Immediate overdraft facility for the free current account
This is the second article in the series about how to optimally set up and use the Comdirect current account. At the end, you will see that a change is worth the trouble (at least, if you are still customer of one of the many “classic“ banks).
Only 5 days after the account application – and there was even a weekend in between – I received the first welcoming mail of the Comdirect. Already two days earlier, I was sent an e-mail with the message that my application for account opening has been received and has been approved.
Bank statement and overdraft facility (credit line of the overdraft facility and of the Visa credit card) at my first login to the new account at the Comdirect. (www.comdirect.de)
Euros 2,000 overdraft facility
Immediately means without waiting for the salary payment or showing payslips. The Comdirect Bank granted an overdraft facility line of Euros 2,000.
Additionally, there is Euros 1,000 credit line> for the free Visa credit card. So, one can say that the banks gave me a vote of confidence of Euros 3,000.
Euros 3,000 vote of confidence!
This is incredible, if you consider that one does not even get a EC-card at the Deutsche Bank without having to show a proof of regular salary payments!
The Euros 2,000 immediate overdraft facility are probably nothing special, as I certainly do not belong to the top earners of this country! In order to take care of my children, I currently work part-time and have a monthly payout amount of Euros 1,083.18.
Extract of my payslip that the Comdirect does not even know! In spite of the fact of part-time work, I am a creditworthy new customer of the Internet bank.
At my account opening, I carefully stated a net income of Euros 1,000!
If you are also working part-time, you will probably be pleased with an immediate overdraft facility at the Comdirect Bank too. This is a big difference to most banks I know.
If you have a higher income, then you can expect a higher credit line!
I applied for the overdraft facility of Euros 3,000, because I have inquired previously and I was told that it is granted up to the 3 time amount of the monthly net income.
That I was granted a vote of confidence already from day one in the amount of Euros 2,000 is really amazing and I will surely use it in a responsible manner. Additionally, there are Euros 1,000 for the credit card.
Later on, this amount could even be increased, if the bank can see a frequent account usage. Fortunately, I do not like to slip into the red. However, it is good to know that the bank is willing to grant this credit line even for new customers.
Schufa-query (credit investigation company) obligatory before granting the credit
Of course, the bank won´t provide an immediate credit double the amount of the net income for everyone without checking the creditworthiness. The loan decision is probably based on a sophisticated system of creditworthiness rating.
For this, the Comdirect made a Schufa-query about me, as you can see in the following chart:
The bank made a Schufa-query first, then the current account and the credit cards were entered consecutively.
Afterwards, the bank entered the current account and the credit card. Every citizen can obtain access to the own Schufa-data and I really want to recommend this to everyone.
Immediate and complete usage of the new current account possible!
Thanks to the immediate overdraft facility, I can use the current account of the Comdirect right from the beginning and do not have to wait until the next salary payment. Out of fairness, I will transfer my salary payments now to my Comdirect account. In the end, Comdirect treats me very fair too!
Further experiences with the Comdirect Bank will follow and here you can find the link, if you also want to apply for the account at the Comdirect: www.comdirect.de.
More frequently read articles about current accounts in Germany:
- DKB with Visa Card – Free of Charge!
- Number26: bank account for smartphone
- Online account with prepaid MasterCard
More articles of this Comdirect-series (in German language):
⇐ Part 1 (Current account application) | ⇑ Comdirect-overwiev | Part 3 (first transfer) ⇒
Hey there!
I’ve just opened an account with comdirect and I would also like to use it to get my salary into this account.
On account opening, I asked for an overdraft of around 1000 Euro (almost 1/3 of my net salary) which was rejected. Then I asked for less which was rejected too.
I am new in Germany, so no Schufa rating! I wanted to see what you recommend to get an overdraft. I would need this facility before getting my first salary.
For instance, can transferring some money in/out help?
Best
Hello!
Please consider: You are opening an account with a direct bank, where you are not known, and there is no information about you at SCHUFA, because you are still new to Germany. Why should a bank give a loan to somebody they do not know, and without any securities?
The best way to establish a good score and gain a good credit line, is to use the account and have your salary transferred there. Good luck!
Maybe you would like to use the account for three months and then ask the bank about that credit line.