• Germany's news in English
 

Banks signal readiness to reduce ATM fees

Published: 26 Mar 2010 08:34 GMT+01:00

Bank customers tired of fees that reach as high as €10 may find relief in the coming weeks, Aigner told broadcaster Deutschlandfunk.

Germany’s banks charge unusually high fees by international standards, particularly for unaffiliated customers.

But the banks have shown a readiness to adhere to an obligatory limit and inform customers of the fee at the beginning of their cash machine transaction, Aigner said.

"I am expecting it," she said.

While she could not yet name what the limit would be, Aigner ensured it would definitely be “below the current level,” making a sum of €5 “the high limit and not the average price,” even for unaffiliated customers.

The minister also told Deutschlandfunk that polls showing a serious loss of trust in banks due to pressure on employees to push financial products should be a “major warning signal.”

Aigner planned to discuss reforms with the country’s banking association on Friday, she said.

DDP/The Local (news@thelocal.de)

Your comments about this article

11:18 March 26, 2010 by dcgi
And what to mandatory warning screens on the ATM confirming the amount you will be charged before withdraw your money??
11:22 March 26, 2010 by wwessing
how much is $10.00 dollar in euro money,and do yall have a wachovia bank over there?

over here in the united states the bank were we bank at do not charge a fee for use thier atm,but if you another bank amt they will charge you for it and the other bank will charge you too.

thank you william fred wessinger
11:32 March 26, 2010 by freechoice
they should compulsory flash the fees before asking the user if they want to withdraw money...

i can't find this information anywhere on the ATM machines...until I received the statement of transactions...
12:04 March 26, 2010 by Clapoti
They should definitely show how much it will be... that's what they do in Canada. "You will be charged 3.00$, do you want to continue ?"
12:54 March 26, 2010 by twisted
No fee should exceed € 2.00, regardless of the amount withdrawn or the card used. Bankers make enough money now. The word SERVICE seems to be lost forever when it comes to banks.
15:04 March 26, 2010 by ttnp3
If someone takes money from my account without telling me, I call it stealing!
05:13 March 29, 2010 by peschvogel
Maybe this has something to do with it:

Germany¦#39;s central bank ­ the Deutsche Bundesbank (German for German Federal Bank) ­ has admitted in writing that banks create credit out of thin air.

As the Bundesbank states in a publication entitled ¦quot;Money and Monetary Policy¦quot; (pages 88-93; translation provided by Google translate, but German speaker and economic writer Festan von Geldern confirmed the basic translation.'
Today's headlines
German ranchers murdered in Paraguay
Paraguayan police on patrol in an area known to contain EPP rebels. File photo: DPA

German ranchers murdered in Paraguay

The Foreign Ministry in Berlin confirmed that two Germans living in Paraguay were kidnapped and killed earlier this week. READ  

AfD braces for busy conference weekend
"Vote AfD!" reads the flyover message. Photo: DPA

AfD braces for busy conference weekend

As leaders of the Germany's anti-Euro upstart party Alternative for Germany (AfD) prepare for its party conference this weekend, the potential for chaos is rising. READ  

Sudden dose of winter causes traffic chaos
Snow in Oberharz. Photo: DPA

Sudden dose of winter causes traffic chaos

UPDATE: Two people were rescued from avalanches as a blast of winter has taken Germany by surprise, while snow and ice accounted for several traffic accidents across the country on Friday. READ  

BND collects 220 million phone records a day
Photo: DPA

BND collects 220 million phone records a day

Germany's foreign intelligence agency, the Bundesnachrichtendienst (BND) collects 220 million pieces of information about foreign phone calls and SMS every day, Zeit Online reported on Friday. READ  

U-turn on minimum wage for foreign drivers
Photo: DPA

U-turn on minimum wage for foreign drivers

Germany temporarily hit the brakes Friday on applying its new minimum wage to foreign truck drivers transiting the country in a move welcomed by Poland, which vigorously opposed the system. READ  

Crises make Germany EU foreign policy leader
Foreign Minister Frank-Walter Steinmeier. Photo: DPA

Crises make Germany EU foreign policy leader

Foreign policy think-tank the European Council on Foreign Relations (ECFR) gave Germany top marks in its annual check-up of EU member states released on Thursday. READ  

Prost! Beer sales hop up for first gain in 8 years
Photo: DPA

Prost! Beer sales hop up for first gain in 8 years

New figures released Friday by federal statistics office Destatis are numbers breweries can drink to, as German beer consumption saw its first year-on-year rise since 2006. READ  

Germany has thousands of uni spots open
Photo: DPA

Germany has thousands of uni spots open

New research published by Spiegel on Friday shows that there are thousands of university placesa unoccupied across the country, while certain hot spots cope with too much demand. READ  

Borussia coach admits to 'downward spiral'
Borussia Dortmund coach Jürgen Klopp at a press conference. Photo: DPA

Borussia coach admits to 'downward spiral'

Borussia Dortmund coach Jürgen Klopp admits feeling the pressure as his side resume their fight to stay in Germany's top flight on Saturday at fellow Champions League side Bayer Leverkusen. READ  

This Week in History
Theodor Heuss: modern Germany's first president
Theodor Heuss at his swearing-in ceremony in 1949. Photo: DPA

Theodor Heuss: modern Germany's first president

The first President of the post-war Federal Republic of Germany, Theodor Heuss – born on January 31, 1884 – was one of the leading liberal politicians of the Weimar Republic and later helped rehabilitate his nation on the international scene. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Business & Money
FATCA: 'The age of financial privacy is over'
Gallery
The best regional foods TTIP opponents want to protect
Photo: DPA
Features
The rise and spread of Pegida
Photo: Shutterstock
Culture
This cosplayer did not think his plan through
National
Europe in statistics - from Spain to Sweden
Photo: DPA
Politics
The Local's report from Pegida's largest ever demonstration.
Sponsored Article
Top-notch tech boosts bilingual schools
National
Six stories that will rock Germany this year
Photo: DPA
National
Terror alert at a new high. Should you be worried?
Dresden skyline and river by night. Photo: DPA
Politics
What does Dresden have against Muslims?
Photo: DPA
National
What were your favourite news stories of 2014?
Gallery
Top 12 German idioms
National
Why has The Local got a new logo?
Photo: DPA
National
This German was abducted and tortured by the CIA
Culture
10 top tips for partying in Germany
Photo: DPA
Technology
What does the Chancellor see as the future of the internet?
Photo: DPA
Berlin
The Local's series on 25 years since the fall of the Berlin Wall
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,462
jobs available
Toytown Germany
Germany's English-speaking crowd