Deutsche Skatbank review

The easy-access account pays a variable headline rate of 1.42%, with a rate type of variable. The money is easy-access rather than a term product, so nothing is locked away and the figure can be moved by the bank.

The minimum deposit is €0, so the account can be opened with nothing and topped up later. The access terms also mean there is no maximum deposit, so a balance can be held for as long as you like.

The current account fee is €0 to €5, and the account model is listed as no monthly fee. Free cash withdrawals and a joint-account option sit alongside it, which is the part most households use.

Deposits are covered under EU DGS up to EUR 100,000, and the institution is supervised by the Bundesanstalt fuer Finanzdienstleistungsaufsicht in Germany. The figure is the ceiling stated for the scheme, so any balance above it sits outside that cover.

Access runs daily to the full balance, with transfers to a reference account at any time and no maximum deposit, and the account kind is listed as easy access. Support for account questions runs on phone, email and help centre.

The 1.42% headline rate sits under the 3.08% on the savings list, placing 363 of 473 brands on that measure. The cost side is stronger, with a €0 to €5 fee and a €0 minimum.

It suits savers who put access and a supervised balance first: a €0 minimum, EU DGS up to EUR 100,000 and daily transfers. PayPal Colombia shows 3.3% and Plazo ES shows 24.19%, so a reader shopping purely on the quoted rate would look elsewhere.

The current account lists joint account and free atm, which covers a joint-account option and free cash withdrawals, so a shared household account is possible. Those features sit on the everyday account rather than on the easy-access savings product.