Deposit business

The deposit business of the banks includes the acceptance of foreign money as interest-bearing or non-interest-bearing deposits in the form of sight deposits, time deposits and savings deposits.

Sight deposits (sight deposits, giro deposits) Deposits in the current accounts or current accounts of the bank customers are called daily monies. They are due at any time (on sight) and are used to process payment transactions.
Sight deposits earn minimal or no interest at all. The banks issue account statements about the movements on the current accounts. Settlement via fees, credit interest or debt interest usually takes place at the end of each quarter.

Time deposits are deposits with banks and savings banks with agreed due dates (fixed-term deposits) or legally stipulated due dates (termination deposits). They are mostly invested as monthly or three-month money and are used for investment purposes because the interest rate is higher than the interest rate on savings deposits.

savings dienen ebenfalls der Vermögensanlage und stellen Einlagen dar, die durch Ausstellung eines Sparbuches als solche gekennzeichnet sind. Banken dürfen nur solche Einlagen als Spargelder annehmen, die der Ansammlung oder Anlage von Vermögen dienen. Damit stehen Spareinlagen nicht für den Payment transactions zur Verfügung. Der Kunde kann also nicht per Scheck oder Überweisung darüber verfügen.
According to the notice period, a distinction is made between the following deposits:

In the case of savings deposits with a statutory notice period, a maximum of EUR 2,000 can be withdrawn within 30 interest days; larger amounts require a three-month notice period. If the saver still has larger amounts, advance interest will be deducted.

Savings deposits with an agreed notice period have a six-month blocking period and can then be terminated with a minimum notice period of 6 months. Here, too, the crediting of advance interest applies if the agreements are not adhered to.

The customer may only dispose of savings deposits on presentation of the savings book. The bank is entitled, but not obliged, to check the holder's legitimacy. Savings bank books are therefore also considered to be limping bearer papers.

The savings business is an important basis for an economy's capital formation. For the majority of the population, the savings deposit is always the most popular form of investment despite the comparatively low return due to the high level of security.

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