• March 2, 2023

Is your bank account soon no longer free Then change the bank!

Is your bank account soon no longer free? Then change the bank!

Banks and savings banks want to abolish free checking accounts.

Costs for withdrawals, transfers, credit and giro cards, and account management fees. Banks and savings banks are very creative when it comes to inventing new fees and costs for their customers.
If only they would do this while improving their own service. But instead of more service, many financial institutions only think of more costs. This will pay off in the long run.

Banks turn the fee screw

As a rule, a customer only hears from his bank when it offers him a sure-fire Investment opportunity wants to. But if you ask for a favorable loan, the will to communicate usually dries up very quickly. Instead of low-interest loans, even long-standing customers often receive either totally exaggerated interest rate proposals or attempts are made to pull customers over the coals with additional insurance policies. Scruples know the friendly advisers already from interest in the own job usually not.

Sometimes customers receive a letter cleverly disguised as an advertisement, announcing new fees. Thus these days customers of 40 savings banks and numerous people and Raiffeisen banks received a letter, in which they were informed of the fact that soon also for the cash withdrawal at the cash machine fees will result. And that even at the in-house ATMs.

Customers will actually have to pay money to withdraw their own cash from a cash dispenser. That is really brazen.

But the customers of many banks, savings banks and Volks- und Raiffeisenbanken are used to grief. In contrast to the online banks, these financial institutions also charge for the EC/Giro card in addition to the account management & credit card and for paper-based transfers. Some even charge money for online transfers. Customers who go along with this are themselves to blame.

Free account adé?

There are still banks on the market that offer all this free of charge. Still, because if it goes after Michael Kemmer, the managing director of the bank federation, then “the times of a free culture are probably past”. With it Kemmer meant naturally not the crooked business of the numerous banks at the stock exchanges of this world, with which they gambled away themselves so in such a way that the state, speak the taxpayer these banks free of charge with tax money were allowed to save.

No this free culture means Kemmer just as little, like the possibility of the banks with frighteningly little own capital funds to create new money from nothing.

Credit money

Anyone who still thinks that banks only lend on the money that their customers deposit in their checking accounts for high interest rates has not even begun to understand our monetary system. New money = growth can only be created if new loans are issued at the same time. And that is exactly what the banks do, they create book money.
In this respect calls for the redemption of all national debts are absolutely unworldly. That would lead instead of to an upswing to the total standstill of the economy.

Debt money or. Credit money works in a completely different way than most people (can) imagine. It is not for nothing that experts are of the opinion that our monetary system is collapsing at the very moment when people have understood it.

Change bank!

Back to current accounts. The bank federation would like thus – hardly surprisingly – that the banks continue to suck out their business basis the blood. The own customers are to be fleeced with ever more fees and costs. Free current accounts, on the other hand, should disappear from the market as soon as possible.

This is already the case today with savings banks and Volks- and Raiffeisenbanks. However, some online banks stick to the free accounts. For example, Ing Diba, Consorsbank, comdirect and not least DKB.

The DKB-Cash account is a free checking account with a free VISA credit card. It allows to pay and withdraw money from ATMs worldwide for free. In addition, there is the free Girocard and a credit interest rate of 0.2 percent (variable for credit on the VISA card). The DKB-Cash account is therefore recommended for all banking transactions in Germany and is also super suitable for travel worldwide.

Many bank customers can only dream of DKB’s service package. But they are in the case themselves to blame. In this country, the market economy rules. Supply and demand determine the price. People who are customers of banks that take money out of their pockets for providing a checking account and the corresponding cards should not complain. Instead, they have to draw the consequences and simply change their bank. Nowadays this is much easier than thought.

Here’s why: Do not get upset about the rip-off fees of some banks, savings banks and Volks- and Raiffeisenbanken, but change the bank immediately! This is how responsible consumers act.