The fees for current accounts in Germany are expected to increase in the near future at numerous banks. As the “Handelsblatt” reports with reference to a survey by the consulting company EY, around 34 percent of the financial institutions are planning increases – around 15 percent have already turned the price screw this year. The reason for this is likely to be the currently very low interest income.
Recently, many banks had stopped their price increases for the time being. This was triggered by a judgment by the Federal Court of Justice (BGH) in April 2021 against Postbank. It was made clear that the express consent of the customer is always required for price adjustments. The customary practice up to then of regulating this by changing the general terms and conditions is inadmissible.
More expensive checking accounts: Customers face termination if they refuse to give their consent
Many banks now want to make up for the increases. In many cases, however, it is still unclear what will happen to customers who do not agree to the increases. One possibility would be to accept that some customers pay less. Alternatively, the termination of the account could also be threatened. Customers of Postbank, Deutsche Bank and Norisbank must be prepared for this step if they refuse to give their consent.
It is only partially known how high the adjustments will be. At the Berliner Sparkasse, for example, the monthly fees increase by EUR 1.95 to EUR 8.95 for the “Giro Flat Rate” model. Basically, however, German consumers continue to pay comparatively little for everyday banking transactions. In Germany, the average is 135 euros. In the rest of Europe, on the other hand, it is 256 euros.
In order to save further costs, numerous branches will probably be closed in the future. According to the EY survey, 60 percent of the managers surveyed assume that 20 percent of the current branches will disappear by 2025.