Basic account with negative Credit Checker vs. Seizure protection account

Anyone who has negative Credit Checker information knows without a doubt how difficult it can be in Germany to open a checking account. Ultimately, however, everyone urgently needs an account to be able to participate in daily payments. Things that are taken for granted, such as cashless transfers, cash withdrawals from ATMs, etc. are not possible or only possible to a very limited extent without your own checking account.

Since even politicians recognized this in the nineties, there has been at least one self-declaration on the part of the banks since 1996 to grant insolvent bank customers with a negative Credit Checker at least a basic account. This should be a simple checking account on a credit basis, which allows the customer to at least allow salary entries and make transfers.

Despite the agreement, however, hardly any banks adhere to this declaration. Instead, Credit Checker is still the method of choice for determining the creditworthiness of a potential bank customer, although this excludes parts of the population from electronic payments.

Open a current account without a Credit Checker? Easier said than done!

Open a current account without a Credit Checker? Easier said than done!

Anyone who inquires online about the options and offers for a checking account without Credit Checker information is faced with a large number of more or less reputable providers. There are now a number of intermediaries on the Internet who offer current accounts free of charge in other EU countries or in third countries.

In the numerous debtor forums on the Internet, there are just as many good tipsters who promise the prospect either to provide him with a list of German banks without Credit Checker information (variant A) or to show him ways and options to open a foreign account (variant B).

In both cases, the relevant tipsters (whether in the debtor forum, whether via spam emails or as the operator of a financial services site on the World Wide Web) charge hefty fees for their information. Even if common sense should expose such offers from the outset, a lot of money is still made with this rip-off. If you are also confronted with such offers, a good tip: stay away!

When looking for a German account without a Credit Checker, the prospect should first of all be aware that in the best case it will be a pure credit account without a credit facility and with relatively expensive account management fees. Why this is so is relatively easy to explain: credit institutions primarily offer checking accounts (often even free of charge) and also often offer attractive credit interest rates because they hope in this way, on the one hand, to win over wealthy customers who give their checking accounts larger amounts supply or at least come into question for the granting of a disposition or installment loan. In 99% of all cases, this is not the case for those interested in a Credit Checker-free account.

The bank, therefore, has no way of earning money from a low-earner or – more generally – customers with poor creditworthiness, which is why it generally does not provide applicants with a poor Credit Checker a pure credit account. Exceptions confirm the rule as everywhere in life, but – apart from a few tricks (see below) – in many cases there is only the detour via friends or acquaintances or one of the relatively numerous – but in many cases also to be used with great caution – To use offers for a foreign account.

A credit basis without Credit Checker as the most sensible option

A credit basis without Credit Checker as the most sensible option

Basically – even if this is not easy and most of those affected will already have had a lot of negative experiences – the first option is to look for a personal path to the house bank or to another reputable credit institution, to present your own situation in detail and to have an individual classification and hope to decision. As already mentioned at the beginning, if the request is positive, higher account management fees will be a necessary evil, but this is without a doubt better than having to operate completely without your own current account.

As soon as the account opening is done, there are other disadvantages. An account without a Credit Checker is almost always a basic account. With such an account, overdraft facilities are excluded, so that it is only managed on a credit basis. Furthermore, holders of a current account without a Credit Checker do not receive a bank card for cashless payments.

While at least one EC card for electronic payment is included with practically every bank account, an account without Credit Checker information only receives a bank card for cash withdrawals. Nevertheless, transfers and standing orders can still be carried out with such an account, which covers the most important functions of a checking account anyway. At least in financially really difficult times, such a basic account helps the customer to rebuild a financial livelihood. As soon as this is reached, he can then again try to open a checking account with full functionality.

Editor’s recommendations for an account without Credit Checker


As already noted, the market for online offers for Credit Checker free bank accounts is characterized by a wide range of dubious solutions. In addition to the two ways outlined in the last section – asking the Good Credit around the corner or opening a deposit-cash account combination package – we consider Good Finance’s offer as a real alternative in view of the current market situation.

This is a combination of an online cash account, EC and VISA prepaid card. With the VISA Life card or the EC / Maestro card, you can pay easily and securely wherever and whenever you want.

Accounts are managed conveniently online, and the highest security standards are a matter of course. The connected VISA credit card account offers the holder maximum flexibility. The one-time setup fee for this highly recommended offer is 39.90 dollars.

The P account as protection against attachment


Since July 2010 there has been a special current account form for account holders with attachment problems, which in its current form represents an improvement in earlier times, but also has some shortcomings and problems. First, a few basic explanations: A garnishment protection account (or P account for short) enables the debtor to dispose of the monthly garnishment allowance, which is currently USD 1,045.04, in the event of an account attachment.

In accordance with the statutory provisions, every bank must convert an existing current account into a P account at the customer’s request, however, an exclusive reopening is not intended, as is management as a joint account. Furthermore, creditor protection is dependent on account management on a credit basis and only one P account per person may be kept.

In connection with the above-mentioned provision, it should be noted that the account can be reported to Credit Checker, so if a request is made to open an account, the bank can check whether the applicant already has a P account with another bank. As far as the possibility of a conversion into a normal current account is concerned, it should be noted that this is fundamentally not intended and there is no corresponding legal claim, in individual cases, this is within the bank’s area of ​​decision.

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