Without cash?
This is how the savings banks should continue
Created: 07/07/2022 04:49
By: Stefan Ruhl
The Sparkasse announces its decision to withdraw cash.
© K. Schmitt/IMAGO
Cash is still the most popular means of payment in Germany.
But Corona has strengthened the trend towards card payments.
This is how the Sparkasse decides.
Frankfurt – “You can control what you have in your hand.” Many Germans think something like this when it comes to cash.
Paying with bills and coins is still very popular in Germany.
But Corona has strengthened the trend towards electronic means of payment.
The first banks from Frankfurt, including Deutsche Bank, are even planning to no longer issue cash at some branches over the counter in the medium term.
But how does the Sparkasse want to deal with the situation?
Is the end of cash imminent here too?
A statement by the savings banks in a
Handelsblatt
survey now provides information about future plans.
Savings banks and cash: This is what the future looks like
Some savings banks want to continue to allow cash deposits and withdrawals at their counters.
This is the result of a
Handelsblatt
survey.
These include the Sparkasse Köln.
"In all 116 branches, customers have the option of withdrawing money from the cash register," according to the Cologne district savings bank in the survey.
Everything at the Hamburger Sparkasse should remain the same.
Deposits and withdrawals of cash should remain a branch service.
"In all 116 branches, customers have the option of withdrawing money via the cash register."
Kreissparkasse Köln in a Handelsblatt survey.
There are also exceptions here: The situation is different at the Sparkasse in Bad Tölz-Wolfratshausen, where cash payments were stopped at the end of May 2022 - much to the annoyance of many pensioners.
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Savings banks and cash: Observations when withdrawing money
The Sparkasse Finanzgruppe operates a total of 23,000 ATMs and regularly analyzes usage behavior in order to be able to adapt its own services.
Similar to other banks, it makes an interesting observation: the typical counter continues to play a subordinate role in the supply of cash.
"It is used in particular when varieties or larger amounts of money are required," the German Savings Banks and Giro Association (DSGV) is quoted as saying by the "Handelsblatt".
Among them, customers mainly use ATMs.
Savings banks and cash: Corporate customers tend to go to the counter more often
Another observation made by the savings banks is that corporate customers use the counter to withdraw money more often than private customers.
According to the association, one reason for this is that corporate customers often handle large sums and these can be withdrawn at the counter.
In general, however, it was found that contactless and electronic payment has gained in importance for both corporate and private customers.
However, electronic payment is also sensitive and vulnerable.
It was not until May 2022 that the payment system in many supermarkets and discounters failed, which meant that some branches of Aldi, Edeka and Co. could only be paid for in cash.
(stru)
