No more ATMs from DKB: What does this mean for 5.8 million customers?
Millions of customers of Deutsche Kreditbank (DKB) in Germany can no longer withdraw money from the bank's ATMs, as the bank has closed its last three machines located in Berlin and Munich, thus ending a whole era for 5.8 million private customers.
The spokesperson for DKB, Hauke Kram, explained that the reason for the closure is due to rising operating costs and the continuous decline in cash withdrawal transactions. He said, "We analyzed how our customers' payment behavior has changed and found that more people prefer cashless payments." This step is part of the bank's plan to redirect its resources towards enhancing its digital services.
The dismantling of DKB's ATMs began in September 2023, with most being gradually removed, leaving only a few before the final closure. Now, customers must rely on external ATMs around the world that bear the Visa logo. Account holders with 'active status' can often withdraw money for free, but some operators may impose additional fees.
As for deposits, customers now have to use partners like Reisebank or some major retail chains and pharmacies participating in the "Cash in Shop" program. While withdrawal services are widely available, deposit services remain limited.
DKB, fully owned by BayernLB and based in Berlin, is one of the largest 20 banks in Germany with assets estimated at around 131 billion euros. It ranks second among direct banks after ING. The closure of its ATM network represents a strong step towards a future less dependent on cash in the German banking sector.