Banks and Consumers

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BANKS AND CONSUMERS IV The private commercial banks’ comprehensive consumer policy scheme Information and independent decisionmaking take centre stage in the comprehensive consumer policy scheme of Germany’s private commercial banks. Clients are equal partners. A long-term partnership based on trust is essential for both customers and banks. Help in evaluating products and selecting the right one is available not only from the banks’ client advisers, but also from the Association of German Banks, which offers a wide range of independent product-related information, presented below. Educating people to become “responsible consumers” begins at school. Grasping how the economy works, understanding the principle of competition and learning to keep a cool head in a complex economic environment are things that should be taught as part of the school curriculum. For this reason, the Association of German Banks calls for economics to be made a subject in its own right and has been committed to promoting economics education for over 20 years with its extensive Schul|Bank programme. Investor confidence has been seriously undermined by the financial crisis. The Association of German Banks wants to restore this confidence – be it with its May 2009 guidelines for restoring investor confidence or the private commercial banks’ 2010 standard for product information sheets. The key concern in each case is to focus even more strongly on the customer’s needs in all internal business processes. A customer-bank relationship based on a spirit of partnership involves more than merely providing information about products and services, however. Contracts, too, as the legal basis for customer-bank relations, must be framed in such a way as to be readily understood by customers. And if problems nevertheless arise, the private commercial banks’ Ombudsmen are standing by to resolve them quickly, unbureaucratically and free of charge to the customer. 1 More than consumer education – the Association of German Banks’ Schul|Bank programme All consumer education starts at school. The Association of German Banks has set itself the goal of getting more young people interested in economics and making the subject more accessible to them. More than 20 years ago, it launched an initiative under 38
BANKENVERBAND PROMOTING ECONOMIC LITERACY The Association of German Banks has for many years campaigned for economics to be put on the school curriculum as a subject in its own right. In cooperation with the Institute of Economics Education at Oldenburg University, it published a blueprint in May 2008 for teaching economics in primary and secondary education. The publication sets out an economics syllabus for all levels of education from primary school to Abitur (university entrance qualification). In 2010, using this blueprint as a starting point, the Joint Committee of German Industry and Commerce, of which the Association of German Banks is a member, issued standards for teaching economics and standards for teacher training. These initiatives and the call for a place for economics on the curriculum are gaining ever broader support – not least from students themselves, who want to see schools focus more strongly on teaching economic literacy. the name Schul|Bank, comprising a whole package of services. This commitment by the private commercial banks to education is intended to help build bridges between businesses and schools. The aim is also to improve students’ economic and financial literacy. It is against this backdrop that the Association of German Banks offers teachers and students an extensive, tailored information programme on economics. Information booklets for students Booklets about economics, banks, dealing with money and choosing a career teach students how the economy functions. “Rund ums Geld” (All about Money), for instance, leads students through a role-play exercise, in the course of which they learn a lot about managing money. Simulations of real-life situations make them aware of their saving and spending behaviour. They practise managing their own finances and are familiarised with a variety of banking services and investment opportunities. The series entitled “Wie – Wirtschaft erleben” (How the Economy Works) teaches young people basic economic concepts and principles with the help of material drawn from their everyday life and experience. These publications also 39
Page 1: BANKS AND CONSUMERS The comprehensi
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40.001 (01/12) Cost of Bank Service
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BANKS AND CONSUMERS Useful internet
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