Consorsbank custody account change 2020 - open custody account & secure bonus

Consorsbank custody account change 2020: can the direct bank convince? Attractive bills of exchange & profitable offer Open deposit & secure bonus.

A Consorsbank custody account change has been very attractive for many years now. The online broker attracts all new customers with a deposit change bonus that distinguishes itself from other providers. The offer of the PNB Paribas online broker is quite interesting enough to survive against others without such bonus programs.

We present the offer of the Consorsbank and tell you what bonus you can expect when you change the Consorsbank portfolio can. We'll also tell you what good reasons to switch.

Now open directly to the Consorsbank and share portfolio

Consorsbank with a deposit change with an attractive bonus

The Consorsbank is currently rewarding all custodian changers with a very attractive bonus in the form of a cash bonus. Customers who transfer their portfolio and have a portfolio volume of at least 5,000 euros can benefit from this. The amount of the actual premium is graded according to the portfolio volume:

  • 5,000 euros = 50 euros
  • 10,000 euros = 100 euros
  • 25,000 euros = 250 euros
  • 50,000 euros = 500 euros
  • 100,000 euros = 1,000 euros
  • 200,000 euros = 2,000 euros
  • 300,000 euros = 3,000 euros
  • 400,000 euros = 4,000 euros
  • 500,000 euros = 5,000 euros

The transfer can be worthwhile even for small investors. Of course, customers also have to consider a few conditions. For example, the investor must not have been a customer of Consorsbank or other banks of the PNB Paribas Group within the past six months. In addition, he must hold the portfolio volume for at least 12 months. Securities may of course be sold, but they may not be transferred to another custody account. In addition, the securities must be received by Consorsbank within three months of changing the custody account and transferred by a third-party bank. The Consorsbank also rules out a constant change. Therefore, when calculating the custody account volume, there are no securities that were previously transferred from the Consorsbank custody account to a third-party bank.

Even in the past, the online broker has repeatedly attracted attention with attractive exchange premiums. For a long time, the Consorsbank custody account has rewarded, for example, significantly higher interest on the overnight deposit account.

The Consorsbank custody account change is currently being paid for with an attractive cash bonus. Depending on the order volume, investors can receive up to € 5,000 exchange premium if they use the custody account for at least 12 months.

Now open directly to the Consorsbank and share portfolio

Consorsbank custody account change 2020 - open custody account & secure bonus

Pay do the customers return the premium afterwards with expensive fees?

No, they don't necessarily do that. Of course there are even cheaper brokers than the Consorsbank. However, the fees are fair. Investors do not pay a custody account fee at Consorsbank. In addition, they have to pay a basic price of EUR 4.95 and an additional 0.25% of the order volume for stock orders within Germany, France, Spain and Luxembourg. However, you have to plan at least 9.95 euros.

For many investors, this is a good value, which definitely does not cause too high costs. However, there is also a shortcoming. The transaction fee is limited to a maximum of 69 euros. Investors with large order volumes pay too high fees at Consorsbank compared to other providers. Other brokers could therefore be significantly cheaper for them.

For those who invest long-term and do not frequently intervene in their portfolio structure, the offer of the Consorsbank can be worthwhile even if the order volume is quite large, This is also ensured by the many free services such as interest and dividend payments, annual tax certificates, income statements or order changes and cancellations. There are only a few additional services that have to be paid for at the Consorsbank. Of course, as usual, this mainly applies to services that have to be performed by employees.

On the other hand, if you trade a lot and are therefore interested in using cheap transaction costs, you can do this via the trading account that is provided by the Consorsbank is offered. Here investors have to expect significantly lower fees than is the case in the securities account. The orders at a cost-effective 3.95 euros per trade, however, only apply to orders of up to 20,000 euros.

The Consorsbank premium for custodian changers is attractive, but investors do not have to do so later repay high fees. The Consorsbank offers fair fees, which is only disadvantageous for traders with high trading volumes than many other online brokers.

Now open directly to the Consorsbank and share portfolio

What can you spend $10 on?

Existing customers Angry about the offer to change custody accounts

The premium for the custody account change does not only meet with approval. Many existing customers complain publicly on the website that there are only rewards for new customers with a custody account change to Consorsbank. You want a similar offer for long-term customers and therefore feel somewhat neglected by the Consorsbank. However, there are also existing customers who report having received an exchange premium for existing customers. This problem particularly affects customers who have always kept their custody accounts at Consorsbank and are therefore unable to switch accordingly.

