Switching bank accounts: the bank must help you
Switching accounts seems complicated: employer, insurers, electricity, direct debits, all must know the new bank details. But you do not have to manage this alone: banks are legally obliged to help you with the switch.
Reach your next steps and the matching ready-made texts in just a few minutes, free of charge:
Demand switching help →Your chances of getting your money back
What you should do now
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1. Commission the switch
Commission the account switching service at the new bank and name your old account.
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2. Switch payment partners
The new bank helps inform or transfer employer, direct-debit partners and standing orders.
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3. Keep the old account open
Let the old account run for a while until all changes have been safely made.
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4. In case of problems
If a bank delays or refuses the switching help, point to the ZKG and, if necessary, complain to BaFin.
Frequently asked questions
Must the bank help me switch accounts?
Yes. Under the Payment Accounts Act (§§ 20 ff. ZKG) there is a statutory account switching service: the new bank supports you in transferring incoming payments, direct debits and standing orders, and the old bank must provide the required data, within legally regulated deadlines.
Does switching accounts cost anything?
As a rule, no unreasonable fees may be charged for transmitting the required information and providing the switching help. Have the new bank inform you about the process and keep your old account open until all payments have been safely switched over.
Take action now
We put together the ready-made texts and the right places to contact for you.
General information for self-help, not legal advice (RDG). In case of a high loss or uncertainty: contact a consumer advice center or a lawyer.