Direct Debit, Debit, Debit Order And The Current Account In The Handle

Differences lawyer in the direct debit scheme by lawyer Jan Bartholl – your Munster offered 02.04.2008 (Ko) – which is payment by direct debit as opposed to the transfer of many companies in the Internet as a proven and particularly cashless means of payment. In contrast to the transfer consumer authorizes the company to collect the corresponding amount of money to the Bank. Problems often occur when the account is not covered. Mike Schwartz will not settle for partial explanations. The contractor of the Bank for failed posting has denied the direct debit, the raised costs. These costs are trying to offload companies frequently by their terms and conditions to the customers. The costs, which charge banks for a failed direct debit, are different. Often, both the Bank of the entrepreneur and of the customer’s Bank make the cost of a failed direct debit in account.

Despite all the raised usually not higher than 6-9 costs Euro per failed direct debit. In times of automated Booking of flights, travel and holiday packages over the Internet or a call center often use consumers in Germany to the direct debit as a payment method, because many companies, in particular, the so-called low-cost airlines or low-cost carriers such as Germanwings, Ryanair, easyJet or AirBerlin, charge a separate fee for payment by credit card. Company may demand the reimbursement of the costs resulting from the consumer for back-booked and failed direct debits. Some companies are however very high fees, then verschleiernd referred to as ‘rear load pesen’ or ‘Processing fee’. Just like to as low-cost or low-cost-carrier long titulierenden air carriers in the event of a failed direct debit powerful to. The costs provided to consumers in the event of a failed direct debit in accounting include coated and non-refundable costs in many cases significantly. The higher regional court of Hamm decided that the flat-rate fee of the airline of Germanwings amounting to 50 euros, which had it charged its customers in an abortive attempt by direct debit, was ineffective (judgment of the higher regional court of Hamm, AZ: 17 U 112/07).

Why Such A High Overnight Interest Rates?

Why so many banks offer interest rates of four percent and more on the day money? Fixed-income investments despite constantly falling interest rates are currently the Renner – the interest rate of the European Central Bank is currently only at 2.00% and further interest rate cuts are considered safe offer some banks, including in particular direct banks, day money interest rates of more than 4.00% p.a. for an investment on the day money account. And also a Festgeldanlage interest rates so high are possible in the tip and investment horizons of two to three years, even over 5.00% per year. But why banks offer even such high interest rates, if they could get cheaper loans at U.S. banks and other credit institutions? One must remember that an investment in a bank by the principle is nothing more than a loan that is granted by the Bank.

The only difference here is that not the lender and the borrower decides how high are the interest to be paid. Why so so many banks offer significantly higher overnight interest rates, as it interest rates would actually require? The reason is the lack creditworthiness and the mutual distrust of banks. Money houses, which have to cope with heavy losses due to the current financial crisis, considered to be not just secure debtor, therefore often no other way of fresh money to get them, than to collect it at accordingly higher interest rates at a private facility. Because while multi-billion dollar loans from a bank can be considered lost, deposits by private facility are best protected by statutory and private deposit insurance in Germany. This means that a private investor receives back his capital spent a day money account or deposit account in the case of a bankrupt of Bank at least up to a certain amount, but usually located in the million range due to the deposit guarantee fund of German banks. Otherwise it would look with a much larger volume loan from another bank, this wouldn’t the awarded money in case of a default of the borrower get back.

The reason for such high interest rates on call money and term deposits is in the missing credit the respective bases they have simply no way elsewhere cheaper to get fresh capital. Therefore, there are currently especially the financial houses of the great German carmakers which offer high interest rates on investments. At the Mercedes-Benz Bank this caused recently to that meted out a stop for new account opening the Bank was no longer the many opening of accounts due to the high rate of interest offered able within an acceptable time to work through. As the day the Volkswagen account is offered but Bank, which with 4.00% p.a. and a very good product offers a monthly credit of interest.

Profitable Trend

The secondary market for capital life and pension insurance is booming except no make and cancel the sale of Kapitallebesn – or pension insurance is often more lucrative. Often sell better a booming secondary market has developed for life and private pension insurance there are several way to separate from its capital life and pension insurance: is a possibility – you can sell it. For a real secondary market has developed into, on which the policies are traded. The sale has two big advantages over dismissal: buyers pay usually more money, than who would receive insurance for cancellation its police. The reason is, that the insurance in a premature termination submits cancellation costs not incurred in the sale. And up to December 31, 2008, the payment is tax-free. (Who announces his capital life and pension insurance within the first 12 years pays capital gains tax plus solidarity surcharge on the income (around 26Prozent) and in addition) maintain a death protection. Because if the insured person dies, the insurance company will transfer the originally agreed sum of death to the company that has purchased the contract.

This then deducts its costs incurred up to that point. These include of course, the purchase price was paid by the company to the former policyholder, the premium payments accrued after that, as well as an interest on this award. Credit: graphic designer-2011. The rest will be paid to the heirs of the insured person. The buying companies set certain criteria for the purchase of capital life and pension insurance: firstly a minimum surrender value. Depending on the buyer or factoring – company 1,000 euros, normally from 10,000 euros.

