Survey finds German banks steadily raising their charges
German banks are steadily raising their charges, according to a recent survey of bank customers.
The survey of 1,003 adults conducted in March for the Verivox comparison site found that 22% of bank customers had seen a rise, whether in account charges or fees for the issuing of a new card, direct debits, standing orders or cash withdrawals.
In 2021, the federal court set stricter conditions when it came to requiring banks to seek the approval of customers when changing their terms and conditions, including raising charges.
The survey found that around a half of all bank customers enjoyed free services or had to pay annual fees of less than €50 ($57). Free banking is usually linked to regular deposits by the customer.
Some 22% of customers faced annual fees of between €50 and €99, while 21% had to fork out more.
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