Girocard
Encyclopedia
Girocard is an interbank network
and debit card
service connecting virtually all German
ATMs and banks. It is based on standards and agreements developed by Central Credit Committee
.
German girocards are usually co-branded with MasterCard's Maestro
/Cirrus
or VISA's V PAY
logo, allowing cardholders to use them in other European countries. As another co-badging option, combined girocard/JCB
cards will be introduced in 2012.
connecting virtually all German ATMs. The network used Eurocheque
guarantee cards
as ATM card
s and did not have a name or trademark of its own. In 1991, the electronic cash
debit card
service was introduced using the same cards. The cards used for all three payment methods were simply known as Eurocheque card (German
Euroscheck-Karte).
When the Eurocheque system was disbanded at the end of 2001, the cards could no longer use the Eurocheque brand. However, German banks continued to use the EC logo, which was simply re-interpreted as "electronic cash". Consequently, the cards were colloquially known as EC card (German EC-Karte). However, the ATM network still did not have a trade name.
In 2007, Zentraler Kreditausschuss introduced Girocard as a common name for electronic cash and the German ATM network.
(up to 10 €) from customers using other banks' ATMs.
There are several cooperations reducing or waiving these fees:
Interbank network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that connects the ATMs of different banks and permits these ATMs to interact with the ATM cards of non-native banks....
and debit card
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
service connecting virtually all German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
ATMs and banks. It is based on standards and agreements developed by Central Credit Committee
Central Credit Committee
The Central Credit Committee is an industry association of the German banking industry. Its decisions are held normative for the national banking sector – either directly by interbank treaties or indirectly by preparing a corresponding ministerial or Bundesbank decision.- Structure :The Central...
.
German girocards are usually co-branded with MasterCard's Maestro
Maestro (debit card)
Maestro is a multi-national debit card service owned by MasterCard, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards...
/Cirrus
Cirrus (interbank network)
Cirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
or VISA's V PAY
V PAY
V PAY is a type of debit card issued by Visa Europe. It provides a fully chip & PIN based card that may be co-branded with various national debit card schemes, such as the German Girocard or Italy's PagoBancomat. V PAY is designed to provide a SEPA-compliant card that enables usage across the whole...
logo, allowing cardholders to use them in other European countries. As another co-badging option, combined girocard/JCB
Japan Credit Bureau
Japan Credit Bureau is a credit card company based in Tokyo, Japan. Its English name is .Founded in 1961, JCB established dominance over the Japanese credit card market when it purchased Osaka Credit Bureau in 1968, and its cards are now issued in 20 different countries...
cards will be introduced in 2012.
History
Originally, German banks formed an interbank networkInterbank network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that connects the ATMs of different banks and permits these ATMs to interact with the ATM cards of non-native banks....
connecting virtually all German ATMs. The network used Eurocheque
Eurocheque
The Eurocheque was a type of cheque used in Europe that was accepted across national borders and which could be written in a variety of currencies....
guarantee cards
Cheque guarantee card
A cheque guarantee card is essentially an abbreviated portable letter of credit granted by a bank to a qualified depositor, providing that when he is paying a business by cheque and the retailer writes the card number on the back of the cheque, the cheque is signed in the retailer's presence, and...
as ATM card
ATM card
An ATM card is a card issued by a bank, credit union or building society that can be used at an ATM for deposits, withdrawals, account information, and other types of transactions, often through interbank networks.Some ATM cards can also be used:* at a branch, as identification for in-person...
s and did not have a name or trademark of its own. In 1991, the electronic cash
Electronic cash
Electronic cash is the debit card system of the German Central Credit Committee, the association which represents the top German financial interest groups. Usually paired with a checking account, cards with an Electronic Cash logo are only handed out by proper credit institutions...
debit card
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
service was introduced using the same cards. The cards used for all three payment methods were simply known as Eurocheque card (German
German language
German is a West Germanic language, related to and classified alongside English and Dutch. With an estimated 90 – 98 million native speakers, German is one of the world's major languages and is the most widely-spoken first language in the European Union....
Euroscheck-Karte).
When the Eurocheque system was disbanded at the end of 2001, the cards could no longer use the Eurocheque brand. However, German banks continued to use the EC logo, which was simply re-interpreted as "electronic cash". Consequently, the cards were colloquially known as EC card (German EC-Karte). However, the ATM network still did not have a trade name.
In 2007, Zentraler Kreditausschuss introduced Girocard as a common name for electronic cash and the German ATM network.
ATM network
The German ATM network connects virtually all German ATMs. However, German banks charge high ATM usage feesATM usage fees
ATM usage fees are the fees that many banks and interbank networks charge for the use of their Automated Teller Machines . In some cases, these fees are assessed solely for non-members of the bank; in other cases, they apply to all users...
(up to 10 €) from customers using other banks' ATMs.
There are several cooperations reducing or waiving these fees:
- EUFISERVEufiservEUFISERV is an European interbank network connecting the ATMs of savings banks in Austria, Belgium, the Czech Republic, Finland, France, Germany, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, and Switzerland...
is a European compact which includes the Sparkasse saving banks in Germany as to waive the fees for customers of other local branches - Bankcard-ServicenetzBankcard-ServicenetzThe Bankcard-Servicenetz is a German ATM card interbank network group provided by the Volksbanken und Raiffeisenbanken services group. Technically it is not an interbank network but uses the pre-existing girocard network...
is a cooperation of most co-operative banks to waive or reduce the fees for other co-operative banks. - Cash GroupCash GroupCash Group is a cooperation of the four largest German private banks and their subsidiaries, in which they mutually waive ATM usage fees for their customers. It is not an interbank network but uses the pre-existing girocard network...
is a cooperation of major private banks, which mutually waive the fees. - CashPoolCashPoolCashPool is a cooperation of a multitude of smaller or virtual German private banks, in which they mutually waive ATM usage fees for their customers. It is not an interbank network but uses the pre-existing German ATM or Maestro/Cirrus networks. With more than 2500 ATMs, the cooperating banks' ATM...
is a cooperation of smaller private banks (including many virtual bankVirtual bankA direct bank is a bank without any branch network. It offers its financial services by:* Telephone banking* Online banking* Automated teller machines * Mail banking* Mobile banking...
s), which mutually waive the fees.