Garnishment protection account Unfortunately this specification of service has not yet been completely translated.

From 1 January 2012, banks and savings banks will no longer be legally obliged to leave social benefits received on the account for a period of 7 days.

Banks and savings banks must pay out all incoming payments to creditors upon presentation of proof of titled claims.

Beneficiaries under the Social Security Code XII or the Asylum Seekers Benefits Act are entitled to have their current account converted into a seizure protection account.

Only a garnishment protection account protects against garnishment up to the amount of the retention limit. The automatic garnishment protection then amounts to 1,179.80 Euro per month. This basic allowance can be increased in certain cases.

  • Proof of receipt of social benefits,

    In order to apply to the financial institution, proof of receipt of social benefits must be provided.

Preconditions

Any person with debt obligations may arrange for conversion into an attachment account.

Hints

In case of seizure of assets and therefore lack of funds to cover living expenses, recipients of benefits under Social Code Book XII and the Asylum Seekers Benefits Act can contact their competent social centre.

The effected seizure must be proven by presenting a current bank statement or a booking confirmation (for savings books).

The application for an attachment protection account shall be submitted to the credit institution, bank or savings bank where the account is held.

The receipt of social benefits is proven by presenting e.g. the notice of social benefits. Then the payments are secure up to the allowance amount.

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