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).
According to the plans, Deutsche Bank wants 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.
Is only cash true? Bitcoin can also be worth a look:
Consumer advocates criticize Deutsche Bank
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.