Comdirect’s Checking Account, the ‘Girokonto’

The basics

• If you open an account before the end of the year, 75 euro opening bonus.
  The account is free with a monthly deposit of at least 1,250 euros. Otherwise, the account is 4,90 Euros per month.
  For new bank clients, comdirect bank will give you 1 euro each month in your account.
  
• 5.0% interest rate for money in the VISA account for new customers only, for six months only, up to 30,000 euros

Features

GeldKarte

On the ec-/Maestro- card is a golden chip which identifies you as legal to buy cigarettes from tobacco vending machines.

FREE ec-/Maestro- and VISA debit card

The ec (Electronic Cash) card is like a debit card, in that money comes directly from your account. In Germany, most places do not accept Visa and accept only the ec card. The Visa card is a credit card, and every month you will have a statement have have to pay it.

From my internet research, it seems as though I will get two cards, one ec-/Maestro card and one VISA debit card. Online you will apparently see two different acounts too. In the VISA acount, you will get 5% interest for a balance of up to 30,000 euros for the first six months. My understanding is that you keep most of your money on the VISA side and some money in your Giro site, which is attached to the ec-/Maestro card. From the ec-/Maestro card, you will pay rent, buy groceries, receive your direct deposits, etc.

Within Germany, access your cash for free at over 7,000 ATMs in the Cash Group, which includes Commerzbank, Deutsche Bank, Dresdner Bank, HypoVereinsbank, Postbank and its subsidiaries. You can also use the ATMs of Deutsche Bank in Italy and Spain use free of charge. Search for ATMs here, because if you use your ec-/Maestro-card with other banks, it is 3,98 euros per withdrawal.

However, using the VISA card abroad to withdraw money from ATMs is free. Using the VISA to pay for purchases, they will charge you 3% or at least 5,11 euros.

Tomorrow I will look into the fees in their fee schedule.