You have the option of applying to the Federal Financial Supervisory Authority (BaFin) for administrative proceedings against a payment service provider such as a bank or savings bank if

• the latter rejects your application to conclude a basic account agreement, or
• the decision on your account opening application or the conclusion of the basic account opening is delayed by more than 10 business days.

A payment service provider may only reject your application for a basic account if:

• You already have and can use a current account (technical term: payment account) with another company in Germany,
• you have been convicted within the last 3 years of an intentional criminal offense against
  • the payment service provider
  • one of its employees
  • one of its customers,
• you already had a basic account with the same payment service provider and the payment service provider terminated your basic account contract within the last year prior to application because you were in default of payment or you used your account for prohibited purposes, or
• Regulations for the prevention of money laundering and terrorist financing require the Bank to refuse to open the account.

With your request for an administrative procedure, BaFin will check whether the payment service provider was right to refuse your application for a basic account.
If the payment service provider wrongly refuses to open a basic account, BaFin will order the payment service provider to open your basic account.
Note: Once you have submitted your application for a basic account, the payment service provider must offer you the conclusion of a basic account contract within 10 business days or notify you in writing of a rejection of the application within the same period.