In the dispute over the negative interest rates demanded by a number of banks on larger credit balances, the Düsseldorf Regional Court has now ruled in favor of the savers and against the financial institution concerned. As a judicial spokeswoman announced on Thursday, the court assessed a custody fee of 0.5 percent per year demanded by the Volksbank Rhein-Lippe for current account deposits of more than 10,000 euros as unlawful. The 12th Civil Chamber saw the custody fee as an unreasonable disadvantage for customers. The custody of money is an integral part of a current account. The bank receives the account management fee for this. If negative interest were also charged, the customer would have to pay twice as much for the bank’s work. That is not permissible. The bank declined to comment on the verdict. The Federal Association of Consumer Centers had sued. The verdict is not yet legally binding. Both sides have appealed to the Düsseldorf Higher Regional Court.
Banks – Negative interest rates not allowed – Economy
