Deutsche Bank subsidiary Postbank is preparing to roll out a service that enables consumers to generate a barcode on their phone to withdraw or deposit around €1,000 per day at 12,500 retail locations in Germany
Postbank and Deutsche Bank already offer their customers nationwide, free cash withdrawals via their own ATMs and cooperations with other banks, as well as Shell.
Dominik Hennen, head of personal banking Germany at Deutsche Bank, says: "With the cash code, we are expanding our deposit and withdrawal service from bank counters and ATMs to a nationwide network of over 12,000 supermarkets and pharmacy locations. Customers can withdraw significantly higher amounts than with previous cashback offers and also deposit cash, which is particularly important for our business customers."
The transaction is carried out purely via the barcode, which is scanned at the retailer checkout. Unlike the previous cashback offers, neither a purchase nor the presentation of a Girocard is necessary. The amount also does not have to be mentioned, which meets customer requests for more discretion.
Thorsten Peppler, COO Personal Banking Germany, says: "This new service will be available to the majority of Postbank customers from November and will be gradually made available to other customers, for example those with joint accounts. In the second half of 2025, it will also be offered in the Deutsche Bank mobile app. This makes Postbank and Deutsche Bank the first banks with a large branch network to offer this additional digital cash service option in Germany."