In Germany, a severe disability does not automatically mean that account fees are waived. You can read more about what this means here.
According to the Federal Statistical Office, at the end of 2023, 7.9 million people with severe disabilities – i.e. a degree of disability of at least 50 percent – lived in Germany. In this situation, you can either open an account yourself or your legal guardian can do it for you. What you should know about it.
The focus shifted to bank accounts for people with disabilities in 2019. The Federal Participation Act has fundamentally changed some aspects – 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 the resident.
This arrangement offers you advantages in everyday life. You have access to credit without having to rely on carers or trust accounts. But: The checking account also comes with obligations. One of these is paying the account management fee. The law does not provide for a binding regulation according to which you or relatives with severe disabilities are exempt from this. Read here whether pensioners have to pay account management fees.
Tax relief, such as reductions in vehicle tax or reduced fares on local public transport, will of course remain unaffected. You will also still be entitled to mobility aids and some special rules in employment law.
Account management fees vary considerably depending on the bank. If you want to open an account, it is worth comparing them. Direct banks are institutions that can primarily be reached online. They often do not charge account management fees. However, be careful of hidden additional costs. Telephone banking or paper-based transactions can sometimes cost a lot.
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 if you receive benefits such as basic social security in the event of total incapacity for work according to Section 43 of the Social Security Code VI. Here you can claim an asset allowance of up to 10,000 euros. The same amount applies to spouses or life partners.
