Custody fee and negative interest: may the bank demand that?
During the low-interest phase, many banks charged a custody fee (negative interest) on balances. Whether that was permitted in the individual case depends on a valid agreement. If the fee was introduced only through an invalid terms change, you may be able to reclaim it.
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Assert reimbursement →Your chances of getting your money back
What you should do now
- 1
1. Check the basis
Clarify whether you actively agreed to the custody fee or it was introduced only through a terms change (deemed consent).
- 2
2. Compile the debits
List the charged fees and periods from your account statements.
- 3
3. Demand reimbursement
Challenge the fees in writing and demand repayment with a deadline.
- 4
4. Escalate
If the bank refuses, you can turn to the arbitration body (ombudsman).
How to spot the scam
- The custody fee was introduced without your active agreement.
- It is charged on everyday balances below usual allowances.
- The bank refuses a comprehensible justification.
Frequently asked questions
May the bank demand negative interest on my balance?
Only on a valid contractual basis. If the custody fee was introduced merely through a deemed-consent clause in the terms, without you actively agreeing, that is often invalid under case law.
Can I reclaim a paid custody fee?
If the charge was based on an invalid basis, yes. Compile the debited amounts from your account statements and demand reimbursement in writing with a deadline.
What if the bank refuses?
You can turn to the competent arbitration body (ombudsman of the banks), the procedure is free for you. For larger amounts, a court clarification is also an option.
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.