N26/DKB/Revolut/CSX/Yuh/Zak/Wise/Nuri - any feedback?

Partly quoting myself here:

I’m banking with DKB anyway and while their IT and online banking (still) seem a bit dated, I have had very good experiences with their customer service and trust them more than any other German online bank.

Online banking is functional but looking a bit at all outdated. Their old mobile app isn’t user friendly. Not a mobile app really, but mostly rather a wrapper around their online banking. They are developing a new app with - as of yet - very limited functionality. On a positive note, their login/authentication system has improved in reliability.

Short: Very good bank - considering it’s Germany and an online bank offering a free account - that’s just late (and been struggling) to build modern banking user interfaces for customers.

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Well some of these scandals aren’t even scandals, but some are, yes. But it’s not like things like this don’t happen in other banks too. Some just don’t get discovered. But even the most shiny and proper banks have skeletons in the closet and it’s basically just a matter of luck/bad luck if they get discovered or not (see Raiffeisen).

Nevertheless, this doesn’t change anything that CS offers high quality services, their e-Banking and apps look nice and modern (some other banks have horrible apps and E-Banking that look like from the last century), their on-boarding process just works within a matter of minutes whereas at UBS it took me almost 2 months to open a bank account and they still couldn’t get it working as expected with credit cards, TWINT, name correctly shown in E-Banking, etc. after 2 months.

At CS I never had such issues and everything worked smooth right at the beginning. Then customer services, at CS when I used their chat functionality I had a competent person on the line within 5-10 minutes that answered my questions competently and also could setup additional accounts that were available immediately. At UBS they were almost not reachable, they don’t have a chat only in-e-banking messaging, an answer can take around a week and at the hotline they pass you from one hotline to the other without solving anything.

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@San_Francisco already mentioned most of the points I would also tell about DKB. I’ve been with DKB for almost 8 years now, and I still love them.

Tax declaration for Swiss authorities is easy. You just send them an account statement for the last year. Either the last one you received for December of the tax year, or you generate an account statement yourself for 31.12. of the tax year. Has worked fine for me the last years.

A bit off-topic, but to share some of my experiences: CS was the freaking worst when I tried to open a business account with them a few years ago. First, they were 4 weeks delayed to open the blocked account for the base capital of my GmbH (reason: internal confusion). Second, after they finally managed to do it, it would have taken them 8-10 weeks to transform the account to a normal business account. I tried everything I could to speed up the process (even going to a CS branch and escalating), but nothing helped. They gave some “internal problems with compliance, that’s why we have 8 week delay” as an excuse.

I created the business account with UBS within 2 weeks, and I have never looked back. For me personally, CS is as shitty as it gets. Sure, that’s my own very personal experience from 4 years ago. Still, I don’t touch anything which is coming from CS (aside from VIAC/finpension using CS ETFs).

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My experience with CS is very similar to yours. I also buy the intro you made

thanks a lot. very valuable comment.

Do you know if it is available for Swiss residents?

I was analyzing many Italian providers (Intesa, Unicredit, ING, MPS) and they are only available for Italian residents

somewhat off-topic

DKB has long been available to Swiss residents, thought not actively advertising (unlike N26). But they can be picky for non-resident, non-citizen account openings (though probably not as bad as Swiss banks). I’d apply for/through their securities account application site.

Do keep in mind that this is Germany, where domestic retail banks will generally be speaking and offering services and paperwork in German. English is spotty at best.

N26 is a notable exception, as being an explicitly pan-European oriented “fintech”.

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Are you eligible to have crypto.com credit card in Switzerland?
I thought that crypto.com and Binance cards are not eligible for CH…

Just to share my two cents regarding also my experience with bank accounts in Switzerland.

I had primarily Post Finance so far, and everything was pretty good… until last year that they’ve decided to impose a negative interest rate of 0.75%.

That was a direct “stealing” to my view not considering that they also informed us on the last minute about those changes. I am just wondering isn’t any consumer protection rights institute in Switzerland for such cases?

Long story short I decided to open another account with UBS and transfer some of my money there to avoid at least the negative interest rates of PF.

Although the process for opening an account in UBS seems pretty simple my actual experience was terrible, First my online application process didn’t work as expected, so I had finally to send a batch of documents physically by post. After providing all those documents as requested I was contacted again to provide again some documents (which I had already provided before!). After all my account has been opened… and just randomly after about 3 months I get a strange phone call (I guess from compliance department) asking me several things about how and where I found my money and why I opened an account in UBS… I explain to them everything still seems not to be convinced and I got a second and a third call in order to be able to clarify everything. Not to mention that because at the time of opening the account in UBS I had a fixed-term job contract as a consultant (not permanent job) they have declined my request for credit card and they also enormously limited my “investing options” with my UBS account… My only chance to “invest” is still only physically in person in a UBS branch.

UBS for me was a great disappointment, now after all this personal experience I would have gone probably with CS / CSX instead…

Apart from that I have also Revolut - for which I am pretty happy so far (used for transfers / exchanges in other currencies)

What’s the difference exactly between N26, Wise, Revolut, ZAK etc… I mean which are “real banks” offering the protection up to 100k€ and which are riskier?

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I found a very nice review (in German) of the various bank accounts in the German market.Any comment?

looking at the outcomes, DKB is by far the winner. Even if the presenter does.not.put any stress on it, it seems that NURI is also pretty good. Any one having any experience with it?

How do you see this wehn compared to Revolut?