Daily allowance
What is daily money?
Call money is a flexible way to save money and access it at short notice. To invest your savings as call money, you need a call money account held at a bank that offers variable interest rates without fixed notice periods. Savers can deposit any amount and receive interest on the amount invested. Since the term is not set in advance, investors can access their call money at any time, which makes this type of investment particularly popular in Germany.
Unlike other accounts, a call money account is not intended for everyday payment transactions and cannot be used for transfers or standing orders, as is the case with a checking account. Instead, the money invested is deposited or accessed in a clearing account, similar to a savings account. There are no notice periods, and call money investments do not offer negative returns compared to securities.
How high are the interest rates on overnight money?
Overnight interest rates in Germany are continuously falling and currently average around 0%. This is because banks set their interest rates based on the capital market interest rate level and the key interest rate of the European Central Bank (ECB), which means that changes in ECB interest rates usually also affect overnight interest rates.
However, there are clear differences in interest rates when compared to the offers of European banks. Via platforms such as Heveller Finanz GmbH, investors can compare overnight interest rates from different banks and achieve interest rates of up to 3.80%.
For whom is a daily money account worthwhile?
A call money account is generally suitable for anyone who wants to have access to their invested capital at any time and who places great value on security. It is particularly useful for savers who do not want to park their money in non-interest-bearing checking or savings accounts. A comparison of interest rates shows that call money accounts, especially at foreign banks, often offer significantly more attractive returns.
What should I do if I want to withdraw my daily allowance?
With a daily savings account, savers can choose whether they want a partial or total withdrawal via Heveller Finanz GmbH. This order can be made at any time in the investment cockpit, and on the next business day the deposits, including interest, are transferred to the deposited reference account.
The advantages of a daily money account
The greatest advantage of a call money account is its flexibility. Savers can keep the entire investment amount in the short term, change banks, transfer deposits to a reference account or deposit additional money. In addition, call money is a straightforward form of investment that is protected by the EU-wide harmonized deposit guarantee of up to 100,000 euros per customer and bank.
How safe is overnight money?
How deposit protection works
In contrast to other investments, such as securities, there is no possibility of price losses with daily money. In addition, investors who use products in the daily money comparison of Heveller Finanz GmbH are not faced with any additional cost risks.
Double protection through voluntary deposit insurance
Fixed Deposit Advantages
Heveller Finanz GmbH at a glance
- Investing money from 20,000 euros
Registered users of Heveller Finanz GmbH can access a variety of attractive offers for daily money and fixed-term deposits with just one account, starting with a minimum investment of 20,000 euros.
- 30 billion euros in savings deposits brokered
Heveller Finanz GmbH has so far brokered over 30 billion euros in savings deposits and offers its investment services to 200,000 customers.
- An excellent investment service
Our service has already been rated several times, including the TÜV seal with a grade of 1.8 and the award for “Highest Customer Satisfaction” in the Digital Financial Experts category by Focus Money and several other renowned and independent online portals.
What is the difference between call money and fixed-term deposits?
The difference between call money and fixed-term deposits lies primarily in flexibility and the investment period. While call money has no fixed term and investors can access their deposits at any time, with fixed-term deposits an amount is invested for a predetermined period of time and at a fixed interest rate, whereby the money cannot be withdrawn during this period. In addition, the interest rate on call money can be adjusted daily, while with fixed-term deposits it remains stable until the term ends.