Banking/Finance in Germany

Discussion in 'Community Discussion' started by sir-hd, Nov 9, 2018.

  1. sir-hd macrumors 6502a

    sir-hd

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    #1
    A thread to discuss everything related to German banking and finance related stuff!
     
  2. sir-hd thread starter macrumors 6502a

    sir-hd

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  3. therealtibu macrumors member

    therealtibu

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    #3
  4. sir-hd thread starter macrumors 6502a

    sir-hd

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    #4
    Well, Commerzbank and Deutsche Bank are the big two private banks.

    You're right, Sparkasse Siegen tested MasterCard Debit but I'm not sure what the result of this phase is: https://www.it-finanzmagazin.de/deb...-siegen-testet-die-girocard-konkurrenz-59757/

    I found this a few days ago: Sparkasse Mecklenburg-Neustrelitz have "built" their own Visa Debit card. It basically works the same as the ING VISA card: Pending payments get processed within 1-3 days and basically acts as a Debit card. https://www.spk-mecklenburg-strelitz.de/de/home/privatkunden/kreditkarte/visa-basis.html?n=true

    Visa hasn't actually launched their Debit product in Germany yet (apart from Consorsbank, that seems to be some special deal).
     
  5. docfred macrumors 6502a

    docfred

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    #5
    Hmm. The fotos of the Spk Mck-Neustrdings say "Visa prepaid", so they connected the regular bank account as the "prepaid" clearining account to that card?
     
  6. sir-hd thread starter macrumors 6502a

    sir-hd

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    #6
    Yep. It's basically the same as with ING (their card is chipped as 'credit' though).

    Interesting concept and clearly shows that Visa has some potential by bringing their Visa Debit model to Germany.

    My local Sparkasse offers a similar product, but the card has its own account that you need to top up with money.
     
  7. docfred macrumors 6502a

    docfred

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    #7
    my S offers for younger customers (pupils, students, "Azubis", etc.) a MasterCard prepaid as "x-tension" (or something like that). I think, it's the same process... second clearing account to charge the prepaid-card. well, why not.

    more interesting how the DK reacts to MC debit and Visa debit, IF major banks introduce them and gain market share.

    the DB card plus for example.... don't think that is a big success as it is a optional addon with costs. but the CommerzBank card.... hmm.
     
  8. sir-hd thread starter macrumors 6502a

    sir-hd

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    #8
    Well in my Commerzbank account (it's free) it's an additional 3,50€ a month. Free in the first year. Then again: Some banks charge a yearly fee for their Girocard o_O
     
  9. docfred, Nov 13, 2018
    Last edited: Nov 13, 2018

    docfred macrumors 6502a

    docfred

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    #9
    yeah, but everyone complains about fees for bank accounts. that would be old and grumpy and "wucher" and so on. so if that's the benchmark, then you have to be "better" than this ;)

    btw: I never had to pay for my bank account cards. at no bank.
     
  10. sir-hd thread starter macrumors 6502a

    sir-hd

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    #10
    That's great, neither do I.

    But there are plenty out there that do :D

    And I also assume that, as you mention in the other thread, first VPay will die (probably quicker than we think) and then Maestro. No room for both systems and as the market consolidates, GIrocard will have a tough market to get through.
     
  11. JulianGoesPro macrumors member

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    Dec 5, 2018
    #11
    I was too cheap to upgrade boon basic... now there is no way around the 1€something... or is there? :)
     
  12. sir-hd thread starter macrumors 6502a

    sir-hd

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    #12
    no... unless you just take all your money off the card. :p
     
  13. docfred macrumors 6502a

    docfred

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    Feb 4, 2018
    Location:
    Germany
    #13
    Alternative: other creditcards (like Hanseatic) or use one of the many cash back offers of boon. ;)
     

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12 November 9, 2018