Germany's Federal Court (BGH) has ruled that annual fees charged by Bausparkassen (building societies) for managing Riester building savings contracts are unlawful. This decision is significant for consumers who have been paying these fees during the savings phase of their contracts.
The BGH's ruling specifically addressed a case involving BHW Bausparkasse, which had imposed a €12 annual fee on each building savings account. The court determined that such fees are not permissible during the savings phase, as they do not correspond to any specific service provided to the customer.
This judgment aligns with previous decisions where the BGH found similar clauses in Bausparkassen's terms and conditions to be invalid. For instance, in 2016, the court ruled that a 2% loan fee charged upon disbursement of a Bauspardarlehen (building savings loan) was unlawful.
Consumers affected by these unlawful fees are encouraged to seek reimbursement from their respective Bausparkassen. The Verbraucherzentrale (Consumer Center) provides guidance and sample letters to assist individuals in reclaiming these charges.
This ruling underscores the BGH's commitment to protecting consumers from unfair contractual terms in financial agreements. It also serves as a reminder for consumers to review their contracts carefully and assert their rights when encountering potentially unlawful fees.