Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Limit
Credit limit of the cardholder to be set by the banks. The personal and financial circumstances specified in the credit card application (e.g. annual net income, monthly salary) serve as the basis for this.
Account overdraft is subject to interest
The loan granted by the Bank up to the overdraft limit is subject to interest. Depending on the account model and creditworthiness, the interest rate is calculated according to the risk of default. These interest rates vary from bank to bank, so a comparison of different offers is advisable. Some banks also offer overdrafts above the account limit, which may incur additional interest charges.
Daily limit
The daily limit in online banking can be handled flexibly at most banks. For security reasons, it is only possible to transfer a certain amount of money. This makes fraud attempts less attractive because the account can only be debited with the fixed amount. Many banks also offer a weekly, monthly or annual limit.