With our daily allowance guidebooks we inform you about all important topics. In these we show you, for example, what you should look for when comparing or what new customer offers there are and how long they apply.
Daily allowance: the most important thing at a glance
High interest rates
Comfortable and easy
Call money offers significantly higher interest rates than any savings account or checking account.
Each savings account is subject to the deposit guarantee of 100,000 euros per person and is therefore very safe.
You come at any time – so daily – to your money. How much you want to invest is up to you.
Savings accounts can be easily and conveniently managed via the Internet. Some banks also offer telephone banking. Online account opening usually takes no longer than five minutes. You fill in the application on the Internet. Then you go with the printed application to the nearest post office branch and carry out the so-called post-identification procedure there.
To legitimize yourself to the postal worker, you need a valid ID card or passport. Some vendors use video identification.
For whom is a call money account useful?
Daily allowance is the right choice for you if you
want to be flexible in your money at all times,
do not want to pay an account maintenance fee,
Daily Allowance for Children: Parents stay on duty
Daily allowance for investment is also interesting for children and grandchildren. However, minors are not allowed to open their own money account. Representative this is only allowed to the legal representatives, ie the parents or the legal guardian. Until the child reaches the age of majority, the representatives have the right to dispose of and can make deposits and withdrawals on the call money account at any time.
If grandparents or godparents want to open a savings account for the grandson or the godchild, for example, to give money, this requires a contract in favor of third parties. The call money will then be carried in the name of the beneficiary. From the age of majority, the child can then independently carry out transactions on the call money account. However, the offspring must later legitimize by post or video ident.
You should pay attention to this when selecting the call money account
Overnight interest rates
For many investors, the main factor is the level of interest. But: The interest on a money market account is variable. Say: In contrast to the fixed-term interest rates can be adjusted daily. Interest rate guarantees are only available for customers if it is a special offer, such as a new customer offer.
In such actions the interest rate is often fixed for a certain period of time. The best money market accounts are characterized by a stable interest rate. That is why it is always worthwhile to compare providers and offers.
The amount of the amount to be invested also determines the interest rate – this may differ depending on the investment amount. Meanwhile, only a few banks require a minimum investment from their customers. Most of the maximum investment is 100,000 euros and you should not invest more per account. Because here usually ends the protection of the deposit insurance.
With a call money facility, you do not have to worry about your money – at least up to a certain amount. Because all offers in the settlement of daily biallo.de are over the legal deposit insurance up to a sum of 100,000 euros per saver completely secured. But you should always keep in mind that deposit insurance is only ever as secure as the creditworthiness of the state that guarantees it.
A common European solution does not yet exist. To give you a feeling for the quality of the deposit insurance of the respective provider, you not only see the country of origin of the provider, but also the corresponding credit rating of Standard & Poor’s.
We believe that a country’s deposit insurance can only be trusted if the renowned rating agency is Standard & Poor’s rated the state’s credit rating with at least high security (AA-). In the case of bankruptcy, there are at least doubts as to whether investors can be reimbursed promptly in the case of banks from countries with a lower credit rating.
In addition to the statutory deposit insurance many German financial institutions have yet another hedge. Around 170 commercial banks belong to the deposit insurance fund of the Federal Association of German Banks. This means millions of dollars of protection for customers. Savings banks as well as Volksbanken and Raiffeisenbanken support each other so that the deposits are virtually unlimited hedged.
In the event of a bank failure, the provisions of the European Banking Union stipulate that savers should be allowed access to their funds within seven days. These regulations apply to daily allowances as well as to fixed deposits, savings bonds or current account balances.
There are now many security mechanisms to protect customer access to the call money account. In the pin-tan procedure, access to the call money account is only possible after entering a pin. If the customer wants to make one or more transactions in connection, he must enter a separate tan for each transaction. Only one transaction per Tan is possible. There are different Tan methods, such as M-Tan, Chip-Tan, Push-Tan or Chip-Tan. For most banks, customers can choose between two or three of these procedures.
New Customer Inquiry
Many financial institutions use money market accounts for customer acquisition. For this purpose, the interest rate is higher than average and fixed for a certain time. The goal: to acquire new customers and thus fresh capital.
You can make conscious use of interest rate guarantees by acting as a call money new customer "Interest-hopping" operate, so again and again open a new, high-interest money account. After all, new customers often benefit for months from fixed interest rates, while existing customers have to expect falling yields because of falling interest rates.
Biallo Tip: Use savings plans
Tagesgeld is also suitable to save in the long term – namely with a savings plan. Advantage: In the event of financial bottlenecks, investors can reduce or suspend their rates at any time. Shifting to other financial investments is also possible for the customer without loss at any time. A not insignificant role in saving plays the compound interest effect. The most important thing about daily savings plans:
Determine savings rate
Savers can decide how much money they want to transfer monthly, quarterly or semi-annually from their checking account by standing order on the savings account. Alternatively, you can also collect the amount by direct debit regularly.
Change saving rate
The initially defined savings rate can be changed at any time. There are no fees. Investors only need to communicate the new savings rate to the bank a few days before the first debit date, or even change it in online banking.
Expose savings rate
If the money is tight, you can suspend the savings plan for a certain time. Through this "time-out" There are no disadvantages. Existing credits are always at the current rates of interest – a big advantage over other savings plan offers, the "breaker" often punish by cutting or canceling bonus payments and saving premiums.
Savers can freely dispose of their balance at any time. You have the option to transfer from one day to the other the entire savings plus interest on the current account. There are no notice periods, nor are fees charged.
Day money comparison: Get the best possible return
A call money makes sense to maintain the necessary liquidity. But: keep your eyes open at the Tagesgeldanlage. A comparison is worthwhile even in times of kidney and negative interest rates. Evaluate different banks and conditions in our daily allowance comparison for your purposes. The following applies here:
Small cattle are also crap. Already a supposedly minor higher interest rate can mean a plus of a few euros. Our overnight money comparison offers you all the necessary data for an informed selection at a glance:
Provider, ie banks and savings banks
Interest income – that is the yield per year, which results from the credit interest
Interest rate – fixed interest over the agreed term
Evaluation of the account model through our daily allowance test
Product details in our daily allowance comparison
- The number of interest payments per year – so you can quickly find out whether you benefit from the compound interest effect.
- You will find information about who is allowed to open the money market account: only private individuals or companies or freelancers.
- We provide you with information on whether a telephone account management is possible.
- You can see at a glance whether the daily interest rate applies to the entire investment or whether it is higher or lower from a certain investment amount.
- The amount of the deposit guarantee in Euro per person.
- Reader comments / customer experiences with this bank or savings bank will also help you to get an idea of the offer
- In addition, you will receive a portrait of the bank so that you know where you invest your overnight money
Daily allowance: comparison of the best money market accounts
For our selection (see tables below), we only consider banks from countries with high credit ratings (minimum grade "AA-" at the US rating agency Standard & Poor’s). With regard to statutory deposit insurance, we believe that these countries are strong enough to compensate investors promptly in the event of a bank failure.
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