Cash Group is a cooperation of the four largest German private banks (Deutsche Bank, Commerzbank, HypoVereinsbank, and Postbank) 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. With more than 4500 ATMs, the cooperating banks' ATM networks form the third largest ATM network in Germany.[1]
The cooperation was founded in 1998 and is generally not open to other members. Its primary competitor in Germany is CashPool.
Background
Most banks in Germany, while connected through the girocard network, charge ATM usage fees for customers of other banks.
Prior to 1998, the charge was fixed to 4,00 DM (2,05 €) or 1%, whichever was higher. However, this agreement was terminated by the