This is how to cancel the P-Konto

If you use a P-Konto and would like to cancel it, this is quite straightforward to do. Since then, the garnishment protection is namely considered as an addition to a normal current account. So to cancel your P-Konto, you need to terminate the additional agreement.

Cancel P-account

If you take advantage of garnishment protection, you can protect a certain base amount from creditors. In order to cancel the P-account now again, you must instruct the responsible bank to convert the account back into a normal current account, in order to have the normal rights and options for action again.

• By law, a bank is not obliged to convert a P-account back into a normal account. In practice, however, it is usually sufficient to cancel the additional clauses as soon as the attachment is lifted.
• If the account has already been converted into a P account several times, however, it has already happened that the bank has refused
• It gets a bit complicated if you want to cancel your P account and reopen it at another bank. You can only have one P account at a time to prevent abuse of the exemption amount.
• Cancellation is only possible if both banks agree and you first cancel the P account and get paid out before you open a new account.

Tips for canceling the P account

First talk to a bank advisor and explain your situation to him. Especially if no further garnishment is expected, you have a good chance that you can convert your account back to a normal checking account. Also, remember to have your SCHUFA entry checked and, if necessary, request a deletion of the SCHUFA entry. You can then do this when your debts are paid off.