Market leadership increased in two years/worldwide cash with interest

In less than two years, Postbank has created something of a record: They have issued their customers with one million SparCards with total assets of DM 4 billion. Hence, the bank has been able to systematically build on its market leadership position. In November 1998, Postbank first launched its SparCard. Since then, every second saver has opted for this form of saving. In the last three months alone, Postbank has issued a remarkable 150,000 new cards. The SparCard is a savings account in a modern cheque card format, which comes with its own PIN code.

Commission-free cash around the globe

Using their SparCard, customers can withdraw up to DM 3,000 per calendar month. In Germany, withdrawals can be carried out at the 14,000 branches of Deutsche Post and at over 2,100 Postbank ATMs.
Abroad, the bank has secured cash access in the respective country currency at more than 600,000 VISAPlus ATMs. To this end, customers can access their savings commission-free four times a year around the world.

DM 237 million cash for travellers

Today, virtually every second SparCard is used abroad. Between January and August, holidaymakers accessed in excess of DM 237 million, paid out in the respective foreign currency.

And the SparCard is a favourite with young and old alike. The most popular European holiday destinations with the SparCard continue to be Spain, Italy and Austria. But the SparCard is also used in more exotic places such as Hong Kong, Costa Rica, Argentina and the Senegal.

As the Number One savings bank, Postbank manages approximately 20 million savings accounts with a total volume of around DM 61 billion for their customers. For the SparCard, the financial institution pays the same interest as it does for the traditional savings book, in other words two percent for balance in excess of DM 3,000, 2.5 percent for more than DM 6,000 and 2.7 percent for balances in excess of DM 20,000. Since January 1, 1999, the Postbank savings book has only been valid in Germany.