You can close a bank account online
Sparkasse: cancel current account - this is how it works
Are you dissatisfied with the S current account and would you like to leave the Sparkasse as a result? For some users, the fees at the Sparkasse are too high and they are therefore looking for a cheaper alternative. In no case should you prematurely terminate your existing checking account, as this usually causes a lot of problems. In the first step, we recommend that you look for a good alternative using our current account comparison and compare the prices and services of the individual banks. Tip: You can also use the postcode search function in our calculator to display specific offers in your region.
Some institutes offer free checking accounts. However, your needs and the services of the financial institutions should be decisive for your decision. After you have found a new provider, you can start to close the S current account. However, terminating your bank details is always the last step.
Read on biallo.de how the Sparkassen app for mobile banking performed in our test. When selecting the new current account, make sure that the new banking app includes all the functions of the Sparkassen app that were previously required. Otherwise dissatisfaction is inevitable.
Checklist for termination at the Sparkasse
- Find a new current account via account comparison
- Conversion of sales via account switching service
- Backup of all data from online banking
- (Optional) Remove current account as clearing account
- (Optional) bring your account to the “plus”
- Terminate the bank account at the Sparkasse and return existing cash cards
Change of your bank details to the new bank
Are you one of those users who have had your Sparkasse account for many years? Then you should prepare the termination of the S current account very carefully. In addition to regular debits, there are also direct debits or credits that occur irregularly. You should also think about your regular standing orders. You must switch this to the new account before canceling, otherwise there will be default in payment or you will not receive any money.
Don't worry, the account changeover sounds like a lot of work, but it is not. Because when changing accounts, the banks have to help you with the so-called exchange service. In our guide to switching accounts, we explain in detail how you can use the service and what you need to be aware of. Also think of the saved bank details in online shops such as Amazon or other online services that you rarely use. There you can often change the bank details yourself over the Internet.
- Biallo tip: Do not cancel the Sparkassen account until no debits have been recorded on the account statement for a long time.
Remove the S current account as a clearing account
You may also use your S current account as a clearing account for your savings bank deposit account, for fixed-term deposits or a securities account. As a rule, you cannot transfer winnings or payouts from these accounts to any bank account, but only to the so-called reference account. A clearing account that is no longer up-to-date becomes particularly problematic if you cancel the overnight or fixed-term deposit or want to get your money quickly. Therefore, you should save the new bank details as a clearing account before canceling. If you also have the savings accounts or the custody account with the Sparkasse, the change is usually possible without any problems as long as the current account exists.
Even if you have a loan with the Sparkasse, you must change the account before canceling. Finally, the monthly installments are usually debited from your S current account.
Save still benödata from online banking
After canceling, you will no longer be able to access your S current account and online banking. This means that you can no longer access your confidential information via the Sparkassen app either. This may include the categorized income and expenses, bank statements, credit card statements, securities statements, or information in your mailbox. You should save all the data you still need before you cancel. You can either do this with a screenshot or download the information.
What else is there to consider when canceling?
Your Sparkasse account can only be fully closed once it has been balanced. So if you are currently in the red, the account cannot be closed. We therefore recommend that you leave at least a small amount of credit in your account at the time of cancellation. Often there are still fees that have to be debited as part of the termination or final billing. You will not lose the remaining credit, as the Sparkasse will transfer this to your new bank account.
You should invalidate your remaining money cards for online banking by cutting them up. Some institutions want them back, which is why you should submit the cut cards with your cancellation.
Terminate the Sparkasse current account
Once you have completed all of the steps mentioned, you can cancel your current account at the Sparkasse. As a rule, you do not have to comply with a notice period, but you should give the bank a few days in advance to process the notice. Always remember that you can only cancel the account if you are the sole account holder. If you have a joint account, all account holders must sign.
Always cancel your account in writing and preferably send the cancellation to your advisor at the local savings bank. Alternatively, you can of course also send the cancellation to the head office of the institute. Do not forget to sign the notice of termination. You should always send the cancellation by registered mail so that you have proof. Alternatively, you can bring the letter personally to the nearest Sparkasse branch. With some savings banks, you can also cancel your current account via online banking.
In principle, an informal termination is possible. However, all important information should be included. For example, you can use this sample letter from the consumer advice center for your termination.
Did you know that some banks will pay you a cash bonus for opening a current account?
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