Raiffeisen abolishes a savings account with a password
Business
The Raiffeisen banks in Salzburg are now abolishing 250,000 password savings books, causing a stir in domestic consumer protection. The Raiffeisen Association argues that this form of saving is no longer up-to-date, it is prone to abuse and the password can easily be forgotten.
Anyone who owns or bestparts a savings book with a solution word needs to act now. The Raiffeisen banks are currently informing their customers about this by letter, poster and the Internet. From July 1st, this form of savings will no longer be offered because the risk of abuse is too great, says the spokesman for the Raiffeisenverband Sigi Kämmerer: “These are security reasons, because the savings book could be stolen or lost and some people have not secured the passwords well either. “With a legitimate savings account, there is greater certainty that only the owner withdraws,” said Kämmerer.
Consumer advocates: Abolition incomprehensible
Consumer advocate Thomas Flöckner from the Chamber of Labor finds it incomprehensible that existing password credits at Raiffeisen will only be paid out in the future: “From our point of view, there was no problem in the savings book area.” Why this form of saving should no longer be possible and what the benefits are the bank is said to be beyond his knowledge, says consumer advocate Flöckner.
Several banks are deviating from the solution word savings book
It was not the sole decision of the Salzburg Raiffeisen Association, but more and more banks would abandon the solution word savings book, including several institutes in Salzburg, says Raiffeisen spokesman Kämmerer and refers to the corresponding judgments of the highest courts.