P account: With overdraft facility / credit

The most important things at a glance:

Here you will find answers to the following questions:

Affected consumers, whose accounts are seized, have the right to have their current account converted into a P-account free of charge in order to secure their existence permanently with a statutory exemption of € 1,178.59 . Find out more here: How does an account attachment work

This amount can be increased individually, depending on the life situation of the person concerned, by means of certificates from the responsible institutions: P-Account: Calculate the tax exemption

Consumers affected by an account attachment often lack the relevant information that determines their life situation. An important topic here is the overdraft facility.

What is an overdraft facility?

The overdraft facility, also called overdraft facility or simply overdraft facility, is a way for consumers to overdraw their current account. It should be noted that the borrowing interest is extremely high compared to other loans. The amount of the overdraft facility depends on the amount of incoming funds and the creditworthiness of the account manager. Additional processing fees for an account overdraft may not be charged.

Is an overdraft facility granted despite a P account?

An overdraft facility depends on the bank and, in rare cases, is also granted with a garnishment account. It is questionable whether an overdraft facility makes sense in the case of an account attachment, since the existence of the debtor is secured by the exemption. Ultimately, the aim of the garnishment is freedom from debt and not the possibility of further debt.

Pay Here offers you a P-Account based purely on credit balances so that you can become debt-free as quickly as possible. Open a seizure protection account without SCHUFA online in just a few minutes, without a bank appointment.

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Via Pay Here

The German e-money institute Pay Here has specialized in payment services with Debit Mastercards and accounts without Schufa. Individual solutions are offered for both private and corporate customers.