Sparkasse creates payment function

Sparkassen customers beware: The credit institution just creates one of its many years of service. There is no alternative.

• Sparkasse creates payment functions - millions of customers are affected by conversion
• "Money card" and "Girogo": Simple prepaid payment functions at the Sparkasse
• What happens to the prepaid cards with existing credit?
• No prepaid function More at the Sparkasse: Which alternatives have customers?

Germany - With around 50 million customers, the Sparkasse in Germany is the undisputed number one under the financial service providers. Much of these customers now has to set a huge changeover, because the savings bank will make two services permanently.

Sparkasse creates payment functions - millions of customers are affected by conversion

Specifically, the abolition of the two payment functions "Money Card" and "Girogo", which were for years on the offer of the savings bank. Both functions belonged to the normal equipment of the Red Sparkassen Card. Already since July 1 2020 no new cards are published with these functions more.

The Sparkasse itself informs on your website that existing savings bank cards with the mentioned functions in the coming years should be gradually replaced by new cards. By the end of 2024, the cards with cash card and Girogo function should be completely disappeared from the market. First of last year, another innovation had been announced with giro cards.

"Money card" and "Girogo": Simple prepaid payment functions at the Sparkasse

As the reasons for the abolition of long-term services, the savings bank call "changed market conditions". Both the payment function with the cash card and Girogo have been less used by customers in recent years. Meanwhile, the "contactless payment" with the savings bank card, paying by credit card or smartphone are much more popular.

Paying with the money card / girogo is only possible by prior charging by credit (prepaid). The function can be paid to the Girocard for the electronic wallet, with the smaller purchases of up to 25 euros quickly and without entering a PIN or signature of the receipt (more news about digital at cash card).

What happens to the prepaid cards with existing credit?

With future savings bank cards, this feature will no longer be possible. What concretely means that no credit can be booked more on the map. The prepaid possibility is completely eliminated.

Customers who are currently still saving bank cards with cash card or Girogo feature can pay with it until the end of the validity of your cards. Maximum but only until December 31, 2024. Existing credit remains until then. In addition, however, the Sparkassen Card must be unloaded by 31 March 2025 at the latest.

No prepaid function More at the Sparkasse: Which alternatives have customers?

A new prepaid payment function no longer offers the savings bank after the abolition of both services. However, the company points out that the normal payment with the Sparkassen Card (debit from the account) is a fast and secure alternative to the cash card and Girogo.

Paying with the smartphone is also, especially in Corona times, another and above all hygienic method to pay shopping quickly and contactless. Until a purchase value of 50 euros, no PIN entry is necessary according to the savings bank.

By the way: If you prefer paying cash instead of card, you will increasingly get problems. Because in Germany there are always fewer ATMs. The reason for this is the digitization.

Category list image: © Julian Stratenschulte / DPA; Collage: cash card