Savings bank customers can hope for repayments

Savings bank customers can hope for repayments

The Berliner Sparkasse suffered a defeat in court because consumer advocates sued against unannounced cost increases. The court ruled in the customers' favor and now allows them to demand money back. Savings bank customers usually have to pay monthly account management fees, although additional costs may arise for transfers or account statements. Due to unknown fee increases, consumer advocates intervened against Berliner Sparkasse.

The Chamber Court confirmed the view of the Federal Association of Consumer Organizations (vzbv) and allows customers to receive potential refunds as soon as the judgment is final. The Berliner Sparkasse had increased the costs several times without the consent of the customers, which is now leading to claims for reimbursement. Customers had joined a class action lawsuit because the savings bank refused to repay the excess amounts, although the court assumes that the claims are time-barred, which is why consumer advocates are examining an appeal.

The current ruling could also affect customers of other banks that have made similar unlawful cost increases. Bank customers should check their bank statements from January 2018 to determine whether they are entitled to a refund. Niels Nauhauser from the Baden-Württemberg Consumer Center in Stuttgart emphasizes that customers can demand this money back from their banks, as the fee increases of recent years are ineffective. It is recommended that you send an appropriate sample letter to the bank to request a refund of overpaid money.