Judgment against Sparkasse Berlin: refund for bank customers?

Judgment against Sparkasse Berlin: refund for bank customers?

Once again, a decision is imminent against a financial institution that could result in a significant refund for thousands of savings bank customers. In this case it is Sparkasse Berlin, which increased fees without the express consent of its customers. This illegal practice was reprimanded by the Berlin Court of Appeal on April 9, 2024. The court ruling could now trigger a chain reaction that not only affects customers of Sparkasse Berlin, but possibly also customers of other banks.

Experts from the Federal Association of Consumer Organizations (vzbv) are optimistic that the ruling will mean that customers who have had to pay additional fees to their bank since 2018 will have these amounts refunded. The vzbv is also active in similar proceedings against other banking institutions such as Sparkasse KölnBonn and is closely monitoring developments in order to benefit from relevant court decisions.

In addition to Sparkasse Berlin, other banks could also be affected by the ruling. According to a report by focus.de, financial institutions such as Deutsche Bank, ING Diba and Commerzbank have significantly increased their fees in recent years. This not only applies to account management fees, but also costs for transfers, SMS TANs and account statements. Verivox found that half of current accounts have become more expensive in the last two years.

It is important to note that the judgment is not yet final and an appeal is underway. The consumer advice center recommends that customers who would like to claim a refund should use the consumer advice center’s sample form. As soon as the judgment is final, customers can claim back the amounts they are entitled to. This ruling could set a precedent that goes far beyond Sparkasse Berlin and potentially affects the banking landscape as a whole.