Deutsche Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Deutsche Bank suits students and teens in Germany who want a bank licence, a variable savings rate and free cash machine withdrawals at a branch network. The account works as easy-access savings, with money available on demand, but the monthly fee of €6.90 sits well above fee-free rivals.
Key facts
- Best for
- Students and teens in Germany who want a bank account with a variable savings rate and no minimum deposit.
- Monthly fee
- €6.90↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Currency conversion fee
- 0.5%↗
- Local account details
- IBAN↗
- Transfer fee
- Paper-based (Beleg) transfers 1,50 EUR on the AktivKonto, 0 EUR on the BestKonto; online and terminal SEPA transfers free↗
- Legal entity
- Deutsche Bank AG↗
- Headquarters
- Germany↗
- Founded
- 1870↗
- Support channels
- Email, Phone, Help-centre↗
- Audience
- Students, Teens
- Pricing model
- No monthly fee
- Features
- Free ATM withdrawals
- Official website
- deutsche-bank.de
Pros and cons
Pros
- Deposits are covered under EU DGS up to EUR 100,000, and the bank is supervised by the European Central Bank and BaFin in Germany.
- Easy-access savings pay 0.5% at a variable rate, with a minimum deposit of €0.
- Cash machine withdrawals are free on the listed account features.
- Support runs through email, phone and help centre for anyone who needs a person rather than an app.
Cons
- The monthly fee of €6.90 sits far above the fee-free norm, with bunq charging €0.
- Spending or withdrawing abroad carries a conversion fee of 0.5%, which adds up on holiday spending.
- Paper-based transfers are charged on the AktivKonto, so slip-based payments are the pricier route.
Who it suits
- Students and teens in Germany, the audiences the bank lists for its accounts.
- Anyone who wants euro savings held at a bank and can take the money out on demand.
- Account holders who want free cash machine withdrawals and support by email or phone.
Who should look elsewhere
- Anyone who wants a fee-free everyday account, since bunq charges a monthly fee of €0.
- Budget-first shoppers, since Pixpay FR lists a monthly fee of €3.99.
Fees and currency costs
The everyday account carries a monthly fee of €6.90, well above the €0 seen across everyday accounts. Withdrawing or paying abroad adds a currency conversion fee of 0.5%. Online and terminal SEPA transfers are free, while paper-based transfers are charged on the AktivKonto and cost nothing on the BestKonto.
Safety of your money
Deposits are covered under EU DGS up to EUR 100,000, so eligible balances are repaid by the scheme if the bank fails. The account sits with Deutsche Bank AG, supervised in Germany by the European Central Bank and BaFin, so the money is held at a bank rather than an e-money provider.
How Deutsche Bank compares
9.3 vs 8.7
9.3 vs 8.6
9.3 vs 8.0
9.3 vs 8.9
9.3 vs 9.1
9.3 vs 9.2
9.3 vs 8.7The bunq Spain Bank Account also lists a monthly fee of €0, so the fee saving carries over.
9.3 vs 8.7
9.3 vs 8.7Pixpay FR lists a monthly fee of €3.99, lighter than the charge here.
9.3 vs 9.0
9.3 vs 8.7
9.3 vs 9.5
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9.3 vs 9.0
9.3 vs 8.9
9.3 vs 8.9- 9.3 vs 8.9
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9.3 vs 8.1- 9.3 vs 8.1
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9.3 vs 8.0
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Where Deutsche Bank is available
- Available
- Germany
- Licence in Germany
- European Central Bank (ECB), checked September 26, 2026
- Licence in Germany
- Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does the Deutsche Bank everyday account cost each month?+
The account charges a monthly fee of €6.90. Online and terminal SEPA transfers stay free, so the fixed monthly cost is the main thing to weigh against rivals charging €0.
How much interest does the easy-access savings pay?+
Savings pay 0.5% at a variable rate, and the balance stays easy-access, so money can be taken out whenever it is needed. The minimum deposit is €0 and there is no term to serve.
Can I get at my savings at any time?+
Yes. The savings balance is easy-access, with money available on demand and no notice period. The catch is that withdrawals only go to the reference account you set up, so another account cannot be topped up from it.
What happens to my money if the bank fails?+
Deposits are covered under EU DGS up to EUR 100,000, so the scheme compensates eligible balances. Deutsche Bank AG is supervised in Germany by the European Central Bank and BaFin, which is the point to check when the safety of the money matters most.
Is the currency conversion fee high for spending abroad?+
Spending or withdrawing abroad carries a fee of 0.5%, close to the site median of 0.5%. Card purchases and foreign cash both add up over a trip, so the fee is worth weighing before opening the account for travel.
Are cash machine withdrawals free?+
Cash machine withdrawals are free on this account, which cuts one of the usual everyday costs. It also gives you a local IBAN for incoming payments, and help is available by email, phone and through the help centre.
Who is this account aimed at?+
Deutsche Bank lists students and teens among the audiences for its accounts, so it fits younger German account holders. The easy-access savings and free cash machine withdrawals line up with everyday spending rather than long-term fixed saving.
Sources
- de.wikipedia.org/wiki/Deutsche_Bank checked September 26, 2026
Backs: Founded
“Gründung 10. März 1870 in Berlin; Neugründung 1. Januar 1957”
- deutsche-bank.de/pk/konto-und-karte/konten-im-ueberblick/... checked September 26, 2026
Backs: Audience, Features, Pricing model, Transfer fee
“Kostenlose Bargeldein/-auszahlung an Deutsche Bank Geldautomaten; Kostenlose Bargeldauszahlung in über 30 Ländern (AktivKonto und BestKonto)”
- deutsche-bank.de/pk/konto-und-karte/services/abheben-beza... checked September 26, 2026
Backs: Currency conversion fee
- deutsche-bank.de/pk/lp/rechtliche-hinweise.html checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Support channels, Licences
“Telefonisch: ... unter 069 910-10000; E-Mail: Schreiben Sie uns an deutsche.bank@db.com”
- deutsche-bank.de/pk/service-und-kontakt/services/konditio... checked September 26, 2026
Backs: Local account details, Monthly fee
- deutsche-bank.de/pk/sparen-und-anlegen/sparen/flexgeld.html checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“variabler Zinssatz in Höhe von derzeit 0,50 % p.a. [...] Stand: 1. Juni 2025”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Currencies.
Related by the facts
Deutsche Bank
Students and teens in Germany who want a bank account with a variable savings rate and no minimum deposit.