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According to a media report, consumer advocates have achieved legal success in the dispute over negative interest rates on current and overnight accounts.
As the "Handelsblatt" reported, the Berlin district court ruled that Sparda-Bank Berlin is no longer allowed to charge negative interest on current and overnight accounts.
In the opinion of the court, the custody fee for current accounts is "not compatible with the fundamental principles of the legal regulation".
The court argued that negative interest rates on overnight money accounts also contradict the legal guidelines.
The bank should repay the custody fee, reported the "Handelsblatt" on.
Like Sparda-Bank Berlin, according to the comparison portal Verivox, a total of more than 400 financial institutions calculate negative interest on current and overnight money accounts - more than a third of the banks examined.
The Federation of German Consumer Organizations (vzbv) took legal action, considering the banks' practice to be inadmissible.
vzbv board member Klaus Müller welcomed the decision: "The verdict is the most far-reaching judgment so far on the subject of custody fees," he told the "Handelsblatt".
If necessary, the vzbv will go to the Federal Court of Justice.
Wave of lawsuits against banks
According to the "Handelsblatt" newspaper, Sparda-Bank Berlin announced an appeal against the decision.
"The ruling of the Berlin Regional Court differs from previous rulings, which basically allow custody fees," was the reason given.
Consumer advocates have launched a whole wave of lawsuits against negative interest rates.
The Hamburg consumer center is suing Commerzbank, for example.
The consumer advocates filed a lawsuit with the Frankfurt Regional Court.
In another case, the Leipzig Regional Court ruled the Sparkasse Vogtland right in July.
Accordingly, the Sparkasse may charge a custody fee for new checking accounts.
The consumer association Saxony had sued.
She has since appealed to the Dresden Higher Regional Court.
beb / afp