Despite Supreme court announcement: savings Bank interest is calculated just more wrong – what can you do

consumer advocates are appalled: Since September 2019, you will have reviewed a total of 307 savings banks-savings contracts. The consumer Central of Baden-Würt

Despite Supreme court announcement: savings Bank interest is calculated just more wrong – what can you do

consumer advocates are appalled: Since September 2019, you will have reviewed a total of 307 savings banks-savings contracts. The consumer Central of Baden-Württemberg and Bavaria come to a stark result: The customer was credited to interest rate changes "in the medium-4664 euros per contract to little interest," you.

In this specific case, it is austerity contracts of the city savings Bank of Munich with the name "S-save Premiums-flexible", which were completed between 1994 and 2004. The initially agreed interest rates on Savings accounts amounted to in the relevant cases, depending on the contract completion date between 2.5 and 4.25 percent per year.

consumer advocates: Two terms in saving contracts unlawful

there were, However, agreed in the savings contracts interest rate changes based on interest rate clauses, and that's exactly the the consumer advocates consider critical. Because you are not likely to be in the Form of the contracts, explains Niels Nauhauser of the consumer advice centre of Baden-Württemberg: "the use of unlawful clauses, customers are brought to their due interest."

Nauhauser and his colleagues complain, in particular two agreements:

  • "It is the in the notice of charges given interest rate applies."
  • "The currently valid interest rate for the savings credit can be found in the posting in the cash room."
Sparkasse refuses to cease and desist – now suit

it follows From the point of view of the consumer advocates, these clauses are illegal. The consumer advice centre of Baden-Württemberg, warned the stadtsparkasse München therefore. But it happened nothing: The cease and desist had not been delivered. The ETF savings plan comparison of FOCUS Online (display) you will Find the right ETF savings plan, in comparison

Therefore, they have filed a injunctions. In a communication from the consumer to write guards, they wanted to achieve with the lawsuit, "that it is the municipal savings Bank Munich is, on an interest rate adjustment clause in their S-save Premiums-called flexible contracts".

"Makes it clear to a court that the interest rate clause is unlawful, it can be negotiated the interest rate change. Customers will then have this question of legal certainty and may require a recalculation and an interest payment of arrears,“ explains Nauhauser. The German Federal financial Supervisory authority (BaFin) announced that they would also take action against abuses in the case of interest rate adjustments.

Sparkasse: ambiguities are long -

removed On request by FOCUS Online, the city savings Bank of Munich was spent by the Verbraucherzentrale Baden-Württemberg, not in front of filed a law suit yet. At the same time, they stressed, it was true that they had paid for S-premium saving contracts-flexible on an ineffective interest rate adjustment clause of the professions, and in the past low interest rates: "The case-law clauses will not be implemented in our company since the year 2005. The interest calculation in the earlier - i.e., before 2005 - closed premiums saving contracts is for the past 15 years, in the context of a supplementary interpretation of the contract.“ The mutual interests of the parties to be considered "appropriate" to have been. With FOCUS Online the best checking accounts compare (display) current account comparison 2020: find The best account

not convinced The consumption pads. They rather assume that they will prevail with their view before the court.

a Total of 18 savings banks and people's banks warned

The city savings Bank of Munich is not the only money the house, against the consumer Baden-Württemberg in connection with invalid interest rate clauses: Against 14 other credit institutions has already taken successful legal action:

  • Frankfurter Sparkasse
  • Sparkasse Hamm
  • Sparkasse Heidelberg
  • Sparkasse Heilbronn
  • Kreissparkasse Kaiserslautern
  • Kreissparkasse Kaiserslautern
  • Sparkasse Lörrach-Rheinfelden
  • Volksbank Main-Tauber
  • VR Bank ALB
  • Raiffeisenbank Südhardt
  • Kreissparkasse Tübingen
  • Sparkasse Ulm
  • Sparkasse Karlsruhe
  • Heidelberger Volksbank eg

in addition to the proceedings against the city savings Bank of Munich are three other methods currently still open:

  • Sparkasse Günzburg-Krumbach
  • VR Bank Rhein-Neckar
  • Sparkasse Westmünsterland
customers can. free sample cash flow

orders in other States, consumer advocates, do the similar cases against the money houses So, for example, the higher regional court (OLG) of Dresden decided to Zwickau, a few weeks ago in a pattern for a declaratory judgment against the Bank, that the clauses in premium savings contracts are null and void.

in Order to help affected customers in advance, provide the consumer centers Affected a free sample letter is available. For customers that have contracts with the appropriate clauses can ask your savings Bank to set the interest rate adjustment on a new basis, with the case-law of the Supreme court is complied with.

Here it goes directly to the free sample to the consumer.

Why lawsuits consumer advocates now?

the consumer advocates have to deal for some time intensively with the interest calculation, is, among other things, the termination wave of premium savings by the savings banks. Nationwide, well over 100 of these money houses have now terminated for the customer attractive for the credit institutions, however, quite expensive-saving contracts. Here, too, the Supreme court plays an important role. Because, according to the verdict of the judges from the 14. May 2019 may terminate the savings banks, the savings contracts after Reaching the highest bonus level (case XI ZR 345/18). With FOCUS Online, the best money provider to find (display) To the current fixed-term Deposit comparison! Savings banks and cooperative banks, die the Corona-death? Expert warns of banking crisis, FOCUS Online, the savings banks and people's banks to Die, the Corona-death? Expert warns of banking crisis

read more:
  • interest withheld? Consumer advocates advise savers to sue stingy banks
  • Invalid clauses, to low interest rates - savings banks have to repay millions of Euro: What savers now

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Updated Date: 22 July 2020, 22:27

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