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Germany-based Commerzbank has announced to customers that the previously-offered free debit accounts will cost EUR 4.90 per month starting 1 July 2021.
However, there will no longer be the need for a monthly minimum income payment, which was previously the case for the free debit accounts.
According to Commerzbank, everything else will remain as usual. Customers do not have to change anything themselves, as the account will be automatically switched from 1 July 2021 onwards.
Commerzbank recently also lowered the limit at which new customers must pay negative interest from EUR 100,000 to EUR 50,000. From this amount, an annual custody fee of 0.5% is due. This new limit should apply from 1 August 2021.
In addition to new customers, this also affects those who have been Commerzbank customers since July 2020. The banks terms and conditions were changed at this time to include a statement on the possibility of shifting negative interest.
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