CashPool
Encyclopedia
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 the pre-existing German ATM
or Maestro
/Cirrus
networks. With more than 2500 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
.
In 1998, the six largest German private banks established Cash Group, mutually waiving these fees within 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, 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.
Virtual bank
A direct bank is a bank without any branch network. It offers its financial services by:* Telephone banking* Online banking* Automated teller machines * Mail banking* Mobile banking...
German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
private banks, in which they mutually waive ATM usage fees
ATM usage fees
ATM usage fees are the fees that many banks and interbank networks charge for the use of their Automated Teller Machines . In some cases, these fees are assessed solely for non-members of the bank; in other cases, they apply to all users...
for their customers. It is not an interbank network
Interbank network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that connects the ATMs of different banks and permits these ATMs to interact with the ATM cards of non-native banks....
but uses the pre-existing German ATM
Girocard
Girocard is an interbank network and debit card service connecting virtually all German ATMs and banks. It is based on standards and agreements developed by Central Credit Committee....
or Maestro
Maestro (debit card)
Maestro is a multi-national debit card service owned by MasterCard, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards...
/Cirrus
Cirrus (interbank network)
Cirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
networks. With more than 2500 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
Cash Group
Cash Group is a cooperation of the four largest German private banks and their subsidiaries, in which they mutually waive ATM usage fees for their customers. It is not an interbank network but uses the pre-existing girocard network...
.
Background
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 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, 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.
Current members
- Anton Hafner OHG, Bankgeschäft, AugsburgAugsburgAugsburg is a city in the south-west of Bavaria, Germany. It is a university town and home of the Regierungsbezirk Schwaben and the Bezirk Schwaben. Augsburg is an urban district and home to the institutions of the Landkreis Augsburg. It is, as of 2008, the third-largest city in Bavaria with a...
- Bank für Sozialwirtschaft AGAktiengesellschaftAktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e. owned by shareholders, and may be traded on a stock market. The term is used in Germany, Austria and Switzerland...
, CologneCologneCologne is Germany's fourth-largest city , and is the largest city both in the Germany Federal State of North Rhine-Westphalia and within the Rhine-Ruhr Metropolitan Area, one of the major European metropolitan areas with more than ten million inhabitants.Cologne is located on both sides of the... - Bankhaus Bauer, StuttgartStuttgartStuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
- Bankhaus C. L. Seeliger, WolfenbüttelWolfenbüttelWolfenbüttel is a town in Lower Saxony, Germany, located on the Oker river about 13 kilometres south of Brunswick. It is the seat of the District of Wolfenbüttel and of the bishop of the Protestant Lutheran State Church of Brunswick...
- Bankhaus E. Mayer AG, Freiburg im Breisgau
- Bankhaus Gebr. Martin AG, GöppingenGöppingenGöppingen is a town in southern Germany, part of the Stuttgart Region of Baden-Württemberg. It is the capital of the district Göppingen. It is situated at the bottom of the Hohenstaufen mountain, in the valley of the river Fils....
- Bankhaus J. Faisst OHG, WolfachWolfachWolfach is a city in the Black forest and part of the Ortenaukreis in Baden-Württemberg .- Geographical position :Wolfach lies where the 2 rivers Wolf and Kinzig meet in the Kinzig valley...
- Bankhaus Ludwig Sperrer KGKommanditgesellschaftA Kommanditgesellschaft is the German name for a limited partnership business entity and is used in German, Austrian and some other European legal systems....
, FreisingFreisingFreising is a town in Bavaria, Germany, and capital of the district Freising. Total population 48,500.The city is located north of Munich at the Isar river, near the Munich International Airport... - Bankhaus Max Flessa KG, SchweinfurtSchweinfurtSchweinfurt is a city in the Lower Franconia region of Bavaria in Germany on the right bank of the canalized Main, which is here spanned by several bridges, 27 km northeast of Würzburg.- History :...
- Bank Schilling & Co. AG, HammelburgHammelburgHammelburg is a town in the district of Bad Kissingen, in Lower Franconia, Bavaria, Germany. It is situated on the river Franconian Saale, 25 km west of Schweinfurt...
