Go Back   English Forum Switzerland > Living in Switzerland > Business & entrepreneur
Reply
 
Thread Tools Display Modes
  #1  
Old 24.07.2013, 13:22
p42's Avatar
p42 p42 is offline
Forum Veteran
 
Join Date: Oct 2008
Location: Kanton Zurich, Adliswil.
Posts: 685
Groaned at 3 Times in 3 Posts
Thanked 339 Times in 216 Posts
p42 has earned the respect of manyp42 has earned the respect of manyp42 has earned the respect of many
New German bank account for Swiss residents?

Has anyone recently opened a german bank account for themselves. Ideally with a BLZ and Konto number, and online banking?

Something has changed legally and certainly in central Germany I was asked for a residence card before I could open one. Has anyone opened an account recently at a local Sparkasse or similar along the border?

Will I have problems with a Zug residence permit?
Reply With Quote
  #2  
Old 24.07.2013, 17:14
kiwiguy08's Avatar
Forum Veteran
 
Join Date: Apr 2008
Location: Horgen
Posts: 1,207
Groaned at 28 Times in 21 Posts
Thanked 835 Times in 411 Posts
kiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputation
Re: New German bank account for Swiss residents?

Quote:
View Post
Has anyone recently opened a german bank account for themselves. Ideally with a BLZ and Konto number, and online banking?

Something has changed legally and certainly in central Germany I was asked for a residence card before I could open one. Has anyone opened an account recently at a local Sparkasse or similar along the border?

Will I have problems with a Zug residence permit?
I wasnt aware that German non residents could open a bank account in germany. New to me.

I was declined when i inquired into it
Reply With Quote
  #3  
Old 24.07.2013, 17:41
p42's Avatar
p42 p42 is offline
Forum Veteran
 
Join Date: Oct 2008
Location: Kanton Zurich, Adliswil.
Posts: 685
Groaned at 3 Times in 3 Posts
Thanked 339 Times in 216 Posts
p42 has earned the respect of manyp42 has earned the respect of manyp42 has earned the respect of many
Re: New German bank account for Swiss residents?

I opened one in 2007, had it for a few years and now I need another.

I have some garage spaces in Germany that I receive a nominal rent from, and need some economical way for tenants to pay. I understand that by law I need to provide a German account.
Reply With Quote
  #4  
Old 24.07.2013, 17:49
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Misery-Courtion
Posts: 13,557
Groaned at 171 Times in 135 Posts
Thanked 9,676 Times in 5,522 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: New German bank account for Swiss residents?

Like everything else it may depend on how much you put in. I found this on ToytownGermany though:

http://www.toytowngermany.com/lofi/i...p/t215075.html

Could well be because of anti-money laundering and also the incoming FATCA law and it's consequences. But if you've got 100,000 or more Euros to deposit Deutsche Bank might be willing to take you:

https://secure.deutsche-bank.de/form...aender_en.html
Reply With Quote
This user would like to thank Medea Fleecestealer for this useful post:
  #5  
Old 24.07.2013, 18:19
Forum Legend
 
Join Date: Jun 2007
Location: What's it to you?
Posts: 2,633
Groaned at 98 Times in 68 Posts
Thanked 3,209 Times in 1,296 Posts
Snoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond repute
Re: New German bank account for Swiss residents?

The Sparkasse Hochrhein has a page just for Swiss customers:

https://www.sparkasse-hochrhein.de/z...izer_Kunden%2F
Reply With Quote
This user would like to thank Snoopy for this useful post:
  #6  
Old 24.07.2013, 18:33
p42's Avatar
p42 p42 is offline
Forum Veteran
 
Join Date: Oct 2008
Location: Kanton Zurich, Adliswil.
Posts: 685
Groaned at 3 Times in 3 Posts
Thanked 339 Times in 216 Posts
p42 has earned the respect of manyp42 has earned the respect of manyp42 has earned the respect of many
Re: New German bank account for Swiss residents?

