How to prepare your bank account optimally for the emigration!
The first article of this new special portal does not start in America, but in Germany. This is out of practical reasons, as a successful (partially) emigration to another continent requires good preparation.
You can ask for advice at professional assistants and distribute the necessary tasks to several people.
Of course, there are also people, who want to manage as much as possible by themselves.
No matter what type you are: through this portal, your emigration to America should become easier and you do not have to pay “dearly” than trying completely by yourself!
Important question: How do I manage the German bank account best?
Paying dearly often starts already at the bank account. There are two mistakes that are frequently committed by emigrants and can consequently only be recouped with higher effort:
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Bank account in Germany is cancelled too early
Problem: a re-setup from abroad is cumbersome.
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Existing bank account is not cancelled and continues
Problem: Your “bank advisor” could get scared, as you are no longer nearby and could block your account. You will be “asked” to visit the branch office for nullities in order to resolve things personally.
Both variants have happened to us several times in practice and we have always managed to find solutions together.
However, it is easier to get an appropriate bank account before emigrating from Germany.
Change of bank is advisable before the emigration!
Hardly any emigrant will deny that it is meaningful (or it would have been meaningful) to keep a bank account in Germany. There is a huge agreement from experience.
Your German bank account must support you, not hinder you!
In order for this bank account to be a positive force in your new life, it is important for you to find an appropriate bank. The following criteria have turned out to be especially helpful:
- Residence abroad is a normality for the bank
- Bank is available around the clock by phone (time zones!)
- Account can be managed free of charge (no unnecessary costs anymore)
- Bank card for payments / withdrawing cash abroad (possibly free of charge)
- comprehensive online banking (so that you are able to do almost anything by yourself)
- simple possibility of tax exemption (as you are often a non-resident taxpayer in Germany after the emigration and should not pay unnecessary taxes!)
There are two banks in Germany that fulfil all these conditions outstandingly. I myself have excellent contact to both of them and of course, own both accounts!
Two banks are especially suitable for emigrants!
These are:
- Deutsche Kreditbank (DKB)
- Comdirect Bank.
Both are German direct banks that have employees, who are specialized on international business (a.o. German expatriates).
If needed, also an account opening after moving from Germany is possible, however, this is a little more complicated than opening the account in Germany and consequently you only have to update the address to the abroad place of residence.
Following, both banks are briefly introduced and links forward you to further information on our “mother portal” DeutschesKonto.ORG, as the accounts are already explained in such detail that you can hardly find elsewhere.
 DKB |
 Comdirect |
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|---|---|---|
| The most important basic features of the accounts | ||
| Residence abroad permitted? |
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| Delivery of new cards to the abroad? |
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| Availability | by phone around the clock (24/7) or via e-mail/post | |
| Account management |
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| Credit cards |  1 or 2 Visa credit cards free of charge |
 1 Visa credit card free of charge |
| Withdrawing money abroad and daily limit |
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| Maximum card charging |
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| Interest on balance |
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| Credit line | yes, on the current account and credit card; amount depends on the personal creditworthiness | yes, on customer’s request on the current account and credit card; amount depends on the personal credit worthiness; additional option of a securities loan, if no depot account exists yet |
| no real estate or business financing abroad possible | ||
| Often requested details of the accounts | ||
| Online banking |
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| Phone orders (e.g. transfers, depot orders) |
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| International transfers | worldwide from € 12.50 | worldwide from € 7.90 |
| Outside the SEPA-area, TransferWise provides its services to save transfer costs. | ||
| Joint account | Yes, with two or several persons also possible together with foreign citizens – e.g. life partner in the USA! |
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| Emergency card |
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| How to do the account opening | ||
| Guarantee on account opening? |
People, who have a negative Schufa (credit investigation company), can find alternatives here (however, they are not as good). |
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| Creditworthiness check | yes about 65 % pass this test; find tips here |
yes about 65 % pass this test |
| Application on account opening | online | online |
| Legitimating (Identity check) | From Germany | |
| • via video chat (WebID) or • PostIdent procedure |
• via video chat or • PostIdent procedure |
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| From abroad | ||
| • via video chat (WebID) (IDs in German language) • legitimating through bank, notary or lawyer |
• via video chat (IDs in German language) • legitimating through notary |
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| Start account opening |  (read further information) |
(read further information) |
Which of those both accounts should I open?
DKB and Comdirect only differ in the details when looking at the conditions, but there is a huge difference to other banks and savings banks, especially with regard to the problemless account use at an abroad place of residence.
As there is no guarantee of successful account opening, you can try to get an account at both banks. However, please do not try to do that at the same time! Any request on account opening is saved at the Schufa (credit investigation company) and is visible to other banks for 10 days.
I myself have both accounts, but please do not apply for them simultaneously!
For the first account application, choose the bank, which conditions you like better. That is for most people the DKB. The DKB is also the better-known brand!
However, the customer service of the Comdirect Bank is outstanding and through this, also telephone orders – for example, urgent transfers, if you do not have access to the online banking – are possible in an emergency. The DKB does not offer that.
“Open the emigration account now”
… both accounts are perfect to accompany you financially around the globe!
Please tell me, which account you have chosen!
For this, the comments box at the end of the page is activated. I would be particularly pleased, if you could tell me the crucial reason, as I want to create even better articles for you and for other readers in the future. Many thanks for your commitment!
Oh yes, at the Comdirect, one can create a USD account. This makes sense, for example, if you want to exchange some money during times of favourable rates… more on that in future articles!
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