A basic account is a payment account that you can use like a checking account. You can use the basic account to deposit and withdraw money or make direct debits, transfers and payment card transactions.

What is special about it, however, is that special protection rules apply to the basic account. For example, you have special protection against termination and the bank may only charge reasonable fees for account management.

Every consumer who is legally resident in the European Union is entitled to conclude a basic account agreement. You can open a basic account even if you do not have a permanent residence or are seeking asylum. Even if you do not have a residence permit but cannot be deported for legal or factual reasons (tolerated persons), you are entitled to a basic account.

However, when opening an account, you must provide a postal address (for example, of friends or a family member).

In principle, every bank that offers payment accounts to consumers must provide basic accounts. A bank may only refuse your application for a basic account if there is a statutory reason for refusal.

Therefore, the bank may only reject the application,

• if a payment account has already been set up at a credit institution and is usable,
• if the applicant has been convicted in the last three years of an intentional criminal offense against the bank, its customers or employees, or
• if the applicant is already the holder of a basic account with the same bank and this account has been justifiably terminated due to late payment
• if regulations for the prevention of money laundering and terrorist financing require that an institution refuse to open an account

Note: You can also request that the basic account be maintained as a garnishment protection account.