CashPool
Cash pool is a consortium of several German banks, which enables its customers to free cash withdrawals at all ATMs of member banks.
Formation
The composite was (now Targobank ) and the Sparda banks established in July 2000 at the initiative of the SEB, the former Citibank. Later both more private banks, including many smaller banks, as well as individual cooperative banks were added.
The establishment was a response to the termination of the agreement in respect of the maximum charge ATM fees by the savings banks in 1997. Sparkassen that operate 45 % of ATMs in Germany, sought to impose an increase in the fees that previously were 4 DM. After this has not been supported by the Federal Cartel Office, the charges were set free and driven by savings banks and cooperative banks strongly upwards.
Background is the distribution of ATMs on the individual bank groups: savings banks (about 24,600 ATMs in Germany ), the local cooperative banks (about 18,000 machines in Germany ) and the ( approximately 9,000 German ATMs ) Cash Group.
The private banks have committed themselves to demand a maximum of 1.95 € for the payment for foreign customers from January 2011. Savings and cooperative banks want to charge significantly higher fees.
The ( listed below ) in cash pool participating banks have currently more than 2,900 ATMs around 1,900 addresses in Germany, of which about 160 locations, however, are not publicly available because they are on company premises or in company buildings. A full coverage is not given. Thus, as the nearest ATM of the holiday region Sylt is located about 70 km away in Flensburg.
Current members of the cash pools ( Name and Headquarters)
- Bank for Social Economy AG, Cologne
- Bankhaus Anton Hafner KG, Augsburg
- Bankhaus Bauer AG, Stuttgart
- Bankhaus C. L. Seeliger, Wolfenbüttel
- Bankhaus E. Mayer AG, Freiburg im Breisgau
- Bankhaus Gebr Martin AG, Göppingen
- Bankhaus J. Faisst OHG, Wolfach
- Bankhaus Ludwig blocker KG, Freising
- Bankhaus Max Flessa KG, Schweinfurt
- Bank Schilling & Co. Ltd., Hammelburg
- Degussa Bank GmbH, Frankfurt am Main
- Donner & Reuschel AG, Hamburg
- Princely Castell'sche Bank, Credit -Casse AG, Würzburg
- Gabler Saliter banking KG, Oberguenzburg
- Berenberg, Gossler & Co. KG, Hamburg
- Merkur Bank KGaA, Munich
- National-Bank AG, Essen
- Netbank AG, Hamburg
- Pax -Bank eG, Cologne
- Santander Consumer Bank AG, Mönchengladbach (including the branch of Santander Bank)
- Sparda banks
- Divine Word Bank GmbH, Sankt Augustin
- Southwest Bank AG, Stuttgart
- Targobank AG & Co. KGaA, Dusseldorf
- Wüstenrot Bank AG Pfandbrief Bank, Ludwigsburg