment from any source (e.g. salary payments), but they will only allow you to transfer money to another account registered to your name (German money laundering rules, apparently). You can use the card to make any payments, of course.


----------



## TomOC

DublinTexas said:


> I am not working for DKB and any opinion I have is based on my own experience and the T&C of DKB.
> 
> The card carrier should have noted a "Verfügungsrahmen" which is your credit limit (if you got one).
> 
> In addition to your credit limit you can also do transactions that take your "Guthaben" (or credit balance) into account.
> 
> According to the T&C you are liable for 50€ damage for transactions that are made on the card before you notify the bank of the theft / compromise of the card. Once you notify them you are not liable anymore.
> 
> This is if you were doing everything right with your card, if you however did things like note the PIN on the Card, participated in the theft and other careless actions than your are fully liable.
> 
> If you have a credit on the card and your cancel the card DKB will transfer your credit over to your new card.
> 
> Now if there is a fraudulent charge on your card the bank will revert it and there is no difference if the card was in credit or debit. As long you have taken care of your duty of care with the card the bank will simply revert the transaction. There are time frames in which you must notify the bank of unauthorised charges.
> 
> But note you must inform your bank asap if there is something wrong and if your card is stolen/compromised you must inform the local police. They need a police report for stolen cards.
> 
> German bank T&C does not make a difference between a card in credit or debit, both are protected the same.
> 
> But again, I don't think DKB will be too hapy if you use the card as savings account as they only make money when you use the card.




Guys thanks for this great information.  I am currently in Germany (on way home from holidays).  Following reading on internet the past few days I plan to visit DKB to open an account. I have leaving cert German from 9 years back which is about ok, hopefully this will be sufficient.  Ideally I would hope to use the visa account as my main visa account (instead of my current TSB A/c- later close this a/c) and probably keep my BOI current account open unless they start charging me fees.  
I have two main queries though. Firstly I have searched the dkb website but cannot find the terms and conditions mentioned above Dublin Texas.  Could you give a link if on the website?
I have many questions to ask when I visit the branch today, particularly for guarantee in relation to money on credit on visa account if card lost/ stolen as detailed above.  Am I correct that in Ireland credit card accounts have a lower guarantee for money on credit on your visa account than for negative balances?  Also I will be querying in relation to guarantees for non resident accounts.  Thanks


----------



## cork

Would purchasing German Govt bonds be a good alternative?

What is the cheapest way to purchase these for somebody who has no German?


----------



## TomOC

TomOC said:


> Guys thanks for this great information.  I am currently in Germany (on way home from holidays).  Following reading on internet the past few days I plan to visit DKB to open an account. I have leaving cert German from 9 years back which is about ok, hopefully this will be sufficient.  Ideally I would hope to use the visa account as my main visa account (instead of my current TSB A/c- later close this a/c) and probably keep my BOI current account open unless they start charging me fees.
> I have two main queries though. Firstly I have searched the dkb website but cannot find the terms and conditions mentioned above Dublin Texas.  Could you give a link if on the website?
> I have many questions to ask when I visit the branch today, particularly for guarantee in relation to money on credit on visa account if card lost/ stolen as detailed above.  Am I correct that in Ireland credit card accounts have a lower guarantee for money on credit on your visa account than for negative balances?  Also I will be querying in relation to guarantees for non resident accounts.  Thanks



When i tried it was not possible to open this account (DKB) at the branch in Berlin.  I was told opening had to be completed in German and given I hadn't fluent German I could not open it.  They were very surprised at the branch that it was possible to open this account by post as a non resident.  I may try it it by post later.


----------



## Godfather

Has anyone opened an account here?
https://www.1822direkt.com/1822central/cms/zinscash.jsp

It looks really great...


----------



## Persius

I tried to open an account with 1822direkt, but they turned me down. They gave no reason, just a standard rejection letter. But I suspect it was because I hadn't been a German resident in the previous three years.

I did manage to open an account with DKB. They rang me to ask me why I wanted to open the account. I am able to speak German and they were satisfied with my explanation. But I got the impression that if you asked them to speak English, they may well turn down your application.


----------



## djj

Seriously looking at opening a German A/C. Assuming I manage to open one, might I ask a very basic question? 

God forbid Ireland goes under, is there any risk of Revenue/IMF coming looking for my overseas's account? Thanks.


----------



## Chris

djj said:


> Seriously looking at opening a German A/C. Assuming I manage to open one, might I ask a very basic question?
> 
> God forbid Ireland goes under, is there any risk of Revenue/IMF coming looking for my overseas's account? Thanks.



They would have to get an international court order to freeze/confiscate your assets. As far as I am aware such a court order can only be obtained or enforced if the money is proven to be the proceeds of criminal or terrorist activity. One of the reasons why Switzerland "ignores" court orders for information on accounts used in tax evasion is because tax evasion is not classed a crime in Switzerland.
Unless you have very large amounts of money with very large amounts of interest income I think it will be next to impossible for Revenue to get at the money.


----------



## Redisland

Have been following this and similar threads for several weeks now and have decided it would be wise to move my savings to a more secure location given the talk of possible default or leaving Euro. I intend to open an account in Germany. Have booked cheap flights (€95) and 1 night hotel (€65) in Berlin and made an appointment with a Deutsche bank branch near the hotel. Small price to pay for peace of mind. They were very helpful on the phone. All I require is passport and proof of address to open deposit account. Going at end of month. Will let you know how I fare.


----------



## Redisland

Martinaann said:


> let me know your hotel name as I am going to do the same later in the month.....thanks and safe deposit


 
Hotel Gat Point Charlie located in Mitte and close to Friedrichstrasse branch of DB. Booked on hotels.com. Checked tripadvisor reviews etc and looks decent enough for the money.


----------



## Godfather

Redisland said:


> made an appointment with a Deutsche bank branch near the hotel



Try also DKB... They are free of charge while DB charges you quite a few fees...



Martinaann said:


> seems a sensible move when you see the finance minister is using Germany for his savings.....



Really??? Noonan moving his savings to Germany? 



Martinaann said:


> the Labour leader has been found out with the wikki-wikki leaks



What happened sorry? I missed that...


----------



## Knuttell

Godfather said:


> Really??? Noonan moving his savings to Germany?



Think I read that he ploughed his ducats into German Bonds paying interest at less than 4%?


----------



## monagt

Noonan German Bonds link:

http://www.endakenny.com/?p=184


----------



## Knuttell

> Mr Noonan, who has opposed “burning” bondholders in the main Irish  banks, owns German government bonds paying a modest 1.75 per cent rate  of interest and maturing in* 2020*, according to his entry in the  register.



Noonan is 68,thats a long wait for someone who will be 77 when they mature.
Completely overlooking the fact that he is cute enough not to leave his money in Irish banks this strikes me as a conflict of interest.


----------



## Godfather

Sad that these news came into light... Exactly when Ireland needs a boost of trust from its own politicians... 

Certainly I can't talk too much on this, with our italian prime minister who apparently went to bed with a less than 18 years old girl... 

My God... Weird times...


----------



## Persius

Godfather said:


> Well done Persius with DKB!
> 
> I'm going to fly to Germany within the next 4 weeks and I've in plan to apply for 3 accounts along this list just to diversify:
> http://www.finanzen-informationsportal.de/bankkonten/tagesgeldkonten-vergleich.php
> 
> I already managed to previously open an account with DKB.
> 
> I'll let you know once I've clearer news... Give me some time... Thanks


 
From that list I contacted Volkswagen Bank via email. They told me they will open a Tagesgeldkonto for non residents so long as they have a German Girokonto. 2.2% interest isn't too bad, but I don't know anything more about the bank. If I'm sent over there again for work, I think I'll try to open an account with them as I have my DKB Girokonto already.

Let us know how you get on.


----------



## Godfather

Hi Persius, I'll try to apply at same time (a bit of money in each account) for 1822direkt, comdirect, VW Bank, Cortal Consors and Sparkasse Broker and they all need a Girokonto as base account (and I'm with DKB already). I'll let you know but I'll have a fly to Germany in a few weeks (so busy!)...


----------



## Godfather

Hi Yorky, if you go reading all this entire thread you can see that some people managed to get an account opened here with Deutsche Bank and some other (like me) was lucky enough to open an account with DKB remotely. Happy reading!


----------



## Modestus2416

*Modestus2416*

Burmo 
I was very interested to hear what you have to say about your experience with DB in Hamburg.Can you confirm again that are able to get your funds sent back to Ireland without having to use the current account -is it done by internet banking .ie did the give you a Pin No etc or are the monies sent back by the bank electronically to your Irish Account at your request over the phone -do you still have to keep open the current account and instant access savings account ?


----------



## Modestus2416

Godfather 
I find it hard to believe that DKB will only open an account for Irish people unless they speak German-would they not be losing a lot of potential business ?
Did you manage to make contact with someone in DKB who was willing to speak English with you ?


----------



## Godfather

Modestus2416 said:


> Godfather
> I find it hard to believe that DKB will only open an account for Irish people unless they speak German-would they not be losing a lot of potential business ?



Excellent point. I've just removed the comment "but I can speak good German" from my last post. But some managed to open the account with DKB, some others didn't so you better "sell your application form" well with them! 



Modestus2416 said:


> Did you manage to make contact with someone in DKB who was willing to speak English with you ?



