Cash: The Germans ‘ favorite child?

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To rotate with its announcement of the fees, screw the savings banks have made an unpopular decision. Cash costs. Now, the customer, the citizen has it in the Hand: he Is ready to pay for his coined liberty, or he is helping hardworking, cash in this country to abolish.

Bargeld: Des Deutschen liebstes Kind?

Image source: eyetronic –

Currently, there is no day that is not about other banks, it is reported that the dictum of the German Federal Bank Executive Board member Andreas Dombret passes. On the German banking day in Berlin, he recently announced the “end of free culture”, which includes the fees for cash Withdraw as well as account management fees. Since you read far and wide by the greedy banking world that wants to pull respectable citizens the money out of your pocket.


Cash disappears today


However, the Outcry irritated. Already today, the cash disappears from the wallet. In 2008, every German citizen an average of 118 euros in the purse, were in 2013, only 103 Euro, and falling. At the same time transactions and the transaction to put the volume of non-cash means of payment. The price-sensitive customer to avoid so unknowingly already cost, although this is most likely for reasons of easier and faster handling. In the phase of low interest rates savings banks provide the customers with the choice: do without cash, no fees are charged. You do not want to miss, however, your anonymous means of payment, it should bear equally the costs.


The cashless society is calling


The new fee models could be an important step in the direction of a cashless society. Currently, financial institutions strive to keep integrity in the digital Transformation step. But also the new services and offers cost. That savings banks pull out of formerly free Services, to Finance, is your right.


If the citizens would not be


Despite all the digitalisation, Germany holds on to his favorite child. Yes, cash is one of the last means of payment, purchased with the anonymous, and can be consumed. And it is free to the citizens, whether you are spending your hard earned money in cash or on a cashless basis. Nevertheless, it is important to create a cost-awareness. The customers do not need to be clear that this freedom and anonymity is free of charge. The consumer to communicate the value and the cost of note and coin, is the task of all relevant market participants, banks and transaction service providers.

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