Free cash withdrawals from supermarkets are convenient for customers, but cost retailers millions of euros a year. The German Trade Association is calling for an end to these fees paid to banks.
Withdraw money: supermarkets against bank fees
Withdrawing cash while shopping – for many customers this is a practical option that more and more supermarkets and other retailers are offering. But This service costs traders feeswhich they have to pay to the banks. The German Trade Association (HDE) is increasingly critical of this and is calling for its abolition.
The HDE argues that supermarkets are one Replacing part of the dwindling banking infrastructure. It is unfair that they also have to pay fees for this important service. Ulrich Binnebößel from the HDE makes it clear that retailers should not take on the burdens of the banks without compensation.
A study by the retail research institute EHI has shown that the amount of cash paid out at cash registers has recently increased to 12.31 billion euros. The fees that retailers have to pay to the banks are between 0.1 and 0.2 percent per transaction, depending on the agreement. Last year, according to the investigation 17.23 million euros paid in fees to the banks. The costs are passed on to supermarket customers.
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Banks counter: Cash service is voluntary
The German Savings Banks and Giro Association (DGSV) responds that Supermarkets offer this service voluntarily. There is therefore no reason for the banks to cover the costs. “It is neither possible nor desirable for retailers to take over the function of over 51,000 ATMs throughout Germany,” said a spokesman (source: Tagesschau).
But it is also clear that the Access to cash is more difficult for many consumers in Germany becomes. With fewer bank branches and ATMs, supermarket cash services are becoming increasingly important.