Sustainable Checking Account - What you should consider

Are you wondering how you can change financially ethically and environmentally conscious in addition to a sustainable lifestyle and consumption habits? Then you've come to the right place, because just like with green electricity, there are real alternatives in banking and established principles by independent control bodies. Read on to find out why sustainable checking accounts are so important and how you can make sure your bank is truly sustainable.

Our money is a powerful tool to create positive change in the world. Conventional banks often use our money to invest in controversial industries such as fossil fuels, rearmament, or reckless business practices. With a sustainable checking account, on the other hand, you can ensure that your money goes to companies and projects that take social and environmental responsibility. But how do you find such ethical financial institutions? Our simple price comparison is based on the Fair Finance Guide's list of the positively rated banks.

The Fair Finance Guide Germany, in cooperation with Facing Finance e.V., the Südwind Institute and the Bremen Consumer Advice Centre, has analysed the social and ecological commitments of 19 selected German banks and savings banks on the basis of 286 criteria from 14 subject areas – not only by banks with existing sustainability standards. The last review was published in March 2023. The banks' policies for lending to companies, project financing, own investments and asset management were assessed. With us, you can compare all positively rated banks from the last Fair Finance Guide 2023 on current price and performance.*

The evaluated criteria cover various areas such as climate protection, anti-corruption, gender equality, human rights, labour rights, nature and environmental protection, taxation, armaments, food, forestry, mining, oil and gas extraction, energy production, as well as transparency and accountability.

🌿💰 Compare sustainable banks

If you want to open a sustainable checking account, there are a few steps you can follow to ensure that your bank is truly following sustainable principles:

Research

Find out about the different sustainable banks in your country. The Fair Finance Guide can be a great resource for finding out which banks are operating sustainably.

Ask questions

Don't hesitate to ask your bank about their ethical principles. How do they invest your money? What projects do they support? The more you know about the bank, the better you'll be able to assess whether it aligns with your values.

Check alternatives

Consider whether a sustainable checking account is the best option for you. There are also sustainable mutual funds and savings accounts that direct your money to green projects.

Compare

Use comparison tools to compare the different sustainable banks with each other. In doing so, you should consider not only the fees, but also the ethical principles and the services offered.

Sustainable banks can have a significant positive impact on the environment and society. By investing money in renewable energy, social projects and environmentally friendly businesses, they actively contribute to solving pressing global problems. These banks not only promote the transition to a sustainable economy, but also send a strong signal for ethical conduct in the financial sector. Sustainable checking accounts are not only a way to incorporate green values into your financial life, but also a contribution to a better world. Think about how you can use your financial power to create positive change.

Which banks can be considered sustainable and environmentally conscious?

Several banks are committed to ethical and environmental banking. These include environmental banks, ethical banks, and eco-banks. We have compared all eco-banks with the highest socio-ecological ratings on price and service based on the latest Fair Finance Guide for you.

Criteria for a sustainable bank

Sustainable banks are committed to transparency, ethical investment, social responsibility and environmental protection. They avoid investing in environmentally harmful or ethically questionable companies.
🌳 Avoidance of controversial sectors: A sustainable bank must not invest in controversial sectors such as fossil fuels or armaments.

🌍 Transparency: The bank must report transparently on how it handles its customers' deposits and how it ensures that the money is invested sustainably.

🤝 Social responsibility: Sustainable banks should also be socially committed, for example by supporting social projects or promoting fair working conditions.

🔄 Regular review: Compliance with these criteria is regularly reviewed to ensure that banks are meeting their obligations.

Supported projects

Sustainable banks often focus on social and environmental projects. They support renewable energy, education, health, and charitable initiatives.

Transparency

Sustainable banks are characterized by their openness. They inform their clients about their sustainability initiatives and their investments.

🌿💰 Click here to compare prices

* The use of the Fair Finance Guide's sustainability assessment is supported by Facing Finance allowed. The methodology and composition of the bank assessment are available on the website of the Fair Finance Guide to be extracted. There is no cooperation between Facing Finance and BeChange. Facing Finance e.V. is a non-profit organization and independent of companies, banks and other financial institutions.