Perhaps you know the following case: You rave about the great possibilities of the free DKB Visa card and recommend the DKB account with your best conscience.
Days later, you get the feedback: “What a bullshit, the bank has rejected me!” Now you are dazed, not knowing what to say.
Each additional word about the DKB or about your friend would be like sprinkling salt into the wound.
In order for this not to happen, I have created this page for you!
If you like, you, as a referrer, can let your friends and acquaintances read this page in advance for them to be fit for the account application at the DKB.
As one thing is clear: Because of this great offer, the DKB can choose its clients and it does so!
Note: Never fill out an account application unprepared
… as the danger is great that you commit a mistake due to carelessness, which leads to the rejection of the account opening. And this would be a shame for all involved people!
1. Never state too little income
False modesty is neither appropriate in the interview, nor when opening an account. Present yourself in the best light. Even if it is an online form.
Background:
You already know that the DKB offers the entire account, including credit card and with worldwide free cash withdrawals.
In contrary to most other banks, the DKB does not indicate that some ATMs charge additional fees, but it reimburses them.
However, like any other bank, the DKB needs to earn money in order to continue to exist. It can only do this having customers, who have a certain income.
In the first place, this will reduce the likelihood of problems (e.g. suffering overdraft, garnishment requests) and at the same time, fee income is made through the use of the Visa credit card at electronic payments. You do not pay these fees, but the company, where you pay with the card.
Yes, and the Bank does also earn from the interest rate differentials. Tags: Overdraft and Visa-Savings.
How to state your income correctly:
Extract from the account application. Here you can find the complete (bilingual) instructions to fill it out: Opening the DKB account.
In the field “Aktuelles Nettoeinkommen pro Monat in Euro” (Current net income per month in EUR), you enter the total of all money inflows that are sent monthly.
Specifically, this means:
- salary income, pensions or government payments
- + if applicable, any income from part-time jobs
- + if applicable, income from additional creative work
- + if applicable, income from rent, lease, investment income (interest, dividends)
- + if applicable, every other payment that regularly to occasionally flows into your life.
Please convert incomes in other currencies and add them to the total.
Special cases
There are always situations in life, in which you think you have no income that you can specify.
Think, before you state your income!
… as a bank that offers an automatic credit line, calculates the amount of the credit line depending on it!
Let’s look at the following ideas for solutions together. These can be supplemented through the comments feature at the end of this article.
(University) Student
You are planning soon to start studying (or continue at a different location), but you have no yet signed a part-time job or the student loan notice has not yet arrived?
At this stage, or as a student (account opening possible from 18 years of age; younger students may choose DKB u18), the current income plays a subordinate role. It is obvious that there is hardly any A-levels graduate, who earns Euros 500 or more.
The salary arises in the later years. That this is higher and you will thus have a better credit rating then, is also known to the bank. And it counts on it ;-).
So state the income that you actually have. Although, it is permanently the family support.
Monthly transfers or cash deposits of the parents are, of course, part of the income!
Housewife / Houseman
You currently take care of your family and home and your partner earns the income?
No problem. It is best to proceed as follows:
- Set up to DKB joint account,
- transfer the salary payments of the (main) earner to the account, thus the creditworthiness applies to both account holders,
- the subsequent opening of one or two single DKB accounts for you is then a mere formality.
This way, the probability of a successful account opening is much higher than if you apply for the account and specify the housekeeping money as income. Even if this is received by standing order monthly, the creditworthiness is, in the view of the bank, not as good as in the above described way.
The line of credit that the DKB makes available (DKB Visa credit card / overdraft) depends mainly on the regular salary payments.
2. Be careful when stating the occupation
The background is the same as at the first point with modest income. Every bank that does not earn from high bank charges longs for highly creditworthy customers. Be one!
In which case are you unemployed, in accordance with the account application?
Do not define yourself as unemployed, if you:
- still work in your old job despite the termination of work
(you should hurry with the account opening, so you can transfer the last salary payment to the account) - do not currently work, but have already signed an employment contract
(In the next few weeks, you will receive the income and can state the new account number at the employer – specify the income, which has been agreed on in the employment contract, plus possibly other incomes).
If you unfortunately belong to the people, to whom the unemployment is not a short temporary period, the DKB is not the right bank for you.
