If Postbank customers do not agree to the bank’s conditions, they now face consequences.
Germany – Postbank has become the first major bank to announce that it will close its customers’ current accounts if they do not agree to the financial institution’s current prices and conditions. According to Deutsche Bank, tens of thousands of people who received a letter to this effect were affected. You know how things will continue in this case and when the current accounts will be closed RUHR24*.
| financial institution | Postbank |
| Headquarters | Bonn |
| foundation | 1990 |
Postbank: Tens of thousands of customers are now threatened with termination of their checking accounts
In April 2021, the Federal Court of Justice declared all changes to the general terms and conditions (GTC) of banks invalid* if customers have not explicitly agreed to this. Since then, financial institutions like Postbank have had to get express approval in order to raise prices, for example.
Postbank, a Deutsche Bank brand, poses massive problems with this new regulation, because the company says it has been waiting for months in vain for the approval of its customers, who have not yet responded to a corresponding information letter about a price increase for their checking accounts.
Postbank had already raised the prices for its “Giro-Plus account” from EUR 4.90 to EUR 5.90 in 2021 and with it that judgment of the Federal Court of Justice* initiated in the first place.
Termination of current accounts as of April 30: Postbank announces drastic steps in letters
According to Deutsche Bank, there is a “mid-five-digit number” of customers who have not yet responded to the letter and are therefore still paying the old, lower price for their checking accounts. In order to persuade them to act anyway, Postbank is now taking radical measures.
In a new letter that dem Handelsblatt is available, the financial institution terminates its customers’ current account contracts as of April 30. “But we would like to keep you as our customer. In the second step, we offer you the conclusion of a new current account contract with our current prices and conditions.
The Post Bank
Postbank is a Deutsche Bank brand that specializes in retail banking. A checking account that you can use to withdraw money and make transfers has cost EUR 5.90 since last year. According to a study by the consumption and media analysis (VuMA), most customers are between 50 and 59 years old.
Postbank customers can still use their current account for two months after termination
Customers have until April 30 to avoid having their current account terminated by agreeing to the new, higher fees either in writing or online. If you don’t do this, the termination will take effect from the specified date – but under special conditions.
Because the termination does not mean an immediate end to the checking account: As the letter goes on to say, the accounts will remain active for another two months beyond April 30th – but for the new ones Postbank prices and conditions*.
At the end of April, the Federal Court of Justice ruled that banks must obtain the consent of their customers when changing general terms and conditions.
© Tobias Kleinschmidt/DPA
Use Postbank checking account after termination? Only possible under new conditions
This means that anyone who wants to access the Postbank account again from May, for example to make a transfer or withdraw money, automatically agrees to the new terms and conditions and pays the higher costs for the remaining time. Access to the current account will not be possible until June 30, 2022. Then customers have to look for a new bank. Tips on how to get extra cheap Checking accounts in Germany is provided by a tool from Stiftung Warentest*.
Loud Handelsblatt Deutsche Bank is planning similar steps for its customers and the subsidiary Norisbank. Exact details about this are not yet known. In view of Postbank’s radical approach, however, it could also soon be the case. *RUHR24 is part of the editorial network of IPPEN.MEDIA.
Rubriklistenbild: © Michael Gstettenbauer via www.imago-images.de