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Comdirect Bank Account Review

With Comdirect Bank, you can conduct all banking transactions online or via an app on your smartphone or tablet.

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.

4.90 €

Management Fee

0 €

Card Fee

0%

Interest Rate

Details

Product NameComdirect Bank Current Account
Management Fee4.90 €
Card Fee0 €
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 accessible from your smartphone or tablet.

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 be required to confirm your identity, which can be done online through VideoIdent, E-Ident or PostIdent.

If you decide to complete the process online, opening your bank account is only a matter of minutes. You’ll then be sent a physical card: a girocard (debit card) along with an optional Visa credit card – both of these 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 approximately 9,000 ATMs in Germany. Look for Commerzbank, Deutsche Bank, HypoVereinsbank or Postbank ATMs. Plus, you can take money out at over 13,000 retail partners of Comdirect and all participating Shell petrol stations. Elsewhere in Europe, enjoy fee-free withdrawals in euros. For non-Euro countries, Comdirect won’t charge you extra for any cash withdrawals made on your Visa credit card. But bear in mind that ATM operators may impose 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. Conduct fast transfers via the Comdirect app by using your smartphone. In addition to regular bank transfers, your payments can be sent using text, voice activation or photo. What’s more, you can track any incoming or outgoing payments with push notifications.
  • No account management fees. With Comdirect’s main checking and joint account, you won’t need to worry about monthly account fees for the first six months, or if you’re able to meet the following criteria:
    • Has a minimum monthly payment of €700; or
    • Make at least three payments per month via Apple Pay or Google Pay – by debit or credit card; or
    • Conduct at least one trade or securities savings plan execution per month; or
    • If you are a student, intern and apprentice under the age of 28
  • Comdirect Visa card benefits. Depending on the account you choose, may be able to apply for this credit card and enjoy up to 2% cashback on all purchases (capped at €25).
  • Switch with ease. It’s convenient to close your old checking account with Comdirect’s account switching service. Simply inform your existing bank and provide your new account details.
  • Other account options. Other banking products offer by Comdirect include s savings account, a securities account, mortgage lending, consumer loans and an overdraft facility option.
  • Investments. With Comdirect, you can invest and trade securities with ease. There’s also a foreign currency investment account with 12 different currencies to choose from. Before you commit, always be aware of the inherent risks involved in any kind of trading.

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.

Before signing up for a Comdirect account, make sure to read the full list of fees stated its website. Depending on the way you use your checking account, some of these will be fixed while others will vary.

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 directly from your current account.

Is my money safe with a Comdirect bank account?

Comdirect Bank is a fully licensed bank and up to €100,000 of your money will be insured through the German government’s Deposit Guarantee Scheme.

Pros and cons

Pros
  • No minimum deposit is required
  • Make fast, contactless payments, including Apple Pay and Google Pay
  • 24/7 customer support
Cons
  • Zero account management fee is only limited to the first six months, unless you meet the requirements
  • Unable to link business accounts to your checking account
  • Non-German or Non-Austrian residents will find the account opening process to be more complicated

How do I sign up for a Comdirect bank account?

Comdirect makes it easy to sign up for a checking account with its online application.

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 through VideoIdent, a video chat service. Alternatively, 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 once you’ve completed these steps. The ‘girocard’ (debit card) and a Visa credit card will be mailed to your registered address.

Compare Comdirect with a wide range of current accounts in Germany

Name Product Management Fee Interest Rate Overdraft Card Fee
Commerzbank Free current account
0 €
0%
0%
9.90 €

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%
0 €
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.
Vivid Standard
0 €
0%
0%
0 €
A free bank account with fee-free payments and transfers globally. Enjoy up to 20€ cashback per month.
Comdirect Bank Current Account
4.90 €
0%
6.50%
0 €
A current account with no minimum incoming funds. Includes a free Visa credit card and free cash withdrawals worldwide.
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