Comparing Checking and VISA bank accounts at Comdirect and DKB

Comparing Checking and VISA bank accounts at Comdirect and DKB

So much for all the work in digging through Comdirect’s website! Someone already did all the hard work in German, summarizing all the different checking accounts out there! And it was updated December 10, 2008. Here is the chart after it has been machine translated in English.

First, choose whether you have a ‘salary or private account’ or if you are a trainee or student. Next, choose how much your income is every month. Lastly, choose which positions you want to see.

Obviously, ratings 1-6 are the better banks. Out of curiosity, I checked to see how Deutsche Bank stacked up and found it at number 28 out of 30! Time to switch banks!

My personal situation: choosing between comdirect and DKB

For my personal situation, which is a monthly salary between 1,200 to 1,499 euros, comdirect and Deutsche Kreditbank (DKB) come up as the two top-rated banks.

The main differences are in the ATM usage and interest rates.

ATM

For DKB, all ATM withdrawals from the VISA account are free worldwide.

For comdirect, ATM withdrawals from the VISA account are free abroad whereas in Germany they are only free within the Cash Group, which includes Commerzbank, Deutsche Bank, Dresdner Bank, HypoVereinsbank, Postbank and its subsidiaries.

Interest Rates

For DKB, the VISA account earns 3,8 %.

For comdirect, the VISA account earns 4,5 % for the first six months, up to 30,000. Afterwards, the rate is 3,75 %.

Other differences

There are two other differences between DKB and Comdirect that matter to me.

Since DKB is an online-only bank, I cannot deposit cash into it. Comdirect is also an online bank, but they are affiliated with Commerzbank, so I can deposit cash there.

Lastly, Comdirect will give me 1 euro per month and currently has a sign-up bonus of 75 euros.

Conclusion

Since interest rates are liable to change, the only pro of DKB for me is free ATM withdrawals within Germany.

The pros of Comdirect for me are the possibility of cash deposits and 75 euros + 1 euro each month.

Since I find it hard to argue with hard, cold cash, Comdirect wins.