Deutsche Bank has reacted to customer feedback by abolishing a highly criticized fee associated with the use of the Lufthansa Miles & More credit card for payments made in euros. This decision comes in contrast to many neo and direct banks that have already eliminated foreign usage fees for euro transactions. While established banks like Deutsche Bank and card issuers such as American Express typically retain these fees, they are increasingly facing pressure to remain competitive with newer financial institutions.

Previously, the bank charged a fee of 1.95% on transactions outside of the Eurozone, which could accumulate to significant costs for users, amounting to 19.50 euros for every 1000 euros spent. This fee has been a point of contention among customers, and the decision to reverse it denotes the bank's attempt to improve customer relations and enhance the attractiveness of its credit card offerings. In a further gesture, previously paid amounts for the Lufthansa credit cards will be refunded to the customers.

This change reflects a broader trend in the banking industry where customer preferences are shifting towards fee-free services. The cancellation of this card fee could potentially attract more customers to Deutsche Bank, especially among travelers who use the Lufthansa Miles & More credit card frequently. As the competitive landscape in banking continues to evolve, we may see more traditional banks adapt by removing such fees to retain and grow their customer base.