Quote:
View Post
The Sparkasse Hochrhein has a page just for Swiss customers:

https://www.sparkasse-hochrhein.de/z...izer_Kunden%2F
This one looks worth following up. Sadly I don't have 100k for the DB option...
Reply With Quote
  #7  
Old 25.07.2013, 09:44
kiwiguy08's Avatar
Forum Veteran
 
Join Date: Apr 2008
Location: Horgen
Posts: 1,207
Groaned at 28 Times in 21 Posts
Thanked 835 Times in 411 Posts
kiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputation
Re: New German bank account for Swiss residents?

I played around with this yesterday and found an interesting option. The bank is called DKB and they offer a GIRO account (checking) with a EC and VISA cards. They charge nothing to run it, no minimum balance and even seem to give you 1% interest! You can open an account online ( did it using a swiss adress and us citizenship). I will have a follow up conversation with them by phone and will send them a copy of my passport.

Still interested to see if this will work or not
Reply With Quote
  #8  
Old 25.07.2013, 10:10
Jim2007's Avatar
Forum Veteran
 
Join Date: Jun 2006
Location: Kt. Bern
Posts: 2,094
Groaned at 34 Times in 32 Posts
Thanked 2,079 Times in 1,063 Posts
Jim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond repute
Re: New German bank account for Swiss residents?

Quote:
View Post
I understand that by law I need to provide a German account.
I have no idea if this is true, but since Switzerland is part of SEPA, as of next year all that is required is a valid IBAN/BIC combination. In fact the rules clearly state that you can not be required to have an account in a particular state in order to make or receive payments. So I doubt that anyone will get too excited for the couple of months that remain if you use a Swiss IBAN/BIC combination.
Reply With Quote
  #9  
Old 26.07.2013, 11:29
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 781
Groaned at 2 Times in 2 Posts
Thanked 408 Times in 250 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: New German bank account for Swiss residents?

I can highly recommend the DKB-option.

The account is free, the asscociated Visa-Card as well. Using this card in the €-zone is always free for both payments and ATM-withdrawals (1:1).

Most interesting is the option to withdraw cash, worldwide, free of charge. They apply the current mean fx-rate, without any markups. Furthermore, even if the foreign ATM charges a fee, and even if this fee is mentioned on the foreign ATM´s screen before you withdraw, such fees are re-imbursed on simple request by email. (They claim this cannot be automated.)

I once requested such a refund for withdrawals made in Thailand, just to see if it works. Result: After 2 days I received an email, confirming that the funds are credited, and they were.

Only drawback is using the Visa card for non-€-payments, in which case they charge a 1.75% markup. Solution: Don´t use the card for this type of transaction, but withdraw cash instead. (I use www.kalixa.de for non-€-payments, since that´s entirely free. But those guys only open accounts with a German address :/)

So my personal summary is: If you like fees, don´t open a DKB-account. In all other cases: Do!

Rgds, Christian
(no, I don´t work for DKB)
Reply With Quote
This user would like to thank ChrisNeedsToKnow for this useful post:
  #10  
Old 26.07.2013, 12:34
kiwiguy08's Avatar
Forum Veteran
 
Join Date: Apr 2008
Location: Horgen
Posts: 1,207
Groaned at 28 Times in 21 Posts
Thanked 835 Times in 411 Posts
kiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputation
Re: New German bank account for Swiss residents?

Quote:
View Post
I can highly recommend the DKB-option.

The account is free, the asscociated Visa-Card as well. Using this card in the €-zone is always free for both payments and ATM-withdrawals (1:1).

Most interesting is the option to withdraw cash, worldwide, free of charge. They apply the current mean fx-rate, without any markups. Furthermore, even if the foreign ATM charges a fee, and even if this fee is mentioned on the foreign ATM´s screen before you withdraw, such fees are re-imbursed on simple request by email. (They claim this cannot be automated.)

