Is a current account really free if the bank charges an annual fee for a corresponding EC card? The Düsseldorf Regional Court dealt with this question and ruled in favor of the consumer.
Sparda-Bank, based in North Rhine-Westphalia, advertised a free current account nationwide. In fact, the bank did not charge any account management fees. In April 2016, however, an annual fee of 10 euros was introduced for the issue of an EC card (Girocard). Customers need a corresponding card for withdrawals at ATMs and for printing account statements, among other things.
The Wettbewerbszentrale considered Sparda-Bank's advertising to be misleading. Contrary to the advertising statement, the customer had to pay the fee for the Girocard in order to use his account.
Sparda-Bank defended itself by arguing that the customer could have a so-called "white card" issued during opening hours, which could be used to make withdrawals at ATMs. The Girocard is not part of the conventional range of functions of a current account.
Court decision - Bank's advertising misleading
In its judgment of January 6, 2017 (Ref.: 38 O 68/16), the Düsseldorf Regional Court (Press release of the Wettbewerbszentrale from 10.01.2017) agreed with the opinion of the Wettbewerbszentrale and prohibited the bank's advertising as misleading.
The consumer imagines a "free current account" to be one where you do not have to pay for the current card.
Conclusion
Banks - like other service providers - must inform their customers transparently about any costs incurred. In this respect, advertising promises must also be kept. Otherwise, such advertising statements are misleading and can be prohibited.
The judgment of the Düsseldorf Regional Court is not yet final. It remains to be seen whether the bank will lodge an appeal.
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