However, if you are an existing customer and carry out at least 100 trades a year, you have the option of switching to the StarTrader Club, There, members receive numerous benefits, including significantly reduced commissions. For conservative investors who are very long-term oriented or small investors who simply cannot switch, the disadvantage remains. It is therefore not surprising that long-term customers sometimes feel somewhat neglected and often think about changing custody accounts in the other direction, i.e. leaving Consorsbank in order to benefit from the exchange premium of other providers.

New customers, on the other hand, can be happy. The response from existing customers shows how attractive the offer really is.

The offer for a Consorsbank custody account change is extremely attractive. Some existing customers would therefore like similar premiums for their long-term loyalty.

Consorsbank custody account change 2020 - open custody account & secure bonus

How does a Consorsbank custody account change?

A custody account change to the Consorsbank is straightforward. How exactly an investor has to act depends above all on whether he is already a customer or not. Since only new customers can currently claim the cash bonus for the Consorsbank custody account change campaign, only the custody account change is really relevant for new customers at the moment "click on the left side. You can then open the corresponding form for new customers using the "Deposit transfer" button.

Here you must define the most important conditions. The broker initially asks whether the prospect is an existing customer, whether he wants to open a joint account or a minor account. He must then provide personal information such as:

  • First and last name and birth name
  • Date of birth
  • Place of birth and country
  • Nationality
  • Exclude US citizenship and US tax liability
  • Tax residence information
  • Contact details such as email and phone number
  • Professional situation

In addition, he can choose a TAN method of his choice. The Consorsbank currently offers either the mTAN via smartphone or a TAN generator. Both options are considered safe and have advantages and disadvantages.

Open the Consorsbank and share account now

After the interested party has given their details, the Consorsbank offers an overview of the information provided, The customer can also request that documents be sent to him in paper form, which can cause additional costs. In addition, he must agree to the legal agreements and data protection. He is also informed that telephone conversations with the Consorsbank are being recorded and has no way to object.

By clicking on "Open account" he agrees to all conditions. But that's not all. The interested party will now receive an order confirmation by email. So that his questions or complications can be assigned more quickly, he also receives a process number that he should write down. He now downloads the account opening application for his own documents, but does not have to sign them. In a final step, he has to prove his identity. This only works through Deutsche Post. The new customer must click on the link provided and provide his telephone number. He then receives all the information he needs to complete the identity process. The Consorsbank then checks the application and sends the opening confirmation and the log-in data.

The customer must then change the Consorsbank account from his old account. For this purpose, he can usually download a form or electronically request the transfer. There is also the option of applying to the Consorsbank for a deposit change. The customer only has to enter the client and recipient and indicate whether he would like to transfer all securities or just a few. In addition, he must mark that the transfer will be carried out without a change of creditor. However, this form does not currently provide for Consorsbank to automatically terminate the old deposit. Accordingly, investors have to carry out this step themselves and can actually instruct their bank directly to transfer the shares to the new custody account at Consorsbank.

Opening an online custody account at Consorsbank is very good handled easily and within a few days. The deposit transfer only needs a single form.

How long does the deposit change take?

The Consorsbank deposit change takes just a few banking days. However, the company also relies on the old bank to cooperate and not to take too much time. However, customers often praise the speed and simplicity of a custody account transfer to Consorsbank. Customers should nevertheless instruct the transfer promptly. After all, the terms for the premium apply to three months as the period in which investors must have transferred their securities. The old broker is usually not in a hurry to transfer the shares.

The change of account usually only takes a few days.

Now directly open to Consorsbank and share portfolio

Consorsbank custody account change 2020 - open custody account & secure bonus

Who is behind Consorsbank anyway?

Consorsbank is now part of the French major bank BNP Paribas. Consors was originally founded as a discount broker and was listed on the stock exchange between 1999 and 2002. It is a branch of Schmidtbank that had financial problems. That is why the takeover took place in 2002 by PNB Paribas, which merged the business of its direct banking subsidiary Cortal with Consors. In 2014 the company was renamed Consorsbank. The private customer division of DAB Bank has also been part of Consorsbank since 2016.

Consorsbank is not only a direct broker, but now offers all the services that private customers can expect from their house bank. Regardless of whether it is a checking account, call money account, loans, mortgage lending or insurance: Consorsbank is very well positioned.