I once requested such a refund for withdrawals made in Thailand, just to see if it works. Result: After 2 days I received an email, confirming that the funds are credited, and they were.

Only drawback is using the Visa card for non-€-payments, in which case they charge a 1.75% markup. Solution: Don´t use the card for this type of transaction, but withdraw cash instead. (I use www.kalixa.de for non-€-payments, since that´s entirely free. But those guys only open accounts with a German address :/)

So my personal summary is: If you like fees, don´t open a DKB-account. In all other cases: Do!

Rgds, Christian
(no, I don´t work for DKB)
Does the Visa card work as a EC Card or do you get one as well? The KFC in France doesnt take anything other than EC cards for machine orders. I always have to order at the counter with my non-existent french. (the results are always bad)
Reply With Quote
  #11  
Old 26.07.2013, 12:42
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 781
Groaned at 2 Times in 2 Posts
Thanked 408 Times in 250 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: New German bank account for Swiss residents?

What used to be "EC-Karte" in Germany is now renamed into >>Girocard<<. For international purposes Girocard comes with the "Maestro" option.

I seem to remember that during the application process DKB asks if you want one. So I guess, yes, that should be possible.
Reply With Quote
  #12  
Old 26.07.2013, 12:49
Sbrinz's Avatar
Forum Legend
 
Join Date: Oct 2011
Location: Murten - Morat
Posts: 10,978
Groaned at 542 Times in 342 Posts
Thanked 10,580 Times in 5,412 Posts
Sbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond reputeSbrinz has a reputation beyond repute
Re: New German bank account for Swiss residents?

I have a savings account with the Deutsche Bank, I can receive money at Swiss ATMs, but I cannot make money transfers. They pointed me to the German Post Office Bank when I asked. I am now opening a DKB account, thanks for the advice!
Reply With Quote
  #13  
Old 26.07.2013, 13:15
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 781
Groaned at 2 Times in 2 Posts
Thanked 408 Times in 250 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: New German bank account for Swiss residents?

Quote:
View Post
...I am now opening a DKB account, thanks for the advice!
Hi Sbrinz,

if you succeed, maybe you can post about how this goes for you? Their process changed recently, and I´d love to know how it works in detail.

Will you go to Germany (any postoffice in Germany) to open the account, or do you want to do it from Switzerland?

Rgds, Christian
Reply With Quote
  #14  
Old 26.07.2013, 13:21
kiwiguy08's Avatar
Forum Veteran
 
Join Date: Apr 2008
Location: Horgen
Posts: 1,207
Groaned at 28 Times in 21 Posts
Thanked 835 Times in 411 Posts
kiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputation
Re: New German bank account for Swiss residents?

I'm in the process of opening a DKB account right now. After the online application, they contacted me by phone, we had a brief 5 minute chat. (standard know your customer questions) Afterwards, i got an email asking me to certify my documents. I can either go to germany using postident (which is free for me) or do it from here by having a bank or a lawyer fill out an included form, stamp it and send it to them. (unknown charge) I am now trying to decide which option to choose.
Reply With Quote
  #15  
Old 26.07.2013, 13:27
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 781
Groaned at 2 Times in 2 Posts
Thanked 408 Times in 250 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: New German bank account for Swiss residents?

Quote:
View Post
...certify my documents...
What documents do they ask for? For me (I opened it several years ago) they asked for zip-nothing-nada, except to see my passport, which was done during the postident-procedure in the postoffice in Germany.

Quote:
View Post
...postident (which is free for me)...
Postident is a super-easy option. Beware though that the postoffice-guys just add their standard "postident"-form, which consists only of taking down and certifying your details from your passport. All other papers you give to them, they just include into the envelope without checking. So you´re responsible that everything is complete and signed.

Quote:
View Post
...or do it from here by having a bank or a lawyer fill out an included form, stamp it and send it to them...
This strategy is so not-standardised, that I dislike it by default. But would be interesting to know the details, should you decide to go this way.

