How to switch your 3a account: simple, safe and without pitfalls

Why it pays to switch your 3a account

Many people pay into pillar 3a every year, whether into a classic 3a savings account or a 3a securities solution. But few regularly check whether their current account still offers good conditions.

Yet a switch can be worth real money:

• Interest: interest rates on 3a accounts currently range between 0 % and 1 % (as of 2 October 2026, Evaluno’s 3a account comparison of over 100 accounts). Anyone who stays with a provider at the lower end gives away up to one percentage point per year.
• Fees: with 3a funds in particular, ongoing costs are decisive. Annual total costs range from 0.1 % to around 1.7 % (as of 30 June 2026, Evaluno’s 3a fund comparison of over 300 funds).
• Return: anyone who opts for funds instead of a savings account has considerably better long-term earning prospects, with corresponding fluctuations.
• Flexibility: some providers let you put together your own portfolio instead of choosing a fixed strategy fund.
• Usability: digital providers often offer a clearer app and faster processes.

Is a switch worthwhile for you?

• Is your money in a savings account? Switching to a securities solution often brings more than a pure change of provider.
• Are you paying more than 0.6 % in total costs per year? Then there are cheaper alternatives. In the 3a fund comparison you can sort by fees.
• Do you have more than 10 years until retirement? Then a higher equity share can make sense, because you have time to ride out fluctuations.

Which rules apply when switching a 3a account?

Before you switch your 3a account, you should know a few points:

• Number of accounts: you may hold any number of 3a accounts in parallel; there is no legal upper limit. Some providers cap the number internally, often at five accounts.
• No direct “move”: a 3a account can’t simply be moved. You open a new account and have the old provider transfer the balance, always the entire account. Partial transfers are not permitted.
• Tax-neutral: the transfer is tax-free as long as the capital remains in pillar 3a.
• Notice periods: some banks apply a notice period; many digital providers have none. If you don’t observe it, a fee may apply. So check your provider’s regulations before switching.

How long does the switch take?

With a savings account, the transfer usually takes only a few days to weeks. With securities solutions, selling the funds and transferring the proceeds come on top; allow several weeks. Any notice period at your current provider extends the switch further.

Switching your 3a account in 4 steps

1. Compare providers

The 3a account comparison shows you the interest rates of savings accounts, the 3a fund comparison the fees and performance of fund solutions. Small differences add up to large amounts over decades.

2. Open a new 3a account

Decide on a provider and open your account there; online, this often takes only a few minutes.

3. Instruct the transfer

Tell your current provider in writing that you want the balance transferred to the new 3a account. You usually get the necessary forms directly from the new provider.

4. Check the confirmation

After a few days to weeks, the money should have arrived at the new provider. Check the amount and make sure no unnecessary fees have been charged.

Tips and pitfalls when switching provider

• Check transfer fees: many providers transfer free of charge; some charge a fee. Ask about the conditions before switching.
• Plan for the fund sale: with securities solutions, the units are generally sold for the transfer; your money is briefly not invested during the transfer. Gains remain tax-free as long as the capital stays in pillar 3a.
• Caution with insurance policies: with 3a insurance solutions, the surrender value in the first years is often well below the premiums paid. Ask for the surrender value before you cancel.
• Use several accounts: existing 3a savings can’t be split. You can, however, pay future contributions into an additional 3a account. That way you spread the withdrawal over several years and break the tax progression.

Conclusion: switching is often worthwhile

Switching a 3a account is straightforward and can pay off financially, whether through better interest rates, lower fees or a more suitable investment strategy. Evaluno’s 3a account comparison and 3a fund comparison show you in a few minutes which offer suits you.