The almost most important account of every citizen is the account that is used for the processing of cashless payments. As well as any employed or self-employed needed a checking account, because both wage and corporate profits in the normal case be paid not in cash. Everyone may open a checking account in Germany, he may freely choose the Bank and change at any time. The customer may cancel at any time without any notice a checking account, the Bank may require any fees for it. In principle, everyone has the right to open a checking account and a new customer may not be rejected by a Bank, so long to run the account purely on a prepaid basis. For credit balance in a checking account, there are none or only a very low interest rate under normal circumstances, for the investment it is not suitable at all, here are other forms of investment. For this is the possibility for many banks, for his giro account account available frame extended a credit request, in which the Bank admits. In plain language, this means that the customer must hit the account at any time by a predetermined amount, the Bank admits a flexible credit him for it.
For it is but also the interest rate correspond to high. He is usually in the range between 11% and 15%, individual banking institutions can ask for even more. For the operation of a giro account account maintenance fees are due, at many banks either fixed cost or on the basis of the existing reservations. These fees are quarterly automatically deducted from the account. They are faulty, must contradict the customer within six weeks. Now is changing the image of the typical checking account, just direct and online banks offer the free current account and also more classic brokerages have free checking account in the portfolio. For this there mostly basically free checking accounts, which are only paid upon completion of the training, trainees, students and students occupy a special position here.