Banks signal readiness to reduce ATM fees
Published: 26 Mar 10 08:34 CET | Print version
Online: http://www.thelocal.de/money/20100326-26135.html
German Consumer Protection Minister Ilse Aigner said on Friday promised a solution to soaring cash machine withdrawal fees was on its way, as banks have signalled a willingness to agree to an upper limit.
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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)
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Your comments about this article:
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
i can't find this information anywhere on the ATM machines...until I received the statement of transactions...
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