Why Expats should Choose Commerzbank? Six Key Benefits Explained

 

Introduction to Commerzbank and Simple Germany:  

It boasts a consecutive year of being recognized as the premier branch bank in Germany.

 

 Reasons to Choose Commerzbank:  Six reasons are given for choosing Commerzbank over online-only banks: physical branches and ATMs for in-person transactions; a free checking account (with conditions); English-language support (approximately 85% of the time, both in branches and customer service); English language app and website; acceptance of a wider range of nationalities; and unlimited cash withdrawals at affiliated ATMs.

 

Requirements for Opening a Commerzbank Account:  To open an account, applicants must be over 18, registered in Germany, and possess their *Meldebescheinigung (registration confirmation) and passport (and potentially a residence permit for non-EU/EEA citizens).  The free account requires a minimum monthly income of €700; otherwise, a €9.90 monthly fee applies.

 

Step-by-Step Online Application Process (Step 1: Completing the Online Form):  The first step involves filling out an online application form. The presenters demonstrate navigating the form, noting potential translation discrepancies between the German and Google-translated English versions. Specific fields covered include personal details, address, tax ID, employment status, contact information, desired username and password, expected salary, frequency of cash withdrawals, international transfer plans, debit card preference, and investment account interest. The presenters advise against selecting options for international transfers and investment accounts due to associated fees. They also explain how to deal with a potential bug in the online form.

 

Step-by-Step Online Application Process (Step 2: Identity Verification):  The second step is identity verification. EU/EEA citizens can use a video call, while non-EU/EEA citizens must visit a post office or Commerzbank branch in person with their passport and *Meldebescheinigung*.   Only  a passport and *Meldebescheinigung are officially required;  a residence permit might be requested in some cases. 

 

Step-by-Step Online Application Process (Step 3: Online Banking Activation):  After verification, a letter containing online banking activation instructions will be emailed. This involves using the PhotoTAN app for two-factor authentication.

Step-by-Step Online Application Process (Step 4: Receiving the Girocard and PIN):  A separate letter will arrive containing the PIN for the Girocard (EC card), a German debit card for in-person payments within Germany, but not for online payments.

 

Step-by-Step Online Application Process (Step 5: Contacting Customer Service):  Instructions are provided on how to access English-speaking customer service, which involves navigating a German-language phone menu by repeatedly pressing "9" until an English-speaking agent is reached.