On track = less fights (hopefully!)

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Finally, we closed my Deutsche Bank Girokonto, Sparbuch, and MasterCard today! Basically, all my accounts with DB.

Although I had a good run with DB, I didn’t like having to pay for services that I didn’t use.

I much prefer the free online accounts that we’ve opened earlier this year.

We use comdirect for our joint account, Mr. German uses DKB for his personal account, and I use ING-DiBa for mine. We’ve talked about downsizing our personal accounts too, and only using the joint comdirect. But so far we feel comfortable keeping our personal accounts open and doing our own thing in there. One day we’ll consolidate but right now, our system is working well for us.

My ING-DiBa has a balance of 0 EUR! Which I’m very proud of because I sent all my cash to CapTrader to buy VWRLs!!

This is probably a very boring post but just wanted to say that I’m very happy with our progress!

We started off the year stressed out, when I announced I wanted to retire early and completely caught Mr. German off guard. Here Mr. German thought we were doing great and living well already, yet I was suddenly so displeased.

As we live in this fair country of his, I needed his help to get us set up. This caused lots of tension and wasn’t so fun. I cried a lot, Mr. German was at wits end a lot, and in general we argued a lot.

It doesn’t help that we’re both stubborn first born children, who happen to want our own way all the time without compromise. Fun times!!

But we needed to get over that hump and I think we have. There will still be hiccups I’m sure, but things should be smoother sailing now. At least from the administrative point of view.

Vielen Dank für die Hilfe, meiner lieben! ❤

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4 thoughts on “On track = less fights (hopefully!)

  1. Hi again, just a quick though on the bank accounts. I keep at least 2 account, three if possible but definitely not more as it gives a hit on your credit rating SCHUFA. It is true that minimising is good, but one is a no go for me. This was after my experinece of loosing my wallet with the cards. it took a atleast a week for new cards. In your case, since you are all in internet bank accounts, you might be unable to withdraw cash if there is an urgency.

    So now I have
    – First account : branch based account where salary is deposited (usually free in such cases). Rent and other bills paid from this account. Monthly transfer of certain amount to a second account for monthly use. Leave the card at home and use it only in urgent cases. Branch bank to be able to go to the bank in case of emergency.
    – Second account: internet bank for regular use of card (like a DKB – free cash withdrawal everywhere), not more than a months expense, useful if you are impulse spender.
    – Third account : with a bank having a depot (like ComDirect), my investments go from there. With small funds on checking account and a backup card in my wallet, just in case.

    DB is definitely not something I would have, as there are other banks with better service with no costs, so goodbye DB for sure.

    Liked by 1 person

    • Good advice Richard! The reason I went with DB and stuck with them for so long, is because they were the only bank to give me an account when I first got here, and they also mostly speak English! But now that I’m a bit more integrated, I don’t feel bad saying Tschüss to them!

      Which branch based bank do you go with? It’s a good idea, but for us, if we ever lost our cards, we could probably make do without cash for a week. We normally have a bit of cash in our flat/our wallets anyway, since not every where in Germany is plastic friendly.

      Very glad that you’re reading my blog and commenting! 🙂

      Like

      • I know, DB is such a foreigner trap! I went to them as well, but then had to open in another bank as they did not accept me (my mode of payment)! Talk about foreigner problems.

        I use HypoVeriensBank for a long time now and haven’t changed them since. Firstly, for emotional reasons as they were very friendly and accepted me with open arms when DB refused me :).
        I also like that they have coin accepting machines at my branch. I empty my wallets each week of the small coins into a box a every quarter (or whenever the box is full) empty them into the coin machine. I find it very helpful, no need for counting, no additional charges, no carrying around heavy wallet. I have heard people complaining that their banks (DB included) wanted you count them and roll it on paper sheets in sets of10s before they accept it.

        Another good thing about a bank branch is having a personal contact with a branch manager. This is very helpful when seeking out a home loan. Internet banks have customer service who just check the boxes but cannot take executive decision. But a branch manager can if he wants to, and depending on your account and relationship with the bank, you can also negotiate on the interest rate.

        If I was getting one now I might go for Commenzbank, also because they have a branch right in my office building.

        Liked by 1 person

      • Huh, I thought DB gave out bank accounts to everyone (and they charge them for it too!). I have been rejected from Postbank, DKB, and comDirect also had an issue with my application but later were fine with it. It didn’t make me want to try for others, so I kept with DB. My favourite so far is ING-DiBa. They have the easiest and nicest interface, it was a cinch to sign up, and they gave me 50 EUR signing up bonus!

        The coin machine is very a nice service. You can probably save a lot of money doing that, especially if make it a weekly habit! We had so much change and both DB and Volksbank wanted us to roll them up. So instead, we spent years using it up slowly – even lugged it to 3 different apartments, ugh. I would have preferred to just dump it into a machine and have it in our accounts.

        The branch manager relationship is not so important to us. If we ever want a loan, it will just be a small, manageable loan and it probably won’t be with a bank but an independent broker (they seem to get the best rates, in our experience). Plus our relationship with banks is not very strong, since we (or I) try to keep my bank balance at zero!

        Like

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