Savings Banks: New Round of Fees?

The next institutions will demand more money for the current account in 2022

Created: 01/25/2022, 14:56

By: Lisa Mayerhofer

Not only existing customers of the third largest savings bank in Germany are faced with fee increases.

(Iconic image) © Julian Stratenschulte/dpa

In the fight against low interest rates, the savings banks are also turning the screw on fees.

Other large institutes are now following suit.

And that shouldn't be the end yet.

Cologne/Bonn – Bad news for the customers of the Sparkasse Köln-Bonn: The third largest savings bank in Germany wants to increase the fees* and asks for approval.

According to this, the “Giro Privat Komfort” account should cost nine euros a month from May 1, 2022, and the “Giro Privat” five euros a month.

However, the latter then incur transfer fees of 40 cents.

The names of the giro accounts were also renamed in the new fee model: the “Giro extra” for 7.97 euros became the 1.03 euros more expensive “Giro Privat Komfort” and the “Giro Klassik” for 2.95 euros the 2.05 euros more expensive "Giro Privat".

Sparkasse: Numerous fee adjustments

The Sparkasse Köln-Bonn is by no means the only one to increase the fees - the Sparkasse Krefeld will also be asking for more money as early as April.

The basic account and the "flexible current account" then cost 4.50 euros per month, for posting items (including both credits and debits of the account) there is an additional 45 cents each.

The account management fees for the "flat checking account" amount to 9.50 euros.

The premium version will even cost twelve euros a month in the future.

From July 2022, the Stadtsparkasse Düsseldorf will also increase the account management fees: The “Pure” account will then cost 4.90 euros per month with additional fees for transfers.

The plus accounts cost 9.90 euros a month and those who have a premium account will have to shell out 14.90 euros a month instead of the previous 11.20 euros.

After all: The start account for pupils, students and trainees up to the age of 26 remains free of charge.

Hamburger Sparkasse: Almost 18 euros for the premium account

But the prolonged phase of low interest rates makes it difficult for financial institutions to generate profits. Therefore, many banks feel compelled to increase fees. They were able to do this without the express consent of the customers until a groundbreaking ruling by the Federal Court of Justice last April. This is different with the corresponding BGH judgment. The chief justices concluded that mere silence was not consent. Now the increase of fees is only allowed if the customers have given their express consent.

This poses new problems for the banks: Hamburger Sparkasse (Haspa), which increased its fees on November 1, 2021, had to find out.

The largest savings bank in Germany is now charging new customers 9.95 euros for the "Haspa Joker" account type and even 17.95 euros for "Haspa Joker premium".

According to Haspa, existing customers do not have to switch to the new models - for the time being.

But existing customers who want to switch their accounts with Haspa also slip into the more expensive models.

Haspa itself admits that the increase in fees doesn't really suit customers.

Only half of the customers would have agreed to the new contract terms, explained Haspa to the daily news.

The Tagesschau concludes that several hundred thousand customers have not yet agreed.

So it remains to be seen how successful the planned fee increases will be for the other savings banks.

Legally, they are not allowed to take more money from customers who do not agree to the increases.

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