Banks are raising fees – those who don’t agree should expect termination

Banks are raising fees – those who don't agree should expect termination
Commerzbank branch

Commerzbank has written to customers several times since April 2021.

(Photo: Imago Images / Arnulf Hetrich)

frankfurt If banks and savings banks want to increase charges for current accounts, they now need the explicit consent of their customers. If consent is not given even after months, the customers concerned should expect the account to be terminated. 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 termination of the business relationship in the further course, as we require a valid legal basis”. Commerzbank has written to customers several times since April 2021, reminding them both by post and digitally. A very high approval rate was achieved.

As it has now become known, Sparkasse Nuremberg wants to eliminate 10,000 customers who do not agree with the current conditions, despite repeated requests. Other financial institutions are likely to follow this example soon – and in some cases use a trick that eventually allows most customers to have accounts.

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