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Sparkasse is putting an end to two long-standing functions of the EC card

2022-01-19T14:30:59.412Z


Sparkasse is putting an end to two long-standing functions of the EC card Created: 01/19/2022 15:26 By: Anika Hinz Attention Savings Bank customers: The bank is currently abolishing one of its long-standing services. There is no alternative. Germany - With around 50 million customers, Sparkasse Germany is the undisputed number one among financial service providers. The majority of these custom


Sparkasse is putting an end to two long-standing functions of the EC card

Created: 01/19/2022 15:26

By: Anika Hinz

Attention Savings Bank customers: The bank is currently abolishing one of its long-standing services.

There is no alternative.

Germany - With around 50 million customers, Sparkasse Germany is the undisputed number one among financial service providers.

The majority of these customers now have to prepare for a major change, because the savings bank is permanently eliminating two services, reports RUHR24*.

financial group

savings bank

customers

around 50 million

Number of credit institutions

376

Sparkasse eliminates payment functions - millions of customers are affected by the changeover

Specifically, the abolition is about the two payment functions “GeldKarte” and “girogo”, which the savings bank had been offering for years.

Both functions were part of the normal features of the red Sparkasse card.

As of July 1, 2020, no new maps with these features will be released.

The savings bank itself announces on its website that existing savings bank cards with the functions mentioned are to be gradually replaced by new cards in the coming years.

By the end of 2024, cards with GeldKarte and girogo functions should have completely disappeared from the market.

Another innovation in giro cards was only announced at the end of last year.

"GeldKarte" and "girogo": Simple prepaid payment functions at Sparkasse

The Sparkasse cites "changed market conditions" as the reason for the abolition of the long-standing services.

Both the payment function with the GeldKarte and girogo have been used less and less by customers in recent years.

“Contactless payment” with the Sparkasse card, payment by credit card or smartphone are now much more popular.

Payment with the GeldKarte/girogo is only possible if you have previously loaded it with credit (prepaid).

This function turns the Girocard into an electronic wallet with which smaller purchases of up to 25 euros can be paid for quickly and without entering a PIN or signing the receipt (more news about digital at RUHR24).

The "girogo" payment function was introduced in 2012, but is now being abolished again.

© Savings Banks Association

What happens to existing credit on the prepaid cards?

This function will no longer be possible with future Sparkasse cards.

What specifically means that no more credit can be booked on the card.

The prepaid option is therefore completely eliminated.

Customers who currently still have Sparkasse cards with a GeldKarte or girogo function can still use them to make payments until their cards expire.

Maximum, however, only until December 31, 2024. Existing credit will be retained until then.

In addition, however, the Sparkassen-Card must be unloaded by March 31, 2025 at the latest.

No more prepaid function at Sparkasse: What alternatives do customers have?

The savings bank no longer offers a new prepaid payment function after the abolition of both services.

However, the company points out that normal payment with the Sparkasse card (debiting from the account) is a fast and secure alternative to the GeldKarte and girogo.

In addition, paying with a smartphone is another and, above all, hygienic method of paying for purchases quickly and contactlessly, especially in times of Corona.

Up to a purchase value of 50 euros, according to the Sparkasse, no PIN entry is necessary.

By the way: If you prefer to pay with cash instead of a card, you will increasingly have problems with it.

Because in Germany there are fewer and fewer ATMs.

The reason for this is digitization.

*

RUHR24

is part of the editorial network of IPPEN.MEDIA

Source: merkur

All news articles on 2022-01-19

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