Yes, from time to time I managed to talk with some customer service representatives who could speak a good english, but the one that called me back to investigate on my application form could only speak in German and I managed to convince him that I couldn't trust anymore neither the italian nor the irish economy... Thank God I passed the exam...


----------



## Godfather

Hi everyone, I went to a german post office and did put requests for savings accounts with:
- 1822direkt
- comdirect
- VW Bank
- Sparkasse Broker
- Cortal Consors

...which are listed in this link:
http://www.finanzen-informationsportal.de/bankkonten/tagesgeldkonten-vergleich.php

All of them need a German Girokonto as base for withdrawals: I've one with DKB.de

My German was very basic (just a few sentences prepared in anticipation) but the post office did my "Postident" with no problem.

Now: will they accept my application forms? Time will tell...


----------



## Modestus2416

Burmo 
How is the withdrawl process you outlined going with Deutsche Bank -any difficulties or advice


----------



## Modestus2416

UFC 
Are the transfers to DB working properly now over the internet-did you open the account in DB in person in Germany or was it through the internet /post/phone?


----------



## Modestus2416

Godfather 
Did you eventually open an account with DB or have you just stuck with DKB?


----------



## Modestus2416

Alpine 
Are your transfers going smooth with DB-did you open a term deposit account with them and what is the penalty if you transfer money back to your Irish account or did they insist you have a current account as well to withdraw?


----------



## Modestus2416

You have to travel to DB in germany and open a deposit account with minimum of €100,000-did you follow up on it ?


----------



## Modestus2416

Japester 
I am opening account with DB in person next week -I see you intend opening the term account with interest rate of 2%-my question is can you electronically withdraw from this account over the internet and is there a big penalty -do you need to have the term acct open for a certain period before you can withdraw and is there a limit on the amount you can withdraw?


----------



## Modestus2416

149 Oaks surely this is not correct -you are entitled to open a €100,000 demand deposit account and you are not required to invest it -can you cllarify this ?


----------



## Modestus2416

*Deutsche Bank Deposit Accounts*

There appears to be a bit of confusion-DB require a mimum of €100000 to open a savings account -several posters have been told that this €100,000 has to be invested and cannot remain in a deposit account -numerous other posters say they had no problem in opening a savings,current or term deposit account -what is the correct position?


----------



## Modestus2416

Savvy Row 
Is it not possible to use the internet to withdraw on the €100,000 DB account once it has been opened?


----------



## Godfather

Modestus2416 said:


> Godfather
> Did you eventually open an account with DB or have you just stuck with DKB?



I prefer DKB because they don't charge the fees that DB charges... 

So I stick with DKB and I'm not going to DB at the moment.


----------



## oldnick

It's odd how many Germans are worrying and doubling-checking their own banks' exposure to a Greek (and possibly Ir/Port default) at the same time as Irish posters here are considering putting their money into those same German banks.
(Look especially at DB's exposure.)

-same for French banks.

Mind you, most experts agree that the big German and French banks could withstand a default.
Probably.


----------



## japester

@ Modestus, I have opened an account with DB since and I have both a regular account (current a/c) and a savings account - they advised me that this was the only way to go at the time - there is a quarterly charge for having the regular account though (I think its something like EUR5 per quarter) but a small price to pay for what I consider greater security than the Irish banks (I hope!). I haven't attempted to make any withdrawal to date but I do believe that the reason for the regular account is so that Internet withdrawals can be made (they don't seem to be directly possible from a savings account but I could be wrong). I am currently getting a 2% interest rate on the money (70k) in the savings account - I think (could be wrong) that there is an upper limit of 100k for a savings account (could be a non-resident limit). I have received statements etc from the branch since and have emailed them several times and they are extremely professional and prompt in all my dealings with them. For me its just a security thing - I'm not interested in the interest rates per se, just that the money is in a relatively safe place, which I didn't feel I was getting in the Irish system.


----------



## 149oaks

Thats what the gal told me when she called.


----------



## Modestus2416

Japester 
Thanks for your advice -I am going ahead with DB deposit as I feel if euro falls the last line of defence is the German Banks -I wonder is there a big penalty if you withdraw for 2% term account -keep me posted on your experience -I will advise if get any new information


----------



## Modestus2416

Redisland 
Any up to date info on DB?


----------



## ronn

I found the DKB website in May and applied online then went to a bank to have copy of my passport certified as true copy. No Einkommensnachweiss, no employment contract, no bank statements, no proof of income, etc. I have never been to Germany and I'm not German (I'm Asian and work as a pilot for an African charter company).

My bank then sent the form and copy of my passport directly to Berlin via DHL, cost of which was deducted from my account. It's been with DKB for nearly three weeks and all I got from them was an acknowledgment email, confirming they have my application: 

_Ihre Unterlagen sind bei uns vollständig eingegangen und befinden
sich noch in Bearbeitung. Momentan verzeichnen wir jedoch in unserem
Team ein sehr hohes Aufkommen an DKB-Cash-Anträgen.

Deshalb verzögert sich die DKB-Cash-Eröffnung ein wenig. Sobald Ihr
Antrag bearbeitet wurde, werden wir unaufgefordert auf Sie zukommen._

Then today I received a call (very nice of them to call me here in Namibia!) informing me that my Cash-Konto application was successful and that they will send me my account documents and visa/maestro cards. 

To protect myself from all this identity theft problems, I subscribe to Experian and Transunion credit reports, both of which notify me of any account activity in my name or whenever a credit account is opened or if anyone makes inquiries about my creditworthiness. I got one of those generic emails on Tuesday last week from Experian so i immediately checked my Experian account online and this is what i see on record -- 

File Query / Type Int / 0000040206 DKB D / Full Dosier Disclosure 20110614 13:22


I wonder what was disclosed...


----------



## Modestus2416

Japester 
Your information on DB is correct -you cannot withdraw from your term investment period unless you get certification that you need the money for a life saving operation -house purchase would not be acceptable -they do not have an interest penalty system for early withdrawal 
Also they have lower interest rates for other savings accounts but you must give at least 3 months notice before you can withdraw-with current account no interest but you can withdraw over the internet


----------



## divot

*German Accounts*

Ok folks so here's a bit of info in exchange (hopefully!) for a bit of info.

Background:  recently redundant, in joint possession of a 2006 fully healthy tiger-era mortgage that to date is perfectly serviced, and also possess an Irish pension (bye to some of that!).  In other words, I'm pretty well invested in the Irish euro area as it is, intend to stay here, service the mortgage, find new work, live happily ever after, etc.

However I'm looking at diversifying where my cash is, for a couple of reasons.  1 - Diversification always good, and I'm way behind.  2 - Euro having a tough time for sure, and I think it's not unlikely that it won't survive in it's current format medium-term (finances too divergent + politics too divergent to allow for sufficient financial convergence.  IMO only).  3 - I'm unconvinced of the strength of Irish banks, notwithstanding the fact this holds for foreign banks to an extent.  4 - Other reasons I won't post until my diversification is complete.

So for the above reasons, I want to spread my cash in 2 ways.  Firstly, outside Ireland in Euros.  My preference is Germany, because in the event of a Euro breakup, Germany is most likely to be in whatever the strongest and most currency-appreciative remnant fragment is.  Secondly, outside of Euros.

Based on info from AAM, I've already opened with KT in Switzerland.  So far, so brilliant - no charges to date, easy to transfer money across electronically after a bit of juggling.  I'm slightly confused by what currency they hold the money in, and haven't tried transferring money back, but working on that.

So I'm looking for someone to summarise the German account situation.  I understand a German bank might be shaky either if it all hits the fan, I'm just looking for a "relatively" stable German bank.  Been looking over the thread at DB vs DKB, and can't quite work it out.

I am happy to travel to Germany once to open the account, and do any verification I need to do (German post office, whatever) so long as it can be all done in one day.  I'm looking for in decreasing order of priority:

1 - Allows non-German residents to hold an account (obviously)
2 - Would be redenominated in a future German currency in the event of Ireland and Germany parting currency ways, even if the account holder is in Ireland.
3 - No-notice access.  If I need the cash back, I don't want to wait, nor penalised.
4 - Transfers in and out electronically, to/from my Irish bank.
5 - No, or very low, charges.
6 - Interest would be handy enough, but it comes behind all the rest.

No stupid minimum balance.  I mean, it'll be in 4 figures, but it's not going to be 50K or 100K.

So - can anyone whose been through the DB and/or DKB process clarify if either of them meets my needs?  I can't figure it from the thread!

thanks, d


----------



## oldnick

-plus notary fees. So anything from 300-400 euros depending on notary fees and whether you want current or deposit a/c
However  -may cost as much going to Germany with hotel etc

So, if time is short maybe  a reasonable price for the panic-striken to quickly get their money in a German bank. (actually the bank in question HPV is part of a bigger group Unicredit  ,Italian based. Whether that should worry anyone I'm unsure)

Can't understand why HPV  office here in Dublin  or Unicredit , also with an office here, doesn't have a facility for Irish customers to open an a/c in an overseas branch.

At least HPV doesn't mess around with foreign exposure (Greek or otherwise) unlike some of the bigger German banks.


