Online-Konto

TARGOBANK Online-Konto: a salary account with conditions

TARGOBANK's Online-Konto targets employees, apprentices, students, and retirees who want a digital checking account that still offers branch support. TARGOBANK offers the account online, by phone, and in branch - unusually broad reach for an account with "online" in its name.

Account fee and conditions

According to TARGOBANK's current offer page, the Online-Konto is free when at least €600 in salary, pension, or a comparable payment is credited each month. If this condition is not met, a monthly account fee of €3.95 applies. This is an important nuance beyond the simple claim of a "free account": anyone who does not route regular income into the account actually pays a fee. No account-opening bonus is listed on the current offer page.

Card, cash withdrawals, and app

The account includes a Visa debit card at no extra cost. An optional credit card can also be added to the account; no cost details for it appear in the source data, so interested applicants should ask TARGOBANK directly for current terms. Contactless payments up to €50 do not require a PIN. Cash withdrawals at TARGOBANK's own ATMs are free domestically; other banks' ATMs may charge a fee depending on the card type. Abroad, the bank advertises free cash withdrawals worldwide when the "Gratis-Cash" add-on is activated. Cashback at participating retailers' checkouts is also free up to €200. The TARGOBANK app offers a digital budget book with automatic expense categorization, graphical breakdowns of income and spending, and management of transfers and standing orders.

Overdraft rate

TARGOBANK charges 8.16% per quarter for the arranged overdraft facility. If the account is overdrawn beyond any arranged limit (tolerated overdraft), the same 8.16% rate applies, but on an annual basis. Both figures sit in the mid-range compared with the market - anyone who regularly dips into the red should factor this rate into their choice of account.

Deposit protection

Deposits in the Online-Konto are protected up to €100,000 at 100% via the Entschädigungseinrichtung deutscher Banken GmbH - Germany's standard statutory protection.

Who is this account for

The offer suits employees, retirees, apprentices, and students with a regular monthly inflow of at least €600 who also value branch access or phone support and occasionally withdraw cash abroad. Anyone who cannot route regular income into the account should factor the €3.95 monthly fee into their cost calculation. The account is explicitly aimed at all four of these groups - employees, apprentices, students, and retirees - according to the offer.

Opening the account

The account can be opened online, by phone, or in a TARGOBANK branch. A switching service is available that automatically transfers standing orders and direct debits from your previous bank.

Pros and cons

• Free account management with salary inflow from €600/month
• Visa debit card included at no extra cost
• Free worldwide cash withdrawals with Gratis-Cash
• Branch, phone, online, and app all available together

• €3.95/month fee without sufficient inflow
• No visible account-opening bonus
• Domestic third-party ATMs may charge a fee

Verdict

The TARGOBANK Online-Konto is a solid salary account for anyone who reliably deposits at least €600 a month and appreciates a mix of branch, phone, and app access. Without that inflow, the €3.95 fee noticeably erodes the cost advantage - worth comparing against unconditionally free online accounts.