Munich Horst Biallo has a lot of experience when it comes to bank fees. But what is currently happening with overdraft and overdraft interest has not been seen for a good 20 years. “I have the suspicion that other increases that would otherwise have been due were compensated for,” says the founder of the finance portal Biallo.de.
In figures, this means an average increase in overdraft interest of 2.32 percentage points compared to the end of March 2022, according to a study by the management consultancy Barkow Consulting. Average interest rates on call money accounts have only risen half as much over the same period.
Banks are considered to be the beneficiaries of the general rise in interest rates, but at the same time they have to contend with high costs for branches, IT and staff. But not all institutes pass on this pressure. The Handelsblatt shows where checking accounts are cheap or even free.
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