highinterest rate of 3.75%, yet dissatisfaction from customers; day-money service responds

In a recent development, Wüstenrot Bausparkasse, a German financial services provider, has made significant improvements to its customer communication and portal access, following complaints from a customer.

The customer, who has opened a total of five savings accounts in the past two years, has expressed concerns about the communication from Wüstenrot Bausparkasse, stating that information is sometimes missing or leads to misunderstandings, based on experiences over a period of two years.

In response, Dirk van Issem, an expert at Wüstenrot & Württembergische AG, the parent company of Wüstenrot Bausparkasse, stated that they are currently working on improvements to provide customers with an optimal user experience.

One of the improvements includes the direct communication of the savings portal, which has been enhanced to ensure clear and concise information. Additionally, the correct access to the savings portal and information about its features are now ensured at Wüstenrot Bausparkasse.

However, Wüstenrot & Württembergische AG has not mentioned any specific improvements to the technology of its savings portal.

In a positive move, Wüstenrot Bausparkasse has also taken measures to improve customer communication by emphasizing clear communication and ensuring customers understand their insurance policies to avoid misunderstandings in claims cases, as part of their broader quality and service focus. This initiative was implemented from July 2024.

Prior to this, in July 2024, Wüstenrot Bausparkasse offered a savings account with a 3.75% interest rate, guaranteed for 12 months. However, this offer expired in mid-August 2024.

Currently, Wüstenrot Bausparkasse offers new customers 3.00% p.a. interest for a term of four months for deposits up to 100,000 euros. After the initial four-month term, the variable standard interest rate of 1.25% p.a. applies up to a deposit of 500,000 euros.

From autumn 2024, all investors who have a savings or fixed-term deposit account with Wüstenrot Bausparkasse will be able to see their account balances automatically in the Wüstenrot customer portal.

It is worth noting that the customer's savings account with Wüstenrot Bausparkasse is not the first one they have opened. The customer has found other savings accounts to be better in terms of communication and technology compared to the one offered by Wüstenrot Bausparkasse.

In a statement, Wüstenrot & Württembergische AG did not address the customer's complaints about missing or misleading information. However, they have promised improvements in their service following the complaints.

This update comes as Wüstenrot Bausparkasse continues to strive for improved customer satisfaction and service quality. The company looks forward to addressing customer concerns and providing a more seamless and transparent experience in the future.