BGH ruling: Customers receive millions back

BGH ruling: Customers receive millions back

In recent years, banks and savings banks have regularly increased their fees, often without adequately informing customers. The Federal Court of Justice has now determined that this approach is unlawful and has confirmed this, which could lead to possible repayments for millions of those affected. Sparkasse customers usually have to pay a monthly account management fee as well as fees for transfers or account statements. The savings banks have increased these fees in the past without sufficient information or consent from customers, which the court found to be unlawful.

The Federal Association of Consumer Organizations had filed a lawsuit against Sparkasse Berlin because it had introduced or increased certain fees without obtaining customer consent. The Berlin Court of Appeal has ruled that the Sparkasse's refusal to reimburse these additional costs is unlawful. This means that affected customers are entitled to a refund as the price increases are ineffective. The ruling could have far-reaching consequences for all savings banks and their customers.

In addition to regional savings banks, major banks such as Postbank, Deutsche Bank, ING Diba and Commerzbank are also affected by this ruling. These banks increased their fees by up to 65 percent between January 2018 and December 2022. This not only applies to account management fees, but also other costs such as transfers or account statements. Customers can claim their bank fees back using a sample letter from the consumer advice center. It is recommended to review previous years' bank statements to determine which price schedule was in effect when the account was opened.