Without warning: Bank terminates numerous customers – and now admits “possible errors”.


In the past few days and weeks, a German bank has suddenly closed the accounts of many customers without warning – with a reason that seems flimsy at first glance. Now N26 comments on the incidents – and admits “possible errors”.

Since last week, the online bank N26 has been informing numerous customers that their account has been terminated. As the “Handelsblatt” reports, this step is justified with a violation of the General Terms and Conditions (GTCs). In addition to German customers, people from Italy and France are apparently also affected.

It was not initially known what the specific reason for the layoffs was. “In the event of a breach of contract, the bank must give its customers a period of time to remedy the situation in accordance with their own terms and conditions,” said Niels Nauhauser from the consumer advice center in Baden-Württemberg. Termination without notice is only possible in three special cases: incorrect information provided by the customer about his assets, significant deterioration in the financial situation and the provision or increase of collateral that did not take place within the specified period.

Many affected customers are now threatened with additional fees because they cannot pay their outstanding bills.

N26 Closes Accounts: Is Fighting Crime the Reason?

The online bank N26 is currently closing numerous accounts.
The online bank N26 is currently closing numerous accounts.

CHIP

In the meantime, N26 has commented on the terminations in a blog post. In it, the company confirms what was previously suspected. The account closures are linked to the fight against financial crime.

Suspicious accounts will be blocked accordingly. It can also happen in exceptional cases that the accounts of reputable customers are blocked. Unfortunately, it is not possible to solve this correctly 100 percent of the time. This information matches a letter received by affected customers. It says about the payment of the remaining amounts: “Please send us proof of the origin of the funds by means of appropriate receipts.”

In recent years, the bank has repeatedly had problems in this area. The regulators of various countries even imposed sanctions. In any case, those affected should request information about the specific reason for the termination. In the event of an erroneous termination, they could even have claims for damages against N26.

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