Use your current account correctly: recognize savings potential

Use your current account correctly: recognize savings potential

The checking account is a fundamental matter in finance, but there are some pitfalls that should be avoided. Many bank customers in Germany have to pay account management fees, although many checking accounts are free as long as regular incoming money is recorded. Banks often earn twice as much from customers by charging high fees for accounts, offering no or low interest on balances and charging high overdraft interest rates.

The availability of a Girocard, which is often indispensable in Germany, is an important aspect when selecting an account. While direct banks may not offer the Girocard as standard, there are options such as Consorsbank or C24 Smart to get a Girocard. Customers who value proximity to their bank should keep in mind that branches often have restricted opening hours, which may be unsuitable for working professionals.

It is advisable to withdraw money when shopping, as this is often possible in supermarkets and drugstores. Savings efforts should not be made in the current account, as this does not offer any interest and savings goals can be achieved more effectively through a current account. Anyone interested in financial topics can subscribe to the Finanztip newsletter to stay informed about current money topics.