Overview
- Market guides now show top two-year fixed-term deposits at up to 2.9%, with European Merchant Bank listed at that rate for 24 months.
- Promotional overnight accounts include BforBank at 3.5% for new customers for three months, while Ferratum pays 2.8% without a time limit and Varengold offers 2.3% under German deposit protection.
- Verivox reports average overnight rates around 1.28% as seven providers compete with offers of 3% or more to attract new customers.
- Active scam campaigns are impersonating reputable firms, including a bogus “Allianz Flexibles Festgeldkonto” touting 4.5% for 12 months via a UK account and a spoofed domain.
- Since October 9, banks must perform IBAN–name checks on transfers, yet criminals are steering victims to pooled or escrow-style accounts, prompting advice to verify offers via BaFin databases, Stiftung Warentest and the Verbraucherzentrale.