The most important things at a glance:
Here you will find answers to the following questions:
Often, consumers who have a P account are given too little or no information on the subject of seizure protection. Even after the account has been attached, those affected often receive insufficient support. We will provide you with information on all aspects of converting a P account back into a current account so that you can manage your finances as usual after you have paid off your debts.
Why do banks refuse to convert the P-account back into a current account?
Many banks refuse to convert a P account into a current account and instead advise customers to cancel the P account and open a new account. That sounds easier than it is, however. Because many banks are not willing to accept a customer who already has a negative entry at SCHUFA. The whole thing is simply an attempt to get rid of affected customers.
How do I behave as an affected consumer?
However, the conversion of a seizure protection account back into a current account must not be denied. Although this is not directly stipulated by law, it can be justified as follows:
A P-account is still a current account. The activated seizure protection is an additional service that is used by affected consumers. The conversion of the seizure protection account back into a current account is to be understood as a waiver of the additional service of seizure protection. Since no new contractual conditions were set with the conversion into a P-account, the said current account is reset to the state it was in before the seizure protection was activated. The account has exactly the same contractual agreements.
Tip : keep the P-account function and protect yourself against future seizures. Without seizure, you can use the P account as a current account as usual and automatically secure the basic tax credit for the future.
If you insist on converting your P-Account back into a current account, persevere and don't let yourself be put off. Under no circumstances can you be denied conversion.