Deutsche Bank review

The account runs without a monthly charge, with a monthly fee of €0 and a minimum deposit of €0, so there is no balance threshold to clear before it works. The site median monthly fee is €0, which puts this account at the norm for cost.

Deposits sit under the EU deposit guarantee scheme, which covers EU DGS up to EUR 100,000. The provider is Deutsche Bank AG, supervised in Germany by the Europäische Zentralbank (EZB) and BaFin, the Federal Financial Supervisory Authority, so the savings sit with a supervised bank.

Access is on demand at any time with no notice period, and this is an easy access account rather than a fixed term one. Withdrawals go only to the reference account you define, so keep that account open for the life of the savings.

The headline rate is 0.5% and the rate type is variable, so the interest on a balance can move with the bank's pricing. That places it at 402 of 473 on headline rate, against a median of 3%.

Yes. The account is listed for students and teens (student and teen), and the pricing backs that up: a monthly fee of €0 and a minimum deposit of €0 mean a younger account holder can start with a small balance and add to it over time.

Free cash machine withdrawals are part of the account (free atm), which matters for someone withdrawing locally. Support runs on phone, email and help centre, so a question about a charge or a card can be raised by phone, by email or in the help centre.

Currency conversion costs 0.5%, in line with the site median of 0.5% but above the 0% charged by the cheapest quarter of brands compared. Local bank details are an IBAN (iban), so euro payments are straightforward.

Paper-based transfers are charged on one of the current accounts and free on the other, while online and terminal SEPA transfers are free. Both sit alongside a monthly fee of €0 and a minimum deposit of €0 on the savings side.