Off for EC cards: what is changing for Sparkasse customers now
Created: 10/25/2022, 1:30 p.m
By: Kilian Bäuml
The savings bank says goodbye to EC cards.
Now she is introducing the successor to the popular money card.
All changes at a glance.
Kassel – Only recently did the Sparkasse make its plans public to take EC cards out of circulation.
So far, this is still used by many Germans - in 2021, according to
Forbes
, it was used 5.9 billion times as a means of payment.
In some shops, the EC card is the only accepted cashless payment method.
Sparkasse is now revealing what the successor to the popular card looks like.
hna.de summarizes.
The EC card will be replaced by the new Sparkasse card.
This should be more modern and have many functions that its predecessor did not have.
Above all, this should simplify cashless payments and online shopping.
The EC card is on the verge of extinction.
(Iconic image) © Michael Gstettenbauer/imago
After debit cards: Sparkasse presents Sparkassen-Card
The Sparkasse writes about its new product on its website that it is a debit card.
That's why you can pay with it worldwide.
In addition, online payments should become safer and there is an expenditure control.
In order to improve customer service, their phone number is located directly on the money card.
In addition, there are some new functions that should also simplify cashless payment.
The card can, for example, be connected to a smartphone so that you can also pay via the app.
Withdrawing cash should also become more convenient for customers in the future, since the new debit card can be used to withdraw money from all ATMs that accept Visa.
Giro card (formerly EC card) | debit card |
|---|---|
Linked to a German checking account | Bank card from US group |
Use outside of Germany only with Maestro or V-Pay | worldwide use possible |
Source: Consumer Center |
The main reason for the changes is above all international payment transactions.
So far, customers have been able to use their EC card abroad because there was cooperation between German direct banks and the American provider Mastercard.
However, this cooperation was terminated by Mastercard in 2021, leading to drastic changes in card usage.
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The Sparkasse is planning this after EC cards are out
In Germany, more and more people are paying by card.
The
Deutsche Bundesbank
writes that the use of card payments increased by almost 25 percent in 2020 and attributes this to the effects of the pandemic.
The time before the euro: Who still knows these currencies?
View photo gallery
The savings bank is not alone with the plan to expand cashless payments.
In the meantime, the first banks such as Deutsche Bank are planning to no longer issue cash over the counter, even in some branches.
In a survey by the
Handelsblatt
, however, most branches state that they will continue to accept payments and withdrawals at the counter.
The Kreissparkasse from Cologne says, for example: “In all 116 branches, customers have the option of withdrawing money from the till”.
(Kilian Baeuml)