- Checking Account Calculator are up to date and help
- 60 euros per year: A checking account should not cost more
- Nine checking accounts are still free
- has financial tip branch banks and direct banks compared
The Sparkasse Südwestpfalz, based in Pirmasens, is a latecomer to the wave of fee collection. The savings bank will not raise the prices for private current accounts until March 1, 2023, like the Saarbruecker newspaper reported. The basic monthly price for the 70,000 private current accounts will increase moderately by 40 cents to EUR 6.90. There is still a discount if the account is managed online. There have been increases in fees for the 113 million checking accounts over the past few months, and more and more frequently. the Consulting firm ErnstYoung (EY) found out in its bank barometer that this was the case for half of the financial institutions in 2022. The overview it is often difficult to retain. It is not so easy to see through whether your bank is one of those who collect the fees properly or one of those who charge a fair price for the services. We show you how to get your bearings.
Checking account calculators are up to date and help
First important message: The fees for services provided by credit institutions are constantly changing. There is no standard date and no standard amount for this. Each of the 1.1145 banks or savings banks in Germany decides on the fee policy itself. This is what makes things so difficult and requires a lot of attention from customers.
So it’s good that there are professionals watching the market. Specifically, these are: the Stiftung Warentest (after all, she observes the cost development at 160 financial institutions), financial tip, Check24 and Verivox. But still be careful: Although these service addresses are free for customers, they often ask for something in return. Mostly it is your datawhich, for example, arise automatically during a fee comparison check and are of interest to financial institutions.
A worthwhile help tool for cost comparison are Checking account calculator online. The advantage: Most calculators focus on individual needs when comparing costs. Then: The account price is determined by your usage behavior. A role may play whether there is a online only account should be or whether you would prefer to place your orders personally in a branch. Checking Account Calculator financial tip also wants to know whether a monthly receipt of money can be expected, where money is withdrawn (in Germany, Europe, worldwide) or whether a credit card should be part of the account. With the checking account calculator, you can quickly find an account that suits you best. But these computers also have to somehow earn money for their service, you should always keep this in mind.
60 euros a year: A current account should not cost more
Depending on the account model, a change can quickly save 100 euros and more per year. The idea of the is interesting Stiftung Warentest, with a Upper limit to operate for the fees. According to the financial experts, a current account including a Girocard and online bookings should pay no one more than five euros a month or 60 euros a year.
This price is okay if the bank or savings bank processes bookings, provides ATMs and offers advice and secure technology for online banking. The last test shows: Even banks with branches can undercut this limit. Tip of the product testers: Anyone who pays more for a checking account (that could be up to 360 euros a year for a “model person” in the test) should have one Consider switching to a cheap current account.
To compare account fees, the foundation goes from one model person who regularly receives a salary, student loans or pension and only uses the account online. This is the cheapest way of keeping an account. Around 65 percent of current accounts are now online. And this is how the online model uses her checking account. Basic price per month for: 36 transfers (including online banking costs), 274 credits, debits (including payments by Girocard, standing order bookings, credit card statements), 48 Cash withdrawals at ATMs of the institute or ATM network, one Changing a Standing Order (including online banking costs), a Girocard, 12 eelectronic bank statements (mail box).
Nine checking accounts are still free
Nine institutes offer a current account completely free of charge and are accessible nationwide:
- C24 Bank: smart account
- Edekabank: Edeka account
- KT Bank: current account
- My bank – Raiffeisenbank im Hochtaunus: OnlineOnly account
- PSD Bank Nuremberg: GiroDirekt
- Santander: Best Giro
- Sparda Bank: HessenGiro
- VR Bank Dreieich-Offenbach: easyGiro online
- VR Bank Niederbayern-Oberpfalz: My GiroDirekt
Oddly enough Stiftung Warentest counts the range of HypoVereinsbank: PlusAccount to the free accounts, although the model person would have to pay 118.80 euros per year. Further 77 checking accounts Stiftung Warentest has identified that they charge fees of up to 60 euros per year. A total of 451 account variants were tested.
