Many Sparkasse customers are in for a big surprise when they go to the ATM. Instead of coming directly to the issue of money, they are asked for their approval beforehand. But that’s not a coincidence. We explain what’s behind it – and what could happen if you refuse.
Anyone who goes to the ATM usually has two things on their mind: getting fresh cash or – if you don’t use online banking – finding out your account balance. The Sparkasse is currently providing a third, previously unknown option.
Savings bank customers should agree to the price increase at the ATM
the uses their ATMs to obtain customer approval for a price increase (Source: Handelsblatt via Techbook). This is usually done via a pop-up in online banking, directly in the branch or by letter. However, not all Sparkasse customers can be reached in this way, which is why the bank is now resorting to this unusual method. Affected Sparkasse customers are now shown a corresponding window when they visit the ATM, in which they can choose from three possible answers: “Agree”, “Already done” or “Skip”.
In theory, Sparkasse customers have the option of bypassing the price increase and simply pressing “Skip”. In practice, however, most of them are likely to be so taken by surprise and just want to withdraw their money quickly that they agree. A clever trick by the Sparkasse to secure approval for the price increase with gentle pressure. After all, the savings bank must inform its customers in advance by post about the changed terms and conditions and price lists, alternatively as a digital notification.
It is currently not known how many savings banks use the ATM trick. According to the Handelsblatt, however, the Sparkasse in Berlin and Sparkasse Mecklenburg-Schwerin will be there.
How to protect yourself with online banking:
Will you be fired if you don’t agree?
And what happens if Sparkasse customers continue to click “Skip” and simply don’t agree? That remains the exciting question. From a purely legal point of view, financial institutions have the right to terminate their customers. However, it remains to be seen whether they really take full action against their customers. However, Postbank does not have these scruples and has already announced that it will terminate its customers if they do not agree to the price increase by May 1st.