Submit complaints regarding basic accounts, bank account switching services, and fee transparency

If your credit institution rejects your application for a basic account, fails to provide you with sufficient support when switching accounts, or charges an inappropriate fee, you can file a complaint with 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. Its responsibilities include looking after the protection of all consumers. You can file a complaint with BaFin if you believe that a supervised company has violated laws.

Opening of a basic account:
All consumers who reside legally in the European Union are entitled to a basic bank account under the Payment Accounts Act (ZKG). Once you have submitted your application for a basic bank account, the bank must offer you a basic bank account within 10 days or inform you in writing that it does not intend to open a basic bank account for you. If the bank has rejected your application to open a basic bank account, you can file a complaint with BaFin. If you also want BaFin to help you enforce your right to a basic bank account, you can apply for administrative proceedings with BaFin.

Account switch:
The ZKG also obliges companies to make it easier for you to switch accounts. Upon your request, the previous provider must transfer standing orders and other services to the new provider. If your financial service provider fails to comply with its obligation to provide statutory account-switching assistance, you can report this to BaFin.

Wage claim:
Even in the event of an unreasonable fee demand, you can file a complaint with BaFin. Since the legislator has not set a maximum limit for the costs of a basic account, prices for a basic account vary greatly. According to the Payment Accounts Act (ZKG), the assessment of reasonableness must take into account, above all, customary market fees and the behavior of the user.

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

BaFin is exclusively responsible for collective consumer protection. It protects consumers as a whole in the financial market. By contrast, protecting individual consumers is not part of BaFin's remit. BaFin cannot help individual consumers assert their individual rights in specific cases.

An exception is the administrative procedure. You can apply for an administrative procedure to be carried out by BaFin if you have not already filed a lawsuit for the same reasons.

For complaints regarding basic bank accounts, account switching services, and fee transparency, you can contact BaFin. 

• Open the page "Complain to BaFin".
• There you will find the online form you can use to submit your complaint to BaFin.
• Enter the relevant data regarding your complaint in the form fields.
• Submit the online form digitally.
• BaFin is reviewing your complaint.
• If your complaint concerns the opening of a basic account, the following must be observed: 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, one of its employees, or one of its customers within the last 3 years prior to submitting the application,
  • you already had a basic account with the same bank and the bank terminated the basic account contract lawfully due to payment default or due to use of the account for prohibited purposes, or
  • the bank would violate its general diligence obligations under the Money Laundering Act and the Banking Act by entering into and maintaining a business relationship with you, or would violate its obligations of confidentiality in justifying the refusal.
• If the BaFin has indications that consumer protection regulations are being violated and that a large number of consumers are affected, it examines whether and what measures it can take.

BaFin is exclusively responsible for collective consumer protection. It protects consumers as a whole in the financial market. By contrast, protecting individual consumers is not part of BaFin's remit. BaFin cannot help individual consumers assert their individual rights in specific cases.

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

• Download the application form from the BaFin website and fill it out completely.
• Send the signed application with the required documents to the address indicated on the form.
• Alternatively, you can completely fill out the BaFin online form. 
• BaFin will confirm receipt of your application in writing or electronically.
• BaFin is reviewing whether you meet the requirements for your request, for example, the opening of a basic account. For this purpose, BaFin may also obtain a statement from the bank.
• If the bank has acted unlawfully toward you, BaFin orders this deficiency to be remedied, for example, by opening a basic account.
• You will receive written confirmation of the conclusion of the proceedings.
• If your application is rejected by BaFin, you can lodge an objection to have the decision reviewed again.
• Your bank can also file an objection.

• Objection
• civil lawsuit