BaFin - Navigation & Service

Stand:updated on 30.05.2022 | Topic Consumer protection Products from banks

You can find a preliminary introduction to bank services here. We briefly introduce the most important products and answer frequently asked questions on them. If you need further details, you can call the BaFin consumer helpline.

Cur­rent ac­count

Almost everyone needs a current account (Girokonto) in order to receive credit transfers and make cashless payments.

Ba­sic pay­ment ac­count

Since the introduction of the German Payment Accounts Act (Zahlungskontengesetz – ZKG) on 19 June 2016, all consumers legally residing in the European Union have been entitled to hold a basic payment account. This includes persons without a permanent place of residence and asylum seekers. Persons without a residence permit who cannot be deported due to legal or factual reasons (persons with a suspension of deportation) are also entitled to hold such an account.

Pay­ment cards

From girocards and debit cards to credit cards – a wide range of options currently exists for withdrawing cash and for cashless payments both online and in shops and restaurants. The following sections outline the advantages and disadvantages of the various types of cards as well as what you should bear in mind when obtaining and using them.

Call de­posits

Call deposits are a financial investment without a fixed term with variable interest rates. This means that the bank may increase or decrease the interest rate at any time. The interest rate is based, among other things, on the current market interest rate. Balances on call deposits accounts are available at any time. Call deposits are suitable for customers who are looking for a rather conservative, safe investment to preserve their assets with higher interest rates than the classic savings book.

Term de­posits

Since the interest rates are fixed and guaranteed, the time deposit offers a high degree of planning security. It is therefore suitable for those customers who prefer a conservative, secure investment to preserve their assets.

Sav­ings bonds

Savings bonds are an option for saving if you prefer a medium-term investment. Provided that the deposit guarantee applies, the savings certificate is a safe financial product for investors who do not want to expose their assets to the risk of loss and therefore prefer a conservative form of investment for the purpose of asset accumulation and asset preservation.

Sav­ings ac­counts

The savings account is a financial investment without a fixed term, where the balance usually earns variable interest. The savings account is suitable for investors who prefer a conservative, safe investment to build up reserves and do not need the flexibility of a call money account. The savings book is probably the best-known savings account.

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