Commerzbank charges current account fees from May: This is what customers can do

Commerzbank is abolishing its free checking account. From May 2025, customers will have to pay - unless they meet certain conditions. What alternatives are there?

Free checking accounts are becoming a rarity. Now Commerzbank has also decided that its customers will have to pay for account management from May 2025. What are the reasons for this step? And what can customers do if they do not agree?

In future, Commerzbank will charge a monthly fee of EUR 4.90 for current accounts, regardless of the amount of money received. Exceptions will apply to customers who hold assets of at least EUR 50,000 at the bank; for them, the account will initially remain free of charge. Pupils and students will also be exempt from the new fees.

For customers who still want a free account, the Commerzbank subsidiary Comdirect offers an alternative. Account management is free under certain conditions, such as a monthly incoming payment of at least 700 euros or at least three payments via Apple Pay or Google Pay per month.

Commerzbank justifies the decision with economic necessity. Banks are increasingly under pressure because they maintain expensive branch networks while the market is shifting more and more towards digital banking. Low interest rates in recent years and rising regulatory costs have also contributed to the fact that free account models are no longer worthwhile for many banks.

In addition, Commerzbank is in a phase of strategic change. The group plans to cut 3,900 full-time positions by 2027 in order to become more efficient. At the same time, the bank wants to remain independent and fend off a takeover by the Italian Unicredit. By switching to fee-based checking accounts, the bank is increasing its income and making itself more stable for the future.

Commerzbank informs its customers in writing about the new conditions. Anyone who does not agree with the new fees can object within a certain period of time. In this case, however, the bank has the right to terminate the account with two months' notice.

This means that customers must either agree to the new fees or find an alternative. Consumer advocates therefore advise not to act too quickly. Commerzbank customers should examine the new conditions carefully and consider early on whether switching to another bank makes sense. A switch can be worthwhile if another provider offers better conditions.

There are still banks that offer free checking accounts - but usually with conditions. Here are some options:

If you switch accounts, make sure that the new bank really does offer a free account - there are often conditions such as a minimum deposit. Read the price and service list carefully to avoid hidden fees. If you need a branch, check whether your new bank offers this service.

Also remember to switch standing orders and direct debits to the new account in good time so that no payments are missed. Many banks offer a switching service for this, but you should still check all debits yourself. Leave your old account running in parallel for a few months to ensure that all payments are processed correctly.

Inform your employer, pension office and other payment partners about your new bank details. Check whether the new bank offers a checking or credit card with comparable services. If you need help, it may be useful to seek advice from the new bank or to get support from knowledgeable family members.