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Stand:updated on 02.04.2016 Costs and charges for banking transactions

In principle, banks can impose charges on their customers as contractually agreed. They usually have price lists available. The size of the fees charged by ATMs is not regulated in law either. However, credit institutions are not allowed to charge fees for certain services, or certain restrictions may apply, for example to foreign transfers.

Legal basis for charging fees

The decisive legal basis for charging fees is provided by the contractual agreements between credit institutions and their customers. According to the general terms and conditions, the level of interest and fees for loans and services customary in the area of retail and corporate customers is set out in the notice of charges and additionally in the schedule of charges. Unless otherwise agreed, if a customer uses a loan or service specified therein, the interest and fees as stated at such time in the notice of charges or schedule of charges will apply. For services not specified therein which are performed on instruction by the customer or in his presumed interest and which can only be expected in return for a fee, the bank may determine the amount of fees according to its reasonably exercised discretion (section 315 of the German Civil Code (Bürgerliches Gesetzbuch BGB)).

Whether and in what amount fees are charged for banking services is left solely to the specific competing credit institution to decide as a matter of its corporate policy. In the interest of freedom to contract, a bank and its customers are free to offer, conclude or refuse a contract on the respective terms.

BaFin does not regulate fees

In respect of their fee policy, the credit institutions are not subject to any regulations whose observance would be subject to supervision by BaFin or another authority. BaFin is not authorised to directly interfere with banks’ fee policy and to prohibit the banks from charging certain fees, to limit the levels of such fees or to review them in terms of legality.

In cases of dispute, the question of whether and to what extent a fee charged is justified on the merits and in terms of its amount can only be clarified by a court.

Questions & answers

Who sets the fees for the use of automatic teller machines (ATMs)?

The amount of fees charged for cash withdrawals at automatic teller machines (ATMs) is not provided for in statute and is defined by the respective operator of the ATM itself. This results in price differences which in some cases may be significant (i.e. several euros).

A notice at the ATM tells you specifically what fees are charged. If you find that they are too high, you can cancel the payment procedure free of charge and use another ATM offering the same service for a lower fee.

Generally, no fees are charged to the customer for withdrawing cash at his bank’s own ATMs. Some credit institutions have joined together to form networks of ATMs (e.g. Cash Group, Cash Pool) and amongst themselves do not charge their customers any fees for cash withdrawals. However, you should take care to ensure that the ATM belongs to the relevant network to which your bank also belongs.

What applies in the case of international transfers?

As a general rule, the following applies:

International transfers in euros (SEPA transfers) are priced the same as equivalent domestic transfers. This assumes that the recipient account is a euro account and is held in a country that belongs to the European Economic Area (EEA), which consists of the Member States of the European Union, as well as Norway, Iceland and Liechtenstein.

If a SEPA transfer in euros is made to an account with a different EEA currency (e.g. Polish złoty, Romanian leu or Hungarian forint), the recipient may be liable to pay additional charges for currency conversion.

Credit institutions can choose to price international transfers in third-country currencies, such as the US dollar, as they see fit. The same applies to transfers denominated in another EEA currency such as the Polish złoty.

Information about the specific costs for an international transfer can be found in your credit institution’s schedule of prices and services.

We would also recommend consulting our information on time limits for bank transfers .

Please also note:
International transfers of EUR 12,500 or more must be reported to the Deutsche Bundesbank under the Foreign Trade and Payments Ordinance (AußenwirtschaftsverordnungAWV). Please contact your credit institution if you have any questions in this regard or if you would like to obtain the necessary reporting forms.

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