Postbank IT problems: customer complaints are increasing - financial expert warns of lawsuits

Postbank IT problems: customer complaints are increasing - financial expert warns of lawsuits

According to a report by www.finanzen.net, more and more Postbank customers are having IT problems with the bank and are submitting complaints to consumer advice centers. The Federal Association of Consumer Organizations (VZBV) received around 2,200 complaints about Postbank from January to the end of November 2023. Previously, 1,700 complaints were registered from January to September. In addition, more and more customers are becoming frustrated and filing lawsuits. The Bonn Regional Court has recorded 250 lawsuits by September 2023 and a further 241 lawsuits against Postbank and 33 against Deutsche Bank by December 2023. Since the beginning of 2024, a further 19 lawsuits have been filed against Postbank and one lawsuit against Deutsche Bank.

Despite these problems, the value of Deutsche Bank shares rose by 1.08 percent to 11.94 euros via XETRA.

Based on current developments, it is possible that customers' trust in Postbank and Deutsche Bank will be severely affected. This can have a long-term impact on the bank's market value. In addition, the flood of complaints and lawsuits can put a strain on the bank's resources and reputation. There is also the possibility that a class action lawsuit could be initiated against Postbank, which could affect the bank's financial situation and market value.

It remains to be seen how Postbank and Deutsche Bank will react to these developments and what measures will be taken to restore customer trust and resolve the IT problems.