• Germany's news in English
 

Banks block Iranian students' accounts

The Local · 19 Feb 2013, 14:37

Published: 19 Feb 2013 14:37 GMT+01:00

The website of Der Spiegel magazine reported on Monday that affected customers received letters from their banks notifying them of the imminent closure of their accounts. No reason for the decision was given.

"Since November 2012 the number of complaints about blocked accounts and denied applications has risen substantially. Hundreds of Iranians have been affected," said Lutz Bucklitsch from a Berlin-based Iranian refugee organisation.

Some of the accounts had balances exceeding €1,000. Holders were notified by post that they could either withdraw the balance in cash or transfer it to another institution.

Although the banks in question have declined to reveal the reasons for their course of action, insisting on banking confidentiality, Sparkasse and Giroverband have pointed to international sanctions against Iran implemented in response to its controversial nuclear programme. The measures have drastically reduced German business ties with the country.

The sanctions have been in place since 2007 and alongside businesses they have affected particular individuals within Iran. Those who do not appear on the blacklist, however, should be allowed to continue managing their private financial affairs without hindrance.

"Due to increased pressure from trading partners in the USA, German banks have been gradually shutting Iranian customers out," Bucklitsch told Der Spiegel. "From the American point of view, no business should have anything to do with Iran."

The rash of account closures has even reportedly sparked the German government to contact the banks. Emily Haber, a German Foreign Office official, informed the institutions by letter that their moves to block Iranian citizens' accounts had no legal basis. She has called for "a fresh audit into account management and new openings."

The Local/mjl

The Local (news@thelocal.de)

Your comments about this article

04:51 February 20, 2013 by AmericanMade
Wrong, wrong, wrong. I am ashamed on so many levels.
07:50 February 20, 2013 by lucksi
Some people even had balances exceeding 1k? Man, with that kind of money, they must be here to buy stuff for the nuke reactors.

Remember, you too can save a nuclear program in another country for just one Euro a day.
08:32 February 20, 2013 by murka
Aren't these two different things:

1) a legal resident who happens to have Iranian passport, and

2) the Iranian government?

Either there is a missing bit, or the bank ppl are a bunch of morons.
12:37 February 20, 2013 by TheWonderer
Unfortunately, these days there is a lot of money washing the "little by little" way.

So they are afraid to do the wrong thing - but hit the wrong folks.

That is sad, but it also happens in lots of other cases were you have to prove the origin of the money you paid onto your account.

TheWonderer
13:30 February 20, 2013 by sonriete
It's like punishing the son for the sins of the father.
18:27 February 22, 2013 by raandy
Blocking accounts only because the person is Iranian is despicable, these people need their funds to survive as many are students.I would assume that they are funded through these accounts and the closing of them will be a hardship.

Wondrerer its "money laundering"
17:29 February 23, 2013 by yuri_nahl
It seems like Germany is becoming a poodle country. I seem to recall, only the western countries have repeatedly tried to overthrow Iran since 1900 in order to steal their oil. Try opening a history book.
Today's headlines
Formula One
Rosberg 'overwhelmed' by birth of daughter
Formula One Mercedes driver Nico Rosberg with his wife Vivian. File photo: DPA

Rosberg 'overwhelmed' by birth of daughter

3 hours ago

Star Formula One driver Nico Rosberg confirmed on Monday that he and his wife Vivian are now the parents of a baby girl, saying the couple were “overwhelmed and totally in love”.

'No limit to refugees Germany can take in'
Refugees arrive at an intake centre. Photo: DPA

'No limit to refugees Germany can take in'

4 hours ago

Germany's top official dealing with refugees said on Monday that there was 'no upper limit' to Germany's capacity for taking in people in need of asylum.

Berlin orchestra's Tehran concert blocked by Iran
Daniel Barenboim. Photo: DPA

Berlin orchestra's Tehran concert blocked by Iran

5 hours ago

Iran has barred famed conductor Daniel Barenboim from entering the Islamic republic because of his Israeli citizenship, thwarting his plan to lead a performance in Tehran, media reported Sunday.

Bundesliga
Dortmund reclaim top spot with Hertha win
Borussia Dortmund celebrate scoring against Hertha Berlin. Photo:DPA

Dortmund reclaim top spot with Hertha win

5 hours ago

Borussia Dortmund reclaimed top spot in the Bundesliga from Bayern Munich on Sunday with a 3-1 victory over Hertha Berlin -- their eighth straight win under new coach Thomas Tuchel.