Maybe not from your perspective, but from the perspective of the bank. I must say this honestly in order to not provide you with false hopes.
However, you will still have two options:
- Choose another free account/credit card without creditworthiness check, as it is offered, for example, by PayCenter or
- Make the application for account opening, when you have a fixed income from work or retirement.
Never select the menu item “unemployed”, as this would certainly ruin your account application.
If you belong to the circle of private income earners, then please select “Sonstiges” (other). You should expect that the bank will interrogate you before the account opening in order to discover the sources of income.
One has to understand this fact as the DKB is a lending bank with the credit card. It is subject to several auditing duties. A pure credit account with prepaid Visa credit card is not offered.
Choose your occupation wisely, the one that fits to your life. Behind each option, the bank has different creditworthiness points.
Example for solution
If you have been fired or you have quit, but you still are in the working phase and the new employment contract has already been signed, then please select Angestellter (employee).
If you have finished your studies and you still do not have a job or want to travel the world for a few months, then please state that you are a student. Criterion is whether you are enrolled in a university (student card)!
Self-employed and freelancers
I know that you do an excellent job and our country needs more people like you, who get up and have courage to conquer the world by oneself.
Unfortunately, banks regard the economic independence as a risk. Income from a time less than three years of self-employment does often not count. Grrrrr!
Additionally, the DKB does not offer business accounts – only private use is allowed. Well, that is only a problem, if the amount attracts their attention. 😉
Nevertheless: people with the status of self-employed or freelancers have a harder time to become a DKB customer, because the automatic creditworthiness calculation deducts points here. I do not like this, but it happens to be a fact!
Solution idea
If you pay yourself a regular salary and if it should be the private withdrawals to cover the cost of your life, then please define yourself as “Angestellter” (employee) of your own business, agreed?
Correction: If you do not accidentally have an autonomous side job, but are officially listed as a self-employed person at the tax authorities, then please indicate this also at the DKB.
You can use the account and the credit card entirely – but privately. One has to strongly discourage a business use, because new experiences have shown that the use in small scale does not really stand out … if the use becomes more extensive or even public (e.g. imprint of a website) and the bank notices this, an account cancellation will take place.
No reader of ours should have such problems, so here is the link to the free business accounts.
Other employment
Stating this really is not a good option, as the bank cannot guess your job. Only choose it, if you really can document it well. For example, if you are a member of parliament or judge.
You will have to expect questions and the prompt for submitting a proof of income.
Positive news: If your data about income and occupation is coherent, the bank often waives on proof!
3. Communicate politely with the DKB!
If you follow the first two points, most likely, it will not come to point 3. Your application has passed smoothly.
Success statistic that one should know
- approx. 60 to 65 % of applications on account opening are smooth; this work is done by the bank computer.
- approx. 30 to 35 % of application will be rejected. This may have several reasons and banks generally do not comment on the reasons.
- about 5 % are checked manually.
If you are among the 5 percent, where the account application is checked manually, then one may congratulate you. The bank would like to welcome you as a new customer and only a few more details have to be clarified.
That means that an employee of the bank will contact you via e-mail or sometimes by phone. Often, this happens out of a question of understanding or a document is requested.
Golden rule: be super-polite.
Actually, it is obvious that if you “apply” for a really great bank account and there may be questions by the bank, you should always show yourself from the best side. In other words: be friendly and polite when you communicate with the staff members of the bank.
However, I would not have to write this note, if it was actually always the case. There are indeed some fellows, who start to nag or even threaten in some way: “Why are you asking that, this is not of your business, so I will go to another bank.”
You should not be surprised later, if the bank rejects your account opening in the last moment. This is then a good thing for all the other DKB customers. Agreed?
4. Let´s start
You probably know the huge benefits of the DKB account already. With the knowledge from this article, you are well prepared for the account application!
However, please realize again why it is worth the trouble, before you take action and apply for the DKB account. You will be able to enjoy:
- absolutely free Internet current account
- with a free Visa credit card too
- and worldwide free cash supply
- all around the clock telephone customer service
- account application possible within Germany and from abroad
Bonus
In order to really take full advantage of the benefits of the DKB, I recommend that you join our DKB video course (German). It is free of charge for the smart bank customers and fans (German) of this web portal! But first, complete your account opening. In the days until the bank cards are shipped, you will have enough time.
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