End of Cash Pensions in Germany: Digitalization Shocks Over 500,000 Serbs

End of Cash Pensions in Germany: Digitalization Shocks Over 500,000 Serbs

Imagine this: You are a pensioner of Serbian origin living in Germany, having worked hard for decades, and now you are told – no more pensions in cash! Yes, you read that right. The cash pension payment via postal order, known as ZZV, is soon to be history.

What’s Happening?

By the end of this year, December, the service of cash pension payments at German Postbank branches will be discontinued. Over 500,000 Serbs in Germany receive pensions, and about 30,000 still use this outdated and more expensive payment system – cash via ZZV. If you do not provide a bank account number by the end of the year, you will not receive your pension until you do. But don’t worry, the money won’t disappear – it will be paid retroactively as soon as you provide the necessary information.

Why This Change?

ZZV is outdated, slow, and more expensive. Pensioners receiving cash pensions paid up to 9 euros per month for this service, unless they were over 75 years old or in severe social situations. Germany and the EU have a legal right to a so-called basic bank account, which cannot be refused even to people with bad credit ratings or without registered residence. However, the basic account is not free – monthly fees vary from 5 to 10 euros, so users are advised to compare prices among banks.

Who Is Affected?

The most affected are older pensioners of Serbian origin who have not opened a bank account and still receive pensions in cash. It is estimated that about 500,000 Serbian-origin citizens live in Germany, and some of them will have to adapt to modern payment methods. Cash is slowly but surely going out of use, and digitalization is relentless.

What Should You Do?

All pensioners still receiving cash pensions must fill out the form “Request for cashless pension payment” and provide a bank account number. If you do not want to open your own account, the pension can be paid into the account of a trusted person, such as a spouse, but only with a valid power of attorney.

Digital Revolution or Nightmare?

This change is part of a broader digital revolution in Germany and the EU, where cash is slowly but surely losing ground. But for many older people, especially those not used to banking services, this is a real shock. How will pensioners cope in this new world? Will banks really be accessible and affordable for everyone?

Conclusion

Digitalization is inevitable, but such changes must come with adequate support and information for pensioners. More than 30,000 people still use the outdated system, and the deadline is fast approaching. If you are a pensioner or have someone in your family receiving a pension in Germany, check if all paperwork is in order. Cash is going into history, and the digital world waits for no one.

So, what about you? Have you already opened an account or are you waiting until the last minute? Or maybe you have a funny or scary banking story? Share it in the comments, so we can all laugh or be shocked together by this digital revolution!


Slug: end-of-cash-pensions-germany-digitalization-serbs

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