Cash Group

Infobox Interbank Network
name = Cash Group

area = Germany
foundation = 1998
members = 15
atm = >7,000

Cash Group is an interbank network in Germany, which connects the ATMs of the five largest German banks (Deutsche Bank, Commerzbank, Dresdner Bank, HypoVereinsbank, and Deutsche Postbank) and their subsidiaries. The network was founded in 1998 by these banks and is generally not open to other members. It is the second smallest German interbank network, with more than 7,000 ATMs. [http://www.cashgroup.de Cash Group ] ] , and only 15 participating financial institutions. The network is owned and operated jointly by these participating institutions. Its primary competitor in Germany is CashPool.

Characteristics of Cash Group

Most banks in Germany charge ATM usage fees. In 1998, the five largest German banks established Cash Group to develop a common infrastructure and cut costs. As a result, the member institutions of Cash Group chose not to charge ATM usage fees to their clients within the Cash Group network. This decision is frequently used by the marketing departments of some Cash Group members as an example of good customer service. The ATM cards within the Cash Group network are actually co-branded Cash Group/Maestro cards and are therefore, in fact, debit cards. Pure Cash Group ATM cards, without debit card function, are not issued. However, such pure ATM cards are rare in Germany since they are virtually only issued to people with a bad credit history.

After its formation, other German banks tried to become members of Cash Group but no other bank was accepted by the exsiting members, except new subsidiaries of the so called big five. Therefore, in 2000, several smaller German banks founded CashPool as an answer to Cash Group. Today, CashPool is Cash Groups primary competitor in Germany. However, with more than 2,500 ATMs [http://www.cash-pool.de/detail.htm CashPool ] ] , and 29 member institutions it is significant smaller. Norisbank GmbH, one of the current members of Cash Group, originally was a member of CashPool. It left CashPool and became a member of Cash Group after its acquisition by Deutsche Bank in 2006.

Members of Cash Group (incl. headquarters)

The five largest German banks

* Deutsche Bank, Frankfurt am Main
* Commerzbank, Frankfurt am Main
* HypoVereinsbank, Munich
* Dresdner Bank, Frankfurt am Main
* Deutsche Postbank, Bonn

Their Subsidiaries

* Bankhaus Neelmeyer AG, Bremen
* Bankhaus W. Fortmann & Söhne KG, Oldenburg (Oldenburg)
* Berliner Bank AG & Co. KG, Berlin
* Comdirect bank AG, Quickborn
* DAB bank AG, Munich
* Deutsche Bank Privat- und Geschäftskunden AG, Frankfurt am Main
* Norisbank GmbH, Frankfurt am Main
* Münsterländische Bank Thie & Co. KG, Münster
* Oldenburgische Landesbank AG, Oldenburg (Oldenburg)
* Bankhaus Reuschel & Co. KG, Munich

References

External links

* [http://www.cashgroup.de/ Official website]
* [https://www.commerzbank.com/ Commerzbank home page]
* [http://www.db.com/ Deutsche Bank Corporate Website]
* [http://www.postbank.de Postbank home page (German)]
* [http://www.dresdner-bank.com Dresdner Bank corporate website]
* [http://www.hypovereinsbank.de/ HVB home page]