Submit complaints about basic accounts, account switching assistance and fee transparency

Does your bank reject your basic account application, does it not provide you with sufficient support when switching accounts or does it charge an unreasonable fee? Then you can complain to the Federal Financial Supervisory Authority (BaFin).

The Federal Financial Supervisory Authority (BaFin) supervises companies such as banks, financial service providers, private insurers and securities trading. One of its tasks is to ensure that all consumers are protected. You can lodge a complaint with BaFin if you believe that a supervised company has violated the law.

Opening a basic account:
All consumers who are lawfully resident in the European Union are entitled to a basic account under the Payment Accounts Act (Zahlungskontengesetz - ZKG). Once you have submitted your application for a basic account, the bank must offer you a basic account within 10 days or inform you in writing that it does not wish to open a basic account for you. If the bank has rejected your application to open a basic account, you can lodge a complaint with BaFin. If you would also like BaFin to help you enforce your claim to a basic account, you can apply to BaFin for administrative proceedings.

Account switching:
The ZKG also obliges companies to make it easier for you to switch accounts. At your request, the previous provider must transfer the standing orders and other services to the new provider. If your financial services provider does not comply with its obligation to provide statutory account switching assistance, you can report this to BaFin.

Charge claim:
You can also lodge a complaint with BaFin if you receive an unreasonable charge. As the legislator has not set a maximum limit for the costs of a basic account, the prices for a basic account vary greatly. According to the ZKG, the usual market fees and the user's behavior are the main factors to be taken into account when assessing the appropriateness.

If BaFin has indications that consumer protection regulations are being breached and a large number of consumers are affected, it will examine whether and what measures it can take.

BaFin is exclusively responsible for collective consumer protection. It protects all consumers in the financial market as a whole. However, BaFin is not responsible for protecting individual consumers. BaFin cannot help consumers obtain their individual rights in individual cases.

One exception is the administrative procedure. You can apply to BaFin for administrative proceedings to be conducted if you have not already taken legal action on the same grounds.

• Your application to open a basic account (copy) and
• Letter from the bank rejecting your application (copy) or
• unlawful letter of termination for your basic account (copy) or
• Proof of lack of support when switching accounts or
• Proof of unreasonable charges

You can submit a complaint to BaFin if one of the following cases applies:

• You wish to open a basic account and the bank unlawfully refuses to allow you to do so.
• Your basic account has been unlawfully terminated.
• You would like to change your account, but your bank is not fulfilling its obligation to help you change accounts and is not providing you with sufficient support.
• You receive an unreasonable charge from your bank for a basic account.

You can apply to BaFin for administrative proceedings if one of the following cases applies:

• You wish to open a basic account and the bank unlawfully refuses to allow you to do so.
• You would like to open a basic account and the bank has not decided on the opening within the deadline.
• The bank has not opened your basic account on time.

• Opposition
• civil action

You can contact BaFin with complaints about basic accounts, account switching assistance and fee transparency.

• Go to the "Complain to BaFin" page.
• There you will find the online form that you can use to submit your complaint to BaFin.
• Enter the relevant data for your complaint in the fields on the form.
• Submit the online form digitally.
• BaFin will review your complaint.
• If your complaint concerns the opening of a basic account, please note the following: Under certain conditions, the rejection of your application for a basic account is permitted. This is the case if:
  • You already have a payment account with another bank in Germany and you can actually use this account,
  • you have been convicted of an intentional criminal offense against the bank or one of its employees or one of its customers within the last 3 years before submitting your application,
  • you already had a basic account with the same bank and the bank has justifiably terminated the basic account agreement due to late payment or use of the account for prohibited purposes, or
  • by entering into and maintaining a business relationship with you, the bank would be in breach of its general due diligence obligations under the German Money Laundering Act and the German Banking Act or would be in breach of its confidentiality obligations when justifying the refusal.
• If BaFin has indications that consumer protection regulations are being breached and that a large number of consumers are affected, it will examine whether and what measures it can take.

BaFin is exclusively responsible for collective consumer protection. It protects all consumers in the financial market as a whole. However, BaFin is not responsible for protecting individual consumers. BaFin cannot help consumers obtain their individual rights in individual cases.

You must apply for administrative proceedings against your bank in writing or using BaFin's online form.

• Download the application form from the BaFin website and complete it in full.
• Send the signed application with the required documents to the address given on the form.
• Alternatively, you can complete the BaFin online form in full.
• BaFin will confirm receipt of the application in writing or electronically.
• BaFin will check whether you meet the requirements for your request, for example the opening of a basic account. BaFin may also obtain a statement from the bank.
• If the bank has acted unlawfully towards you, BaFin will order that this deficiency be remedied, for example by opening a basic account.
• You will receive written confirmation that the procedure has been completed.
• If your application to BaFin is rejected, you can lodge an appeal so that the decision can be reviewed.
• Your bank can also lodge an appeal.

Eine Beschwerde bei der BaFin einzureichen, ist für Sie kostenlos. Für Ausgaben, die Ihnen beim Schriftwechsel entstehen, müssen Sie allerdings selbst zahlen. Auch Anwaltskosten oder Gebühren für Beratungen werden Ihnen nicht erstattet.: Fee free of charge

Ein Verwaltungsverfahren bei der BaFin zu beantragen, ist für Sie kostenlos. Für Ausgaben, die Ihnen beim Schriftwechsel entstehen, müssen Sie allerdings selbst zahlen. Auch Anwaltskosten oder Gebühren für Beratungen werden Ihnen nicht erstattet.: Fee free of charge