The most important things at a glance:
Here you will find answers to the following questions:
Every bank customer has the right to have his current account converted into a P account by his bank . With this conversion, a monthly exemption is guaranteed in the event of a garnishment on said account. The exemption guarantees the consumer the subsistence level. Upon receipt of a garnishment notice, the conversion must take place within four weeks. The statutory exemption is € 1,178.59 and can be increased individually with certificates from the responsible institutions. If the account is not protected by the seizure protection in good time, it can be seized without restriction.
You can find more information on the individual allowance here: P-Account: Calculate the allowance
When is a P-Account blocked?
In principle, it is not possible to block a P-account. The seizure protection should enable the consumer to continue to earn his living.
It should be noted that every consumer has the right to exactly ONE garnishment protection account. It is illegal to have multiple P-accounts. Anyone who violates this requirement must expect criminal consequences in addition to account blocking.
Tip : We recommend anyone who could be threatened with an attachment to convert their current account into a P-account. The seizure protection only takes effect when an account has actually been seized. Before that, you can use your current account as usual.
Can the P account also be applied for retrospectively?
Yes, it is possible to apply for a P-account even after receipt of an account attachment. After receiving the attachment notice, the account holder usually has 4 weeks to apply for attachment protection.
The seizure protection therefore also applies retrospectively for the calendar month in which the bank account was seized. It is important here that the account holder must actively apply for the P account so that the seizure protection also applies. The application for a P-account differs from bank to bank. Pay Here customers have it very easy here, because the P-account function can be activated quickly and easily via the personal online banking area.