The state-certified checking account comparison should actually be ready almost two years ago. Now the certification finally seems to be imminent.
In an old hanging game is apparently moving: As we learned from TÜV Saarland, the official certification of a comparison platform for checking accounts in Germany is about to be completed. “It should be so far this month,” said Managing Director Thorsten Greiner of the FAZ. Since October 2018, Federal Finance Minister Olaf Scholz (SPD) owes such a state-certified comparison platform, which would actually have been more than a year and a half ago with the implementation of a European directive should be available.
The state requirements should ideally ensure that consumers get the best possible overview of offers and that the comparison is made as undistorted as possible by the commercial interests of the platform companies. Politicians had chosen this way of certifying a private platform as a more market-based alternative to a state comparison platform. Obviously, the whole process of certification takes a long time. It was only shortly before the turn of the year that it was even clear which body in Germany could carry out these certifications. TÜV Saarland had received a corresponding accreditation from the German accreditation body.
Several providers of existing comparison platforms had inquired about the conditions, but then reportedly held back. Some smaller comparison platforms found the certification fees too high. Other, larger and financially stronger providers are said to have partially disrupted the requirements for the design of the comparison pages.
The TÜV has not yet revealed which provider will be certified. Verivox, one of the larger platforms, announced on request that it was currently not about to acquire such a certificate. The providers Biallo and FMH Finanzberatung do not seem to be either. It is noticeable that the large Check 24 platform, which wants to launch its own bank with a comparison site in October, at least did not want to rule out the possibility that it was the current candidate. A spokeswoman referred to the TÜV for inquiries in this regard: “Unfortunately, we cannot make a statement at this point.”