----------



## macau

I work in the forex investment market here in Macau and Hong Kong. Banks here charge a fortune for all transactions so I decided to look for one in Europe that will reduce my costs. Plus I wanted to have an account maintained in Euros. I found the DKB and applied for a Cash-Konto with the help of a German friend of mine in Hong Kong. HSBC certified a copy of my passport. 

I had serious doubts of being approved as i have never stepped foot in Europe, let alone Germany, and have zero connections to Germany and zero credit history in Germany.

I just got this email (below). Please, can someone translate this for me. I can't reach my German friend as he is travelling overseas. Thanks!!!






Vielen Dank für Ihren Antrag.

Wir können Ihnen mitteilen, dass Ihr DKB-Cash eröffnet worden ist.

Eine separate Bestätigung und Ihre Kontonummer erhalten Sie in den nächsten Tagen per Post.

Wir haben Ihr Kreditkartenlimit auf EUR 1.000,00 angepasst. 

Die aktuelle Limithöhe entnehmen Sie bitte Ihrer monatlichen Kreditkartenabrechnung oder der Detailansicht im Internet-Banking. 

Voraussetzung für eine weitere Erhöhung ist der direkte Eingang Ihrer regelmäßigen Gehaltszahlungen auf einem Konto in unserem Hause. 

Für Rückfragen stehen wir Ihnen gern zur Verfügung.

Bitte ändern Sie die Betreffzeile beim Beantworten der E-Mail nicht! 
Mit freundlichen Grüßen

Ihr Team Cash International

Deutsche Kreditbank AG
Telefon Inland: 0 18 03/120 300
(9 Ct./Min. aus dem dt. Festnetz, höchstens
42 Ct./Min. aus dt. Mobilfunknetzen)
Telefon Ausland: + 49 30/33 02 34 44 
Fax 030 / 68 83 00 81 04

Deutsche Kreditbank AG
Vorsitzender des Aufsichtsrates: Jan-Christian Dreesen
Vorstand: Günther Troppmann (Vorsitzender), Rolf Mähliß, Dr. Patrick Wilden, Stefan Unterlandstättner
Sitz der Gesellschaft: Taubenstr. 7-9, 10117 Berlin
Deutsche Bundesbank Berlin Kto: 12030000 (=BLZ), SWIFT-BIC:BYLADEM1001
Handelsregister: Berlin-Charlottenburg (HRB 34165)


----------



## RedDevil

*German to English translation per Google Translate*



Thank you for your request.

We can tell you that your DKB-Cash has been opened.

A separate confirmation and your account number will be sent in the next few days by post.

We have adjusted your credit card limit to EUR 1.000,00.

The current height limit, please refer to your monthly credit card statement or the Details view in internet banking.

Requirement for a further increase is the direct input of your regular salary payments to an account in our home.

For further information please do not hesitate to disposal.

Please do not change the subject line when replying to the e-mail!
Sincerely,

Your team Cash International


----------



## monagt

After the default back to the Punt, the Gov could impose very high rates of tax (60%/70%) on money coming back into the country................to make it more equitable vis a vis those who kept their money in Ireland.


----------



## macau

RedDevil
Only the questionnaire pages and the identity certification page will need to be returned to the bank. You must take the identity certification page and your original passport with you to a bank. The bank must attest to the fact that the photocopy of your passport is a true and accurate reproduction of that passport and the person presenting the DKB account application is the same person represented on the passport.
Next, yes, after the passport is certified, that would be the last time you would see your DKB application form. The bank is not allowed to return it to you and must send the application form and identity certification form directly to Berlin. This is to prevent applicants from making changes to the documents after the bank certifies your identity. We use the same process here in Macau and Hong Kong (I work in the financial industry).

No proof of residence was attached to my DKB application, but you would need to bring one with you when you approach the bank. The bank certifies on the identity certification form that your proof of residence and passport were sighted by them. That certification constitutes proof of address.

Proof of salary or source of income might help influence the outcome of your application. I didn't attach any to mine. I guess they make inquiries via credit reporting agencies.

No advance cash transfers will be accepted as you first need to wait for the bank's decision.


----------



## Godfather

monagt said:


> After the default back to the Punt, the Gov could impose very high rates of tax (60%/70%) on money coming back into the country................to make it more equitable vis a vis those who kept their money in Ireland.



Yes, there can also be a 3rd world war...             

All hypothesis of course...


----------



## monagt

Godfather said:


> Yes, there can also be a 3rd world war...
> 
> All hypothesis of course...



Sure, Lehmans will never collapse, FF will always be the biggest party, bank shares are as safe as houses, put your money into property (land) and you can't go wrong, Ireland can't go back to 2001, pensions will never be cut, private pensions will never be stolen....

Everything is on the table, up for grabs, its survival of the state........ tax deposits in Ireland @ 15%, tax foreign deposits @ 75%................


----------



## swervedriver

monagt said:


> Sure, Lehmans will never collapse, FF will always be the biggest party, bank shares are as safe as houses, put your money into property (land) and you can't go wrong, Ireland can't go back to 2001, pensions will never be cut, private pensions will never be stolen....
> 
> Everything is on the table, up for grabs, its survival of the state........ tax deposits in Ireland @ 15%, tax foreign deposits @ 75%................



Monagt - interesting point, but do you not think the State would *need* foreign currency in that situation and it would be counter productive to put a tarriff on it? I could see them stopping currency going the other way, but not so much in. Could be wrong though.


----------



## Godfather

monagt said:


> Sure, Lehmans will never collapse, FF will always be the biggest party, bank shares are as safe as houses, put your money into property (land) and you can't go wrong, Ireland can't go back to 2001, pensions will never be cut, private pensions will never be stolen....
> 
> Everything is on the table, up for grabs, its survival of the state........ tax deposits in Ireland @ 15%, tax foreign deposits @ 75%................



I'm sorry for the sarcasm in my previous post but I found it very counter-productive to impose tax on foreign capitals... Sorry I really don't understand the rationality unless Ireland wants to completely isolate from the rest of the world and then that rule would allow a few loyal people to the country to stay here and govern themselves how they want forgetting about any need to import anything or about any need to have non irish people here... 




horusd said:


> Will do Godfather, I applied for the same account, and will include a cover letter by way of explanation.
> 
> I don't want the credit card they are offering at all, just the savings account. I assume electronic transfers back & forth are easy enough ?



Sorry why not? I don't use the credit card at all as a mean of payment but it allows me 1.65% interest and that's credited every month... It's just beautiful... Yes transfers back and forth are absolutely very easy with BIC-code and IBAN.



horusd said:


> If you (or anyone else) has opened this, have you got iban details etc ?



Yes


----------



## horusd

Just got the application from DKB, about 10 pages of German... Mark Twain was right, German looks like a mountain range across a page!  I will attempt to fill it in with my trusty Google translate at my side. Thanks for the responses Godfather.


----------



## Godfather

horusd said:


> Just got the application from DKB, about 10 pages of German... Mark Twain was right, German looks like a mountain range across a page!  I will attempt to fill it in with my trusty Google translate at my side. Thanks for the responses Godfather.



You're welcome, glad I can help where I can... In my case I could also make an offer they couldn't refuse but I never got to that option...  They were nice and friendly but beware of the credit-check call you might get after lodging the application in which they'll ask you how much you want to transfer. That will be the moment of truth so have some kind sentences ready.


----------



## horusd

Godfather said:


> .... They were nice and friendly but beware of the *credit-check call you might get after lodging the application in which they'll ask you how much you want to transfer. That will be the moment of truth so have some kind sentences ready*.


 
Not sure what you mean by "kind sentences ready" GF? 

I posted off the form today. I got mine stamped by the bank, I asked them to post it, but the girl (rightly) pointed out that they wouldn't know who posted it! Reviewing back the DKB 's cover letter, the options are either by a notary or a bank. (Bei einer bank). 

I got her to complete a bank compliment slip and include bank addess etc and sent it myself. I also enclosed a copy of my passport and got the bank to stamp that too as a "true copy- original seen" stamp. I also sent original gas bill, visa & banks statements, phone bill and a payslip. Hopefully that covers all they need.


----------



## browtal

Hi Horusd,
Did you not pay a notary to aythenticate the passport and other documents? Was your bank a suitable substitute as I understand from your entry.
 I Find it all a bit confusing but eager to do transfer. Thanks Browtal


----------



## Gervan

Are there any company directors out there who have opened or tried to open an account in Germany ( where they are not trading) for their company?


----------



## Godfather

Gervan said:


> Are there any company directors out there who have opened or tried to open an account in Germany ( where they are not trading) for their company?



That's very confidential... 



georged3rd said:


> For those who opened a DKB account in person at a DKB branch in Germany with an English speaking DKB agent, did you also happen to have adequate conversational German? Or if you did not speak German did they ever hit a roadblock in your application because of this? E.g. did they not say you could not open an account because of their German-only correspondence rules?



I can speak a good german...


----------



## georged3rd

Godfather said:


> I can speak a good german...



Thanks Godfather, but I thought you opened your DKB via post rather than flying to Germany to open it at a DKB branch, no?


