Frankfurt If banks and savings banks want to raise the fees for current accounts, they now need the explicit consent of their customers. If the consent is not given even after months, the customers concerned must increasingly expect account terminations. The first cases are already there. Usually, a maximum of five percent of customers are affected.
Commerzbank said that if customers still do not respond to inquiries, “we cannot rule out the possibility of terminating the business relationship in the further course, as we need a valid legal basis”. Commerzbank has written to customers several times since April 2021 and reminded them, both by post and digitally. A very high approval rate was achieved.
As has now become known, the Sparkasse Nürnberg wants to terminate 10,000 customers who have not agreed to the current conditions despite repeated requests. Other financial institutions are likely to follow this example soon – and in some cases use a trick that ultimately allows most customers to keep the account.
The Kreissparkasse Köln, which is one of the ten largest savings banks in Germany, explained that almost all customers had given their consent. “We will inform those customers who have not yet responded to the various addresses that we cannot continue the current account connection without their consent.”
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However, a termination becomes invalid if customers still agree or the checking account “continues to be actively used by the customer even after the time of termination”. Customers therefore automatically accept the conditions and prices if they continue to use the service.
>> Read also: Conditions not approved – Sparkasse Nuremberg threatens 10,000 customers with termination
The background to the action taken by the financial institutions is a judgment by the Federal Court of Justice (BGH) in April 2021. According to this, financial institutions must obtain the express consent of their customers if there are changes to the general terms and conditions, for example price increases (Az. XI ZR 26/20). The Federal Association of Consumers had sued the Postbank, which had raised prices several times in recent years.
Postbank also relies on consent through continued use
Up until the verdict, banks and savings banks had usually increased the fees via the existing terms and conditions clauses. They assumed that customers would tacitly consent if they did not object to a change within two months. Since very similar general terms and conditions are used in the German banking industry, the BGH decision is considered to be decisive for the entire industry.
The financial institutions are now getting approval for fee increases that have just been announced. On the other hand, they need the customer’s consent to price increases in the past three years and are also adapting their general terms and conditions here.
Postbank, which belongs to Deutsche Bank, also relies on consent through continued use. She had terminated the relevant accounts in the spring. If customers continue to use the account details, the bank considers this to be acceptance of the terms and conditions, as formulated in a letter to the customer. That happened with a single transfer, a card payment or withdrawing money from an ATM.
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It is obvious that other banks will also choose this path. If you continue to use the account, you assume that so-called implied action has taken place, i.e. that an action implies a declaration of intent. Consumer advocates have already signaled that they will not take action.
Other financial institutions continue to avoid layoffs. “A very large proportion of our customers have already agreed to the new terms and conditions. We are still trying to get the few outstanding answers in order to be able to continue all business relationships. There have not been any layoffs so far,” said the Hamburger Sparkasse, the largest savings bank in Germany.
The Berliner Sparkasse emphasizes that their goal is the consent of the customers. “We therefore keep contacting everyone whose consent is still pending on various channels.” The Sparkasse Köln-Bonn and the Stadtsparkasse München made similar statements.
More: How to close your account at your bank