FRANKFURT (Reuters) – The financial regulator BaFin is taking a closer look at Postbank, which belongs to Deutsche Bank, after consumer complaints about problems with the processing of transactions.
The authority is observing significant impairments in the processing of customer business at Postbank and is checking whether there are any deficiencies in the institute that are relevant for supervision, the supervisory authority announced on Monday. “There are numerous complaints from customers.” BaFin would investigate these as part of its mandate to protect collective consumer interests and will impose measures if indicated.
Since the turn of the year, the authority has reportedly seen “significant impairments in the processing of customer business at Postbank”. “In addition to various disruptions in online and mobile banking and the lack of availability of telephone customer service, these include long processing times for seizure and estate matters as well as for the closure/processing of accounts and repayment of savings deposits.” In the statement, the supervisory authority speaks of an “extraordinarily large number of customer complaints”, which it takes very seriously.
Deutsche Bank announced that Postbank was still seeing a significantly higher volume of inquiries and orders from customers, which meant that some service processes had significantly longer processing times. We regret the inconvenience to customers. “We are working with various measures to reduce the processing time in the affected areas again in order to meet the justified expectations of our customers. Among other things, we have significantly increased the number of service employees. We are in regular dialogue with the BaFin.”
(Report by Myria Mildenberger, edited by Birgit Mittwollen. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets).)
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