comdirect bank AG: €75 for Switching, a Rhetorical Leap in a Low‑Yield Era
Comdirect bank AG, a listed German financial institution trading on the Boerse Stuttgart under ticker COMD and boasting a market cap of €1.98 billion, has just announced a €75 incentive for new customers who migrate their checking accounts from other banks. The promotion, unveiled on 25 January 2026 via Business Insider, is a direct response to the erosion of interest rates on deposit products across the eurozone. While the European Central Bank’s policy rate has steadily slipped, prompting most banks to slash their own savings offers, comdirect remains intent on capturing market share through cash‑incentivised customer acquisition.
The €75 Switch Incentive – A Strategic Move
The €75 bonus is not merely a marketing gimmick; it represents a calculated bet that the bank can lure customers away from competitors that have largely abandoned aggressive deposit offers. The promotion is limited to those who open a new giro account and complete the online transfer of funds from their existing bank. By tying the reward to a tangible action, comdirect ensures that the incentive translates into a permanent relationship rather than a one‑off sign‑up bonus.
The Broader Context: Falling Deposits and Rising Competition
The recent January 23 update from Morgenpost illustrates the broader shift. While banks such as 1822direkt and Norisbank temporarily raised their Tagesgeld rates to 2.55 % and 3.33 % respectively, these were short‑lived spikes designed to attract new deposits before reverting to the prevailing market rates. Even with these temporary gains, the overall environment remains unattractive: depositors are left with rates that barely exceed the 0.60 % floor that 1822direkt offers after six months, and the standard 0.75 % for Norisbank post‑promotional period.
Comdirect’s €75 offer is therefore a more aggressive stance. By rewarding the customer upfront, the bank is effectively subsidising a modest deposit that would otherwise be negligible in a low‑interest landscape. This strategy signals an ambition to dominate the “online brokerage” niche, where comdirect already offers home mortgages, closed‑end funds, and a comprehensive securities platform.
Interest Rate Dynamics and Their Implications
The concurrent news on loan rates underscores a similar competitive scramble. The Morgenpost article from 23 January notes that banks like ING and DKB are trimming their mortgage rates by up to 0.15 percentage points for borrowers who meet specific criteria. Though not directly related to comdirect, these developments reveal a market where financial institutions are willing to undercut each other in order to secure high‑value customer segments.
In the deposit arena, the situation is even more stark. After the ECB’s rate cuts, nearly every major German bank has slashed their Tagesgeld and Festgeld offers to stay aligned with the new policy rate. Thus, comdirect’s €75 incentive is not just a promotional tactic; it is a calculated move to capture customers who are otherwise disillusioned by the lack of meaningful returns on their savings.
Conclusion: A Bold Statement in a Stagnant Market
Comdirect’s latest promotion is a clear sign that the bank is prepared to spend money to win customers in an era where the alternative is simply to let deposits evaporate into the market’s low‑yield pool. By offering €75 for switching, the bank positions itself as the only viable choice for customers seeking both an online banking solution and a tangible reward for their loyalty.
In a market that has become increasingly complacent with minimal interest returns, comdirect’s move could very well set the tone for the next wave of competitive incentives. Whether this strategy will translate into sustained growth remains to be seen, but it is undeniable that the bank has chosen to play aggressively in a space that has, until now, been dominated by price‑elastic, low‑margin offers.
