# Garnishment protection account and P-Konto (pledge-free account)

- Canonical URL: https://www.gerhardmerk.de/garnishment-protection-account-and-p-konto-pledge-free-account
- Post ID: 591741
- Modified: 2023-07-25T21:02:25+00:00
- Language: en

## Definition

Account held at an institution in which a debtor can participate in non-cash payment transactions and dispose of the unseizable portion of his income. Such accounts have been introduced in Germany since July 2010. However, banks are permitted to charge special account management fees for such accounts and also to restrict the full range of services offered by the institution to the respective account holder. - See Unbanked. - Cf. BaFin Annual Report 2011, p. 255 f. (BaFin rejects complaints about restrictions on use; participation in online banking may also be denied for a P-Konto). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

- Generator: Merk Knowledge 1.1.1