Quickly to the branch and quickly pick up some cash: what used to be possible without any problems is now associated with more and more stumbling blocks. The latest comes from Deutsche Bank: In the future, the financial institution would like to severely limit the issuing of cash in its branches. The move has already attracted consumer advocates.

Penalty interest, branch closures and additional fees for previously free services: times for bank customers in Germany have been better. If Deutsche Bank manager Lars Stoy’s idea catches on, it could become even more uncomfortable in the future.

Deutsche Bank wants to restrict cash issuance at the counter

The head of retail banking wants them Strictly restrict cash withdrawals in branches. In the future, it should only be processed via ATMs, no longer at the switch. “In the future, I no longer want to offer cash in the branches because holding cash causes costs,” said Stoy at a non-public investor conference (source: Spiegel).

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According to the plans, Deutsche Bank would like cash to be dispensed over the counter will only be offered in large centers in the future. It is not known what these are and when the changeover will start. Stoy’s statements were made at the end of May, but have only now become known. A spokeswoman for Deutsche Bank confirmed it.

This is part of the strategic transformation of the money house and will be done “taking into account the respective customer demand and the range of self-service services on site”, the spokeswoman continued.

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Consumer advocates criticize Deutsche Bank

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Consumer advocates criticize Deutsche Bank’s announcement. Dorothea Mohn from the Federal Association of Consumer Organizations speaks of a “clear step backwards for consumers” and called on Deutsche Bank to continue offering the service. Mohn also calls on politicians to take countermeasures against such developments. One Restricting cash is not in the interest of consumers.