Hypovereinsbank customer from Munich: Suddenly terminated - that's what's behind it

Hypovereinsbank customer from Munich: Suddenly terminated - that's what's behind it

According to a report from www.abendzeitung-muenchen.de, Hypovereinsbank is in the process of converting old free accounts, which will result in account management fees being charged. Customers who do not agree will face termination of their account. This has led to anger and complaints, not only from long-time customers but also from those who have only been with the bank for around ten years. Since November, customers have regularly complained to the Bavarian Consumer Center about the bank's approach. However, the bank claims that these are only “isolated cases”, while the consumer advice center emphasizes that complaints are received every week.

A harsh approach towards long-term customers can affect trust in the bank. However, Hypovereinsbank has admitted that there is no entitlement to a free checking account, but banks should still treat their customers transparently and fairly.

The Münchner Stadtsparkasse also made changes to the account models, but adjustments were made after customer protests. In comparison, Hypovereinsbank simply throws out customers who have not agreed to the new account models.

This approach by banks can have an impact on the banking market and the financial industry in general. In the long term, it could lead to customers switching to other banks that are more accommodating when it comes to changing account models. The possible obligation of banks to pay compensation if the termination is not explicitly terminated before an account is blocked represents an additional financial risk.

Overall, a more accommodating approach to customers and transparent communication on the part of banks is advisable in order to maintain customer trust and remain competitive in the market in the long term.