----------



## georged3rd

*DKB application form query*

For those that have posted a DKB Cash application form; 
The very last page of the printed application form contains the following; 


_A Deutsche Post logo._
_A note in German saying;Wichtig! Bitte nehme sie diesen Coupon und lassen Sie sich bei einer Postfiliale mit einem gultigen Personaluswies oder Reisepass identifizieren__ [ Which I've loosely translated online as: "Important! Please take this coupon and identify yourself at a postal branch with a valid passport". ]_
_A billing number (random) and a reference number (in the form of the name of the product being applied for). _
_Barcode einscannen (barcode scanning)_
_Postident Basic - Formular nutzen (use form or formal use?)_
_Formular an absender (form to sender?)_
_Barcode 
_
_Postident Basic logo._
I take it from the above that;
1. This section of the form needs to be cut out & needs to be placed on the outside of the envelope?
2. It does *not* constitute free postage?
3. That the _Wichtig! _section can safely be ignored in our case? 
Reason: I can't see a notary taking the time to bring their passport or ID with them to an Irish post office just to pop my envelope into a post box (I do realise they need to be the one to post it however)...or the necessity for it.....besides Irish post office staff would likely just laugh or ignore the notary & wonder what they're on about. 

Any thoughts on this part of the form from those who have posted it before?


----------



## horusd

georged3rd said:


> For those that have posted a DKB Cash application form;
> The very last page of the printed application form contains the following;
> 
> 
> _A Deutsche Post logo._
> _A note in German saying;Wichtig! Bitte nehme sie diesen Coupon und lassen Sie sich bei einer Postfiliale mit einem gultigen Personaluswies oder Reisepass identifizieren__ [ Which I've loosely translated online as: "Important! Please take this coupon and identify yourself at a postal branch with a valid passport". ]_
> _A billing number (random) and a reference number (in the form of the name of the product being applied for). _
> _Barcode einscannen (barcode scanning)_
> _Postident Basic - Formular nutzen (use form or formal use?)_
> _Formular an absender (form to sender?)_
> _Barcode _
> 
> _Postident Basic logo._
> I take it from the above that;
> 1. This section of the form needs to be cut out & needs to be placed on the outside of the envelope?
> 2. It does *not* constitute free postage?
> 3. That the _Wichtig! _section can safely be ignored in our case?
> Reason: I can't see a notary taking the time to bring their passport or ID with them to an Irish post office just to pop my envelope into a post box (I do realise they need to be the one to post it however)...or the necessity for it.....besides Irish post office staff would likely just laugh or ignore the notary & wonder what they're on about.
> 
> Any thoughts on this part of the form from those who have posted it before?


 
No it's not a free post stamp, and it only applies in Germany at Deutsche Post. You don't return this from Ireland.


----------



## georged3rd

horusd said:


> No it's not a free post stamp, and it only applies in Germany at Deutsche Post. You don't return this from Ireland.



Thanks Horusd.


----------



## Shakespeare

*Rabobank*

Hi all,
Some of you may remember I posted  few months ago about planning to open a Rabobank a/c in the Netherlands. Like many, I had assumed Germany first but to be honest, got scared off by the hassle some people appear to have had and (this may be an admission of stupidity but..) to be honest in spite of all the details provided my many helpful posts, I didnt feel confident that I wouldn't encounter problems and I have zero German!

A friend of a colleague gave me direct contact details for an english speaking supervisor in Rabobank whom I emailed and enquired about opening an account.
Truthfully, in short, it couldn't have been easier, he was extremely helpful, all I had to do was send a scanned copy of my passport over to begin with. He opened the account and then I arranged a trip over to complete the details.
All I had to bring with me was my passport and a bank statement for the account from which I will be transferring money. He opened a savings and current account, sent me the IBAN number the next day by email, and I'm currently waiting for my passcode to arrive by registered post. The details for transferring money online are in English on the Rabobank website and all I have  to do is call if I have a problem.
A thoroughly simple and stress free experience so far.

BTW, for those considering making the journey to Rotterdam (Rabobank Amsterdam no longer allow non-residents to open accounts), I took a 6am flight from Dublin, 2 short train rides (1 of 20 mins, 1 of 5mins) and a 5 minute walk to Rabobank and comfortably got the 3pm flight home. Tempting to try to get a 1pm flight home but  i'm glad I didn't go for it as it could have been quite tight and I didn't want to be under any pressure.

Hope that helps someone
I'll update once I've successfully completed my first transfer!!


----------



## Godfather

georged3rd said:


> Thanks Godfather, but I thought you opened your DKB via post rather than flying to Germany to open it at a DKB branch, no?



Yes but they called me a couple of times after lodging the application and I was ready to speak german while one of them wasn't ready to speak English...



georged3rd said:


> 1. This section of the form needs to be cut out & needs to be placed on the outside of the envelope?
> 2. It does *not* constitute free postage?
> 3. That the _Wichtig! _section can safely be ignored in our case?


You don't need to include unless you go to a german post office and send from there. Doesn't constitute free postage. Yes if you are not flying to Germany to get your ID checked by a german post office


----------



## seesaw

Godfather said:


> Sorry why not? I don't use the credit card at all as a mean of payment but it allows me 1.65% interest and that's credited every month... It's just beautiful... Yes transfers back and forth are absolutely very easy with BIC-code and IBAN.


 Why? Do you need to apply for the card to get the 1.65%. If you don't need a credit card do you get less interest if you don't apply for it?


----------



## Mizen Head

Redisland. You seem to  have had the most straightforward experience of everything i've read so far.  Can you, please go back a step for my education.

Do you just phone the branch?  You say you want to open a Deposit Ac. You then make appointment, go to Berlin and Hey presto! What documents do I need to bring.

Thanks in advance for your help.


----------



## Godfather

seesaw said:


> Why? Do you need to apply for the card to get the 1.65%. If you don't need a credit card do you get less interest if you don't apply for it?



Yes, the c/a gives only 0.5%. The credit card 1.65% on positive balances


----------



## dec1892

Redisland said:


> So I have successfully opened an account at DB in Berlin. Flew there end of last month booked into hotel Gat Checkpoint Charlie and walked around the corner to the DB branch on Friedrichstrasse. This branch is a test branch and pretty amazing. Looks like a cafe/bar. There is actually a bar counter at the back. We were greeted and offered a coffee or drink while we waited. Our contact came to meet us and showed us a selection of differently designed meeting rooms to choose from. She was extremely friendly and professional. Bear in mind we were making a relatively small lodgement to some of the figures mentioned in this forum but still felt we received star treatment. A very different experinece to opening an account here. We don't speak German but she explained everything thoroughly.
> 
> So to the details: We opened 1 year 2% fixed rate account and also a seperate savings account called a Spar account. There is no monthly charge for this. She issued us with the account numbers for the Spar accounts on the spot and asked us to transfer the agreed amount of money for the fixed account in there when we arrived home. She would then transfer this into the fixed rate accounts for us. We opted for online banking and she gave us a demo. She explained that we could make as many additional transfers to the Spar account as required and could make withdrawals through a netwok of ATMs. Closest being Barclays UK. We cannot make withdrawals within the 1 year period from the fixed account unless we die or some very serious reason not just because we want the money back. If we want to withdraw the money at the end of the term we must notify them 3 months prior to year end to advise, otherwise the money is reinvested for another year automatically. We must advise them of an account to return the money. We now can also open more accounts with DB without returning to Germany.
> 
> So we arrived home. The only hitch occured when our contact emailed us to say she had given us the wrong account numbers for the Spar account. I had yet to make my transfer so was ok but my mother has already transferred and is waiting hers to return before making the correction. I was a bit anxious but checked our contact's email and the sort codes checked out with same branch so I made the transfer to new account number. I have received confirmation that my fixed account is now open and have received my ATM card and pin number but await my online banking details.
> 
> Will update you as to the result of my mother's arrangements once I hear anymore info.


 
Redisland - what is the rate of interest on the spar savings account you opened? 
I did a google search but couldnt find any info on the spar account - do you have a link I can look at?
Thanks


----------



## EOC74

The thing I have been wondering is how you established a contact with somebody in the bank? I am now in the 6th month of trying to open a simple account here with Ulster Bank and all this sounds too good to be true!


----------



## Jim2007

dec1892 said:


> Redisland - what is the rate of interest on the spar savings account you opened?
> I did a google search but couldnt find any info on the spar account - do you have a link I can look at?
> Thanks



You probably need to search for Sparkonto, the German world.

Jim (Switzerland)


----------



## Jiblet-run

I have emailed Rabobank in Rotterdam and tried to open an account with them explaining the same approach as detailed here.

However only people living in Holland with a Dutch social security number and with their salary being paid into the account are allowed to do so. So hitting a brick wall with Rabobank here 

@Shakespeare I would appreciate if you could please PM me your contact in Rabobank? Cheers.


----------



## vf949

I was all set to make an appointment with Deutsche Bank and book my flights over to Berlin and open an account but just thought I'd check out how they did in the European Banking Authority Stress Tests.

It seems they didn't do too well, they ranked 8 of the 12 German banks tested.

Should I be chosing one of the 7 that came ahead of it in this test? I had been thinking that even if Deutsche Bank did get into trouble at some stage that Germany would never let it fail but now I am beginning to wonder.

What should I do folks?


----------



## Lightning

@Shakespeare can you please post the contact details in this thread? If not, can please PM the details to me.


