Tagesgeld

Introduction

DISTINGO Bank, a brand of the French My Money Bank, offers an instant-access savings account for savers who want to invest flexibly with no fixed term. DISTINGO does not offer its own current account — the instant-access account is intended as a complement to an existing bank relationship, not a replacement for it.

Interest rate

For the first three months after account opening, DISTINGO pays a promotional rate of 3.30% p.a. on deposits up to €150,000. After that, the regular rate of 1.95% p.a. applies, which the bank describes as variable — DISTINGO explicitly reserves the right to adjust it upward or downward at any time. The raw data lists a cap of €150,000 for both interest tiers; whether the regular 1.95% rate also applies to balances above this threshold, up to the much higher overall account limit, could not be conclusively determined.

Terms and fees

Deposits are possible from a minimum of €10, with an overall account limit of up to €10 million. Account opening, account keeping, account closure, and transfers are all completely free of charge. Interest is calculated daily and credited monthly. Withdrawals are capped at a maximum of €50,000 within seven days. Opening the account requires a current account held in the applicant's own name at a bank in Germany, used as a mandatory reference account — DISTINGO itself does not offer current accounts.

Who is it for?

The very high overall account limit of up to €10 million makes the offer theoretically interesting even for wealthier private customers or larger reserves, though the attractive rate applies only to the first €150,000 and only for the first three months regardless. The account suits anyone looking for a high short-term rate on fresh capital who is willing to compare the market again afterwards.

Pros and cons

• 3.30% p.a. for 3 months up to €150,000
• Account opening, keeping and transfers completely free
• Very high overall account limit of up to €10 million
• Daily interest calculation with monthly crediting

• Rate drops to the variable regular rate of 1.95% p.a. after 3 months
• Reference account at a German bank is mandatory
• Withdrawals capped at €50,000 per 7 days

Verdict

DISTINGO's instant-access account impresses with a solid promotional rate of 3.30% p.a. for three months, complete fee freedom, and an unusually high overall account limit of up to €10 million for an instant-access product. After the promotional period, however, the rate drops noticeably to 1.95% p.a. and can be adjusted further by the bank at any time. The account is well suited to earning a high short-term rate on fresh capital; for a consistently high return, savers should compare the market again once the three months are up.