For checking accounts you can set limits for both "Minimum balance" and "Maximum credit", but for savings accounts, only a "Minimum balance" warning can be set (from the menu Account /Edit account... /Limits)
Is there any workaround for this? because it's common (at least in Europe) to have savings accounts that are limited to a certain max balance.
I don't understand why kmm removed this option for savings accounts. Or may be I don't get what is the difference between a checking and saving account for kmymoney?

A checking account can have credit, ie you borrow from the bank. The savings account does not have this.

What we didn't think of, was adding a maximum balance setting.

Hei Ku wrote:A checking account can have credit, ie you borrow from the bank. The savings account does not have this.

?? Sorry not sure I understand. I can borrow credit from a bank and transfer it direct to my savings, can't see any difference between checking and savings account for this.

As far as KMM is concerned the only differences I've seen so far are:
1) If you uncheck "Always show a No. field" on the Ledger Display settings, you have a No. field only for checking when entering a new transaction.
2) That 'Maximum credit" not showing for savings limits.

It would be nice to have a warning when the maximum amount of a savings account is (almost) reached.
But I also noticed anyway that warnings are displayed only for minimum balances. Max balances are ignored.
So for example if I put 5000 EUR as a max for a checking account which has 4500 EUR balance, if I enter a new credit of 1000 EUR I don't get any warning at all.

That seems to be a bug.

kbob wrote:can't see any difference between checking and savings account for this.

Have you tried going in the red on a savings account? You cannot. But you usually can on a checking account.

kbob wrote: ... you can set limits for both "Minimum balance" and "Maximum credit", ...
... because it's common (at least in Europe) to have savings accounts that are limited to a certain max balance.

The "Minimum balance" is for the minimum positive balance of an account
The "Maximum credit" is for the maximum negative balance of an account.
A savings account cannot have negative balance!

A "Maximum balance" value is not available a I do not see any need for it.
There might be some saving account with limited maximum value, but the bank will refuse the overlimit transactions to these accounts or reduce the interest rate automatically.

If you have too much money on an account you can transfer it to my private account

izento wrote:The "Maximum credit" is for the maximum negative balance of an account.
A savings account cannot have negative balance!

How can a CREDIT be a NEGATIVE balance? no I think it does not make sense.
The "maximum negative balance" is set in the account settings limits and is called "Absolute limit".

... Oh and yes a Savings account can have a negative balance (at least according to KMM), just tried in a test account. KMM does not complain!!

The only place this might be useful that I've experienced is regular monthly payments that stop after a set time usually one year. Work round I used was to set last payment date on scheduled monthly savings transaction.

kbob wrote:Oh and yes a Savings account can have a negative balance (at least according to KMM), just tried in a test account. KMM does not complain!!

Correct; what we mean is that your bank won't let you carry a negative balance on your savings account. So, you cannot take a credit against your savings account. That's why this limit is missing.

zebulon wrote:Correct; what we mean is that your bank won't let you carry a negative balance on your savings account.

Ok may be there's some misunderstanding here.
KMM is used worldwide. The discussion here is not what YOUR bank or MY bank let me do with my savings /checking ...or whatever kind of account.

We want KMM to suit our needs and that's why for me, for my area (Europe), it should be suitable to have KMM remind me when I reach some max /min limits on my accounts. That's was all about in regards to the OP and why I asked in the first place.

kbob wrote: ... KMM is used worldwide. ...
We want KMM to suit our needs and that's why for me, for my area (Europe), ....

I can ensure you that my bank in Germany, a subsidiary of a French bank, is not allowing a credit for a saving account. I can not imagine that any bank worldwide will do so.
Credits are handled via chequing or credit accounts.

The KMM team is an international team, also from Europe, that will focus on the worldwide useability of KMM.

I still do not see the need for a "maximum balance" of a savings accont. Please can you give an example.

izento wrote: I can ensure you that my bank in Germany, a subsidiary of a French bank, is not allowing a credit for a saving account.

Glad to know you are from Germany and since I'm based in France, we can talk euros and may understand better

If you need examples of maximum balances for savings accounts, there are endless in France and I guess it should be the same in Germany.
Government sponsored accounts: Livret A: max balance allowed is 22,920 €, for Livret LEP 7,700€.
ING max balances for their Orange savings accounts: 3,000,000 € (Ok if I reach that amount I'll transfer some to you )
SOCIETE GENERALE: max for their BFM Livret is 3,000 € at premium rate
MATMUT: max balance 15,000 € at premium rate
etc. etc. ...

As for a savings account being under zero balance, I agree that no bank worldwide would allow that. But imagine someone who has no checking account for whatever reason, for example someone who's been blacklisted and can't issue any cheque. If that person he's unable to keep up with a loan that he's repaying through his savings account, then his account will go negative.

kbob, FYI: I lived in France for 20 years and have accounts in three countries. Yes, you can open a checking account without having checks. With the rise of internet banking, it is even becoming the norm right now. Millenials just aren't into checking anymore.

Your initial request was for a maximum limit, as there was already a minimum limit. Do not forget that the minimum balance limit right now is not a hard limit. It just triggers a warning. Since your bank enforces any limits that may exist, KMM does not really need this feature. Nevertheless, if you use KMM in anticipation, rather than as a follow-up tool, you can always suggest a feature by email here.