Yes, that’s the one. As with most German banks, they only do business in German. They’ve been talking about adding English and focusing on Expats. Little to show so far though.
Couple of points:
- somewhat old-fashioned bank
- but trustworthy and financially sound (majority-owned by the Bavarian state bank)
- outgoing transfers are somewhat slow
- mobile apps are largely just wrappers for their web-based online banking (though they are working and “beta-testing” a native app - still very barebones though)
- and their login / 2nd factor device system kind of sucks, but has at least become relatively reliable
- somewhat picky about opening an account domestically as well as for non-residents (…unless you’re German. Though I know non-German non-residents that have opened with them)
- current account is free and includes a Visa credit card (might become debit soon though)
- VISA ATM cash withdrawals are free (on their side, subject to 50€ minimum amount)
- foreign currency transactions are free as long as you have “active customer” status (700€ incoming each month, source doesn’t matter, though capital income on their own securities account doesn’t count).
- customer service is much better than most German direct banks IMO
- no rock-bottom trading prices on the brokerage - but no custody fee either
- they do have a rather large selection of ETF savings plans at a flat 1.50€ per transaction
Hope that sums it up.
I am transferring 700€+ into the account each month*, through a standing order from another bank. Most of which gets spent on my IE00BX7RRJ27 savings plan.
No custody or upkeep fees whatsoever - and it has been that way for 15 years (they also advertised the fact again quite relatively that it’s free)
* For that, I also get to my EUR VISA credit card without FX fees or withdrawal fees.