What's a p-account?
Converting your p-account
You're entitled to have your existing payment account converted into a garnishment protection account (p-account), even if garnishments have already been served on the payment account. The conversion can also be requested by an authorised representative.
A garnishment protection account may only be kept on a credit basis. This means we'll cancel any existing credit line and any existing credit card agreements.
The conversion into a p-account must be carried out within one month after the garnishment and transfer order has been served on us. Then, the protective effect of the p-account already applies from the date of service of the garnishment and transfer order.
You may only keep one account as a p-account. Keeping several p-accounts isn't allowed, and can bring you negative legal repercussions.
Protection and allowance for p-account
If the p-account is garnished, you'll receive automatic garnishment protection in the amount of a basic allowance of €1,410.00 per calendar month (as of 1 July 2023). You can dispose of credit balances up to the maximum amount of the basic allowance even after garnishments have been served (e.g., by transfer, standing order, and Direct Debit).
The garnishment allowance for the p-account can be increased by further allowances, depending on your life situation. To get the increased allowance, you need to show proof of the circumstances that make you eligible for a higher basic allowance. You can do this by providing a suitable certificate. This certificate can be issued by the social benefits agency, or a recognised debtor and consumer insolvency advice centre. Can also be issued by an employer, family insurance fund, lawyer, or tax advisor.
Additional information for p-account
If you have any questions or need further advice, you can contact recognised debtor and consumer insolvency advice centres.
You can request an increased allowance by completing this form and submit it using a button below the article.
For more information on the garnishment protection account, please check our general documentation on the p-accounts.