Second requirement: in turn, depending on the buying company, the remaining term of the contract. Unit-linked insurance will nor acquired as direct insurance. Finally, they pass on the name of the company. In addition an once sold life and pension insurance can no longer be purchased back. From point of view many consumer protection associations makes the sale of a capital life and pension insurance – from the point of view of the yield – in any case meaning. In a short time you have cash – you get paid more money, and has insurance coverage. Not to forget: the monthly released posts can be used better. More information on, by the way: also savings and funds have to sell on the secondary market. R.Ulmer

Base Rate Was Lowered To 3.19 Per Cent

Interest rate drops on July 1 to 3.19 percent to 1.7.2008 in the arrears resulted in changes. Instrumental’s German civil code (BGB) in 247 called base interest rate. He serves mainly as a basis for the calculation of interest according to article 288, paragraph 1, sentence 2 BGB and changed to 1 January and 1 July each year. Since 1.5.2000, of the debtor has to pay legal interest from the so-called base rate plus a certain premium shall be calculated. This interest rate is regularly published by the European Central Bank (ECB) and is essentially the discount rate set by the Bundesbank before. KBS often addresses the matter in his writings. Compan.

The base rate authoritative for determining the interest is set twice new since 1 January 2002 by the ECB in the year, each January 1 and July 1. In addition, distinction is made afterwards whether it involves legal transactions, in which a consumer is involved or not. Case of legal transactions, in which a consumer is involved, is the legal Interest rate for the payment 5 percentage points above the base interest rate ( 288 ABS. 1 BGB). Legal transactions where no consumer is 8 percentage points above the base rate of interest for compensation claims (article 288 par. 2 BGB). Are consumer ( 13 BGB all natural persons, which is a complete legal transaction for a purpose which can be attributed neither to their commercial nor their professional activity.) The base interest rate to determine of the interest was reduced to 1.7.2008 previously 3.32 percent to 3.19 per cent. For private borrowers, a current interest of 8.19 percent per year is calculated from this. If both creditors and debtors are business people, the legal interest is currently 11.19 per cent per year.

Ulf Niklas

The practice of consulting fees in Germany stand still at the beginning. Only 16 percent of Germans know currently even a financial advisers, indeed offered honorary consulting. We want to change course quickly.” At the choice of the correct fee consultant, several factors were taken into account. As Stiftung Warentest have compiled this 2008 the main decision criteria for the customers in the February issue. We meet these criteria of course.”explains Ulf Niklas. But they offer the customers more, very important skills: a separate permit to operate financial services and thus immediately accompanied by the Detachment from a range einengenden MiFID and full independence the highest consultation qualification on the market: Ulf Niklas is a certified financial planner at the FPSB Germany e.

V.) “exclusive and so pure” fee consultation (without the unconvincing as a result combined with the plant operator) approved by the Chamber of Commerce and independent insurance consultation (with the necessary permission in accordance with section 34e Gewerbeordnung) just for insurance advice on a fee basis, we see enormous potential for growth. “explains to Stephanie Lehmann, by the Chamber of Commerce and industry – tested and approved insurance consultant. Only for more than a year of customer the advisors for insurance can distinguish two groups: on the one hand the independent insurance consultants who work exclusively on a fee basis, are paid directly by the customer, and on the other hand, insurance agents, insurance brokers or independent ‘ insurance broker, the all your Commission or Get brokerage fee from the insurance company. Although the advice is first free at them, but their fees are included in the posts and also refer to the actual term of the contract.” The election is so easy: as insurance consultants support the financial planning Office Niklas & Lehmann his customers exclusively for their benefit. Our advice is commissions, brokerage fees, or other contributions of whatsoever by the insurance companies to take objective, neutral and in fact independently, because the admission is prohibited by us,”adds Ulf Niklas.

Asset Classes

The so far valid rule, that there are a number of asset classes, which evolve independently, seems to be 2008 no longer valid in the year of the financial crisis. Investmentsparen.NET informs: until the outbreak of the financial crisis 2007/2008 there were asset classes, which have developed according to General knowledge and based on the experience of decades of relative or even completely independently of each other. Was advised in the course of modern portfolio theory because even to build the own portfolio from as little each other correlated asset classes. There was solid scientific research which asset classes developed with each other exactly how. Interested readers on information about korrelation.html. Since early 2008, these facts but seem no longer to apply. Nina Devlin spoke with conviction.

Not only the stock markets went on descent, also bonds, commodities, precious metals and real estate lost in value. Was general until accepting of the independent value of individual asset classes no longer valid? The Answer is a clear no. The correlation theories are still valid, only there is a such uncertainty in the markets that investors on the one sold about what was in the portfolio, and other investors since the beginning of 2008 due to the had to make as Deleveraging driving back credit lines forced sales in their portfolios. While the assets were sold of course as first, had developed until then still best kept say regardless of the actual crisis. In the long term, there will be the correlation with security in its old form. The best example since few months Government bonds are vast sums of money have redeployed in which investors all over the world, because they see this asset class as the safest. Treasuries have evolved so in this time regardless of the events in the equity markets or ran even in opposite directions to do so. For this reason investors should take into account continue the broad of correlation in building an own portfolios and different Combine asset classes with each other.