Basic payment account under the Payment Accounts Act (ZKG)

A basic payment account under the Payment Accounts Act (Zahlungskontengesetz – ZKG) is an account with basic payment functions. Providers must open such an account for you if the requirements under the ZKG are met.

Branch account

Account management is offered at the branch, typically including the following payment services: account opening, applying for a payment card, credit transfers, standing orders and paper-based account statements.

Accounts can be both online and branch accounts at the same time.

Online account

Account management is offered online, typically including the following payment services: account opening, applying for a payment card, credit transfers, standing orders and paperless account statements.

Accounts can be both online and branch accounts at the same time.

Banking app

If you manage your account using a banking app, most payment services are offered as an application (app) for a mobile device. At a minimum, a banking app will enable you to check account information and execute credit transfers.

Authentication procedure

You use the authentication procedure in order to verify your identity to the account provider when using your account online. You should ask the account provider which authentication procedures are covered by the monthly fee.

Account with special condition

The opening of the account or the fee offered may depend on a special condition, e.g. belonging to a specific group of persons or a minimum pay-in.

Minimum pay-in

Opening an account or the fee offered requires that regular payments of a certain amount are made into the account.

This comparison website provides an overview. Please contact the relevant account provider for details.

Account for school-aged children

This account is aimed at children and teenagers. The conditions can vary significantly.

This comparison website provides an overview. Please contact the relevant account provider for details.

Trainee/student account

This account is aimed at trainees and students The conditions can vary significantly.

This comparison website provides an overview. Please contact the relevant account provider for details.

Salary account

A salary has to be regularly paid into these accounts. The conditions can vary significantly.

This comparison website provides an overview. Please contact the relevant account provider for details.

Retiree/pensioner account

This account is mainly aimed at retirees and pensioners. The conditions can vary significantly.

This comparison website provides an overview. Please contact the relevant account provider for details.

Account with other special conditions

Examples of other special conditions:

– Purchases of cooperative shares or members’ shares or

– Use of further bank products

This comparison website provides an overview. Please contact the relevant account provider for details.

Number of branches in Germany

Number of branches at which payment services are offered.

Postcode(s) of the branches

Providing a postcode enables you to filter branches by region and search for them in a targeted manner.

Number of ATMs in Germany

Number of ATMs at which you can use a payment card linked to the account to withdraw cash free of charge in Germany. You can find further details in the information provided about the relevant debit or credit card.

Free-of-charge cash withdrawals from ATMs abroad

This tells you whether you can use a payment card that is linked to the account to withdraw cash free of charge from ATMs in other countries.

Statutory deposit guarantee scheme

Statutory deposit guarantee schemes protect you from losing your deposited funds if the account provider becomes insolvent. The statutory deposit guarantee generally protects deposits of up to €100,000 per customer at each institution.

Voluntary deposit guarantee scheme

Voluntary deposit guarantee schemes are an additional form of deposit protection that increase the guaranteed amount above the minimum statutory level. Account providers are not obliged to join any voluntary deposit guarantee scheme.

Authorised (arranged) overdraft

An authorised overdraft is an overdraft that has been arranged. The account can be charged up to an agreed amount even if the balance on the account is not sufficient. It is generally necessary to pay overdraft interest for doing so.

Unauthorised overdraft

An unauthorised overdraft is when you use funds in excess of your account balance or your contractually agreed overdraft limit. Account providers generally apply interest in such cases. They may also decline the transaction.

Credit interest

Credit interest is the percentage interest rate that the account provider offers on the account balance.

Deposit maintenance fee

The account provider can charge a deposit maintenance fee for holding the account balance. The deposit maintenance fee is calculated as an annual percentage of the total account balance or of a portion of the balance.

Issuance of a credit card

Both recurring and one-off fees can be charged for a credit card. Such fees may be charged, for example, for the initial issuance of the credit card or for providing it on an continuous basis.

Cash withdrawal with credit card at provider’s own ATMs

Cash withdrawal in euros with credit card at provider’s own ATMs within the EEA.

Cash withdrawal with credit card at third-party ATMs

The customer uses the credit card to withdraw cash in euros at a third-party ATM within the EEA.

Fees that might be additionally charged by the ATM operator are not stated here.

Cash withdrawals in foreign currency with credit card at third-party ATMs

The customer uses the credit card to withdraw cash in a foreign currency (not euros) at a third-party ATM.

Fees that might be additionally charged by the ATM operator are not stated here.

Paying by credit card in euros

The customer uses the credit card to pay for goods or services in euros within the EEA.

Paying by credit card in foreign currency

The customer uses the credit card to pay for goods or services in a foreign currency.

Account statements by post

The fee for account statements by post is stated without postage costs.

Additional postage costs may be charged.

Bank statements at terminals

No help text is available for this term yet.

Online account statement

No help text is available for this term yet.

Online credit transfer

Credit transfers via a banking app are also considered online credit transfers.

Credit transfer at the counter

No help text is available for this term yet.

Credit transfers at terminals

You can place a credit transfer order at the account provider’s self-service devices (terminals).

Credit transfers by telephone

You can also place a credit transfer order by phone.

Other paperless credit transfer

No help text is available for this term yet.

Other paper-based credit transfer

Orders that result in increased expense for the account provider (e.g. via fax, post etc.) are deemed paper-based credit transfers. This includes putting transfer forms into the account provider’s letterbox.

Instant credit transfer

Instant credit transfers enable account holders to settle payments within the SEPA area within seconds regardless of bank business days, including at night and at weekends. Instant credit transfers are also referred to as “instant payments”.

Crediting a transfer

The funds for a credit transfer in euros from within the EEA are credited to your account.

No details are provided on fees for crediting a credit transfer from outside the EEA or on currencies other than the euro.

Justified refusal to execute a credit transfer order

The account provider can refuse to execute a credit transfer order if, for example, the account balance is insufficient.

The fee is charged if, for a justified reason, the account provider does not execute a credit transfer order in euros within the EEA.

Paper-based set-up of a standing order

Setting up a standing order is deemed paper-based if doing so results in increased expense for the account provider (e.g. set-up via fax, post etc.).

Paperless set-up of a standing order

Setting up a standing order is deemed paperless if doing so does not result in any increased expense for the account provider, e.g. the standing order is set up online.

Paper-based amendment to a standing order

Paper-based amendments to standing orders are deemed to be available if such amendments result in increased expense for the account provider (e.g. changes made by fax , post etc.).

Paperless amendment to a standing order

Paperless amendments to standing orders are deemed to be available if such amendments do not result in any increased expense for the account provider, e.g. changes to the standing order are made online.

Execution of a standing order

Executing a standing order means that a fixed amount of money is regularly transferred from your account to another account.

Direct debit

The details relate to honouring direct debits in euros within the EEA, not to setting up a direct debit.

Justified refusal to honour a direct debit

If the account balance is insufficient, the account provider can refuse to honour a direct debit.

The fee is charged if, for a justified reason, the account provider does not honour a direct debit in euros within the EEA.

Cash deposit at the counter

It is possible that any fee for cash deposits at the counter might only cover

– a specific type of cash deposit,

– a specific number of cash deposits or

– a specific amount of cash being deposited.

Cash withdrawals at the counter

It is possible that any fee for cash withdrawals at the counter might only cover

– a specific type of cash withdrawal,

– a specific number of cash withdrawals or

– a specific amount of cash being withdrawn.