Deutsche Bank Expat Account Review

Adam Fayed
7 min readJun 20, 2024

--

Deutsche Bank Expat Account Review 2022 — that will be the topic of today’s article.

Nothing written here should be considered as financial advice, nor a solicitation to invest.

This article was originally posted on adamfayed.com. For any questions, or if you are looking to invest as an expat, you can contact me using this form, or via advice@adamfayed.com

It remains my view that private banks usually offer poor value compared to do-it-yourself (DIY) or services like our own.

Introduction

Nothing written here should be considered as financial advice, nor a solicitation to invest.

For any questions, or if you are looking to invest as an expat, you can contact me using this form, or via the WhatsApp function below.

Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, which is listed on the Frankfurt Stock Exchange and the New York Stock Exchange.

The bank’s network covers 58 countries with a strong presence in Europe, America, and Asia. As of 2020, Deutsche Bank was the 21st largest bank in the world by total assets and 63rd in the world by market capitalization. As the largest German banking institution, it is included in the DAX stock market index. The Financial Stability Board considers it a systemically important bank.

The company is a universal bank with four main divisions: Investment Bank, Corporate Bank, Private Bank, and Asset Management (DWS). Its investment banking operations often generate significant transaction flow.

In October 2001, Deutsche Bank was listed on the New York Stock Exchange. It was the first listing on the NYSE since the hiatus due to the 9/11 attacks. The following year, Josef Ackermann became CEO of Deutsche Bank, a position he held until 2012 when he joined the Bank of Cyprus. Then, starting in 2002, Deutsche Bank increased its presence in the US by purchasing Scudder Investments.

From the mid-1990s, Deutsche Bank’s commercial real estate division offered financial support to Donald Trump, although in the early 1990s Citibank, Manufacturers Hanover, Chemical, Bankers Trust, and 68 other organizations refused to provide financial support.

Trump sued Deutsche Bank for $3 billion in 2008, and several years later he moved his financial portfolio from investment banking to Deutsche Bank’s private equity division, along with Rosemary Vrablich, formerly of Citigroup, Bank of America, and Merrill Lynch, becoming Trump’s confidant. new personal banker at Deutsche Bank.

In 2007, the company’s headquarters, the Deutsche Bank Twin Towers building, underwent a three-year major renovation and was certified LEED Platinum and DGNB Gold.

In 2010, the bank took over the ownership of Cosmopolitan of Las Vegas after the original casino developer defaulted on its loans. Deutsche Bank ran it at a loss until it was sold in May 2014. The bank’s exposure at the time of the sale was over $4 billion, and it sold the property to the Blackstone Group for $1.73 billion.

Deutsche Bank Products and Services

The bank’s structure includes four divisions that have good growth potential:

  • The Corporate bank as a single window for corporate and commercial clients. The bank’s global network of approximately 8,000 employees serves clients in over 150 countries.
  • The Investment bank focuses on its traditional strengths in financing, advisory, fixed income and currencies. It continues to provide strategic advice to corporate clients, including in the areas of equity capital markets,
  • The Private Bank is focused on private clients in all segments, as well as business clients. It will strengthen its position as a market leader in Germany, a committed bank in Europe and a highly competitive asset manager.
  • The Asset Manager DWS continues to pursue its goal of becoming one of the top 10 asset management companies in the world by investing in growth areas and playing an active role in the consolidation of the asset management industry.

Can a foreigner open a bank account in Germany?

A German bank account is required when living in Germany. Germany has a rather strict banking system, but in general, a foreigner can open a bank account. Your banking option will depend on whether you have a residence permit in Germany or not.

As a rule, foreigners can easily open a bank account in almost any bank in Germany, provided that they have a residence permit or a residence permit in the country. Whereas, non-residents will only have limited options such as direct and online banking.

Opening a bank account in Germany as a foreigner is certainly possible. After all, if you are permanently resident in Germany, you MUST have a local or European bank account. In this article, you will learn which groups of people can open a bank account in Germany and how to do it the right way.

