I have a DKB account just for traveling. I preload the credit card and use it to withdraw money while traveling (make sure you check that the country you travel to has ATMs that accept VISA credit cards)
Originally Posted by
Wayfahrer
Do I understand well that if you preload the DKB card account it gives you a positive interest? Even better than the cash account's interest?
Yes and yes. The interest rate of the Credit Card account is higher.
Originally Posted by
Wayfahrer
So basically these credit cards can give you a grace period on cash advances too? What are the interests earned on the accounts? It it possible to operate them without much German knowledge in English? Are the reps willing to speak English by principle? That is the question.
The initial credit card limit is 500€ (don't know if this is for everybody or if your credit report has something to do with it) If you want to increase the limit you have to regular deposit on you DKB checking account for example your wage.
Originally Posted by
Wayfahrer
Lastly, how do they report your account to your country or do they withhold taxes (Like in Austria, Luxembourg)? I heard some banks do this in practice in countries where they should report on paper. How do you calculate your due taxes from ever changing balances and an interest rate close to zero? Or is it negligible? Maybe for you but for your tax office?
I can only speculate how exactly it works but in Germany there is a 25% tax on interests. The bank will automaticaly withhold 25% of your interets and transfers the tax directly to the state. The amount of the tax is in your bank statement. A general description of how interest are calcualted can be found here
Interest