Postbank IT move causes hundreds of complaints – financial experts alerted

Postbank IT move causes hundreds of complaints – financial experts alerted

According to a report by www.hasepost.de, Postbank's IT move led to hundreds of complaints to consumer advice centers. Customers complained about inadequate accessibility and a lack of help from customer service.

Problems with payment transactions and customer service could violate applicable law

In the worst case scenario, the technical change meant that customers were unable to access their credit or receive Schufa entries due to returned direct debits for weeks. The Federal Association of Consumer Organizations expressed the suspicion that the problems could potentially violate applicable law, as banks are obliged to unblock a blocked account immediately as soon as the reason for the blocking no longer applies.

Consumer advice centers are calling for the problems to be addressed

The consumer advice centers are calling for a comprehensive investigation into the problems to ensure that consumers are not left with the damage. The financial regulator Bafin also followed the move and received many complaints.

Deutsche Bank responds to complaints

Deutsche Bank announced that it had significantly increased customer service capacity before the measure and informed customers about the plans before the move. According to a spokesman, customer complaints to the bank were in the low single-digit per thousand range.

The above events are likely to have an impact on customers' trust in Postbank and Deutsche Bank. There is a risk that customers will withdraw their money from the bank and choose other providers. In addition, there could be legal consequences if it turns out that applicable law has actually been violated.

It is important that banks fully address the issues and take action to restore consumer confidence. Otherwise, there could be long-term impacts on the market and customer satisfaction.