Bayerische Landesbank is one of the oldest institutions in Germany. It was founded on July 26, 1914 to foster lending and investment within Bavaria for agricultural and business purposes. The bank has continued to grow ever since, not only through its domestic market, but also through acquisitions around the world, including Barclays Bank PLC’s global wealth and investment management business.
Bayerische Landesbank is a commercial bank based in Munich. In 2016, Bayerische Landesbank recorded a net income of €1.5 billion and total assets of €415 billion. The Bavarian state capital Munich is home to a thriving metropolitan area with a population of 3 million people and a GDP close to that of the United Kingdom’s. The City has been transformed into an international center for arts, culture, media, technology and trade.
Debit Card Facilities
Bayerische Landesbank is a bank operating in Germany. They are one of the largest credit institutions in Europe, with over 1,600 branches. With the ability to print their debit cards right on site, Bayerische Landesbank offers great convenience to many customers that are unable to go into a branch or drive into town for the nearest ATM. The edge card also allows for two-way contactless payments and is accepted at more than 750,000 vendors.
International banking has always been a competitive industry, but the newest trend is instant updates. Austrian bank Erste Group was the first bank to enter the world of instant updates by launching Erste on Tour. Erste on Tour provides 24-hour access to Erste Group’s financial consultants and all of their personal and business services for banking customers on the go.
Salary sorting is a process that commonly takes place for organizations that have a large number of employees. For example, a company with a workforce of 10,000 people would need to do salary sorting in order to distribute the bonuses fairly to all employees. Bayerische Landesbank, the German state bank, employs more than 4500 people and has recently been looking into how they could implement this process.
For years, the Bayerische Landesbank in Munich has used the €500 bill to make secure transactions in person. On Monday, April 3rd, they will stop accepting these bills in person and will instead ask for €100 bills or €200 bills. This follows the European Central Bank’s decision that €500 banknotes are no longer legal tender after December 31st of this year.
Tracking Your Spending
Some banks are taking the idea of customer service to a whole new level by tracking your spending and tailoring offers based on what you buy. Bayerische Landesbank (BLB) is one such bank that has been monitoring customer spending habits for years and tailoring offers based on those habits. By examining the customer’s age, gender, and other factors, BLB can offer appropriate financial products and services to customers who would not otherwise be interested in them.
Cash Withdrawal Fees
When customers of Bayerische Landesbank withdraw money from the bank in cash, they are often hit with fees. Other than the cost of withdrawing money itself, there are many additional fees that may be incurred. For instance, the fee for withdrawing too much money is €7.00 or $8.80 per transaction. Another fee is when customers withdraw over 100 Euros, then an additional €25 charge will be applied.
Card Replacement Fees
Bayerische Landesbank, which is headquartered in Munich, has informed its customers of an upcoming change to their account agreement where any card replacements will now be assessed a processing fee. The fees are not new, but they are now mentioned upfront in the card replacement section of the agreement for first-time customers. The first time you replace your card, it will cost $35. On subsequent replacements, the fee will be $25.