Germany's friendship vow to Afghanistan
Frank-Walter Steinmeier in Afghanistan on Sunday. Photo:DPA

Germany's friendship vow to Afghanistan

6 hours ago

Foreign Minister Frank-Walter Steinmeier said that German friendship with Afghanistan had "no end date" as he visited Kabul under tight security on Sunday.

Migrants crisis
German media and celebs rally for refugees
A welcome party for refugees in Heidenau on Friday. Photo: DPA

German media and celebs rally for refugees

21 hours ago

Germany may have witnessed violent anti-refugee protests this week -- but the message from the country's media and celebrities is a loud and determined welcome for people fleeing the horrors of war.

Buzz grows over Poland Nazi treasure train
Ksiaz Castle in Poland, around where the treasure is fabled to be. Photo: Drozdp, via Wikimedia Commons

Buzz grows over Poland Nazi treasure train

1 day ago

Poland's deputy culture minister has claimed to have seen a ground-penetrating radar image of the alleged Nazi train that has set off a gold rush, adding that he is 99 percent sure it exists, while other sources claim the treasure has already been found.

Migrants crisis
Mass pro-refugee rally held in Dresden
Photo: Oliver Killig / Picture Alliance / DPA

Mass pro-refugee rally held in Dresden

1 day ago

Thousands of people took to the streets of the German city of Dresden on Saturday to welcome refugees, an AFP journalist at the scene said, following a string of violent anti-migrant protests in the region.

Migrant crisis
Austria refugee tragedy suspects appear in court
Screen shot from video by Andi Schiel

Austria refugee tragedy suspects appear in court

2 days ago

Four defendants were to appear in court in Hungary on Saturday over Austria's migrant truck tragedy, as a "horrified and heartbroken" UN chief called for international action to end Europe's refugee crisis.

German court: Ban on refugee demos must stay
Anti-refugee demonstrators carry a sign accusing Chancellor Angela Merkel of being a "traitor to the nation" this week in Heidenau. Photo: DPA

German court: Ban on refugee demos must stay

3 days ago

Update: A German court on Friday night reinstated a ban on rallies in an eastern town hit by violent anti-migrant protests, overturning an earlier decision that found the restriction to be "illegal".

RECEIVE OUR NEWSLETTER AND ALERTS

National
Weekend of anti-refugee violence shocks Germany
National
Half of Germans 'have had sex in their car'
Society
Deadly stew spooks home vegetable gardeners
Politics
The man who brought two Germanies together
Features
Where to get your culture fix in Cologne
Education
Fairytale world of Brothers Grimm brought to life
Rhineland
Thieves leave 1,000 open beers untasted
National
Way to some Germans' hearts is through their wallets
National
Germany's biggest challenge: European refugee crisis
Travel
Where to get your adrenaline pumping in Germany
Technology
Could thieves hack into luxury cars?
What to watch out for when snapping your lunch
National
German lefties through history
National
The fight over prostitution heats up
National
Merkel: migrants, not Greece, are the real challenge
Features
How I explained the Queen to the Germans
Education
Why Germany does 'back-to-school' traditions better
National
Germans are ‘not how foreigners think’
National
A mum and daughter reunite 70 years after WWII
Sport
Bra stops bullet in hunting mishap miracle
National
Cows trample German woman to death in Graubünden Alps
Business & Money
Start-up helps new Berliners short cut bureaucracy
National
The 1,000s of Germans massacred after the Second World War
Sport
Germany star scores own goal with PR gaffe
Features
'Women-only' parking: sensible or sexist?
Politics
Satire and reality blur in parody party's strife
National
13-year-old boy detained for trying to join Isis
Culture
Berlin restaurant serves up Greek Crisis Menu
Rhineland
Doctor on trial after woman wakes in morgue
Society
Six odd things Germans do in the summer
Society
Police bust kinky Bavarian couple over painful love-making
Politics
Merkel brings Palestinian girl to tears
Hamburg
Amateur archaeologist finds Nazi gold hoard
National
Could Merkel learn a lesson in love from this doppelganger?
Travel
Why you should stay in Germany for the summer holidays
Sport
German press tell Schweinsteiger 'good riddance'
National
Hamburg gets a bouncing 100kg baby girl
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

6,967
jobs available
Toytown Germany
Germany's English-speaking crowd