Flexible Savings with a Call Money Account Do you want to invest money but still have access to it at any time? Then a call money account (also known as a day money account or overnight money account) is the perfect solution for you. It combines the security of a classic savings account with the flexibility you need in everyday life. What Is a Call Money Account? A call money account is a flexible investment where your money is not tied to specific terms. Unlike a fixed-term deposit account, you can access your entire balance at any time without having to fear losing interest.
The Advantages at a Glance:
Available at any time: You can deposit and withdraw your money daily. It’s ideal for your emergency fund or short-term savings goals.
No notice periods: You don't have to terminate your account to get your money.
High security: Your balance is protected by the statutory deposit insurance up to €100,000 per bank and per customer.
Attractive interest rates: Call money accounts usually offer higher interest rates than a regular checking account.
Full flexibility: There are no fixed savings rates. You can deposit money whenever and however much you want.
Who Is a Call Money Account Suitable For? A call money account is ideal for anyone looking for a safe and flexible way to put money aside. Whether for unexpected expenses, your next vacation, or as an interim solution before you decide on a long-term investment—a call money account is the right choice.
What Else You Should Know:
Interest credit: The interest is usually credited to your account monthly, quarterly, or annually.
Interest rate: There is often a variable interest rate. This can change over time.
Reference account: A call money account is always linked to a checking account (the so-called reference account). Deposits and withdrawals are only possible between these two accounts.
Do you want to get started right away? Compare the offers and find the call money account that suits you best.
Before we begin the calculation, we first need to outline the important criteria for a call money account:
1. The money must be available to you daily
That's why it's called call money. Offers with deadlines or long waiting periods are not considered call money. The processing time must not exceed one business day.
2. Investment Security
The security of an investment indicates how high the risk of losing money is. All forms of investment carry risk. Call money is generally considered very safe. Balances up to a certain amount in checking accounts, call money or fixed-term deposit accounts, savings accounts, and many other savings accounts, as well as clearing accounts, are protected by statutory deposit insurance in many countries. Carefully research the bank behind the offer.
3. Interest Rate
The higher the interest rate, the higher your return. Some offers offer high interest rates for a very short period, after which variable interest rates apply. These offers are intended to attract new customers, which is beneficial for us as investors. However, you must be prepared to switch frequently. This leads us to the next criterion:
4. Offer duration
Unlimited offers are the best solution for passive investors who don't want to search for offers frequently. However, offers with high interest rates are often time-limited and therefore ideal for investors looking for a short-term parking space for their money.
5. Payment of interest
Your money can earn interest annually, monthly, or daily. The more frequently the interest is paid, the higher your return.