Customers need to be notified about a provision in their bank accounts that proves inefficient in terms of fees.
Frankfurt Bank Ordered to Inform Customers About Invalid Clause
A Higher Regional Court in Frankfurt am Main has ruled that a bank must actively inform its customers about the invalidity of a specific clause in its General Terms and Conditions. The exact bank and the affected customers cannot be named due to the limited information available.
The ruling was based on the fact that many customers, particularly older people, might not perceive the corresponding information online. The court emphasised the importance of clear communication, especially regarding financial matters.
The invalid clause concerned a provision that obliged consumers to pay a safekeeping fee for savings deposits. The bank had previously been definitively convicted by the Federal Court of Justice of no longer using the disputed clause. However, the information obligation remains in effect despite the bank's previous conviction.
The bank is obliged to write to the affected customers either by post or by email about the invalidity of the clause. The bank has two months from receiving a pseudonymized contact list to pass on the information about the invalid clause. The court did not provide details on how the pseudonymized contact list will be provided to the bank.
The obligation to inform customers about the invalid clause applies only to those with classic, unlimited savings accounts. The information obligation is not contingent on whether claims may already be time-barred.
The ruling by the Higher Regional Court concerns the consequences of the invalid clause. The court did not discuss any possible appeals or further legal actions in relation to the ruling. The court also did not address any potential penalties for the bank's failure to comply with the information obligation.
The Higher Regional Court of Frankfurt am Main reiterated that many customers, especially older people, might not perceive the information online. The bank is urged to take this into account when communicating with its customers.
This ruling serves as a reminder for banks to ensure transparency and clear communication with their customers, particularly in regards to financial matters. Customers are advised to check their bank statements and terms and conditions regularly for any changes or updates.
