Your cash account
With the cash account, we offer your customers an easily liquidatable investment as a sensible supplement to the custody account. With a fund custody account, purchases can be debited to and sales credited to the cash account. Tax refunds, liquidation proceeds, custody account management fees, postage expenses and other expenses and fees can also be settled via the EUR cash account.
- Possibility of opening an account in foreign currencies in connection with a EUR cash account
- Avoidance of currency risks when selling funds in foreign currencies.
- More convenient and efficient implementation of your fund investments.
- You will receive a free account statement in your InfoManager at the end of the quarter, in the case of account movements directly afterwards.
Custody fee for credit balances
Abolition of the custody fee on credit balances
as of 1 September 2022
As the European Central Bank has increased the underlying reference interest rate, we set the custody fee for balances on EUR cash accounts at 0.00%.
Current interest rate (as of 1 April 2024)¹
| Currency | EUR² | USD³ | GBP⁴ | CHF⁵ |
|---|---|---|---|---|
| Interest rate for credit balance | 2.00% p.a | 0,00% p.a. | 0,00% p.a. | 0,00% p.a. |
| Debit interest for tolerated overdrafts | ||||
| nominal | 14,00% p.a. | 15,31% p.a. | 15,19% p.a. | 11,70% p.a. |
| annual percentage rate | 14,76% p.a. | 16,22% p.a. | 16,08% p.a. | 12,23% p.a. |
| Custody fee⁶ | ||||
| EUR/money account | 0,00% p.a. | |||
| Allowance⁶ | Current goodwill solution EUR 100,000.00/money account | - | - | - |
1 The calculation of the interest is based on an interest scale according to the German interest method (30/360), interest is adjusted monthly).
2 For EUR accounts, the "ECB deposit rate" is used as the reference interest rate. A margin premium of 10.00 percentage points is applied to the reference interest rate for tolerated overdrafts. For deposits in EUR accounts, a margin discount of 2.00 percentage points is applied to the reference interest rate. The maximum credit interest rate for deposits is limited to 4.50% p.a. (upper limit for interest on deposits).
Any resulting negative interest rate is currently not passed on to customers.
3 For USD accounts, the "Secured Overnight Financing Rate (SOFR)" is used as the reference interest rate basis. For tolerated overdrafts, a margin surcharge of 10.00 percentage points is applied to the reference interest rate. No interest is paid on deposits (credit balances).
4 For GBP accounts, the "Reformed Sterling Overnight Index Average (SONIA)" is used as the reference interest rate basis. For tolerated overdrafts, a margin mark-up of 10.00 percentage points is applied to the reference interest rate. No interest is paid on deposits (credit balances).
5 For CHF accounts, the "Swiss Average Rate Overnight (SARON)" is used as the reference interest rate basis. For tolerated overdrafts, a margin surcharge of 10.00 percentage points is applied to the reference interest rate. No interest is paid on deposits (credit balances).
6A custody fee is charged on the credit balance that exceeds the allowance of EUR 5,000/money account. Temporarily, a custody fee will only be charged on the credit balance exceeding EUR 100,000/cash account. This temporary partial waiver of a custody fee does not constitute a claim to such a waiver in the future.
If the main bases for calculating the reference interest rate change or if the reference interest rate can no longer be determined temporarily or permanently, the bank will use the reference interest rate that replaces the reference interest rate or another suitable reference interest rate. This cannot be named at present. The Bank will inform you of the new reference interest rate in due course.
Interest rates for the cash account:
The credit interest rate and debit interest rate for tolerated overdrafts are shown on the Bank's homepage at www.fondsdepotbank.de/geldkonto.
The Bank shall make changes to the interest rates on the 1st of the month on the basis of the reference interest rates determined on the 15th day of the previous month. If the 15th day of the previous month does not fall on a bank working day, the value of the next bank working day will be taken as a basis. (Excerpt from our list of prices/services)
The current interest rates for products that are no longer sold, deviating interest rate agreements, in particular regarding the interest rate or margin discount on the respective reference interest rate, or for special products can be found on the account statements provided on a regular basis.
