Call Money

What exactly does Call Money Mean?

A day money account has to show compared with customary accounts some advantages. Thus the account holder has to order the possibility daily of the „paid interest account“. There are not also terms of notice in contrast to other savings accounts. A day money account is not determined for the payments, hence, debits are also not ordinarily possible.
The interest of the day money account is paid mostly yearly (mostly at the end of the year). Banks use this, however, differently. Hence, some banks also pay monthly or every three months. Also the interest is fully paid interest with, why a monthly payment for the customer is the most profitable and the so originating compound interest effect shows only one minimum effect.

The day money account is worthwhile also as a pure investment. Saving is especially easy, because with the model day money higher interest is calculated, than for current savings books. The customer has no regulations for which period he must put on the money. Besides, also he can dispose daily of the saved day money. This is suitable, particularly when the customer suffers a financial emergency or liked to invest the saved money of the day money account better (e.g., in another day money account with conditions much better still), the so invested money is available any time. Hence, also the concept day money.

The saving ordinarily functions by day money as follows: Money on the existing day money account is transferred regularly by an authoritative account (e.g., own giro account). To receive again then the money of the day money account, one transfers the saved money simply back to the giro account. For this no additional costs result. Directly to remove the money of a day money account is not possible. Hence, there is neither an EC-card to the day money account nor owns it comparable access functions like it with a normal giro account the case is. Also here there are exceptions again, indeed, most day money products need an authoritative account about which the whole payments – all attacking payments and payment are unwound.

The risk with an investment above day money tends to zero. Even if other finance products promise more profitable interest yields, the risks are far higher than those of a day money account. Thanks to the simplicity of day money, there are nearly daily new offers for day money products. Above all on-line the customer has so the possibility, that to find suitable product for him. This quite simply goes: For this the application plate fills only one on-line form in which he sends or sends by fax. Short time later a way is necessary to the post, so that himself the customer about the Postidentification procedures can verify.

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