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A rant about Deutsche Bank

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I recently went to deposit a certified check in US dollars from a well known financial institution into my Deutsche Bank account. The people at DB told me that I could wait up to 6 weeks for the money to be "authorized"... being used to the German red-tape, that was OK. A week later, I see the deposit when checking my account online ... *cheers* .. it only took a week I am thinking to myself. So I make some important purchases. Then my EC card refuses to work. The next day I get a call from DB telling me that the check has not gone through .. that my account is frozen for another 4 weeks. Bunch of idiots ... Why do I see the amount as being in my account when I logon online?!? Arggggghhhh

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two words:

 

german service.

 

Nothing else needs to be said. Nothing surprises me anymore. And the worst thing? You can complain as much as you want but there's noone to complain to, no one gives a fook and noone will change anything.

 

zose are ze Roolz.

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You'd think that they'd only be able to keep getting away with this shit as long as people keep putting up with it. In most other civilised countries, if you get bad service, you take your money elsewhere and they get the message.

 

Unfortunately the Germans seem to have been brainwashed into accepting poor service. Anyone complaining about it is seen as a trouble maker who doesn't understand ze rulez.

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if you get bad service, you take your money elsewhere

Problem being... if you get bad service there's no point going anywhere else because service is bad everywhere...

 

They even have a concept for it "Service-Wüste Deutschland".

 

And it probably explains why they have the word "Service-Dienst-Leistungs-Service"... and why they get so upset when I translate it as service!

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and isaak what happened next? how can you live for 4 weeks without money? i would still complain b/c being w/out your account for 4 weeks is a big deal!

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thankfully I still have income from my employer ... i think that this, coupled with some complaining, should take the freeze of the account.

 

To add something else about DB.

 

A colleague of mine noticed that DB accidentally deposited money into his account (not big amount). Most people would probably keep quiet, but there are few super honest types that would probably report it. He went for the former. In Canada, when a bank accidentally puts money into your account, you get to keep the loot if 6 months has passed. Getting back to this story ... a few months later, my friend gets a call from a dude at DB who starts yelling at him for the mistake ?!? In a civilized world, the bank would admit to an error and apologize for having to ask for the money back - but this guy was putting the blame on my friend ... crackers!

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If that happened to me, I'd immediately close the account and go to a different bank. What happened to your friend? Did the bank make him pay any fees?

 

Luckily I've never had any serious problems with my bank (Dresdner). The only thing that happened was recently when I set up transfer of a large amount of cash, and they did it twice, leaving me with almost no money in the account. It would have been much more serious had I not been transferring to one of my own accounts. To their credit, they fixed it within a day of me complaining.

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malcolm, I have to disagree that dresdner is any better. they did the same thing to me last month. took them 5 weeks to get a french cheque banked (plain vanilla cheque, in euros so not even a foreign currency or anything)! and they charged 15 bucks for the privilege! and since allianz owns dresdner we are considered "employees" so supposed to get privileged service (wonder how the other poor sods are treated in that case...) and when I rang them up to complain about this, they tried to put the blame on me ("what? you do not systematically make and keep a photocopy of every cheque you bank? well in that case you shouldn't be surprised that I can't investigate the matter..." were the literal words of the dresdner "mitarbeitergeschäftsstelle" person)

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I'm not saying they're any better, just that they've not given me any shit so far. The first time they do, I'll close the account and go elsewhere.

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In my 2 months here I have not been impressed with the banking fees my Stadtsparkasse bank charges me. First they charge me 20 Euros just to issue a bank card, then they charge me around 2.50 Euros every month for what appears to be no reason at all. Also, every time I use my card to pay for stuff I get charged 35 cents (not a lot but it has the potential to add up). I then used a different bank to withdraw 10 Euros and got charged 3.50 Euros. When I deposited a Portugese cheque which was in Euros they charged me 15 Euros!!! Rip off merchants, the lot of them!!

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Malc, you're still paying for them holding your money for you? As soon as they charged me the first time I switched to Postbank where if you earn enough you don't have to pay a fee (which I think is a bit odd, surely socially it should be the other way around...). Any road up, they've never given me any aggro. I think the only thing I pay for is money transfers overseas.

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if you earn enough you don't have to pay a fee (which I think is a bit odd, surely socially it should be the other way around...)

not really, since they earn float on your money (i.e. you get 0.2% or something on your balance and the bank places it interbank at whatever the overnight rate is, usually around the same as ECB base rate which if I am not mistaken is like 2%) so essentially if you have a higher average balance you end up paying more than if you just pay the fee, you just don't physically see an entry on your statement...

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I've heard bad things about the gouging at Stadtsparkasse from many people. I don't use them, but maybe you should do some comparison shopping.

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Jordigo, I wasn't really talking about what was best for the bank, rather what was better for people in general. I would pay a few Euro per month if someone who earned very little (and hence could less afford to pay) got a free account. And your argument only stands if Dresdner aren't doing the same thing as you suggest, and I would bet a pound to a penny that they do, and they take their monthly fee as well. They wanted me to lend them my money at 0% interest or so and then... charge me for the pleasure. Say wha'? That's worse paying the GEZ and then finding out that all there is on TV are stupid wannabeapopstar programmes.

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I use Sparkasse and they don't charge me monthly fees or a fee to use my EC card. Every quarter they seem to apply chrgaes which I never understand but is only ever a few Euros. It's just a regular account with an EC card that I use to pay all my bills.

 

I have an English speaking contact who is absolutely delightful to deal with.

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I would pay a few Euro per month

my point is: you already do, even if you don't see the money physically leaving your accout. all banks do it. so my point is: there is no need for you to pay a fee, you already are paying them a "hidden" fee, which is why they tend to not charge you an extra monthly one. they only charge a monthly fee to low-balance accounts since the interest differential they earn on those is "too small" to warrant the "work" involved

 

in all fairness, small account holders are paradoxically more likely to be high-cost (e.g. pensioners who go to the bank branch instead of banking over the internet or using cash points, insist on doing everything by paper/post etc...) - my point there was: this is not a german thing, it is a bank thing. small accounts are just unattractive business for banks...

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2 months ago I applied for a loan with Deutsche Bank, approved no problem, everything hunky dory ! As it was to pay off a VISA bill in the UK, they even offered to do the transfer for me ! Cool. Got the Iban & BIC number and they transferred it. 3 wks later and numerous phonecalls the money was still not received in the UK account, the money had left my German account and appeared to be in Cyperspace "limbo". Eventually they admitted the transfer had not worked and returned the money to my account. But 521 Euros short :o Another 2 weeks later, putting up with excuses like holidays and covering personnel not knowing the process, I am slowly losing the rag with DB, so have made an appointment to see them AGAIN ... Quite simply : I want my money back and using BS excuses like Exchange rate fluctuations does not wash for such an unbelievable delta in money in my account !! the loan wasn't that much but the delta is inexcusable !

They were at fault as the numbers I gave them were all correct ...

 

What would be the best way to claim for some sort of compensation ?

Help !! Any advice would be greatly appreciated.

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