Thanks and regards, Christian
Reply With Quote
  #16  
Old 26.07.2013, 13:31
kiwiguy08's Avatar
Forum Veteran
 
Join Date: Apr 2008
Location: Horgen
Posts: 1,207
Groaned at 28 Times in 21 Posts
Thanked 835 Times in 411 Posts
kiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputation
Re: New German bank account for Swiss residents?

If I do it from here, they also want a copy of a bill to verify adress. (Perhaps a power bill) They also need a residence permit

I also think i will head up to germany to do it because its much simpler.
Reply With Quote
  #17  
Old 04.09.2013, 16:54
kiwiguy08's Avatar
Forum Veteran
 
Join Date: Apr 2008
Location: Horgen
Posts: 1,207
Groaned at 28 Times in 21 Posts
Thanked 835 Times in 411 Posts
kiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputation
Re: New German bank account for Swiss residents?

Well as an update, i have opened the account and received all of the documents as well as the giro card. It went pretty easily. I am going to transfer some money tonight. Just as a general question, do banks charge a fee when sending money from a CH IBAN to a DE IBAN?? If so i will do it by xe.com
Reply With Quote
  #18  
Old 04.09.2013, 18:13
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 781
Groaned at 2 Times in 2 Posts
Thanked 408 Times in 250 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: New German bank account for Swiss residents?

Even within the SEPA-zone transfers are only free, if the transfer is from an EUR account to an EUR account. So unless you have an EUR-account in Switzerland, there will be a transfer-fee.

Next, the fx-rate. All banks will usually suck your blood on that. So, as a summary, even if you do have an EUR-account in Switzerland use fx.com or any other service of the like. I personally like+use currencyfair.com, but transferwise and several other should also do the trick.

Last edited by ChrisNeedsToKnow; 04.09.2013 at 18:41.
Reply With Quote
  #19  
Old 06.09.2013, 13:43
kiwiguy08's Avatar
Forum Veteran
 
Join Date: Apr 2008
Location: Horgen
Posts: 1,207
Groaned at 28 Times in 21 Posts
Thanked 835 Times in 411 Posts
kiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputationkiwiguy08 has an excellent reputation
Re: New German bank account for Swiss residents?

Quote:
View Post
Even within the SEPA-zone transfers are only free, if the transfer is from an EUR account to an EUR account. So unless you have an EUR-account in Switzerland, there will be a transfer-fee.

Next, the fx-rate. All banks will usually suck your blood on that. So, as a summary, even if you do have an EUR-account in Switzerland use fx.com or any other service of the like. I personally like+use currencyfair.com, but transferwise and several other should also do the trick.
This seems to no longer be the case, at least with my bank. I sent 350 euros on Wednesday evening and it was in my DKB account today. There were no charges by DKB, and no charges by my bank. The "official" rate by xe.com at the time i sent the transfer was 1.235. I received 1.25002 from my bank...so all in all a good, cheap experience.
Reply With Quote
  #20  
Old 10.09.2013, 16:40
Newbie
 
Join Date: Sep 2013
Location: Geneva
Posts: 1
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
gOURIyASHODHAN has no particular reputation at present
Re: New German bank account for Swiss residents?

kiwiguy08,

How many days did it take for you to open an account at DKB?

Looks like , process started somewhere around 25.07.2013 and completed around 04.09.2013.

So that means , it took 1 month and 9 days to open an account ?

Isn´t that too much ?
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
New Swiss Bank account prit25 Finance/banking/taxation 10 24.06.2012 18:46
New UN job, no Swiss bank account, only BofA M. Ploymi Finance/banking/taxation 0 02.02.2012 19:29
which bank charges the least bank charges for new account dreamcatcher Finance/banking/taxation 6 06.12.2011 12:36
Swiss Bank Account Closed by Bank Lorelei Finance/banking/taxation 26 01.07.2011 10:56


All times are GMT +2. The time now is 15:54.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0