For years, commissions at a number of banks have been negligible. Always. With banks losing revenue due to low interest rates, many financial institutions began raising fees. And that can be costly for current account holders. The consumer portal Biallo calculates that a customer who makes five transfers per month via self-service machines and withdraws money with a Girocard pays on average nearly 80 euros per year.
But there is a way out. Although the range of free checking accounts is shrinking, they still exist. And above all, to attract customers, some establishments even pay a bonus when opening a new account or grant start-up credit. FOCUS online presents an overview of the most attractive bonuses for new customers when opening a free current account.
Open an account with Commerzbank online
An account with Commerzbank is free for monthly withdrawals of €700 or more, otherwise you pay €9.90. With a free Girocard, you can withdraw money at 7,000 Cash Group ATMs and deposit money at Commerzbank ATMs. While on the go, you can easily manage your account through online and mobile banking. There are 550 Commerzbank branches throughout Germany where you can contact with any questions or requests.
Commerzbank
Free current account from €700 per month (otherwise €9.90 per month) Free debit card €50 bonus for new customers
Conditions: within three months, at least five or more transactions of 25 euros or more each, as well as consent to receive promotional emails and calls (minimum 3 months).
Bonus of 100 euros for your recommendation – provided that this person opens the first current account with Commerzbank.
Good to know: depositing and withdrawing money at the cash desk costs EUR 1.50 per transaction. With Girocard you can withdraw cash free of charge from ATMs in Germany and within the Cash Group. In other banks and abroad, the commission is 1% of turnover, the minimum commission is 5.98 euros. When you use a Girocard to pay for goods and services in foreign currencies, you are charged 1% of turnover – a minimum of 1.50 euros in EU countries with foreign currencies and a minimum of 2 .50 euros in countries outside the EU. In addition, there is a conversion charge of 0.59% for EEC currencies.
1822direkt – 50 euro bonus for new customers
Bank 1822direkt is a subsidiary of Frankfurter Sparkasse mbH. For opening a Klassik account, you will receive a bonus of 50 euros. The Klassik account is free if you earn at least €700 per month, otherwise you pay €3.90 per month. With the 1822direkt savings card, you can withdraw cash up to six times a month free of charge from more than 25,000 savings bank ATMs. Girocard can be purchased additionally for six euros per year. When opening a current account, a cash account is also automatically opened with a current rate of 2% per annum.
1822direct:
Free Klassik current account from €700 per month (otherwise €3.90 per month) Possibility of adding the Visa Classic credit card for €29.90 per year In addition to the credit card, the account card (optional for 6€ per year) has Apple Pay Bonus 50 euros for the Classic current account
Condition 1: Request to open an account before July 4, 2023.
Condition 2: at least a salary of €1,000 or more (e.g. salary, pension, salary, BAföG or similar income) as of August 31, 2023.
Condition 3: The money must remain in the account for at least three days before being transferred again.
The premium will be paid between September 25 and 29, 2023.
Bonus 100 euros for your recommendation – provided that this person opens the first current account in 1822direkt.
Good to know: If you use a credit card to pay for goods or services in foreign currencies from the European Economic Area or in currencies of third countries, a fee of 1.75% of turnover is charged. When using an additional Girocard, which can be ordered for six euros per year, a fee of 1.75% of turnover is charged with a minimum amount of 1.50 euros. If you withdraw money with Girocard 1822direkt, you can do so six times a month in Germany free of charge (then two euros per transaction). In the euro zone, no commission is charged, and when withdrawing money in foreign currency abroad – 1% of turnover, at least six euros. When using a Visa card, you pay 2% of turnover in Germany, a minimum of 5.11 euros, no commission in the euro zone, 1.75% of turnover in the EEC and currencies foreign. If you withdraw money from a credit card at the cash desk, you always pay 3% of turnover, a minimum of 5.11 euros and an additional 1.75% for foreign currencies.
Santander Best Giro – €75 bonus
Santander Bank is offering a €75 welcome bonus to all new customers who open a current account by the end of April. When opening a BestGiro account, there are no account management fees and no minimum deposit required. You also receive a free Visa debit card which can be used to withdraw cash for free at cash desks and ATMs of Santander and CashPool partner banks. In other banks, withdrawals cost 3.95 euros per transaction, this also applies to foreign currencies. In addition, you can withdraw up to 200 euros in several points of sale. When paying in foreign currency, 1.5% of the withdrawal amount is charged. Girocard can be purchased for an additional €12 per year, and the free BestCard Basic is also available as a real credit card.
Best Giro de Santander:
Free current account A free Visa Girocard debit card can be added for €12 per year, the Visa BestCard Basic credit card is free €75 welcome bonus until April 30, 2023
Conditions: by 30.04.2023, at least four payment partners must be informed about the Santander account switching service (this includes direct debits, e.g. for electricity, mobile phone, internet, rent or credits; such as salary or pension).
The bonus payment will be made in three months.
Good to know: CashPool’s partner banks include around 2,800 financial institutions such as BBBank, Degussa Bank, National-Bank, Oldenburgische Landesbank, Santander Consumer Bank, Sparda-Banken, Targobank and other regional private banks such as Südwestbank, Steller Ethik -Bank, Pax -Bank, Flessabank, Sperrer-Privatbank and others.
