sueddeutsche.de
German Girokonto Fees Exceed Recommended Maximum: Study
A "Stiftung Warentest Finanzen" study found the average German Girokonto costs €125 annually, exceeding the recommended €60 maximum; only 66 accounts cost less, with 12 free.
- What resources are available to consumers seeking more affordable Girokonto options?
- The study analyzed over 700 Girokonto offers from 182 banks and savings banks, finding that despite numerous account models targeting diverse customer needs, many remain overpriced. This highlights a systemic issue of potentially exploitative pricing in the German banking sector.
- What is the average annual cost of a German Girokonto, and how does this compare to the recommended maximum?
- A recent "Stiftung Warentest Finanzen" study reveals that the average annual fee for German Girokonten is €125, exceeding their recommended maximum of €60. Only 66 accounts cost less than €60 annually, with 12 being entirely free.
- What systemic issues contribute to high Girokonto fees, and what future regulatory or market changes might address them?
- Consumers facing high fees should first inquire about cheaper alternatives within their existing bank. If unsatisfactory, resources like the BaFin account comparison tool can aid in finding better options. Future regulatory adjustments may be necessary to curb excessive fees and promote greater transparency.
Cognitive Concepts
Framing Bias
The article frames the high cost of bank accounts as the central problem, emphasizing the discrepancy between the average cost and the "acceptable" cost according to Stiftung Warentest. This framing immediately positions banks as potentially overcharging customers.
Language Bias
The article uses relatively neutral language. However, phrases like "zu teuer" (too expensive) and describing the average cost as "der Schnitt liegt bei 125 Euro" (the average is 125 Euros) could be considered slightly loaded, implying a negative judgment on bank pricing without explicitly stating it as an opinion.
Bias by Omission
The article focuses heavily on cost as the primary factor for choosing a bank account, potentially omitting other crucial aspects like customer service quality, digital banking features, and international transaction fees. While it mentions accessibility and service as secondary considerations, a more balanced overview incorporating these factors would provide a more comprehensive picture.
False Dichotomy
The article presents a somewhat false dichotomy by implying that the only choice is between expensive and inexpensive accounts. It doesn't adequately address the potential trade-offs between cost and other features, such as convenience or additional services offered by different banks.
Sustainable Development Goals
The article highlights that many bank accounts are too expensive, with an average annual fee of 125 euros, while suggesting that 60 euros is a reasonable upper limit. By drawing attention to excessive banking fees and promoting comparison tools, the article empowers consumers to make more informed choices and potentially reduce financial burdens, thereby contributing to reduced inequality.