Deutsche Bank no longer wants to offer cash at branches in the future

Neue Wege: Die Deutsche Bank ist seit Jahren in einem Umbau-Prozess.

New avenues: Deutsche Bank has been in the process of restructuring for years.
Photo Alliance / Daniel Kubirsky | Daniel Kubirsky

Deutsche Bank no longer wants to keep cash in its branches in the future. That’s what Lars Stoy, the manager responsible for the private client business, said, as reported by “FAZ”.

Only a few large centers should continue to offer cash. Stoy said it was a response to the trend of more cashless payments. Instead, they want to focus more on mentoring and sales at branches.

Cash should be available in ATMs also.

Deutsche Bank no longer wants to offer cash at its branches in the future. That’s what private client boss Lars Stoy said at an investor conference about “Faizinformed of. “In the future, I no longer want to offer cash at branches because having cash comes at a cost,” Stoy said of the decision. Cash will continue to be offered only in certain major centers and customers will be able to collect banknotes from ATMs.

Stoy further explained that the bank is responding to two trends with this move: more and more cashless payments are being made, while at the same time increasing demand for consulting services. In this way the supply of cash is also ensured, after all, in addition to ATMs, money can also be withdrawn at supermarkets or gas stations.

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Stoy did not specify when the measure should be implemented. He presented the decision as part of Deutsche Bank’s restructuring strategy. According to it, the “main function” of branches is to sell and advise customers on things like investments, mortgages, insurance and loans. If this route is taken, they expect the branch to become profitable again, Stoy said. The strategy also includes closing down other locations.

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