Cash Group
The Cash Group is the result of an agreement existing since 1998, several private banks that allow their customers to order, withdraw with a debit card for all members of the Cash Group free cash at their ATMs.
Foundation
The establishment was a response to the notice of the maximum fee agreement in respect of ATM fees by the savings banks in 1997. Sparkassen that operate 45 % of ATMs in Germany, sought to impose an increase in the charges which had previously amounted 4 DM. After this had not been supported by the Federal Cartel Office, the charges have been set free by the relevant ATM operator and passed on to the enacting customers. With the EU price regulation 2560/2001, with equal pay for transactions within the EU in EURO was prescribed with comparable domestic transactions, the so-called interchange fee has been introduced. After that was the fee that the customer had to pay to be determined by its own bank. The interchange fee, which provided the ATM operator, the house of the operative Bank customer's account, in the wake of the EU Regulation 2560/2001 therefore no longer be charged to the customer. Thus, a competition was no longer possible under the ATM providers. This meant that the interchange fees for foreign orders rose sharply.
Background for the establishment of the Cash Group is the distribution of ATMs on the individual bank groups: savings banks (about 25,700 ATMs in Germany ), the local cooperative banks (about 19,200 machines in Germany ) and the ( approximately 9,000 German ATMs ) Cash Group.
The banks involved have about 9,000 of the 55,500 existing in Germany ATMs ( as of 2008), including the cash withdrawals at cash of approximately 1,300 Shell gas stations. When abroad, customers individual members can often, but not always more ATMs of cooperation partners, the parent company or own stores charge. Of these, few customers will also benefit other members of the Cash Group. Examples include the free use of ATMs of Bank Austria, UniCredit Italy and UniCredit Romania for customers of HypoVereinsbank or the use of ATMs of Deutsche Bank in Italy and Spain to customers of other Cash Group members such as Commerzbank.
Comparison with other groups
- The Savings Banks Finance Group has more than 25,700 (2008) ATMs throughout Germany.
- The Volksbank and Raiffeisen banks have well over Germany about 19,200 ATMs.
- Cash Group: about 9,000 ATMs in Germany.
- The cash pool has more than 2,900 ATMs around 1,900 addresses in Germany.
Current members of the Cash Group
The Cash Group is made up of the following German banks and their subsidiaries (name and headquarters ) and their brands:
- Commerzbank, Frankfurt am Main Dresdner Bank brand of store Dresden
- Comdirect, Quickborn
- German bank for private and business customers, Frankfurt am Main
- Postbank, Bonn
- Noris Bank, Berlin
- Berliner Bank, Berlin
- Brand HypoVereinsbank
- Bank Neelmeyer, Bremen
- DAB Bank, Munich