Banks are repeatedly terminating their customers' savings contracts - with reference to market developments. Cases at the Sparkasse Unstrut-Hainich have now alerted the consumer advice center in Thuringia.
Erfurt/Mühlhausen (dpa/th) - The consumer advice center in Thuringia has warned the Sparkasse Unstrut-Hainich for what it considers an inadmissible termination of premium savings contracts. The reason for this is the Sparkasse's justification that the contracts have become uneconomical for them because of "the continuing low interest rate environment," said Dirk Weinsheimer from the consumer advice center.
In view of the fact that interest rates have been rising for some time, this argument has no basis whatsoever. The terminations are variable-interest savings contracts.
With the warning, the Sparkasse was asked to withdraw contract terminations, the consumer advice center announced. The Sparkasse confirmed receipt. A spokeswoman said that this would be legally examined. "After an initial assessment, we consider the warning to be unjustified." According to Sparkasse, it is about permanent asset plans. Customers were therefore made a settlement offer if they terminated the contract. Some of the customers - fewer than 200 - did not accept the offer. Their contracts were terminated at the end of 2022.
According to Weinsheimer, other financial institutions in Thuringia have also terminated savings contracts in recent months for various reasons. He cited the Altenburger Land savings bank, the von Nordhausen savings bank and the Wartburg savings bank as examples. "We continue to have many requests for advice from consumers. It's about terminating contracts."
According to Weinsheimer, who deals with legal issues at the consumer advice center, the warning against the Sparkasse Unstrut-Hainich is the first of the consumer advice center against a financial institution for a long time. "But we want to use the instrument more intensively again."
According to the consumer advice center, contracts of the "Sparkassen Vermögensplan" type, for which the last contractually agreed premium level has not yet been reached, are affected by the cancellations. In the opinion of the consumer advice center, termination is not permissible for this reason alone. "With the pretext that there is still a low-interest phase and that it is forcing a contract termination, the savings bank is deceiving its customers, according to the consumer advice center," says a statement.
The consumer advice center advises customers to object to the termination of a premium savings contract. Those affected could also use free sample letters from the consumer center, which are available on the Internet. A further step is the arbitration board of the German Savings Banks and Giro Association or an advice center of the Thuringia Consumer Center.
