Germany's huge network of public sector Sparkassen savings banks will on Monday launch its own mobile payment app, taking on Google Pay in a country where cash is still king.
For many foreigners new to Germany, it’s annoying enough to be charged for withdrawing cash at any ATM. But paying to take money out at your own bank seems a step too far.
ATMs at Germany's publicly-owned Sparkasse banks in south and west Germany are refusing to provide customers with cash and bank statements on Friday due to a problem at one of the group's computer centres.
Germany's big private banks are increasing fees for customers at other financial institutions to withdraw cash from their ATMs, making ordinary people pay the price for a bankers' spat.
Germany’s Sparkasse group of banks is testing a new touch-free payment system that promises to revolutionise the way regular people do their everyday shopping.
Consumer groups insist ATM fees have not fallen far enough despite regulations brought in two weeks ago to combat fees that had soared as high as €10 per withdrawal.
A Hamburg savings bank came under fire Thursday for creating psychological profiles of its customers labelling them as financial "hedonists" or "disciplinarians," according to a media report.
Shoppers hit by a "Year 2010" computer bug that has rendered their bank cards useless will be compensated for any fees accrued through alternative payment, the German Savings Bank Association (DSGV) told daily <i>Bild</i> on Friday.
Germans are moving their nest eggs to the safety of state-owned banks, despite Chancellor Angela Merkel's pledge this week to guarantee all savings and current accounts.