Postbank customers must either agree to the new terms and conditions or say goodbye to their account by the end of April. What exactly do users need to be prepared for?
The Postbank is serious. Anyone who has not yet agreed to the company’s new terms and conditions should have received a letter of cancellation for their Postbank account. This is specifically about Giro Plus accounts that could be closed on May 1st. If you keep your account, you also have to expect higher costs.
Postbank reacts to BGH ruling
This is based on a judgment by the Federal Court of Justice from April 2021. At the time, the court decided that it was not legal to enforce changes to the terms and conditions, such as increased account management fees, without the explicit consent of the account holder.
This means that the sometimes followed practice no longer applies that silence on the part of the customer is to be regarded as consent. What strengthens the position of consumers overall, however, means that many financial institutions have changed their general terms and conditions and are waiting in vain for feedback from their customers.
What will change for Postbank customers?
As early as February, Postbank reminded its customers to agree to the changes. This includes, among other things, an increase in the account management fee for the institute’s Giro Plus account. The price was already raised in 2021 from EUR 4.90 to EUR 5.90 per month. This change was the impetus for the BGH judgment in the first place. The reason is the current negative interest rates.
If you haven’t responded yet, you’ll still pay the lower fees. That should change on May 1st: either the customers agree to the changes by the deadline of April 30th or their account will be deactivated. According to the Handelsblatt, corresponding cancellations went to a mid-five-digit number of customers in February.
Beware of hidden consent
Customers who want to stay with Postbank should therefore agree to the new conditions as soon as possible. The company continues to offer this option, both in writing and online – despite the termination that has already been announced. “But we would like to keep you as our customer. In the second step, we offer you the conclusion of a new current account contract with our current prices and conditions.
But beware: If you still do not want to agree to the changed terms and conditions, you should not use your Postbank account after April 30th. This is considered approval for another two months and the 5.90 euro fee is calculated accordingly. The account will not be finally closed until June 30th.
Postbank is not alone in its approach
Postbank, which belongs to Deutsche Bank, is not the only financial institution that is now approaching its own customers in this or a similar way. TECHBOOK has already reported on a similar practice by the savings bank, which explicitly asked customers to give their consent when withdrawing from an ATM. There, too, the deadline is April 30th. Deutsche Bank also reserves the right to do the same with its giro accounts in the near future.