The German Commerzbank AG has been writing to numerous customers in various ways for several months, asking them to confirm or update their data. If you don't comply, the bank will terminate you. Holders of Tui credit cards issued by Commerzbank are also affected.

Banks and savings banks have to observe numerous EU-wide requirements and regulations. This also includes the fact that the data records of their customers must be kept up to date. Therefore, it happens again and again that credit institutions contact their clients and ask for updates or confirmation. Commerzbank's approach, that notice is given if there is no timely response, has drawn criticism. Many of those affected claim that they never received a letter or, if it was sent via online banking, did not notice.

Numerous holders of the Tui-Card – a credit card issued by Commerzbank AG as part of a cooperation with the tour operator – received notice of termination. Some of the cards are said to have been blocked immediately. The scope must have been so extensive that Tui stepped in and asked the credit card issuer for clarification.

Now Commerzbank AG has given in and wants to continue to grant affected customers the Tui-Cards. However, this requires active action on the part of the cardholder. These need to [email protected] contact and present your request there. The bank should then again “ask for help with regulatory issues”. The questions must be answered in a timely manner. Then Commerzbank wants to withdraw the notice and release the credit card for normal use again.

The quite aggressive approach towards holders of the Tui-Card is not an isolated case within the Commerzbank group of companies. Normal current account holders and the direct subsidiary Comdirect are also said to be terminated if the request for confirmation or updating of customer data is not responded to in a timely manner. According to various Internet forums, unlike the Tui Card, there should be no “second chance” for bank customers.