Hypovereinsbank current account

Hypovereinsbank was created in 1998 by the merger of bayerische vereinsbank and bayerische hypotheken- und wechsel-bank.

Headquartered in munich, even though the bank has been part of the international banking group unicredit since 2005.

Hypovereinsbank is one of the largest private banks in germany and offers not only private checking accounts but also business accounts, call money accounts and other financial products.

Free checking account with hypovereinsbank?

Unfortunately, the hypovereinsbank now only offers a free current account for people under 26 years of age (to the start account of the hypovereinsbank). All other persons would have to pay account maintenance fees of at least 4,90€, which is why we would recommend to look for an alternative in our current account comparison.

However, since august 2020, hypovereinsbank offers new customers its pluskonto in the first 5 (!) years without account maintenance fees. The current account is quite good. Obligated to keep it even after the fifth year, of course you are not.

Hypo vereinsbank still has over 400 branches in germany where account holders can get advice or deposit money into their account free of charge. Most bank customers only learn to appreciate local branches when they have "problems". If, for example, the girocard is defective, money can also be withdrawn on presentation of the identity card. With the direct banks, a new card would first have to be applied for, which would not arrive at the customer's home for at least a few days.

Hypovereinsbank current account – an overview of the conditions

From 4,90€ – active account for 4,90€. Otherwise €9.90 (plus account) or. 14,90€ (exclusive account)

Plus account 5 years free for new customers!

15€ – annually for mastercard classic (or this free credit card)

With pluskonto or. Exclusive mastercard account included

Yes – an ca. 7.000 atms of the cash group (commerzbank, deutsche bank u.A.) + shell gas stations

No – currently no starting balance

Strengths and weaknesses of the hypovereinsbank checking account

For a branch bank, hypovereinsbank offers decent conditions, but only people under 26 get a free account. The interest rate on the overdraft facility for the active account is above the level of other branch banks in our current account comparison. Due to the introduction of account maintenance fees at the hypovereinsbank, we believe there are many better current account offers available.

Pluskonto 5 years free use

One reason to give hypovereinsbank a chance is the possibility of paying no account management fees for the first five years. For the plus account, hypovereinsbank is currently offering this to new customers. The pluskonto costs regularly 9,90€ per month and offers some extras:

  • No account fee for 5 years (otherwise 9,90€ per month)
  • Bank and credit card free of charge with the account
  • Cash deposit and advice in the branches
  • Withdraw free of charge abroad at banks of the unicredit group
  • Good banking app (u.A. With bill scanner for bank transfers)

Withdraw money free of charge at all cash group atms

In germany, the free cash supply is guaranteed by the membership in the cash group (u.A. Postbank, deutsche bank, commerzbank). Customers can thus use not only hypovereinsbank's own atms but also the atms of the credit institutions belonging to the cash group free of charge.

However, the cash group's cooperation is limited to ATM withdrawals. You can't deposit cash into your hypovereinsbank checking account at an ATM belonging to a third-party credit institution. Moreover, withdrawals are free of charge only with the normal account card (girocard) and not with the credit card.

Free money withdrawal abroad

HypoVereinsbank Plus Account Cards

Hypovereinsbank was taken over by the italian banking group unicredit a few years ago. When abroad, hypovereinsbank customers can therefore withdraw cash free of charge with their bank card at all banks in the unicredit group. The unicredit group is particularly widespread in southern europe, but has no atms or partner banks outside europe.

Below we list all countries (and the respective banks) in which hypovereinsbank customers have the possibility to withdraw money free of charge from atms. Withdrawals are free of charge only at the respective partner banks.

Free current account with valyou customer program

Unfortunately, the hypovereinsbank has introduced account maintenance fees in recent years and will increase them in 2020. As some compensation for the increased fees, the bank has introduced a benefit program called valyou. Loyal customers are rewarded by a reduction in the account maintenance fee.

Those who use their checking account as a salary account, at least 75.000€ invested with the bank and has at least 5 prodkute of the bank (z.B. Fund savings, credit card, real estate financing, etc.) will even be completely exempt from the account maintenance fee. If you are a loyal customer of hypovereinsbank anyway and do not want to change your bank, you should definitely participate in the program and save fees.

All other persons should better choose a cheaper or generally free checking account and opt for other bank products (e.G., a mortgage).B. Savings or loans) always choose the best and most favorable provider and do not necessarily conclude everything with just one bank. To test the hypovereinsbank, you can currently make good use of the pluskonto, which is offered to new customers for the first five years without an account maintenance fee if you sign up for the valyou program. So in total you save almost $600 in account fees and get a very good checking account at a branch bank for free.

All conditions for the advantage program can be found here

Fazit girokonten hypovereinsbank:

In general, we can only recommend the current accounts of hypovereinsbank to a limited extent. This is because one usually has to pay account maintenance fees. The bank can score points by at least currently offering the plus account for five years without account maintenance fees. After the five years, however, you would have to change banks if you want to avoid account fees completely. If you use hypovereinsbank as your principal bank and are wealthy, you may be able to continue saving fees by participating in the valyou program.

If you prefer to open a generally free checking account, it is better to choose a different bank. If you want a credit card and do not want to pay 15€ a year, you can also choose one of the many free providers (overview free credit cards) or directly open an account with free credit card (z.B. Norisbank).

For those who want an account at a branch bank, we recommend the postbank checking account, which, however, requires a monthly cash inflow of at least 3.000€ free of charge. Fewer extras, but a generally free account is offered by commerzbank. Even better conditions, but no branches, are offered by many direct banks such as z.B. The norisbank or comdirect.

Due to the unavoidable account maintenance fee, opening an account with hypovereinsbank is not compulsory. The advantage program valyou helps to reduce the fees a little, but you are tempted to conclude all your financial products via the hypovereinsbank, which very often means worse conditions than with the competition.

For at least five years, you can currently use the very good "pluskonto" account model free of charge. However, it is important to keep in mind that even this long period of time will eventually end. However, a currently completely free bank does not guarantee that it will not introduce account maintenance fees in the next five years.

Withdraw money for free in the following countries:

  • Bulgaria – unicredit bulbank
  • Germany – hypovereinsbank
  • Italy – unicredit
  • Croatia – zagrebacka banka
  • Austria – bank austria
  • Poland – bank pekao
  • Romania – unicredit tiriac bank
  • Russia – unicredit bank
  • Serbia – unicredit bank
  • Slovakia – unicredit bank
  • Slovenia – unicredit bank
  • Czech republic – unicredit bank
  • Turkey – yapi kredi
  • Ukraine – unicredit bank + ukrsotsbank
  • Hungary – unicredit bank

Money can be withdrawn free of charge with the normal EC card of the hypovereinsbank at the following banks. Before money can be withdrawn abroad, however, a personal limit must be set up. The card must be activated before use abroad. This can be requested in the branch, by phone or via internetbanking.

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