- Bankverein Werther AG, Werther, North Rhine-WestphaliaWerther, North Rhine-WestphaliaWerther is a town in the district of Gütersloh in the state of North Rhine-Westphalia, Germany. It is located near the Teutoburg Forest, approximately 10 km west of Bielefeld. It is best known for the Werther's Original caramel sweets, which are, however, produced in the nearby city of Halle...
- BBBank eG, KarlsruheKarlsruheThe City of Karlsruhe is a city in the southwest of Germany, in the state of Baden-Württemberg, located near the French-German border.Karlsruhe was founded in 1715 as Karlsruhe Palace, when Germany was a series of principalities and city states...
- Citibank Privatkunden AG & Co. KGaA, DüsseldorfDüsseldorfDüsseldorf is the capital city of the German state of North Rhine-Westphalia and centre of the Rhine-Ruhr metropolitan region.Düsseldorf is an important international business and financial centre and renowned for its fashion and trade fairs. Located centrally within the European Megalopolis, the...
- Conrad Hinrich Donner Bank AG, HamburgHamburg-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
- Degussa Bank GmbH, Frankfurt am Main
- Fürstlich Castell’sche Bank, Credit-Casse AG, WürzburgWürzburgWürzburg is a city in the region of Franconia which lies in the northern tip of Bavaria, Germany. Located at the Main River, it is the capital of the Regierungsbezirk Lower Franconia. The regional dialect is Franconian....
- Gabler-Saliter Bankgeschäft KG, ObergünzburgObergünzburgObergünzburg is a municipality in the district of Ostallgäu in Bavaria in Germany....
- GE Money Bank GmbH, Hannover
- Joh. Berenberg, Gossler & Co. KG, HamburgHamburg-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
- Merkur Bank KGaA, MunichMunichMunich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
- National-Bank AG, EssenEssen- Origin of the name :In German-speaking countries, the name of the city Essen often causes confusion as to its origins, because it is commonly known as the German infinitive of the verb for the act of eating, and/or the German noun for food. Although scholars still dispute the interpretation of...
- netbank AG, Hamburg
- Pax-Bank eG, Cologne
- Santander Consumer Bank AG, MönchengladbachMönchengladbachMönchengladbach , formerly known as Münchengladbach, is a city in North Rhine-Westphalia, Germany. It is located west of the Rhine half way between Düsseldorf and the Dutch border....
- SEB AG, Frankfurt am Main
- Sparda Banken-Gruppe
- Steyler Bank GmbH, Sankt AugustinSankt AugustinSankt Augustin is a town in the Rhein-Sieg district, in North Rhine-Westphalia, Germany. It is named after the patron saint of the Divine Word Missionaries, Saint Augustine of Hippo . The Missionaries established a monastery near the current city centre in 1913...
- Südwestbank AG, StuttgartStuttgartStuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
- Targobank, DüsseldorfDüsseldorfDüsseldorf is the capital city of the German state of North Rhine-Westphalia and centre of the Rhine-Ruhr metropolitan region.Düsseldorf is an important international business and financial centre and renowned for its fashion and trade fairs. Located centrally within the European Megalopolis, the...
- Wüstenrot Bank AG Pfandbriefbank, LudwigsburgLudwigsburgLudwigsburg is a city in Baden-Württemberg, Germany, about north of Stuttgart city centre, near the river Neckar. It is the largest and primary city of the Ludwigsburg urban district with about 87,000 inhabitants...
Former Members
- SchmidtBank KGaA, HofHofHof may refer to:In places:* Hof, Germany, a city in Bavaria, Germany** Hof , a district in Bavaria* Hof, Rhineland-Palatinate, a municipality in Rhineland-Palatinate, Germany* Hof, Iceland, a small village in Iceland...
- Baden-Württembergische Bank AG (BW-Bank), Stuttgart
- Erste Rosenheimer Privatbank AG, RosenheimRosenheimRosenheim is a town in Bavaria at the confluence of the rivers Inn and Mangfall. It is seat of administration of the district of Rosenheim, but is not a part of it.-Geography:...
- Norisbank AG, Nürnberg
- CVW-Privatbank AG, WilhermsdorfWilhermsdorfWilhermsdorf is a municipality in the district of Fürth in Bavaria in Germany. As of 2006 it has a population of 5,073. It is twinned with Feld am See in Austria and Jahnsdorf, also in Germany.-Neighboring municipalities:Wilhermsdorf borders*Emskirchen...
- readybank ag, BerlinBerlinBerlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...