Swissquote, Degiro or IB

Is this Debit or Credit card?

I would need a VISA debit card so I can use it for online shopping but this guy says DKB doesn’t offer VISA debit cards: Vergleich: DKB + ING + Comdirect

I’d be interested to hear your opinion on his DKB vs Comdirect comparison as well and also on the comments.

Currently it’s a Credit and has been for a long time.

The card debits from a separate card account (which used to be interest-receiving and probably still would be, if interest rates weren’t so low) - which you can top up to enjoy higher spending limits, beyond the probably meagre credit limit for non-residents that don’t receive salary to DKB. This can also be done via standing order. In that sense it works pretty much like a debit card - with the benefit that the card is labeled as “credit” and can be used for offline payments and rental deposits.

There’s a caveat: Don’t be surprised if they switch to issuing debit cards, which seems to have become the trend in 2021 among German banks and DKB’s competitors.

Technically true - they do offer a credit card. Which has (some but) very little downside compared to debit but some upsides (see above).

The credit card has always been integral part of the account - this is why they’ve been somewhat picky about account opening.

Yeah, I have since inception about 10 years ago had a credit limit of e100 :pensive: no problem if topped up before holidays etc though.

That’d suck, I like my euro credit card for avoiding cheeky FX rates and FX surcharges in Euroland.
And I already have a debit card (vpay) from DKB, that’s an integral part of the DKB bank package, no? Don’t you mean pre-pay credit card here, instead of debit card?

How do you pay the credit card invoices avoiding the cheeky FX rates? Transferwise?

It’s a very good and detailed comparison.

All in all, the securities account and trading is better at comdirect. They’ve been focusing on trading, whereas it still looks more like an afterthought DKB. As for ETF investment plans in particular though, I do prefer the (bigger) selection at DKB - and they should be less expensive for transactions >100€.

comdirect does online banking and apps much better, DKB is much more customer-friendly in with their VISA cards, especially if you have 700€ incoming each month.

Hope that sums it up. I’ve pointed out mistakes in their fee schedules to both banks - DKB took a while to reply but actually did change their documents - whereas comdirect basically me not to worry, that their pricing might not accurately reflect the law but assured me that it would be correctly charged in their backend. Make of that what you will.

“Prepaid credit” are a bit of a contradiction in and of itself. Then again, with your 100€ credit limit it may be a rather appropriate moniker. :wink:

I wouldn’t be surprised if they changed to issuing VISA debit cards that debit from the main current account (and made credit cards optional or a premium add-on). So not much of a difference, except for rental deposits. On the upside, less hassle with the separate (but included) card account.

For the “DKB-Cash” VISA, DKB debit it from (first the card account’s balance and then) the current account. There’s no invoices to pay manually.

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Like @San_Francisco already mentioned from the euro current account at DKB.
How get the euro’s there - Transferwise from Migrosbank CHF to my Migrosbank EUR and then SEPA to DKB. Alas I haven’t done this in about 1.5y, since foreign currency expenses (mostly some shopping in D and EU holidays in my case) is practically zero since late 2019 :expressionless:

Is there a point in involving Migrosbank EUR as an intermediary account, when you could transfer from Migrosbank CHF via (Transfer)Wise directly to your DKB account?

Or do you want to keep EUR balances in Switzerland?

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Just throwing this in here: For card transactions and if you are ok with a debit card, Transferwise and Neon would be easier and in the case of Neon also a bit cheaper. Plus, you can use them for any currency, not just EUR and you would also get rid of the foreign transaction surcharge for CHF transactions.

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I shop everyday with the Revolut and Wise debit cards. It gave me enough option, secured ecards for online shopping at a low cost. It is a setup my partner can understand.

No, it `s easy to get the credit limit up. They do not advertise it or document it somewhere, but it is doable. I had simply emailed them and asked to grant credit with a pdf copy of my salary payslip attached years ago. They calculated the S.Fr to € equivalent and granted me in just a week credit limit = 1 mo. net salary.

ps. the extra benefit with this, is that your card`s credit limit is equally applied to (and shared with) your giro account, effectively giving you an overdraft facility, in case of need for a cash payment on short notice and without balance.

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I’ve also wondered about the securities of Interactive Brokers for swiss residents. After some back and forth I’ve got following reply.

As far as I’ve understood assets are covered by $500,000 and cash is covered by $250,000. Can anyone confirm? Thanks in advance

My question:

I would like to know about the account protection. There’s following page which declares a coverage of $500.000 and $250.000 for cash (Interactive Brokers Group Strength and Security - Account Protection | Interactive Brokers LLC). But this just applies to US and UK citzens. I would like to know the conditions for swiss residents. I think the conditions are not the same as IBKS is not covered by SIPC in Europe after Brexit.

Answer of Interactive Brokers:

You may note that the entity under which your account is managed depends on the Country of your Legal Residence (COLR). As per your current COLR (Switzerland), your account will be managed under the IB-UK entity.

Please note that with regard to the assets in the ordinary account, funds and assets of Interactive Brokers U.K. Limited (“IB UK”) customers are maintained at Interactive Brokers LLC (“IBLLC”). Customer securities accounts at IBLLC are protected by the Securities Investor Protection Corporation (“SIPC”) for a maximum coverage of $500,000 (with a cash sublimit of $250,000) and under IBLLC’s excess SIPC policy with certain underwriters at Lloyd’s of London for up to an additional $30 million (with a cash sublimit of $900,000) subject to an aggregate limit of $150 million. Futures, and options on futures are not covered. As with all securities firms, this coverage provides protection against failure of a broker-dealer, not against loss of market value of securities. For more information about SIPC and answers to frequently asked questions (such as how SIPC works, what is protected, how to file a claim, etc.), please refer to the SIPC and FINRA websites.

Client money in the -F account is entirely segregated from IB UK’s own money. In the event of a failure of an authorized firm, clients’ monies held in the segregated accounts will be returned to the clients rather than being treated as a recoverable asset by general creditors. If there was a shortfall, the client may be eligible to claim for compensation from the Financial Services Compensation Scheme (“FSCS”).

Please refer the below link for more information on IBKR’s Financial Strength and Security:

Please let us know if you require further assistance.

Confirm as in, has it happened to me and did it work?
Fortunately not…

I’m not sure why you ask forum members to confirm when you received a very clear answer from IB itself?

Just to double check if my english was good enough or if there’s something I’ve overseen. It’s about some money. Hope this bothered you not too much.

I don’t mind to be bothered (I always am!) and wasn’t trying to be mean, I genuinely wondered if there was anything missing from the statement that you were looking for.
I wish I had $ 250.000 of cash I forgot about in my IB account :slight_smile:

Hi Vanessa,
did you solved your problem ? As I have the same situation as yours… and thought about it last week-end, I would probably stay with SQ for doing long time investments operations and use other cheaper brokers for day/swing trading only as DeGiro, Flow Bank, etc.
Please let me know what is your solution or what you think about mine.
Thanks & Regards !

Have a look :

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Have a GOOD luck: Auto FX fee goes up from 0.10% to 0.25%. They do never communicate the price increases!

Also this new flat handling fee of 0.50 EUR doesn’t make small transactions cheaper!


This is terrible news, I already found the initial 0.10% quite bad when exchanging from CHF. In fact in my specific case buying only ETFs on DEGIRO from their free ETF list makes it 2.5x more expensive…

Looks like everyone nowadays is trying to make money on exchange rates and trying to hide this as good as possible.


4 posts were split to a new topic: Swissquote, Degiro or IB [2023]