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Sparda bank membership fee payout on account closure

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Sorry to hijack this thread. I closed my accounts with Sparda-Bank in January this year. Their T & C state that the Mitgliederschaftsbetrag (nearly 1,000 Euros) would be paid out in June 2021. But they have not stumped up. I have sent a mail enquiry... but am still waiting. Any experience or idea what their excuse could be ?

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2 hours ago, optimista said:

Sorry to hijack this thread. I closed my accounts with Sparda-Bank in January this year. Their T & C state that the Mitgliederschaftsbetrag (nearly 1,000 Euros) would be paid out in June 2021. But they have not stumped up. I have sent a mail enquiry... but am still waiting. Any experience or idea what their excuse could be ?

 

I'm also with Sparda-Bank (München) since 16 years. In your place I'd go to the filial or set up an online appointment.. my experience with them has always been good (that's why I've never changed). 

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3 hours ago, optimista said:

Sorry to hijack this thread. I closed my accounts with Sparda-Bank in January this year. Their T & C state that the Mitgliederschaftsbetrag (nearly 1,000 Euros) would be paid out in June 2021. But they have not stumped up. I have sent a mail enquiry... but am still waiting. Any experience or idea what their excuse could be ?

 

You misunderstood, they will pay out after the the meeting of representatives (which always takes place in June) of the following year, i.e. at some point in July 2022.

See here: https://www.sparda-m.de/faq-oft-gestellte-fragen-genossenschaft/

  • You can cancel your membership at any time. If you terminate your membership by 30 September of a year, your cooperative shares will be paid out after the representatives' meeting in the following year. If you terminate your membership after 30 September of a year, payment will be made after the representatives' meeting in the year after the following year.

This is usual, all cooperative banks have such long termination periods.

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Thank you Panda. Sending a love-heart your way.

Indeed, the operative word, which I missed is übernächstes Jahr.

Note to self: always read all the words. (There are so many. Sigh.)

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