In times of low interest Sparkasse Ulm wants a chunk get rid of the leg – and attract thousands of customers in high-interest savings contracts. Over a year savers have argued in court. Now the judgment has been made.
In the dispute over the termination of high yield savings accounts at Sparkasse Ulm, the district court savers strengthened the back. According to a judgment of the District Court of Ulm on Monday, the Bank may terminate its so-called Scala contracts not just quit.
A decent right of termination exists according to the legal provisions do not, said the court. ‘ / p>
background of the conflict is the ongoing low interest rates . The bank had tried to lure savers with alternatives from high-interest contracts – otherwise threatened with dismissal. Is challenged had, among other things, a lawyer who represents several savers.
The court did not accept as grounds for termination or modification of contracts, changes in interest rates. A spokesman for the bank announced that it would study the ruling and then decide on appeals.
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The bone of contention is around 22,000 Scala contracts. This had completed the Sparkasse Ulm between 1993 and 2005 with their customers. In times of low interest rates they are home for the money but a burden. Alternatives, the Bank therefore wanted to lure customers from the last good-rate contracts – otherwise threatened with dismissal.
How did customers react?
Some 14,000 customers went to alternative offers a – probably out of fear, otherwise to be worse in the end. About 4,000 savings accounts are already a problem for the bank because they either expire soon or bespart only low amounts. But another 4,000 customers resisted.
A lawyer and the Consumer Association Baden-Württemberg involves two separate procedures for savers in court. Individual customers complained.