Withdraw cash for free With the Girocard, customers can almost always use the ATMs of the banking group with which you have your account (that’s how it works savings bank network about 23,000 vending machines, the Cooperative banks (Volksbanken, Raiffeisenbanken, Sparda-Banken) about 16,300 vending machines). But there are other possibilities cash free of charge to get: Private banks have joined the associations Cash Group (about 7,000 vending machines, including cash registers at 1,300 petrol stations) and cash pool (about 2,800 vending machines) merged. Trading also pays out cash.
Finanztipp compared branch banks and direct banks
Banks that only offer their accounts online are usually cheaper than providers that have branches. financial tip When comparing costs, assumes that a credit card and a Girocard are always required. If you don’t, you could push the price down. Please note the following: Regional banks offer different account models, including an account where the monthly fee is low, but almost all bookings cost something. It does not matter whether it is a direct debit, a card payment or an incoming payment. Such offers are only cheap if you use the bank account little.
- Deutsche Bank: Active account model, monthly account fee 6.90 euros; Credit card (yearly) 39 euros; Girocard (annually) 0 euros, Total per year: 121.80 euros
- Deutsche Bank: Account model Best, monthly account fee 13.90 euros; Credit card (annually) 0 euros; Girocard (annually) 0 euros, Total per year: 166.80 euros
- Commerzbank: Basic account model, monthly account fee 9.90 euros; Credit card (annually) 39.90 euros; Girocard (annually) 0 euros, Total per year: 158.70 euros
- Commerzbank: Classic account model, monthly account fee 6.90 euros; Credit card (annually) 39.90 euros; Girocard (annually) 0 euros, Total per year: 122.70 euros
- Targo bank: Account model Plus, monthly account fee 17.95 euros; Credit card (yearly) 39 euros; Girocard (annually) 0 euros, Total per year: 110.40 euros
- Targo bank: Account model Plus, monthly account fee 5.95 euros; Credit card (yearly) 39 euros; Girocard (annually) 0 euros, Total per year: 110.40 euros
- Hamburger Sparkasse: Joker account model, monthly account fee 9.95 euros; Credit card (yearly) 36 euros; Girocard (annually) 0 euros, Total per year: 155.40 euros
- Hamburger Sparkasse: Account model Joker Premium, monthly account fee 17.95 euros; Credit card (annually) 0 euros; Girocard (annually) 0 euros, Total per year: 215.40 euros
- Berliner Volksbank: Private giro account model, monthly account fee 13.00 euros; Credit card (annually) 30 euros; Girocard (annually) 0 euros, Total per year: 186.00 euros
- Comdirect: Current account model, monthly account fee 4.90 euros; Credit card (annually) 0 euros; Girocard (annually) 0 euros, Total per year: 58.80 euros
- DKB: Current account model, monthly account fee 0 euros; Credit card (annually) 0 euros; Girocard (annually) 11.88 euros, Total per year: 11.88 euros
- consor bank: Current account model, monthly account fee 4.00 euros; Credit card (annually) 0 euros; Girocard (annually) 12.00 euros, Total per year: 60.00 euros
- ING: Current account model Monthly account fee EUR 4.90; Credit card (annually) 0 euros; Girocard (annually) 11.88 euros, Total per year: 70.68 euros
*Source: Finanztipp calculation, lists of prices and services and websites of the providers (as of July 6, 2022)
The cheapest provider in the comparison is the DKB-Bank with 11.88 costs per year. With some banks, a monthly payment of at least 700 euros is a prerequisite for good conditions. There are also many special regulations that make the account cheaper or more expensive.
Conclusion
After the end of negative interest rates, the capital market has changed radically. There is even savings interest for call and fixed deposits again. The situation is less positive with regard to the costs for the services provided by banks and savings banks. Fee-free accounts are now the exception. With costs of up to more than 350 euros per year, the comparison is worthwhile. The checking account calculator will help you to find the right bank for you. It creates more transparency in an opaque market.
