Cash pool

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The Cashpool ( spelling CashPool ) is an amalgamation of several German banks , which enables its customers to withdraw cash free of charge from all ATMs of the member banks.

Emergence

The association was founded in July 2000 on the initiative of SEB , what was then Citibank (now Targobank ), what was then CC-Bank (now Santander Consumer Bank ) and the National Bank . Later the cooperative Sparda banks and other private banks, including many smaller banks and individual cooperative banks, were added.

The establishment was a response to the termination of the maximum fee agreement with regard to ATM fees by the Sparkassen in 1997. The savings banks, which operate 45% of ATMs in Germany, wanted to enforce an increase in fees that were previously DM 4. After this was not supported by the Federal Cartel Office , the fees were set freely and significantly increased by savings banks and cooperative banks.

The background is the distribution of the ATMs to the individual bank groups: Sparkassen (approx. 24,600 ATMs across Germany), the Volks- und Raiffeisenbanken (approx. 18,000 ATMs in Germany) and the Cash Group (approx. 9,000 German ATMs).

The private banks (but not savings banks and cooperative banks) had undertaken to demand a maximum of 1.95 euros for payments from outside customers from January 2011. In August 2015, Deutsche Bank, Postbank and Commerzbank terminated the voluntary commitment. The banks involved in Cashpool (listed below) currently have more than 3200 ATMs at around 1900 addresses in Germany, of which, however, around 160 locations are not publicly accessible because they are located on company premises or in a company building. There is no area-wide supply or even distribution. So are z. For example, around 20 ATMs in Nuremberg (¾ of which are publicly accessible and also unevenly distributed within the city), while the closest ATM to the Sylt holiday region is only around 70 km away in Flensburg.

Current members of the cash pool

former members

  • Wüstenrot Bank , Ludwigsburg : The member left on November 29, 2019 due to the merger with Oldenburgische Landesbank (OLB). Customers who have migrated to the OLB Group can use the cash pool.
  • Schmidtbank , Hof : Until 2004, SchmidtBank was also part of the cash pool. SchmidtBank, which last operated as a GmbH , got into financial difficulties at the end of the 1990s. In 2004 the SchmidtBank brand was taken over by Commerzbank and the SchmidtBank branches were converted into Commerzbank branches. Commerzbank AG belongs to the cash machine network Cash Group .
  • Baden-Württembergische Bank (BW-Bank), Stuttgart : Until July 31, 2005, BW-Bank was also part of the cash pool. BW-Bank withdrew from the cash pool when it was taken over by the public-law Landesbank Baden-Württemberg (LBBW) . Since then, BW-Bank customers have been able to use the savings banks' ATMs free of charge.
  • Erste Rosenheimer Privatbank , Rosenheim : Erste Rosenheimer Privatbank AG, as a company of the Kathrein Group, ceased business with external customers on March 31, 2006 and thus also ended its membership in the cash pool. The bank has been operating as Erste Rosenheimer Finanzservice AG since April 1, 2006 and exclusively carries out the group financing business of the Kathrein Group.
  • Norisbank , Nuremberg : Norisbank AG was taken over by the Deutsche Bank Group with effect from October 31, 2006 . As a result, the bank withdrew from the cash pool on March 31, 2007. As early as October 31, 2006, Norisbank returned to the Cash Group ATM network . During this transition period, Norisbank was a member of both the cash pool and the cash group. Because it was part of the HypoVereinsbank Group at the time, Norisbank AG was a member of the Cash Group until 2003.
  • CVW-Privatbank , Wilhermsdorf : CVW-Privatbank AG (formerly Creditverein Wilhermsdorf AG) left the cash pool on December 31, 2006. A reason for the exit is not known.
  • Readybank , Berlin : Readybank AG (formerly ABC Privatkunden-Bank GmbH) left the cash pool on July 3, 2007. The takeover by WestLB in March 2006 was given as the reason for leaving .
  • GE Money Bank , Hanover : As of July 1, 2009, GE Money Bank GmbH merged with Santander Consumer Bank AG. Since Santander Consumer Bank AG is also a member of the cash pool, the ATMs of the former GE Money Bank GmbH can still be used free of charge.
  • Reuschel & Co. , Munich : Through the takeover and merger with Conrad Hinrich Donner Bank, Reuschel & Co. now operates under the name Donner & Reuschel .
  • SEB AG , Frankfurt am Main : SEB AG sold its German private customer business to Santander Consumer Bank AG as part of a realignment in 2010. The former SEB branches were integrated into the Santander Bank branch with effect from January 31, 2011 .
  • Bankverein Werther AG , Werther (Westphalia) : The Bankverein Werther Aktiengesellschaft (today Net-m Privatbank 1891 AG ) has transferred its parent company (private, business and corporate customers) to Volksbank Paderborn-Höxter-Detmold with effect from December 1, 2011 since then only sells and operates the credit card business and strategic partnerships. This also ended membership in the cash pool. Since then, customers transferring to Volksbank Paderborn-Höxter-Detmold eG can use the ATMs in the Bankcard service network of the Volksbank and Raiffeisenbanken free of charge.
  • Netbank , Augsburg : With effect from October 9, 2017, Netbank declared all girocards it issued to be invalid and replaced them with Debit Mastercards . At the same time, membership in the cash pool expired.

Web links

Individual evidence

  1. ↑ Press release on the 15th anniversary of the cash pool , accessed on July 15, 2015
  2. ↑ Ulrich Immenga and Thorsten Körber: Market definition and market dominance in the use of ATMs (PDF; 1.5 MB)
  3. ↑ As of October 2006
  4. ↑ Private banks advance with low fees , Der Spiegel from August 25, 2010
  5. ↑ Bank fees: Withdrawing becomes more expensive. Test.de, September 15, 2015
  6. ↑ Cashpool now represented with over 3,000 ATMs. Retrieved August 15, 2017 .