Basic payment account – information on what to do if this is refused

Service Description

In principle, a bank may refuse your application for a basic payment account only if:

  • you already have and can use a payment account with another credit institution in Germany;
  • you have not been convicted of an intentional criminal offence against the credit institution, one of its employees or its customers within the last 3 years;
  • you already hold a basic payment account with the same bank and this bank has terminated your basic payment account contract because you had payment arrears or used your account for prohibited purposes; or
  • provisions on the prevention of money laundering and terrorist financing require an institution to refuse to open the account.

When you apply for administrative proceedings, the Federal Financial Supervisory Authority (BaFin) will examine whether the bank was right to reject your application for a basic payment account.

If the bank wrongly refuses to open a basic payment account, BaFin will order the credit institution to open a basic payment account for you. Note: If the bank chooses not to open a basic payment account for you once you have submitted your application for the account, it must inform you of this in writing within 10 days.

Source: Zuständigkeitsfinder Thüringen (Linie6PLus)

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