The financial regulator Bafin is increasing the pressure on the parent company Deutsche Bank in the face of massive complaints from Postbank customers. Since the turn of the year 2022/2023, the Bafin has observed “considerable impairments in the processing of customer business at Postbank”, complained the Federal Financial Supervisory Authority (Bafin). The financial supervisory authority is examining “whether there are deficiencies in the institute that are relevant to supervision”.
When asked, Deutsche Bank in Frankfurt referred to a “significantly increased number of inquiries and orders” from customers. This sometimes leads to significantly longer processing times. “We regret the inconvenience caused to our customers, for which we sincerely apologize.” The bank is working on an improvement and has, among other things, significantly increased the number of service employees.
Incorrect transfers, IT problems, long waiting times
Complaints about Postbank had increased in recent months – especially in connection with an IT changeover. Customer service was difficult to reach, so customers were temporarily unable to access their accounts, direct debits were honored incorrectly or not at all, and customer service was difficult to reach. Hundreds of complaints were received by the consumer advice centers alone.
Finally, there was also trouble over so-called seizure protection accounts. The consumer advice center for North Rhine-Westphalia criticized that a number of customers who rely on the funds in such accounts are struggling with acute financial problems due to slow processes at Postbank. The consumer advocates had called for “urgent intervention” by Bafin.
Not the first complaint
According to earlier information, Bafin has been “in close contact” with Postbank “on all restrictions in customer service” for a long time. This also applies to the processing times for garnishment and estate matters. “We have made it very clear that the institute must remedy the deficiencies that have arisen as quickly and comprehensively as possible,” said the financial regulator.
NRW Consumer Center: Bafin switched on August 23, 2023 Federal Association of Consumer Organizations on complaints about Postbank July 19, 23 Questions and answers about the seizure protection account Postbank on the IT move Postbank on the topic of complaint management Bafin announcement September 4, 2023
