Contents page 1 — ripped off by the Bank consultants page 2 — Unnecessary and over-priced payment protection insurance page 3 — Santander called the allegations “dubious” On a page

Who is recording in the case of German banks an installment loan, read often advise is wrong or bad – for their own financial loss. This shows the experience of almost 100 test buyers and test purchasers. Financial experts had sent in the branches of different banks, credit talks. To clarify, In many cases, submitted to Bank consultants, the test buyers in a offer without the financial situation of their potential clients sufficiently. Even obvious risks are ignored by the seller. So the banks put their alleged clients of the danger to the loan later.

In the worst case, can slip, a borrower in the over-Indebtedness. In Germany, meanwhile, a mass phenomenon: In October 2018, it was, according to credit reform, around seven million people in Germany.

previous studies, such as by the Federal financial Supervisory authority Bafin in 2017, had shown: banks a significant additional charge at the time of lending, in part, the costs or commissions and not disclose it to often. In some cases, the effective lending interest rate amounted to usurious heights. The risk that the customers can use of such loans is very high. Even if you manage a debt restructuring to negotiate, you have to accept in many cases worse conditions. But their financial problems still grow.

“A consistently negative image”

test purchases to show how bad advice among the banks is. Together, they resulted in a relatively large sample (see Infobox), was evaluated by the Institute for financial services, iff, on behalf of the civic movement financial turnaround. The results are available ONLINE and the ARD magazine Panorama. The Tester should find out through your questions in the sales conversation, how fair, discreet and exactly to the banks their customers about consumer credit advice. The conclusion of the iff, the researchers used the interview protocols: “It is a negative image results consistently.” Some institutions were noticed in the Tests, however, are particularly bad, for example, the Bank Santander.

Across the table, The method of credit tester

withdrawn from a Bank consultant in Order to examine the quality of the Credit counseling, sent to the Institute for financial services iff 94 test buyers and test buyers in different Bank branches. Pure online loans were excluded. Were considered branches of Commerzbank and the German Bank Hypovereins and Postbank, Santander, Targo and Sparda-Bank, the savings banks and Volks – and Raiffeisen banks.

The Tester should inquire in a personal interview in accordance with the terms and conditions for an installment credit either in the amount of 8.499 euros, supposedly for the purchase of a used car, or in the amount of 15.230 Euro for a honeymoon. They received 166 loan offers, which were evaluated for the study. The low number of cases shows that The results are not representative. But according to the researchers, this is the first study with such a large sample.