Opening an account with DKB bank in Germany from Ireland

SpaceOne said:
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?
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From the moment I sent all the documents by post around 4 weeks, but I'm so happy about my choice. Every communication I got from DKB is so clear and google translate is helping me with my extremely basic German when I call them! I'm a very proud customer of DKB! All the best in opening your account!
 
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?
 
Went online and opened DKB Cash using Google Chrome and was successful
Now have a 14 page document Not clear as to what I should do next
I do not speak German and do not have a German speaker to consult
Do all 14 pages have to be returned ?
Do I exclude Page 1 and EuropäischenVerbraucherkreditinformationenbeiÜberziehungskrediten
(5 pages of conditions)?
I intend to go to a bank for identification purposes MUST they post the entire document with contents?
A passport is sufficient for identification?
I have to send proof of residence such as ESB etc ?
Do I also have to send proof of salary or PRSI?
Must I transfer cash in some way at this stage or can it proceed without such?
 
I just did an online application with DKB. Easy enough with google translate. I assume that transfers back and forth are routine enough? I really just want it as a bolthole . It looks like the visa card, (max limit 1000), has an APR of 7.9% and credit balances attract .5% interest.
 

Their dkb cash Konto gives me 1.65% interest on my positive balances on the credit card:
http://www.dkb.de/privatkunden/dkb_cash/index.html

Suggestion: add a nice cover-letter explaining that you want your savings in Germany because you rely more on their credibility as country with infos like payslips and so on. When I did it my application went to straight through!
 

I don't remember the entire form but some pages were suggestions so they didn't have to be sent (like the one with the drawings of customer, postman, etc

- I do not speak German and do not have a German speaker to consult ---> that can be negative as I could understand

- I intend to go to a bank for identification purposes MUST they post the entire document with contents? ---> No, you can't. Banks in Ireland don't help on this. You need to go to a notary in Ireland

- A passport is sufficient for identification? ---> Yes with a solicitor

- I have to send proof of residence such as ESB etc ? ---> Suggestion: yes as many as you can with a nice cover letter

- Do I also have to send proof of salary or PRSI? ---> I did it

- Must I transfer cash in some way at this stage or can it proceed without such? ---> I waited for access to internet-banking before transferring electronically any fund
 


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 ? If you (or anyone else) has opened this, have you got iban details etc ?
 
horusd said:
Not sure what you mean by "kind sentences ready" GF?
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When I got a call to check on my request, the guy (who couldn't speak English) was asking me what were my plans in short and long term. I told him that I wanted to park my savings to Germany because I couldn't trust anymore the reliability of italian and irish economy and that I didn't want to go negative by any mean because I don't need that. I had my vocabulary at that time but I wish I was better prepared hence why my suggestion


I think that with "bei einer Bank" they meant a german bank so I went to a notary who helped me with 20/30 Eur.


I'm crossing my fingers for you. I promise you'll be satisfied with them. Also they have got almost state deposit protection on the accounts from Bavaria... Just lovely
 
Guys, my ranking of german accounts:
1) DKB: extremely straight forward. 1.65% on positive balances on credit cark. Current account with zero fees
2) Cortal consors: exceptional saving account with 2.3% interest up to 50K and very high security (pin-generator included like rabo). Needs C/A in Germany as reference account for withdrawals (I've the one with DKB)
3) 1822direkt: 2.2% interest on balances. Needs C/A in Germany as reference account for withdrawals (I've the one with DKB)
4) VW Bank: 2.2% interest only for the next few months until 1st November 2011. Needs C/A in Germany as reference account for withdrawals (I've the one with DKB)

...Still waiting for clearer news from S-Broker...

I've dropped comdirect... Too small interest
 
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Notary fee

I applied for a DKB a/c remotely via an Irish solicitor; application denied because I don't speak German. I knew the solicitor so it didn't cost me much.

I intend re-trying a remote application to DKB again from Ireland, this time via a notary & to have some German phrases ready to hand if/when they interrogate me over the phone. I've phoned notaries and been quoted anything from €45 to €200 for the 5 minute job of attesting signatures & authenticating the documents.

Does anyone have contact details of a certified notary in the Dublin or Wicklow area that might be willing to do this quick job for less than €45?

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?
 
browtal said:
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
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sorry Browtal just saw this post. I didn't pay a notary, I had the bank sign it and stamp it with "Genuine copy -original seen" stamp. I sent it with all the other bumpf in the post last week. I haven't heard back from DKB yet. I hope someone who speaks some English rings! I haven't much German, its very rudimentary/nearly none existent. But I hope to get away with it. I'll practice a few sentences that I hope might help!
 
DB asked me for 100K Eur as well... Hence why I preferred DKB...

...And I'm happy with DKB because I've the luck to speak an understandable german...
 
