Financial expert criticizes the planned branch reductions at Postbank as sheer mockery

Financial expert criticizes the planned branch reductions at Postbank as sheer mockery

According to a report by www.fr.de,
The head of the Federal Association of Consumer Advice Centers, Ramona Pop, has sharply criticized the planned large-scale branch reductions at Postbank. The news that almost half of the branches are about to close right now sounds like “sheer mockery” for Postbank’s customers, Pop told the newspapers of the Funke media group.

The planned closure of up to 250 of the current 550 Postbank branches over the next two years will have a major impact on the market and consumers. The affected customers will have to increasingly switch to digital channels, which can be a challenge for many older customers. In addition, the massive increase in complaints regarding IT migration and the ongoing problems with online banking indicate serious weaknesses in customer service.

The critical attitude of consumer advocates and the increasing number of complaints could significantly affect trust in Postbank and Deutsche Bank. This may result in many customers switching to other banks, which could lead to a loss of market share. Deutsche Bank must now act quickly to resolve the problems at Postbank and regain customer trust. Otherwise there is a risk of long-term negative effects on the market.