In Germany, a severe disability does not automatically lead to the loss of account fees. Read here what exactly is important.
According to the Federal Statistical Office, at the end of 2023 there were 7.9 million people living in Germany with severe disabilities – i.e. a degree of disability of at least 50. In this situation, you can either open an account yourself or your legal guardian will do it. What you should know about it.
The focus was on the bank account for people with disabilities in 2019. With the Federal Participation Act, some aspects have fundamentally changed – especially for severely disabled people in residential facilities. Since then, it has been necessary to set up a personal checking account. Since January 1, 2020, benefits are no longer paid directly to facilities but to residents.
This regulation offers you advantages in everyday life. This means you have credit without having to rely on carers or trust accounts. But: The checking account also means obligations. One is paying the account management fee. The law does not provide for any binding regulations that exempt you or relatives with severe disabilities. Read here whether pensioners have to pay account management fees.
Tax relief, such as reductions in vehicle tax or discounted transport on local public transport, of course remain unaffected. You are also still entitled to mobility aids and some special labor law rules.
Account management fees vary significantly depending on the bank. If you want to open an account, it’s worth comparing. Direct banks are institutions that can primarily be reached online. These often waive fees for account management. But pay close attention to hidden additional costs. Telephone banking or paper bookings sometimes cost comparatively much.
If you are able to work despite your disability and are not dependent on basic social security, there are no regulations regarding the amount of your assets. The situation is different when receiving benefits such as basic security in the event of total disability according to Section 43 SGB VI. Here you can claim an asset allowance of a maximum of 10,000 euros. The same amount applies to spouses or life partners.
