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9-541: The cooperation was founded in 1998 and is generally not open to other members. Its primary competitor in Germany is CashPool . Most banks in Germany, while connected through the girocard network, charge ATM usage fees for customers of other banks. Prior to 1998, the charge was fixed to 4,00 DM (2,05 € ) or 1%, whichever was higher. However, this agreement was terminated by the Sparkassen (public banks), who jointly operate

18-424: A member of Cash Group after its acquisition by Deutsche Bank in 2006. This bank, insurance, or other financial services corporation article is a stub . You can help Misplaced Pages by expanding it . CashPool CashPool is a cooperation of a multitude of smaller or virtual German private banks, in which they mutually waive ATM usage fees for their customers. It is not an interbank network but uses

27-524: The ATM fees for banking customers. Finally, in 1998, the five large German private banks formed Cash Group to counter the bad press resulting from the increase in ATM fees, waiving ATM usage fees within the Group and thus for customers of the Group's member banks. After its formation, other German banks tried to become members of Cash Group but no other bank was accepted by the existing members, except new subsidiaries of

36-477: The Group. After the formation, other private banks tried to join Cash Group but were not accepted into the Group. Being smaller than the six large private banks, they operated fewer ATMs and thus would have unilaterally benefited from the use of the other bank's larger networks. As a consequence, several of these smaller banks founded CashPool and also mutually waived ATM usage fees within the group. For comparison,

45-519: The big banks CashGroup network has 9,000 ATMs, the co-operative banks (as far as being members of the Bankcard-Servicenetz) share 18,600 ATMs and the saving banks have list of 25,700 ATMs for their SparkassenCard. The private banks (but not the savings banks and cooperative banks) had undertaken to charge a maximum of EUR 1.95 for payments to third-party customers from January 2011. In August 2015, Deutsche Bank, Postbank and Commerzbank terminated

54-430: The largest German ATM network, arguing that the cost of operating ATMs was unfairly laid on them when virtual banks entered the market. As a consequence, banks now had to deal with different ATM usage charges from other banks but were legally required to make definite quotes to their customers. Most of them simply charged their customers with the estimated maximum fee and pocketed the difference, which dramatically raised

63-540: The pre-existing German ATM or Maestro / Cirrus networks. With more than 3200 ATMs, the cooperating banks' ATM networks form the smallest ATM group in Germany. The cooperation was founded in 2000. Its primary competitor in Germany is Cash Group . Most banks in Germany, while connected through the German ATM network , charge ATM usage fees for customers of other banks. In 1998, the six largest German private banks established Cash Group, mutually waiving these fees within

72-399: The so-called big five. Therefore, in 2000, several smaller German banks founded CashPool as an answer to Cash Group. Today, CashPool is Cash Group's primary competitor in Germany. However, with more than 2,500 ATMs, and 29 member institutions it is significantly smaller. Norisbank GmbH , one of the current members of Cash Group, originally was a member of CashPool. It left CashPool and became

81-540: The voluntary commitment. The banks involved in Cashpool (listed below) currently have around 2,800 ATMs in Germany, of which around 160 locations are not publicly accessible because they are located on company premises or in a company building. There is no nationwide supply or even distribution. So there are in Nuremberg, for example, there are around 20 ATMs (¾ of which are publicly accessible and also unevenly distributed within

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