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4h ago

German Overdraft Costs Remain High, With Steep Surcharges Beyond Set Limits

Experts warn that unnoticed overdrafts can quickly become expensive for customers.

Eine Geldbörse mit Scheinen (Symbolbild)
Viele Banken verlangen hohe Zinsen, wenn das Konto ins Minus rutscht.
Viele Bankkunden zahlen drauf, wenn sie ihr Konto überziehen.

Overview

  • Verivox analyzed a BaFin dataset covering about 6,800 giro account models from roughly 1,100 banks and savings banks.
  • Banks charge an average of 11.31% interest for borrowing within an agreed overdraft limit.
  • Exceeding that limit typically adds about 4.26 percentage points, with peak rates reported up to 19.75%.
  • Many of the highest-rate offers are from regional cooperative banks and Sparkassen, while some online banks post rates just under 10%.
  • Advisers urge close account monitoring, suggest installment loans for persistent deficits, and point customers to BaFin’s account-comparison tool.