----------



## swervedriver

vf949 said:


> I was all set to make an appointment with Deutsche Bank and book my flights over to Berlin and open an account but just thought I'd check out how they did in the European Banking Authority Stress Tests.
> 
> It seems they didn't do too well, they ranked 8 of the 12 German banks tested.
> 
> Should I be chosing one of the 7 that came ahead of it in this test? I had been thinking that even if Deutsche Bank did get into trouble at some stage that Germany would never let it fail but now I am beginning to wonder.
> 
> What should I do folks?



Obviously that stress test didn't include the event of a possible soverign default (afaik).

This seems to be good information on the exposure of various banks (unfortunately not DKB or DB as far as I can see) and countries to the situation in Greece: ht tp://ww w.guar dian.c o.u k/news/datablog/2011/jun/17/greece-debt-crisis-bank-exposed. Would be very interested to see similiar data on exposure to Spanish debt.


----------



## chewchew

I'd love to get those contact details too, Shakespeare.


----------



## Godfather

Hi all, just to specify please: when I was referring to 0.5% interest on C/A and 1.65% interest on positive balances on credit card with DKB, the account-solution I was referring to was the DKB-Cash... Just to make sure please...


----------



## horusd

Godfather as a matter of interest,  how long did you wait before you heard back from DKB? I posted everything a week and a half ago, and heard nothing yet. So  much for German efficiency!


----------



## TomOC

georged3rd said:


> I don't want to waste my money, have it declined again & then have to pay for a flight to Berlin to open it in person (which looks like it might be my best option at this stage, time & money-wise).
> 
> For those who opened a DKB account in person at a DKB branch in Germany with an English speaking DKB agent, did you also happen to have adequate conversational German? Or if you did not speak German did they ever hit a roadblock in your application because of this? E.g. did they not say you could not open an account because of their German-only correspondence rules?



I tried to open a DKB account in person. There is only one branch in Berlin that I could find from the website.  I had basic German, leaving cert from 10 years back.  They told me they had to open purely through German not through English at all and that my German was not good enough for that and that they could not translate the questions for me during the application process.  They then told me to open by post but they assumed I needed a German address to do that.


----------



## georged3rd

TomOC said:


> I tried to open a DKB account in person. There is only one branch in Berlin that I could find from the website.  I had basic German, leaving cert from 10 years back.  They told me they had to open purely through German not through English at all and that my German was not good enough for that and that they could not translate the questions for me during the application process.  They then told me to open by post but they assumed I needed a German address to do that.



Thanks TomOC. I had the same experience when attempting to open an account with DKB via post, even with a German friend translating for me during the subsequent conversation with DKB over the phone.


----------



## Godfather

horusd said:


> Godfather as a matter of interest,  how long did you wait before you heard back from DKB? I posted everything a week and a half ago, and heard nothing yet. So  much for German efficiency!



I waited around 2 weeks. Anyway turnaround must be higher these days. You can also give them a shout with a few prepared sentences checking if they see your name on their DB showing the incoming applications...



TomOC said:


> I tried to open a DKB account in person. There is only one branch in Berlin that I could find from the website.  I had basic German, leaving cert from 10 years back.  They told me they had to open purely through German not through English at all and that my German was not good enough for that and that they could not translate the questions for me during the application process.  They then told me to open by post but they assumed I needed a German address to do that.





georged3rd said:


> Thanks TomOC. I had the same experience when attempting to open an account with DKB via post, even with a German friend translating for me during the subsequent conversation with DKB over the phone.



Sorry to read about such bad experiences... Yes I agree my german is helping me a lot... Also because I love speaking in German and each time I speak with those banks they appreciate my efforts as far as my experience is concerned... Also because they love the fact that I hate Berlusconi and his harem...


----------



## soy

I posted earlier in this thread about my problem with opening a DKB account. 

So instead I decided to try my luck with Dutch banks during a recent trip to The Netherlands. First branch of ABN-AMRO I visited said no after much discussion among themselves (I just think they could not get their head around the idea). I then tried ING and Rabobank, with no luck. All insisted I needed a Dutch address and a social security number or else an existing Dutch current account. 
Finally I went to a different branch of ABN, and this time was able to open the account. I told them I had seen their website and its mention of international customers, and I wanted to sign-up. We then went through an interview process where they asked why I wanted a Dutch account and what I intended to do with it.
Now have a current account and a savings account (2.5% interest). I could probably open accounts at the other banks now since I have a dutch current account.

I had no appointments and just walked in off the street. Everyone in The Netherlands speaks English so no communication issues, however all the documentation is in Dutch.


----------



## seesaw

Is there a list of German banks that are allowing accounts to be opened by post from Ireland? I know DKB appears to be one (communication is in German though), what are the other options?
For DKB I could use Google Translate and get it opened easily enough but not being able to call them up or understand communications from them is a potential stumbling block.
Getting the money to these banks is one thing, whats the position with withdrawing it?


----------



## OReilly

This thread has a wealth of information, has been very useful to me. I am planning on travelling to Berlin next month to open an account with Deutsche Bank. I have emailed them to confirm I will be able to open a non-res account and they got back to me with confirmation within 2 days. However from reading about other people's experiences, there seems to be issues with
1. Transferring money back to a ROI account via online banking? Has anyone successfully done this?
2. Several people complaining about wrong account numbers? Whats that all about? Surely a big bank like that would not consistenly give out wrong account numbers to transfer money into.

Unfortunately DKB is not really an option for me as I do not know anyone who speaks German, and frankly do not want to deal with having my money in a bank who I cannot communicate with myself.


----------



## georged3rd

OReilly said:


> This thread has a wealth of information, has been very useful to me. I am planning on travelling to Berlin next month to open an account with Deutsche Bank. I have emailed them to confirm I will be able to open a non-res account and they got back to me with confirmation within 2 days.



I was somewhat put off by the results of the recent European Bank stress tests which gave Deutsche Bank a poorer ranking than other big German & continental banks (due to their exposure to PIIGs debt) however they've slashed this exposure considerably of late. 

I also emailed Deutsche Bank but received a reply from a member in their Frankfurt branch requesting a €100,000 minimum deposit. My understanding from this thread is that their Berlin branch do not impose this minimum deposit condition. I would like to contact the Berlin branch directly to arrange an appointment. Does anyone have contact details for the Deutsche Bank Berlin branch?


----------



## Jim2007

dec1892 said:


> Below are the details for DB in Berlin - I have an appointment booked for next week. Everyone I spoke to had very good english - no metion of a min deposit of 100k was ever mentioned
> 
> Deutsche Bank
> Privat- und Geschäftskunden AG
> Q110 – Die Deutsche Bank
> der Zukunft
> Friedrichstraße 181
> 10117 Berlin
> Tel. +46 30 46 06 11 30



Check before you travel - The address you have given is for their private banking arm, and that usually has a high minimum deposit.

Jim.


----------



## dec1892

Jim2007 said:


> Check before you travel - The address you have given is for their private banking arm, and that usually has a high minimum deposit.
> 
> Jim.


 

I'll double check, but both Redisland and  Perplexed who posted earlier in this thread both opened a savings a/c at this branch (no mention of 100k min deposit)


----------



## georged3rd

Jim2007 said:


> Personally I would not be will to but a single €1 on deposit with DB....


Thanks. I was considering Rabobank in the Netherlands as an alternative to DB.  It ranked better in the bank stress tests than DB IIRC. I haven't heard much (negative or otherwise) about the state of the Dutch economy of late. What are people's opinions of the Netherlands as regards prospects for recovery given a potential two tier Euro, say in comparison to Germany? I realise this is speculation but...thoughts welcome.


----------



## Shakespeare

Edited to delete article - actually over 1 yr old


----------



## dec1892

smash said:


> Opened an account at 13-15 unter den linden berlin no problem walked in off the street made an appointment for next day only needed passport .
> Staff were very helpful spent an hour with us recieved my pin about 10 days later.Have transferred funds both ways no problems



So they didn't impose the 100k minimum balance either??


----------



## smash

dec1892 said:


> So they didn't impose the 100k minimum balance either??


 Not at all dont i only wish i had 100k to spare


----------



## cork

georged3rd said:


> Thanks. I was considering Rabobank in the Netherlands as an alternative to DB.



I am considering them - I sent them a couple of enquirys but have yet to get a response.

They seem to be a well respcted bank.


----------



## centrewest

centrewest said:


> "We regret that we cannot assist you as far as the opening of an account with us is concerned.
> 
> We are offering investment solutions to our customers only and no standard banking. Account opening with us is possible from amounts of EUR 100,000 only.
> 
> We kindly ask you for your understanding in this matter and regret being unable to give you a more favourable reply.
> 
> Kind regards,
> Simone Wilhelm"
> 
> 
> Simone Wilhelm
> Teamleiterin Private Banking
> 
> Deutsche Bank Privat- und Geschäftskunden AG
> Roßmarkt 18, 60311 Frankfurt am Main, Germany
> Tel. +49(69)910-22339
> Fax +49(69)910-22487
> Email simone.wilhelm@db.com


 
FYI everyone, 
i posted this email i received from DB a few months ago, i've re-posted it in case its of any use to anyone
cw


----------



## Jim2007

centrewest said:


> FYI everyone,
> i posted this email i received from DB a few months ago, i've re-posted it in case its of any use to anyone
> cw



As I have already pointed out else where, the address shown on this letter indicates that you are dealing with DB's *Private Banking* group.  In Europe Private Banking is the name given to the services provided to high net worth clients and there is always a high minimum deposit required.  In fact this limit is actually very low, most Swiss banks have limits of between 3 and 4 million!  The reason that DB's limit is so low is because they have not been very successful at attracting private clients.

