The Postbank represents the face of challenges by the low interest free current accounts in question. “Our cost model will be differentiated,” said Frank Strauss, CEO of the company in Bonn.
The new pricing model should be “2017 at the latest” start he said in an interview with the “Welt am Sonntag”. “the changes in the environment are pushing for rapid action. The entire industry will offer other models account. This is a logical consequence of the low level of interest rates.
In the past, the banks could invest customer deposits bear interest and therefore in practice cross-subsidized the checking account. This no longer works. But I must also say: There is no right to a free checking account. You pay for electricity, a part of the banking service is as current a care, “Strauss said.
Customers may need to adjust to changes
” Maybe we will not have a free account, will have then but only certain services, a sleek offering that we can afford this cost structure, “said Strauss on. The company dealing intensively and consistently with cost structures and their effects.
It is also possible that the customer must set in other areas of business changes, about minus interest. “Show the developments that we are not better hinstellt and something fundamentally excludes” said Strauss.
Less interest in normal private business are hard to imagine
“If the ECB which takes from us 40 basis points, which we pass on to them, we must also act as economically operating companies in accordance with our customers.” However, are from today’s perspective Less interest in normal private business difficult to imagine.
The accusation of wanting to raise with charges minus interest by the back door, Strauss rejected. “This is a completely different discussion. We have introduced a fee of 99 cents for physical transfers a year ago. For this we have been chastised media. Meanwhile, many banks have followed suit. “, So the Postbank boss
” Must confident represent our services “
He added:” It will go on. We need confident represent our services, look where higher costs are incurred because many employees will provide a real achievement, and be priced fair for both sides. If we have to pay on one side minus interest and have on the other side of the account completely free, it “
The cashback at the machine, however Strauss wants to keep free as far as possible.” Will end up not a shoe. Cash one of the essential services for a checking account. We want to hold in any case at a convenient supply of cash, and I can not imagine that we be priced as cash withdrawals of our customers to our machines do not today. Other we will have to look at, “said Strauss Interview
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