When your account is transferred to the German branch, any interest earned will be subject to a 25% German withholding tax, plus a 5.5% solidarity additional charge.

If applicable, church tax of 8% or 9% will also apply. These taxes are deducted directly by us and paid to the tax office.

Remember, you have an annual tax allowance of 1000 EUR for investment income, which doubles for married joint filers. To benefit from this allowance, please call Customer Care to set up a tax exemption order.