What's p-account and how can I get it?
A p-account is a legal protection against garnishments which can be applied to any account type that we offer. If you have a German IBAN you are generally entitled to convert your N26 account to a p-account. This means that in case you have an active garnishment, you'll have a monthly allowance of normally 1178,59€ which remains accessible to you and inaccessible to the creditor on a per month basis. An active alimony garnishment can decrease that amount. Please note, however, that we need to report the conversion of you account into p-account to SCHUFA AG.
You may decide to convert your N26 account to a p-account in case your N26 account has been garnished. Please note that in this case we are obligated by law to seize your account. You will simultaneously receive a detailed in-app message from us to your Messages with N26 with all information regarding your garnishment and the options available to you. We encourage you to read it carefully so you are also informed about your other options, before making a decision.
In order to get a p-account, please fill out this p-account form(new tab) and sign it. You'll also find this link in the in-app message you received from us regarding your garnishment in Messages from N26. Please send the form back as a direct reply to that email or from your registered email address to email@example.com.
- If your account has been garnished and you have an open credit or overdraft at the time of conversion to a p-account, we will have to cancel your overdraft and/ or credit.
- You're allowed to have only one p-account. Having multiple p-accounts (even at other banks) is a violation of the law and can lead to an extraordinary termination without notice of your N26 account.
What does a p-account cost?
The conversion to a p-account is free of charge and doesn't entail additional monthly fees. Already existing fees, such as account usage and premium subscription fees, will still apply.
How can I increase my monthly allowance?
In order to increase the basic allowance of your p-account, we’ll need a completed certificate from an authority or appropriate body under § 850k (5) Code of Civil Procedure. This also applies to a one-time increase (e.g. for forwarding a rent deposit loan). You can get this certificate issued from the following authorities:
- Your employer
- The institution making payment of the child benefits (Familienkasse)
- A nonprofit debtor and insolvency advisory body
- The job center
Please send us the original certificate by post to:
N26 Bank GmbH
10179 Berlin Germany
How can I convert my p-account back to my normal account?
In order to convert your p-account back to your normal account you can send us an email from your registered email address to firstname.lastname@example.org with the following information:
- Your first name and surname
- Your N26 IBAN
- Confirm that you want to convert your p-account to your normal account.
In case you still have an active garnishment, please be aware that your account will be seized immediately and your funds transferred to the creditor.