Deutsche Kreditbank AG shocks its customers: Monthly account management fees will soon be due. The DKB is thus breaking with the previous business model. What amounts will be charged in the future – and how customers can avoid the fees.

Headquartered in Berlin, DKB has a good five million customers throughout Germany. This makes it one of the largest direct banks. Anyone who has opened a DKB online account since Wednesday, September 14th, has to pay a monthly account management fee of EUR 4.50. For existing customers who already before 14.9. were DKB customers, the 4.50 euros will only be charged from January 1, 2023.

But there is a way to avoid the costs: Anyone who posts more than 700 euros in incoming payments to their account every month does not have to shell out the fee. This applies to new and existing customers.

Also, all those customers who are under the age of 28 get away with it free of charge.

However, existing customers will also have to pay a new fee in the future: they pay 99 cents per month for the Girocard – i.e. a lavish 11.88 euros per year. This fee has been available for new customers since November 2021. However, customers can do without the card as an additional service and thus also avoid this fee.

With its multiple fee increases, the DKB has lost its previous top position as a frequently recommended free direct bank. With the introduction of fees, Deutsche Kreditbank is taking a step that major market players such as Ing, Consorsbank and Comdirect have already taken before them.

As a result, the number of providers of free checking accounts continues to decrease. However, the current account comparison shows that there are still financial institutions that do not charge customers any fees – even if no regular deposits are received.

This applies, for example, to the PSD Bank Nuremberg with its “PSD GiroDirekt” product.

The service catalog includes:

Another plus: New customers get a starting credit of 50 euros – at least if they book regular salary payments.

In addition to the PSD, other financial institutions offer free accounts – but usually only for young people. For example, the Commerzbank and the Stadtsparkasse Munich.

Another piece of advice for consumers who regularly run out of money at the end of the month: If possible, you should not use an overdraft facility. It is significantly cheaper to take out an installment loan and pay it off monthly.