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.