Foreigners can easily open a current account in almost any bank in Germany if they have a residence permit in the country. But it will be more difficult for non-residents.

In addition, EU citizens will have no problem opening a simple bank account with a German bank, while non-EU citizens will need to provide some additional documents, including registration in Germany. Requirements will vary from bank to bank.

Both EU and non-EU citizens can open an account in person or online by verifying their identity using special tools. In some cases, it is even possible to open a German bank account from abroad.

One of those banks that can offer accounts for expats is the Deutsche bank. At the Deutsche Bank they understand that as an expatriate, you may need assistance in another country. With a savings account for foreigners, you have an option that not only meets your expectations but also meets all your requirements.

Deutsche Expat Savings Account

Expat bank accounts are special accounts designed for people who lead an international lifestyle away from their home country. Many major banks offer certain international bank accounts for foreigners, but often have strict account opening requirements as new customers, and may also be restricted depending on the country of residence.

With the Expat Savings Account, you can get premium banking privileges, such as:

  • As the Expat Banking customer, you will have access to premium benefits designed specifically for you to help you manage your day-to-day banking operations with ease and convenience.
  • Free outgoing money transfers to your country at a preferential exchange rate: send money to your family and loved ones in your country. What’s more, this service is free once a month and you will get a preferred forex conversion rate.
  • Preferential Interest Rates on Term Deposits: You can benefit from a preferential interest rate on deposits crore and above.
  • Special discount on the cost of lockers: They offer you a convenient way to keep your valuables in a safe place with Deutsche Bank safes. You can use the locker with us with a special discount.
  • Free demand drafts, money orders and par value check books: you can easily make payments outside the station with our personalized par value check books. Your checks will be treated as local checks at all Deutsche Bank branches.
  • Dedicated service manager.
  • Receive special invitations to exclusive events throughout the year. Exclusive discounts at restaurants, shops and bookstores.

Free debit card Deutsche Bank Platinum

  • You can enjoy platinum benefits and privileges with the Deutsche Bank International Platinum Debit Card, an exclusive offer for Deutsche Bank Expat Banking customers.
  • Get an International Platinum Debit Card for yourself and a joint applicant.
  • Enjoy unlimited transactions at all ATMs for free.
  • Take advantage of the Global ATM Alliance and withdraw cash from over 50,000 ATMs in 40 countries without paying any cash withdrawal fees.
  • Waiver of the 2.5% surcharge on fuel purchases at all gas stations.
  • Get comprehensive insurance coverage with card loss coverage and purchase protection.
  • Shop, indulge and pamper yourself at over 28 million VISA outlets.

Deutsche Bank Investment Services

Deutsche Bank investment services include a structured process for assessing and understanding your short and long-term financial goals. Depending on your financial situation and requirements, plans and solutions will be available to help you achieve financial success.

Investment solutions

A wide range of investment options, from mutual fund units, portfolio management services (PMS) of well-known funds to life insurance products and other types of insurance offered by insurance companies, our excellent financial solutions offer everything.

Mutual funds

A mutual fund is a great investment option if you are looking for a professionally managed, diversified portfolio that offers the benefits of liquidity and transparency. Choose from over 600 funds from 29 asset management companies, selected through a comprehensive screening process.

db WealthPro

Manage your investments and finances the way you want with db WealthPro, the online money management tool. This brings out the desired rigor and discipline required for money management. db WealthPro provides easy navigation for paperless and hassle-free investments anytime, anywhere.

Insurance

The bank cooperates with Aditya Birla Sun Life Insurance (ABSLI) Co.Ltd, Max Bupa Health Insurance Company, Aditya Birla Health Insurance Company, and HDFC ERGO General Insurance Co.Ltd, well-known private companies in life, health, and other insurance industries. to offer you a range of products to meet your insurance needs at every stage of life.

--

--