I'm a lawyer in Germany. Here the special conditions between customer and bank are part of the contract. So we are talking about a clause in these special conditions prohibiting the use of a password manager.
I went to the site of my bank, drew the conditions and really, it says, the customer is not allowed to store the password on his PC.
So this clause forbids to store my pw on the PC. The question is, do I really store the password inside the password manager, or do I "store" something like
23%%4l5ksa0ß90ßv9w6&!? And is this a legal clause?
I appreciate your question!
Edit: How to solve the problem? -- As pai28 asks. I'm not even sure that the people who wrote those conditions are aware of the progress we, the users, made during the last years. We use pw-managers, because an existence online is impossible without.
So the clause should be altered: The customer is not allowed to store the password unencrypted on any IT-device. Or something like this.
I'll write to the association of my bank and ask. If I ever get a serious answer (not blabla,dear customer we very much appreciate, but mucho complicado...), I'll report on the outcome.
Finally ! Storing passwords encrypted will be ok (2019!)
In June 2019 I got new terms & conditions from my bank and one of the clauses says, that the customer of the bank ( = me ) is not allowed to store the authentication secrets unsecured on my computer. So storing passwords, transaction numbers, whatever using a password manager or encryption finally is ok!
The bank (a »Volksbank« in Germany) has a record of caring about the customer's side of encryption. They offered even gpg-encrypted e-mails, which I really appreciated. It is a local bank and I won't swap them for an internet based bank.