Minus account? So the overdraft interest rates at Sparkasse & Co.!

Minus account? So the overdraft interest rates at Sparkasse & Co.!

Deutschland - In Germany, the cash payment is increasingly decreasing and shifts to the digital. Online services such as Picnic for Food, Lieferando for Pizza and Amazon for clothing and electronics are enjoying growing popularity. But this trend also has its dark sides. More and more people are losing an overview of their expenses, in particular through card payments or the use of PayPal. Account statements often lead to unexpected minus stands at banks such as Sparkasse, Volksbank and Ing.

Consumer protectionist Ron Perduss urgently warns of the high overdraft interest rates that may be included in the overdraft of giro accounts. These vary greatly and are an often overlooked cost factor for consumers. While some banks do not request interest, other remarkable sentences of 10% or more can call up. Particularly high overdraft interests can be between 7 and 17% in the event of tolerated overdrafts. A typical example: If you work with 2,000 euros in the overdraft facility for a year, this can cost several hundred euros in interest. Regional banks such as Sparkasse and Volksbank often estimate interest between 12 and 14%, while direct banks such as Ing, DKB and Comdirect interest rates offer just under 10%.

The challenge of digital financial management

Digitization has brought many advantages in the financial sector. A current evaluation of BaFin shows that more than 75% of consumers use online services to check their account balance, pay invoices or transfer money. This development facilitates access to financial services, but also carries risks. So 2% of the respondents stated that they had unintentionally passed on sensitive information. In addition, many consumers are not sufficiently informed: only 45% are aware that an online financial contract does not have to be signed on paper.

The study on financial education that is carried out every three years reflects the growing use of digital financial services. Young people in particular tend to use digital tools more intensively: 60% of the younger respondents find digital tools helpful, while this proportion is 36% in older citizens. Despite the advantages, the results also show that many consumers are careful-88% check the safety of websites before performing online transactions.

consumer tips and the way to financial education

In order to counteract the high overdraft interest rates, Ron Perduss offers practical tips in the video series "The West clarifies". Furthermore, the non -profit Finanztip Foundation promotes financial education in Germany by providing free content. At Finanztip, only products that have been analyzed independently by experts are recommended. This organization is financed by affiliate links that are marked accordingly. For example, users benefit from comprehensive and competent advice on financial issues.

With the constant development of the financial landscape and the new digital possibilities, consumers must always remain vigilant. Although digital services make everyday financial life easier, it is essential to be clear about the existing costs and risks. An informed handling of your own finances is the key to more financial resilience.