Offer of free current accounts decreases

According to the magazine Finanztest, picked up by Tagesschau, there are fewer and fewer offers for free checking accounts. 77 Account models from 165 Banks and savings banks were checked. Only twelve salary or pension accounts were free of charge without any conditions. A year ago there were two more – 14.

Note: As “free” you only considered current accounts for which there were really no conditions (e.g. minimum incoming money per month). Stiftung Warentest therefore only defines accounts as free for which no basic fee is charged, as well as account statements, bookings, the Girocard and withdrawing money from machines in the bank’s own pool without fees. As a result, the offers of many direct banks are not taken into account.

In addition to the decrease in the number of free accounts, the number of “cheap” accounts also decreased. She is from 77 to 67 Accounts dropped. Accounts that cost a maximum of 50 euros per year as a basic fee are considered “cheap”. Maybe also interesting: The most expensive evaluated account management costs 165 euros per year. In addition, the test unfortunately revealed that many banks are now also holding out for services that were previously free. For example, the Girocard often costs a fee.

The banks tend to be more customer-unfriendly than vice versa. For example, many banks are rather unmotivated to correct illegal fee increases from the past few years. BaFin continues to receive many complaints here. Even the rising interest rates in the euro zone would not have changed much overall in terms of the banks’ strategy. Apparently there is no great need to catch customers with new and particularly attractive offers.

Nevertheless: Many banks have either abolished the custody fees again or at least increased the allowances. In the meantime, a number of institutes had negative interest from amounts of 60.000 or even just 02. euros charged. In any case, it is not advisable to simply park such sums in the current inflation on the account, but it is to be welcomed that there is more freedom again.

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