As far as I can see, the people who have opened accounts, were dealing with their *Retail Banking* group, which offers the normal banking services to clients who walk in of the street.

Jim (Switzerland)


----------



## browtal

*Opening a German Bank account speaking no German*

At this stage there is so much information about the various problems encountered.
Could anybody do a summing up to help these of us less informed.

1.  Is it possible to open DKB account speaking no German?
2.  If it is possible how does one manage the account not speaking the language.
3.  Is there a minimum amount one must invest.
4.  Is it necessary to open a current account too.
4.  How does one make withdrawals
5.  What rate of interest do they pay.
6.  Is travel to Germany necessary.
Would be very grateful if somebody would help    Regards Browtal


----------



## georged3rd

browtal said:


> 1.  Is it possible to open DKB account speaking no German?
> _No_
> 2.  If it is possible how does one manage the account not speaking the language.
> _n/a_
> 3.  Is there a minimum amount one must invest.
> _no_
> 4.  Is it necessary to open a current account too.
> _yes for transfers, I believe_
> 4.  How does one make withdrawals
> _online I believe_
> 5.  What rate of interest do they pay.
> _1.65% on current account, less on savings account_
> 6.  Is travel to Germany necessary.
> _no_


Answers in Italics above. Godfather or anyone else who has opened a DKB  account remotely (I couldn't) should be able to confirm if I'm right.


----------



## georged3rd

PVT said:


> I had no problem opening a savings account in euro with Deutsche Bank, Frankfurt this month.
> 
> I rang the Dublin office of DB, said what I wanted to do and the receptionist gave me the phone number of the bank assistant at the Frankfurt branch who deals with non-resident applicants for personal accounts. They emailed me the application form and related forms the next day. I got my signature witnessed and passport copied at DB Dublin, and 10 days later the account was opened.
> 
> It was as straightforward as dealing with a local bank. No need to travel or to speak German!!
> 
> The account I'm opening is a term deposit for 1 year a 2%. Max deposit is €100,000, don't know if there is a minimum, but if so it may be low.



PM sent requesting contact details of the person you spoke to in Frankfurt because I just phoned DB Dublin today, got the contact details also of a bank assistant at the Frankfurt branch who deals with non-resident applicants for personal accounts, phoned the contact and was told that the minimum deposit is €100,000, accounts must be opened in person & that they changed their policy a few weeks ago so that accounts cannot be opened remotely. 

I asked if these details were reflected somewhere on their website and the response was a no. They did say however that this is not a company-wide policy & different terms & conditions as regards minimum deposit & account opening procedure may differ per German DB branch (which reflects the experience of those who've opened accounts successfully with Berlin's branch). DB Dublin's staff didn't sound too impressed with this inconsistency of service/terms/conditions/procedures either. 

They initially stated that all of their products are equity based (i.e. with no guaranteed return of the  principle) but eventuallly confirmed that they offer a 6 month fixed term deposit at 1% and a 12 month fixed term deposit at 2%, €100,000 minimum deposit for both with anything over €100,000 earning 1.25%. No instant access accounts. They want long term business relationships. 

DB Dublin don't have contact details of an equivalent contact for non-resident applications in any of the other German DB branches though I managed to get a number elsewhere of an agent in DB in Under Den Linden who deals with new accounts & will give them a call tomorrow. 

Tbh based on what I've read about DB on this thread & my experience with their Frankfurt agent so far I don't even know if i would want my money with them. Nevertheless I'd like the option for diversification at least. I'll let you know if I get any further with it.


----------



## browtal

Thanks for your kindness in making it very clear georged 3rd and Godfather.  I am very clear now and will start making tracks.
I still believe that it is worth opening a Germany Bank account, as Germany will come out smiling in the end.
Thanks to all for information. Browtal


----------



## seesaw

Godfather said:


> Hi george3rd and browtal. I hope you're well. Here are my answers to browtal's questions.
> 
> 1. Is it possible to open DKB account speaking no German?
> ---> I heard of a couple of cases of account openings from english speaking only people but knowing some German raises a lot likelyhood of getting an account opened
> 2. If it is possible how does one manage the account not speaking the language.
> ---> a couple of times I asked to be called back by an operator speaking in English and they helped me (but don't rely on this because I was showing efforts with my mini-dictionary)
> 3. Is there a minimum amount one must invest.
> ---> I agree with george3rd: No
> 4. Is it necessary to open a current account too.
> ---> I agree with george3rd: yes for transfers
> 4. How does one make withdrawals
> ---> I agree with george3rd: online
> 5. What rate of interest do they pay.
> ---> My version is different than george3rd: 0.5% on c/a, 1.65% on positive credit card balances
> 6. Is travel to Germany necessary.
> ---> I agree with george3rd: No


 
But for DKB you need a German address right otherwise the online application is rejected.


----------



## serotoninsid

seesaw said:


> But for DKB you need a German address right otherwise the online application is rejected.


Others here will be better positioned to clarify for you - but that's not my understanding. I have the application form - but have failed to act on it just yet.

One question re. the current account.

How much more messing about is involved in getting this opened?  Can they both not be opened in the one hit?  Also, presumably there are fees attached to their current account?  A little bit off-putting that this is necessary - as really, there is no reason why it should be a necessity.


----------



## Godfather

seesaw said:


> But for DKB you need a German address right otherwise the online application is rejected.



No, my cover letter stating that I wanted that amount of money to sit with them as much as possible as I don't trust my bunga bunga prime minister convinced them even if my address is in Ireland. And my amount of money wasn't so big but my attempts to keep talking in German were huge and appreciated by DKB


----------



## seesaw

Thanks for the reply guys. Interesting. I applied online using Chrome translator, everything was filled in correctly to my knowledge. I didn't select the credit card and when I submitted the application, I was refused, I had thought it was because of my Irish address.


----------



## daheff

swervedriver said:


> Monagt - interesting point, but do you not think the State would *need* foreign currency in that situation and it would be counter productive to put a tarriff on it? I could see them stopping currency going the other way, but not so much in. Could be wrong though.


 

Is there not something about free movement of capital within the European Union (along with free movement of labour)? Would we not need to be leaving, not only the Euro, but also the EU to see any possibility of this happening?


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## Jiblet-run

Just back from Rotterdam after a visit to a Rabobank branch there. Current & Savings account opened now. Fee of 4.40 euro per quarter for current account. Got my IBAN this morning and will do a test transfer this evening from my current account. I was told there is a fee for doing an IBAN transfer from Rabo current account - something like 2 or 3 euros. 

The meeting was very straightforward - in and out in 15mins. Just needed my passport and a bank statement of my current account. Signed the contract (was in Dutch but I had translated it in advance of meeting) in the branch and got my Rabo code generator. Need to wait for my debit pass card which is used with the code generator (as well as functioning as a ATM card). I expect this by end of week and also will need to ring the branch to activate the account before I can log in.

Overall very pleased with the process.


----------



## serotoninsid

Jiblet-run said:


> I was told there is a fee for doing an IBAN transfer from Rabo current account - something like 2 or 3 euros.


Small beer perhaps...but this doesn't sound right.  Under SEPA, IBAN transfers can't cost anymore than that bank would charge for an 'incountry' a/c transfer (and I doubt very much they would charge €2-3 for this).  That may be the cost for an 'expedited' IBAN transfer.....


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## Jim2007

serotoninsid said:


> Small beer perhaps...but this doesn't sound right.  Under SEPA, IBAN transfers can't cost anymore than that bank would charge for an 'incountry' a/c transfer (and I doubt very much they would charge €2-3 for this).  That may be the cost for an 'expedited' IBAN transfer.....



From their website it seems a normal IBAN transaction is €0.30, which seems to be more or less the standard in Europe.

Jim.


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## serotoninsid

Jim2007 said:


> From their website it seems a normal IBAN transaction is €0.30, which seems to be more or less the standard in Europe.
> 
> Jim.


Yes, that sounds more like what it should be.


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## pascal12

georged3rd said:


> PM sent requesting contact details of the person you spoke to in Frankfurt because I just phoned DB Dublin today, got the contact details also of a bank assistant at the Frankfurt branch who deals with non-resident applicants for personal accounts, phoned the contact and was told that the minimum deposit is €100,000, accounts must be opened in person & that they changed their policy a few weeks ago so that accounts cannot be opened remotely.
> 
> I asked if these details were reflected somewhere on their website and the response was a no. They did say however that this is not a company-wide policy & different terms & conditions as regards minimum deposit & account opening procedure may differ per German DB branch (which reflects the experience of those who've opened accounts successfully with Berlin's branch). DB Dublin's staff didn't sound too impressed with this inconsistency of service/terms/conditions/procedures either.
> 
> They initially stated that all of their products are equity based (i.e. with no guaranteed return of the  principle) but eventuallly confirmed that they offer a 6 month fixed term deposit at 1% and a 12 month fixed term deposit at 2%, €100,000 minimum deposit for both with anything over €100,000 earning 1.25%. No instant access accounts. They want long term business relationships.
> 
> DB Dublin don't have contact details of an equivalent contact for non-resident applications in any of the other German DB branches though I managed to get a number elsewhere of an agent in DB in Under Den Linden who deals with new accounts & will give them a call tomorrow.
> 
> Tbh based on what I've read about DB on this thread & my experience with their Frankfurt agent so far I don't even know if i would want my money with them. Nevertheless I'd like the option for diversification at least. I'll let you know if I get any further with it.




