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Comdirect Bank Account Review

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Enjoy fee-free cash withdrawals globally and fast contactless payments with Comdirect.

Comdirect offers customers a range of personal accounts to suit different needs, including a checking account that’s free to sign up to and easy to use. The German investment bank, which was founded in 1994, has a hassle-free sign-up process that can be completed online.

In this guide, we take a look at Comdirect’s bank account to help you decide if it’s the right choice to meet your banking needs.

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Product NameComdirect Bank Current Account
Management Fee€0
Card Fee€0
Supported currenciesEUR
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How does a checking account with Comdirect work in Germany?

With Comdirect Bank, all of your banking processes can be managed online or via an app that’s accessed from your smartphone.

During the application process, you’ll have to submit personal details including your full name, date of birth, address and email address. You’ll then need to confirm your identity. You can do this yourself online by choosing VideoIdent, E-Ident or PostIdent.

It may take a matter of minutes to open your bank account if you decide to complete the process online. You’ll then be sent a physical card: a girocard (debit card) along with an optional Visa credit card – these both include contactless payment functions.

What features does a Comdirect bank account offer?

  • Fee-free ATM withdrawals. You can withdraw cash for free using your debit card at one of about 9,000 ATMs Germany-wide. Look for Commerzbank, Deutsche Bank, HypoVereinsbank or Postbank. Plus, you can take money out at all participating Shell petrol stations and around 13,000 retail partners of Comdirect. Elsewhere in Europe, fee-free withdrawals are available in any country with the euro as its official national currency. Globally, Comdirect won’t charge you extra for any cash withdrawals made in non-Euro countries on your Visa credit card. But don’t forget that ATM operators can charge you their own withdrawal fee.
  • Some free cash deposits. You can deposit cash without charge in Commerzbank branches or ATMs up to three times per calendar year.
  • Mobile banking. Make fast transfers via the Comdirect app by using your smartphone. In addition to regular bank transfers, your payments can be sent using text chat, voice activation or photo. What’s more, push notifications will let you track any incoming or outgoing payments for extra peace of mind.
  • No account management fees. With Comdirect’s main checking account, you won’t need to worry about monthly account fees or meeting a minimum incoming fund amount.
  • Comdirect Visa card benefits. Depending on the account you choose, may be able to get this credit card and enjoy up to 2% cashback on all purchases up to 25 euros.
  • Switch with ease. It’s simple to cancel and delete your old checking account with Comdirect’s account switching service. You’ll just need to tell your existing bank about your new account details.
  • Other account options. Other banking products with Comdirect include a savings account, a securities account, mortgage lending, consumer loans and an overdraft facility option.
  • Make and manage investments. With Comdirect, you can invest and trade with securities. There’s also a currency investment account with 12 different currencies to select from. Always be very aware of the inherent risks involved in any kind of trading, prior to making a decision on whether or not to invest.

How do Comdirect checking accounts work?

Comdirect offers a total of four different checking accounts: checking (or current) account, Joint account, JuniorGiro and Basic account.

It’s important to read Comdirect’s full list of fees on its website before signing up, to be aware of the costs and charges you have to pay. Some of these will be fixed while others will vary depending on the way you use your checking account.

Keep in mind that the ATM operators can charge their own withdrawal fee, which is typically displayed to you at the ATM before the payout and debited from your current account.

Is my money safe with a Comdirect bank account?

Comdirect Bank is a fully licenced bank and this safeguards €100,000 of your money through the German government’s Deposit Guarantee Scheme. So, you can feel assured that your cash is in safe hands.

Pros and cons

Pros
  • Zero account management fees
  • No minimum deposit is required
  • Make fast, contactless payments, including Apple Pay and Google Pay
  • 24/7 customer support
Cons
  • No business accounts to link with your checking account
  • Non-German or Non-Austrian residents will find the process of opening an account to be more complicated

How do I sign up to a Comdirect bank account?

Comdirect makes it easy to sign up for a checking account and offers a paperless sign-up process, meaning everything can be completed online via this provider’s website.

After confirming your email address, you’ll receive your contract documents by email. You’ll also need to verify your identity: this can be done quickly by using VideoIdent, a video chat service. You may also verify your identity in-person at the post office.

For security, you must pick a PIN for your online banking and activate the photoTAN app. Your current account will be ready for you straight after. Separately, you will be sent your ‘girocard’ (debit card) and a Visa credit card in the post.

Compare Comdirect with a wide range of current accounts in Germany

Data indicated here is updated regularly
Name Product Management Fee Interest Rate Overdraft Card Fee
Commerzbank Free current account
€0
0%
-
€0

Receive €100 starting credit after 3 months of account activity

A current account with €0 fees and cashback at select Shell petrol stations. Includes a Mastercard Classic credit card.
1822MOBILE Current Account
1822MOBILE Current Account
€0
0%
-
€0

Receive €20 credit when you open an account and use it to receive your salary. Open by 30 November 2020.*

Free account management, €20 when you open an account, up to €100 referral bonus and a free savings bank card: your current account 1822MOBILE offers all of this.
Comdirect Bank Current Account
€0
0%
6.50%
€0
A free current account with no minimum incoming funds. Includes a free Visa credit card and free cash withdrawals worldwide.
Norisbank Free Current Account
€0
0%
10.85%
€0
Benefit from a €0 account fee, free Maestro card and free cash withdrawals from thousands of locations worldwide.
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