Hi all. I just got my application pack through from DKB. Have I understood correctly that there is an issue when it comes time to withdraw funds? I *thought* I had read somewhere in the midst of the 17 pages of this thread that someone said that a DE current account would have to be opened. How big of a difficulty does this represent?

With regard to the application itself, there seem to be a couple of items for peripheral extra's that are unnecessary for the main aim of this - which is simply to get funds into that a/c at that interest rate. Did the rest of you return these also or just ignore them?

Also, the most significant thing needed as part of the application is a stamp/signature from current bank here in Ireland - otherwise, it's just a case of a couple of signatures, correct?
 
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
 
Btw guys I also opened an account with Sparkassen broker: 1.5% on their Pluskonto and a good customer service that can only speak german though as far as my experience is concerned
 
Actually spoke too soon. Got a reply this morning (in German) dated 29/8, rec'd today. ? Saying I hadn't sent all the documents or something to that effect, and they were" filing my application". That's the first I've ever heard from them, so much for German efficiency. I sent everything they asked for. I don't think these guys want Irish account-holders.
 
As the "did anyone open a bank account in Germany?" thread became very unwieldy, I have separated out the DKB thread as it seems to be somewhere where people have successfully opened an account without leaving Ireland.

I do not want this particular thread to go off topic, so only discuss the practicalities and benefits of DKB on this thread.

Do not discuss if it's a good idea

Do not discuss any other bank.

Brendan
 
Opening an account with DKB

What does make a DKB-Cash account a good choice?
1. 0 € Fee for standard operations
2. 0 € Fee for withdrawing cash with your Visa Card worldwide
3. 0.5% p.a. interest on the balance of your current account
4. 2.05% p.a. interest on the credit balance of the Visa Card
5. 7.9% p.a. debit interest is you use your overdraft
6. Easy account opening options
7. DKB is a state guaranteed bank

What makes the DKB-Cash account a not so good choice?
1. All documents and account operations are German only
2. DKB agents will not usually talk to in English unless you are really lucky
3. They are still using the old online banking with TAN’s

What do I get with the account package?
1. Current Account
2. V-Pay Card which can be used to pay in shops, however note ATM usage incurs fees
3. Visa Charge Card
4. Overdraft limit on current account

What are the fees?
1. Standard operations (credit/debit including SEPA in €) are free
2. V Pay card usage if free in shops in €, otherwise 1% fee (min 0.77€/max 3.83)
3. Visa card usage is free in shops in €, otherwise 1.75 fee (no max)
4. ATM usage of Visa card worldwide free of charge
Full details are available here.

What are the interest rates?
1. On the current account 0.5% p.a. interest on the balance
2. 2.05% p.a. interest on the credit balance of the Visa Card
3. 7.9% p.a. debit interest is you use your overdraft
4. 12% p.a. for unauthorized overdrafts
Full details are available here. Rates correct as of 24/11/11.

What do I need to open an account online?
1. A good online translator like http://www.microsofttranslator.com/
2. About 20 minutes to ensure you fill the online application out correctly

How do I open an account online?

1. Visit the DKB.de webpage, click on DKB-Cash on the menu and click on “Jetzt eröffnen”
2. A webpage will request “Persönliche Angaben” in German, these are your personal contact details

Kontoinhaber means account owner

a. Anrede is Frau if you are female and Herr if you are male
b. Vorname is your first name
c. Titel is your academic title
Warning, even if you have a Dr. etc do not choose this, it is a crime in Germany to use a Dr. title that is not acknowledged by a specific German authority.
d. Name is your Last Name
e. Geburtsname is your maiden Name
f. Geburtsdatum is the date of your birth in DD.MM.YYYY format
g. Geburtsort is the place of your birth
h. Familienstand is your relationship Status
Ledig is single, verheiratet is married, getrennt levend is separated, geschieden is divorced, verwitwet is widow, lebengsgemeinschaft is a registered partnership
i. Staatsangehörigkeit is your citizenship, this must match your passport
j. Telefonnummer is your telephone number
k. E-mail (come on….)

Anschrift means address

l. Straße, Hausnummer is your street and house number
In Germany the street comes first, than the house number
m. PLZ*, Ort* is your postcode and Town
So if you are posh it’s 4 Dublin for example
n. Land is the country you live in
o. Wohnhaft seit means since when are you living at the address in MM.YYYY
p. Wohnstatus means who owns your property.
Eigentum means you do, zur miete means you rent and sonstiges is anything else
q. Möchten Sie eine abweichende Postanschrift angeben?
Click „JA“ if you want to provide a mailing address different from the address you just enterd, otherwise choose „Nein“

Beschäftigung means your current work circumstances

r. Tätigkeit means your occupation
Angestellter means you are employed and is applicable to the most, otherwise use the online translator to find the appropriate title
s. Derzeitiges monatliches Nettoeinkommen in Euro asks for your current net salary (after taxes etc.) in Euro
t. tätig seit asks since when you work at your current employer in MM.YYYY
u. Branche means the kind of company you work for, again please use the online translator

