High number of complaints: Postbank and DSL bank with IT problems - financial expert warns customers

High number of complaints: Postbank and DSL bank with IT problems - financial expert warns customers

According to a report by Merkur.de, more and more Postbank and DSL Bank customers are having problems with their accounts and customer service. Deutsche Bank, to which the two banks belong, carried out an IT conversion in the first half of 2023 to standardize processes. However, since then, many complaints have been received from customers. According to the Federal Association of Consumer Organizations (VZBV), around 1,700 customers have complained since the beginning of the year, almost three times as many as in the previous year.

The problems affect various areas, including current accounts, estate settlements, real estate financing and seizure protection accounts. Around 12 million Postbank customers were gradually brought together with 7 million Deutsche Bank customers on a common platform.

According to a report from the German Press Agency (dpa), the group has recently reported progress in resolving the problems, particularly with seizure protection accounts and building financing at DSL Bank. Nevertheless, the consumer advice center recorded more than 1,100 complaints about Postbank and DSL Bank in the third quarter alone.

The blocked accounts and the lack of availability of customer service can have serious consequences, as VZBV boss Ramona Pop emphasizes. Customers also report contradictory statements from service employees.

Due to the problems with the IT conversion, the financial regulator Bafin has appointed a special representative for Deutsche Bank to monitor the rapid resolution of the restrictions. Deutsche Bank's CEO, Christian Sewing, apologized for the problems at the end of September and announced normal operations until the end of October.

The consumer advice center advises affected customers to remain persistent and to thoroughly document all additional costs incurred. They may be entitled to compensation. It is also recommended to maintain close contact with the contractual partners and to inform the Bafin supervisory authority about the problems.

Bafin had already reprimanded Deutsche Bank at the beginning of September about the events at Postbank. While many banks are increasingly relying on online banking and digital structures, the branch network in Germany is becoming increasingly thin.

The ongoing IT problems at Postbank and DSL-Bank may have a negative impact on the market and consumers. Customer trust could suffer because they cannot conduct their banking transactions properly and customer service is difficult to reach. This may result in customers switching to other banks. In addition, Deutsche Bank's reputation as a parent company could be damaged.

Source: According to a report from www.merkur.de