The company is headquartered in Nuremberg and can currently employ more than 800 people. The Consorsbank currently has almost a million customers.

The Consorsbank is an originally German company that is now part of BNP Paribas.

How good is the Consorsbank? Is it worth the switch?

Of course, many investors who are considering a Consorsbank custody account change only want to turn their back on their provider if they can be sure that the Consorsbank has at least the same in their custody account Offers opportunities. At Consorsbank, however, investors hardly have to fear that they will deteriorate compared to the old broker.

The company offers all investment services at a very professional level without charging high fees. The securities account can be used free of charge just like a CFD or EUREX account. Even small investors or very passive investors can use the portfolio accordingly without additional fees. The costs for individual trades depend on the trading volume and range between EUR 9.99 and EUR 69.90.

The selection at Consorsbank is also very good. Customers can currently trade on nine German stock exchanges, and even 22 other stock exchanges worldwide from all over the world. However, the costs are significantly higher here and, with the exception of a few exchanges, amount to at least 54.59 euros. Investors who like to trade internationally can certainly find cheaper brokers for their purposes, but occasional transactions on foreign stock exchanges can still be carried out well. Of course, the Consorsbank also offers the option of over-the-counter trading, which is significantly cheaper.

Open now directly to the Consorsbank and share account

The Consorsbank is increasingly aimed specifically at traders. It offers a special account for this, which is characterized by significantly cheaper order commissions and a good selection of analysis tools. Investors can also use the ActiveTrader trading software.

Seriousness and security of the provider are also out of the question. The Consorsbank is part of the BNP Paribas and is therefore licensed by the French AMF. The French banking regulator also ensures that the Consorsbank is part of the statutory deposit guarantee scheme. In France, this is the Fonds de Garantie des Dépôts et de Résolution (FGDR), which covers up to EUR 100,000. In addition, however, customers are also covered by the voluntary insurance in the German deposit insurance fund of over 120 million euros per customer. In addition, the FDGR has a security guarantee of up to 70,000 euros per customer to provide special protection for securities.

Customers can also request a security loan, which currently has an effective annual interest rate of 5.51% p. a. is offered. Investors at Consorsbank are one of the few brokers in Germany that can even take advantage of fee-based investment advice. In this way, beginners can find a suitable entry point without having to be afraid of not being advised independently.

Another plus point of the company is the good service, which is very often positively mentioned by customers.

The offer of the Consorsbank can hold its own in comparison to online brokers. The offer is varied and comprehensive, the costs are fair and the service is very good. In addition, unlike many German online brokers, Consorsbank can offer a securities guarantee.

Why do investors want to change their custody at all?

Germans are actually responsible for their reputation to switch financial products such as checking accounts or securities accounts very rarely. Once an investor wants to change his online broker, he usually does so for a very good reason. For most investors, a custody account change is particularly worthwhile if they are clearly dissatisfied with one of the characteristics of the broker.

Of course, costs often play a major role in a change request. Anyone who has invested in a branch bank for decades can hardly believe the low fees that online brokers charge. In fact, it is often possible to save a few hundred euros a year. Often it is not even necessary to find the cheapest online broker.

Another important factor is the tradable products and the quality of the stock trading. Even if most private investors do not care that the orders are fulfilled quickly, it is now of course very important that they are executed relatively promptly. In addition, many investors are considering a portfolio change if they cannot use the products they want to use.

However, there is also a special species among investors that changes the broker at regular intervals and so on benefits from different bonuses. That can work, but on the one hand a lot of discipline and overview is necessary, on the other hand the effort is not to be underestimated and is often not worth it.

There are many reasons for a Consorsbank To make depot changes. For many investors, it is not the attractive exchange premium that is decisive, but dissatisfaction with their old broker.

Conclusion: Consorsbank custody account change - good offer for new customers

offers up to € 5,000 cash premium the broker new customers who switch accounts to Consorsbank. The company thus offers all changers a considerable bonus. The conditions are also not too strict, so that investors who are actually looking for a new online broker can often meet the conditions without any problems. The Consorsbank also convinces with good trading conditions and fair costs. The offer is therefore not only interesting for all "deposit hoppers" who permanently leave their provider in search of the best exchange bonuses. Instead, it can also be attractive for private investors who actually want to change their custody account for a good reason and want to use a high-quality broker.

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