Weitere Angaben zum Produktpaket

v. Möchten Sie einen zweiten Kontoinhaber angeben?
This asks if you want a secondary account owner, choose “Ja” for yes and “Nein” for no.
Now click on “weiter”

New page “Datenschutz & Bedingungen” is the Terms & Conditions
You need to click the tick box for all of the boxes with the exception of the last one
Number one is your permission for electronic processing
Number two is the schufa permission (the german ICB)
Number three is your declaration that you will use this account for your own purposed and in compliance with the money laundering laws
Number four is your acceptance of the T&C, price list, EU guidelines for long distance products
Number five is your opt in for receiving mails about new products etc. from DBK
Now click on “weiter”

New page “Antrag senden” is showing you what you entered and asks you to confirm it by pressing “Antrag senden” or make changes by clicking “zurück”.

You than will be presented with a confirmation screen

What happens next?
DKB will start processing your application and send you a letter with documentation you have to sign.

You will receive
1. An application form filled out with the data you provided
2. Terms and condition pages
3. A form for Postident (identification at a German Post Office)
4. A form for Identification outside Germany

What do to next?

If you plan a trip to Germany, sign the documents wherever it requests “Unterschrift” on both the application form and the Terms and Conditions. Pack your passport and an original utility bill or bank account statement. Take all those documents, go into a post office in Germany and present the Post Ident form to the agent, they will take your passport and complete a form for you to sign. Hand them your documents including the utility bill or bank account statement and they will send everything to the bank. You must include the bill/account statement, otherwise they will reject your application. There is no charge for you. Most agents in large post offices speak English.

If you don’t want to fly to Germany, sign the documents wherever it requests “Unterschrift” on both the application form and the Terms and Conditions. Take your passport and proof of address (utility bill or bank account statement) and go to a attorney or bank. Most posters report that irish bank's won't help, you need to find an attorney. The guidelines what the attorney needs to do are in English on the forms so he will complete is as applicable. Note that they not supposed to give you the forms back for posting; they are supposed to post it once he filled in their parts. DKB will refund up to 20€ fee for this service.

What happens after I send the documents to DKB?
Be patient, number one the bank is taking some time to process your application and mail from Germany can take anything from 2 days to 7 days.

You should hear back from them either via snail mail or e-mail and with the help of your online translator you can translate if they have a question before they open the account.

What will I get once the account is opened?
If they open an account you will receive several letters from them over a period of 2 weeks which are

1. Welcome Letter that includes your bank account information
2. Welcome Letter that includes your online banking information
3. A TAN letter which are the codes you need to use to operate your account
4. A PIN letter for your V-Pay Card
5. A PIN Letter for your Visa Card
6. A V-Pay Card
7. A Visa Charge Card
8. Your original documents

What is my spending limit on the Visa Card?

This will be marked in the online banking interface, please remember this is not a credit card, this is a charge card and the full amount you spend is due on specific day displayed to you.

You can increase the spending limit on the card by transferring money from your DKB cash account to the visa card online. You will receiver interest on such a balance as above.

At any time you wish you can transfer money back from the Visa Card to the Cash account. All of these transitions are free of charge.

Note that requests to transfer money before 1430 CET are processed the same day but it might take up to 2 days for the transaction to show in the online banking interface.

Is My Money Safe?
DKB is part of the Einlagensicherungsfonds des Bundesverbandes Öffentlicher Banken Deutschlands e.V. (freiwillige Einlagensicherung). So next to the usual 100.000€ limit they guarantee all deposits.

Also DKB is owned by the state of Bavaria and the sparkasse organisation of Bavaria and they have guaranteed that DKB can take care of its contractual responsibilities (exception is war or government regulations). So unless the state of Bavaria gets insolvent your deposits are protected.

And it clearly specifies that your positive balance on your DKB Credit Card is covered by this.

German Tax

After DKB credits you interest (Habenzinsen) you will noticed that you are charged Abgeltungsteuer and Solidaritätszuschlag.

Abgeltungsteuer is the German variant of DIRT and Solidaritätszuschlag is a special german tax introduced after the re-unification to support building up the eastern parts of Germany again and it's still paid. Abgeltungsteuer is 25% and the Solidaritätszuschlag is 5.5% of the Abgeltungsteuer.

You will need to contact a tax professional if you have questions about how to deal with this tax in our Irish tax liability. I can just point out what these taxes are.

FAQ

 
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Dublin Texas

That is absolutely brilliant! Even someone without German should be able to use that to open an account.

I have replaced the first post on this thread with it.

Brendan
 
Great post - one problem - it says on the form that Notary Public cannot be accepted, at the bottom of Identification pages the below where they/you sign.
 
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