I just rang  Deutsche Bank, Frankfurt was told I could open an account but had to come in person if they wanted the business this would not be required IMO so good luck to you if you managed to do the impossible


----------



## Jim2007

pascal12 said:


> I just rang  Deutsche Bank, Frankfurt was told I could open an account but had to come in person if they wanted the business this would not be required IMO so good luck to you if you managed to do the impossible



This is a standard requirement throughout Europe to prevent money laundering.  DB does not have much of a choice in this.

Jim


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## horusd

Sent off all the paperwork etc applying to DKB for an account and have heard nothing back at all. Not even the courtesy of a call. That's three months ago now. Anyone else have this problem? I suppose it could have got lost in the post, but I imagine they couldn't be bothered replying.


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## horusd

daheff said:


> Hi all
> 
> i found an ad for the below website (on the back of the Irish Times) this week
> 
> //germanbankaccount[dot]com
> 
> from what i can see they will open your account for you, for a fee of 200EUR (100 of which is for notarising documents). the bank they are using is HypoVereinsBank (HVB)
> 
> 
> have to stress that in no way am i advocating using these people! just that after following this thread (and planning to open an account next time i'm in Germany), I stumbled across their advert. thought i'd share with people


 

€200 for processing an application for the bank. Nice one for the people selling this service .


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## daheff

wonder what they'd say if you brought in the info already notarised? would they still charge the 200 or drop it to 100e?


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## seesaw

daheff said:


> wonder what they'd say if you brought in the info already notarised? would they still charge the 200 or drop it to 100e?


 
As I understand it, its 200 + 100 notary fee

See new Key Post


----------



## diablo73

From jillkerby.ie

"You should know that UniCredit, the Italian parent bank of  HypoVereinsbank was one of the banks, along with the giant Societe  Generale of France that the markets sold off heavily earlier this month  over concerns about the vast amounts of sovereign debt they are  carrying. Since the end of February, Unicredit’s share price has fallen  from about €2 to just 89 cent at time of writing, which reminds me of  the huge fall in bank shares prices that the Irish banks experienced  throughout 2007 and 2008."


----------



## Godfather

fuzzyfrog said:


> From jillkerby.ie
> 
> "You should know that UniCredit, the Italian parent bank of  HypoVereinsbank was one of the banks, along with the giant Societe  Generale of France that the markets sold off heavily earlier this month  over concerns about the vast amounts of sovereign debt they are  carrying. Since the end of February, Unicredit’s share price has fallen  from about €2 to just 89 cent at time of writing, which reminds me of  the huge fall in bank shares prices that the Irish banks experienced  throughout 2007 and 2008."



Yep, that's why a few months ago I moved my savings away from Unicredit and San Paolo IMI to Germany...


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## chewchew

Dublinstar said:


> Check this service out! Finally!
> There is no set-up fee at all and the bank has really competitive rates!
> 
> www(dot)germanbanking365(dot)com
> 
> What do you think?



Looks highly suspicious. No way on earth I'd enter my details on that website.


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## DublinTexas

Dublinstar said:


> Check this service out! Finally!
> There is no set-up fee at all and the bank has really competitive rates!
> 
> www(dot)germanbanking365(dot)com
> 
> What do you think?


 
But this is nothing else than someone who has a referal id for DKB.

If you click on the German Link to open you are getting re-directed to the DKB account opening form with a referal id, so no entering of info on their site.

Only if you choose to use the english process you are giving them data. I assume that what they than do is enter your info into the german form.

I could offer that service (speaking german) and than I would get paid for the referal or choose to get 15000 DKB Points for it.

But I agree with chewchew, I would not enter my information on the site, the site is new, the owner is someone in Germany (as per whois) and has very little information about him on the net. The irish address is a maildrop.

In addition the website is breaking german law as he has not the required impressum on it.

Nice idea but nothing else than a DKB account via some referal id.


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## kennyb3

Has anybody made a trip to Frankfurt to buy German government bunds (bonds)? any issues?


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## Jim2007

kennyb3 said:


> Has anybody made a trip to Frankfurt to buy German government bunds (bonds)? any issues?



Unless you are planning to attend a bond auction, I'm not sure I see a point to your trip...

Jim2007


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## 149oaks

Was involved in this discussion a while back but due to domestic reasons couldn't follow up. Now I can and wish to open a German Bank A/C. Have approx €40k to deposit with security from Euro breakup in mind so about 2% interest is fine. Time period 1yr+. I will travel over and back in 1 day so probably Munich/Frankfurt/Dusseldorf whichever is cheapest and convenient. I guess I'd need to set up an appointment first so any contact no's etc would be very helpful. I'm guessing I should bring passport, drivers licence, utility bills, Irish bank details, PPS no. Anything else I should take, do first or be aware of? I don't speak German but have been over there a few times so know I'll get by with English. Any help would be appreciated.


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## RabbitHutch

Would Dutch Banks not be in the top tier if a breakup occurred?


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## JohnC

They probably would but Rabobank doesnn't allow non resident account holders.


----------



## chewchew

JohnC said:


> They probably would but Rabobank doesnn't allow non resident account holders.



The Rotterdam branch does, but you have to visit in person.


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## JohnC

Thanks I'll give them a call - Although I had seen on other posts that they stopped


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## vf949

Jiblet-run said:


> Just back from Rotterdam after a visit to a Rabobank branch there. Current & Savings account opened now. Fee of 4.40 euro per quarter for current account. Got my IBAN this morning and will do a test transfer this evening from my current account. I was told there is a fee for doing an IBAN transfer from Rabo current account - something like 2 or 3 euros.
> 
> The meeting was very straightforward - in and out in 15mins. Just needed my passport and a bank statement of my current account. Signed the contract (was in Dutch but I had translated it in advance of meeting) in the branch and got my Rabo code generator. Need to wait for my debit pass card which is used with the code generator (as well as functioning as a ATM card). I expect this by end of week and also will need to ring the branch to activate the account before I can log in.
> 
> Overall very pleased with the process.




Where did you fly to/from ??

Do you consider Rabobank safer than the German Banks?


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## Jiblet-run

Thanks for the info oberon.

Looks like you had great success in Berlin.
I will start with Deutsche Bank and might look to open some of the others.


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## kennyb3

Cheers oberon,

Did you make an appointment with DB or just drop in?

Planning a trip mid dec


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## Jiblet-run

Flying to Frankfurt would be easier and cheaper for me.
Anyone know about opening an account there? 

@Oberon - How recently since you opened your account?
Are there monthly fees with you account?


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## nip102

*Us $*

Hi
On the same subject.

I have a US$ account with aib as I was being paid in dollars recently by work. 
I have been seriously transfering my euro into the dollar account as a precaution, due to possible 2 speed euro or punt nua.
Would it be imune to euro risk in an Irish bank in dollar account?


Regards and thanks for comments


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## Bigmc

Hi Guys,
Im traveling to Berlin to open account most likely with DB bank, im just wondering in the event of the euro breaking up eg. Germany havin Euros Ireland havin punts is there any chance the Irish Goverment could make the germans convert the money held in the german account back to Punts when it is bein withdrawn or will we be able to withdraw euros even we have a Irish address?


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## Troy McClure

Not all German banks seem safe and some more safe than others. Who are the least exposed German banks??


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## kennyb3

Anyone been into a branch in frankfurt? Or have a relevant e mail address? It's a nightmare trying to ring and sort out an appointment.


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## Jiblet-run

oberon said:


> I flew mid Oct Aer Lingus Dublin Berlin-Schonfeld 07.30 returned next eve Via Ryanair 19.05,  train 300m from airport €3 ea way into Friedrichstrausse station. I had a DKB account opened online in Sept, went to Deutsche Bank opened 12 month 2% account with a flexi acc linked for online use. Also opened with Berliner Sparkasse beside station, current acc €2 month but they deposited  €24 into it(yr free) when I was deposting 50k with them into 1.5% savings acc. When there I also got Postident done for VW(2.5%) and 1822Direkt (2.25%) I completed online, brought the forms with me. City bus tour recommended. PS I dont speak 10 words of German but managed quite easily in the Post Office and 2 banks.



Looks like I'll have to go with Berlin as Frankfurt Deutsche Bank will only deal with customers with 100K or more - and I aint that rich.
So I am arranging an appointment with DB on Unter Den Linden in a week's time or so.
As I'm over there - I might as well and try to open others.
I've dropped off a few emails in part German / part English - to Berliner Sparkasse, 1822Direkt and VW. I'm hoping that will deal with me in English.

Did you make appointments with any of these banks mentioned? Or did you just turn up at a branch - would you mind stating which branches you visited for these banks in Berlin - seeing as they dealt with you in English and opened your accounts here successfully.

Also interesting site here: [broken link removed]


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## kennyb3

Jiblet-run said:


> Looks like I'll have to go with Berlin as Frankfurt Deutsche Bank will only deal with customers with 100K or more - and I aint that rich.


 
Did you ring them?


