Free accounts become rarer
With the Internet also came the free accounts. 17 years ago, BfG Bank introduced the first free checking account. For customers who did their banking on their home computers and who could do without a local branch of the bank, this was an optimal offer. The banks saved immensely as a result and passed these price advantages on to the customers.
But times are changing. More and more banks are secretly, quietly saying goodbye to free accounts. One reason for this is apparently the interest rate low that has persisted for some time now. Mainly branch banks, such as Santander Bank, Hypo-Vereinsbank and numerous savings banks, are now looking for other sources of income and are naturally thinking first and foremost of fees for their customers.
Many banks have therefore recently tied the free account to specific requirements. Thus there are suddenly credit limits, minimum money receipts or turnovers. Or quite normal bank transactions should now cost fees, z.B. Cash deposits, direct debits. And even the online financial software, which was previously free of charge, will suddenly cost money.
Many customers are therefore angry. But there is only one way out for them: Quit.
Because either you accept the introduction of the fees, of which there will certainly be more and more new ones in the future, or you switch with your account to another bank. As simple as that.
Those who are presented with new fees by their bank can cancel at any time. If he does not, then the new fee schedule comes into force after two months, regardless of whether the customer has objected or not. The bank must adapt for it only the general trading conditions for the Girovertrag in time.
Switch to an online bank
Pure online banks will continue to offer the free account in the future. They hope now for a large wave of the change-willing and offer to the possible new customers generous premiums, if these move completely to them. Up to 200 EUR savings annually for branch bank customers if they switch to an online bank with free account. Plus exchange premium of course.