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## Jiblet-run

kennyb3 said:


> Did you ring them?



My Dad who is traveling to Germany to do the same, rang them in Dublin.
+353 1 680 6000
http://www.ifsc.ie/company.aspx?idcategory=71&idcompany=1188

He initially asked could he open an account without traveling to Germany and go to the Dublin office instead (send documents by post). This was not possible so he was transferred to Frankfurt (as he requested this). 
But the Frankfurt branch although helpful stated that a min of 100K is required on deposit to open an account. At this point they mentioned that Berlin could be willing to help (for our needs - aka smaller deposits). He was given contact details and he rang them. They are willing to assist. So we are now arranging flights and have to get back to them to confirm an appointment.


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## oberon

I opened a DKB current account online through Google chrome which translates the webpage to English then printed off the documents and had to take them to a Notary who confirmed my identity and address charging me €50, it took approx 3 wks while DKB checked out all this and another 2 wks before I got my visa, bank card and TAN numbers for internet banking. After all this I was able to fill out online documents for 1822direkt and Volkswagen bank, you need a German current account number to fill in for these banks so as to facilitate transfers out through online banking, then you again print these forms which have barcodes for Postident and bring to a German Post office. Then I went to Berlin  to the Post office with my passport and bank statement for address confirmation. Other option would be to open German current account in person then apply online in Germany and print out forms for Postident while there in an internet Café.
Deutsche  Bank branch is opposite Zoologischer Garten Station and Beliner Sparkasse Branch is beside Friedrichstausse Station 2 stops away, I had no appointments made, just dropped in.


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## Jiblet-run

oberon said:


> I opened a DKB current account online through Google chrome which translates the webpage to English then printed off the documents and had to take them to a Notary who confirmed my identity and address charging me €50, it took approx 3 wks while DKB checked out all this and another 2 wks before I got my visa, bank card and TAN numbers for internet banking. After all this I was able to fill out online documents for 1822direkt and Volkswagen bank, you need a German current account number to fill in for these banks so as to facilitate transfers out through online banking, then you again print these forms which have barcodes for Postident and bring to a German Post office. Then I went to Berlin  to the Post office with my passport and bank statement for address confirmation. Other option would be to open German current account in person then apply online in Germany and print out forms for Postident while there in an internet Café.
> Deutsche  Bank branch is opposite Zoologischer Garten Station and Beliner Sparkasse Branch is beside Friedrichstausse Station 2 stops away, I had no appointments made, just dropped in.



Thanks for the info.

So if I understand you correctly:
1) DKB can be opened remotely without travel but requires a Notary and using google translate for German communication? You can find this on their site? Link?
2) 1822direkt and Volkswagen require a German current a/c when filling in the application online. Would you have the links to these forms please? Once you have these forms - you just turn up at the branches??? Or do you need appointments?
3) Postident - You arrive in person and present your passport and a bank statement - which is from one of the above banks that you've opened?
4) Beliner Sparkasse - You can just turn up at this branch? No appointment?
5) Deutsche Bank - I've an appointment made, so this should hopefully be straightforward.

Sorry for breaking it down to points - but as the flights are expensive and my time is limited - I'm going to try and maximise my efforts over there.


----------



## oberon

1. Correct can open from Ireland, but you need to download Google Chrome(use search engine, its an alternative browser, use instead of Internet Explorer which translates web pages as you open them). dkb.de (add www)
2.finanzen-informationsportal.de/bankkonten/tagesgeldkonten-vergleich.php (just add www at start). there is no branches you bring the printed barcoded forms to german post office, i.e. Postident
3. As above, with your passport and statement for id. 
4. correct, Marco is English speaking guy.


----------



## Troy McClure

Jiblet-run said:


> My Dad who is traveling to Germany to do the same, rang them in Dublin.
> +353 1 680 6000
> http://www.ifsc.ie/company.aspx?idcategory=71&idcompany=1188
> 
> He initially asked could he open an account without traveling to Germany and go to the Dublin office instead (send documents by post). This was not possible so he was transferred to Frankfurt (as he requested this).
> But the Frankfurt branch although helpful stated that a min of 100K is required on deposit to open an account. At this point they mentioned that Berlin could be willing to help (for our needs - aka smaller deposits). He was given contact details and he rang them. They are willing to assist. So we are now arranging flights and have to get back to them to confirm an appointment.


 
I thought I read it earlier in theis thread that this figure is for Private banking accounts or something like this and not Retail bank accounts. The fact he was put through from Dublin might explain this. Others seem to have opened accounts in DB Frankfurt with alot less. See posts 342 and 343 p18.


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## Jiblet-run

Yes it may be possible and the reason why. However at this stage I have an appointment with DB in Berlin and my flights are booked - so I will just go with this option. 

Did you manage to open any German accounts?


----------



## Jeepy

Hi Jiblet-run - Which DB bank branch in Berlin are you going to? 

To the general public, can you open a current account while in German. I see people saying that you need a current account to transfer money back out but I presume you can open a current account when you are there.

Thanks.


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## Jiblet-run

It's the one on Unter den Linden. That's the main street in Berlin, if you're not familiar with the city.


----------



## ElectronEng

Jiblet-run said:


> It's the one on Unter den Linden. That's the main street in Berlin, if you're not familiar with the city.



Do you have a contact name and/or email address for this branch?


----------



## 149oaks

Travelling to Germany shortly and may open bank account(s) when I'm there for my hard earned money. Security is what I'm after. Was thinking of using Deutch Bank. Anyone know how strong/risky they are? Currently have some savings in Keytrade in Belgium, are they even more risky both in terms of a Bank and the possible break up of the Euro? Thanks in advance.


----------



## kennyb3

149oaks said:


> Was thinking of using Deutch Bank.


 
One of the most interconnected banks in europe, leveraged to the hilt


----------



## Jiblet-run

kennyb3 said:


> One of the most interconnected banks in europe, leveraged to the hilt



Are you still planning to travel to Germany and open a Deutch Bank a/c?
Or what would you consider a safe bank?


----------



## kennyb3

sent you a PM


----------



## JohnC

If Deutsche Bank share price is falling - what does it indicate about confidence in that bank?


----------



## kennyb3

JohnC said:


> If Deutsche Bank share price is falling - what does it indicate about confidence in that bank?


 
Pricing in haircuts on debt


----------



## JohnC

Thanks - I take it this means the reducing share price is reflecting lower perceived value of the bank due to likely increased levels of bad debt.

I guess so.  - As one of the main German Banks it must be safe.


----------



## RabbitHutch

*Which bank*

I am travelling to Germany next week. 

Can someonrap lease advise me which bank to open an account with.


----------



## 149oaks

Thanks Guys for the replies, but I don't understand the code. So I guess what I'm asking is:
I don't want to take on FX risk but want to protect my Euros. I have an a/c with Keytrade in Belgium but I feel thats not much better than an Irish bank a/c if a breakup came. So I want to go to the strongest country - Germany. Now that I've zoned in on that bit what is the best option there?
I know I can open a DB a/c in 1 day but how strong/solid is it?
Are there stronger Bank Deposit options? I'm not too concerned about interest rate it's security I'm after.
Also how would I go about buying German Bunds as an alternative? Is it possible from here? Or could I do it in a day trip to Germany?


----------



## Carra

Can someone please tell me what happens if the euro currency disappears and if one has some savings in euro, am i correct in thinking that it will be converted into punt?
Carra.


----------



## kennyb3

seesaw said:


> word on the street is that in the event of a euro breakup accounts throughout the eurozone in euro belonging to a person with an Irish address would very likely be converted to punt nua. You can't escape this by staying in euros.



Its a possibility, but a small one id imagine unless you have real information to show otherwise?

Some bigger fish than us would likely have a lot to say about that


----------



## seesaw

kennyb3 said:


> Its a possibility, but a small one id imagine unless you have real information to show otherwise?
> 
> Some bigger fish than us would likely have a lot to say about that



There is no real information about anything these days, all this is unwritten, it's never happened before, anything and everything is possible, no one can give you a definite answer or know for sure. Just putting it out there that this may not be the safe bet people think it is.


----------



## e_drizzel

seesaw said:


> word on the street is that in the event of a euro breakup accounts throughout the eurozone in euro belonging to a person with an Irish address would very likely be converted to punt nua. You can't escape this by staying in euros.


 
accounts held in germany fall under the german regulatory jurisdiction not any "eurozone" jurisdiction. the word on that particular street seems rather far fetched.


----------



## Troy McClure

Yorky that a fair point, but wherever it ended up it would still be stronger than what we are left with I think. The exporters group in Germany only last week suggested they could live with a stronger currency.


----------



## e_drizzel

Yorky said:


> Has anyone considered that in the event of Germany exiting the Euro, it would be in their interests for the new currency to significantly devalue considering their dependence on exports?
> 
> Any foreign deposits held there could well be worth less than they would be in the holders domiciled country


 
yes it would be in their interest but it would be largely out of their control. investors would pile onto a new DM.


----------



## Brendan Burgess

As this thread now has over 400 pages, it's not of much practical value to anyone coming new to the topic.

Would someone please write a Key Post summary and link back to posts within this thread? 

Or perhaps update this thread? 

http://www.askaboutmoney.com/showthread.php?p=1203938#post1203938

Thanks


----------

