Netbank

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netbank
logo

owner Augsburger Aktienbank AG
Introductory year 1998/2016
Products Banking
Markets Germany
Website www.netbank.de

Netbank ( spelling : netbank ; official name: Augsburger Aktienbank (netbank) , AAB (netbank) for short ) is a brand of Augsburger Aktienbank , a direct bank under which both private and business customers are served. The brand emerged on July 1, 2016 from the former Netbank AG , which was founded in 1998 and was Europe's first pure internet bank without branches .

history

Old logo until mid-2007

Netbank was founded in 1998 as a credit institution by seven Sparda banks under the name NetBank Aktiengesellschaft, a company owned by Sparda banks , and began its business activities in April 1999. In 2002 Netbank broke even . In 2004 the bank had 50,000 customers. Two years later the mobile TAN procedure (mTAN) was introduced. From January 1, 2006 to October 8, 2017, Netbank was a member of the Cashpool ATM network .

With retroactive effect to January 1, 2007, Landesbank Berlin became the main shareholder (75% minus 1 share) of Netbank in May 2007 and in summer 2007 took over the majority of the shares. In the course of this, a new logo with a stylized euro symbol was introduced. In 2008 Netbank had 100,000 customers. At the end of 2012, the mTAN was followed by the introduction of the ChipTAN process. On February 28, 2017, the ChipTAN procedure and the iTAN procedure will be switched off. On December 31, 2014 the bank had 154,497 customers with a deposit volume of 0.92 billion euros. On December 31, 2015, the number of customers remained more or less constant at 155,000; by the end of 2016 the number had reduced to around 150,000. At the end of January 2018, only 65,000 customers should be left.

On May 21, 2015 it was announced that Augsburger Aktienbank would like to take over all shares in Netbank. On November 17, 2015, the shares in Netbank were completely transferred to Augsburger Aktienbank AG and the change of ownership was completed. On 1 July 2016 took place fusion of both banks. Since then, Netbank has been continued as a brand of the Augsburger Aktienbank.

AAB is calculating through a changed fee structure (introduction of account management fees), a changed card offer (abolition of the Girocard , instead Debit Mastercard and the associated exit from the cash pool ) as well as restrictions on free cash withdrawals from the Netbank brand and the introduction / increase of a custody fee at AAB -Group with a decrease in the number of customers of approx. 64,000. The conversion of online banking in October 2017 also resulted in not inconsiderable diversion problems due to the necessary BIC conversion from the former cooperative BIC (GENODEF1S15) to the new BIC (AUGBDE71NET). The problems with online banking continued even a week after the changeover, as according to a statement by Netbank, there had never been a migration of customer data from a formerly cooperative bank to a private bank in the German banking sector and there was no experience. In the course of the migration of the IT systems of the former netbank AG to the Augsburger Aktienbank, according to the 2017 annual report, a so-called emergency status had to be declared on October 11, 2017. The main reasons for this were problems in the areas of payment transactions, addresses and card strategy / card exchange. These and other fields of action were dealt with in 17 task forces. This enabled the emergency to end after about 2.5 weeks. As a result, the problems led to a wave of customer dismissals and the bank is exposed to reputational and legal risks.

IT disruptions occurred in October 2017 as part of the transfer of customer data to Augsburger Aktienbank. The conversion from the former cooperative BIC (GENODEF1S15) to the new BIC (AUGBDE71NET), which began in October 2017 , did not go according to plan. Netbank has been listed in the Bundesbank register under the BIC AUGBDE71NET since December 4, 2017 . According to the homepage, the old BIC is still valid.

In 2020 netbank carried out a price increase for its customers. Since then, the monthly account management fee has cost a uniform € 4.85 plus fees for posting items, regardless of whether the account is used as an incoming salary account or not. The Mastercard Debit, which is issued by netbank instead of an EC card, has cost 10 € / year since 2020.

Products

The product portfolio under the Netbank brand extends from a current account to a Debit Mastercard (instead of the previously issued Girocard ), other credit cards, as well as an overnight account and a securities account .

Since October 2015, a business account has also been offered for freelancers , self-employed and registered and non-registered merchants.

Since April 1, 2017, Netbank has been charging account management fees for all current accounts and sub-accounts. As of October 1, 2019, Netbank implemented a significant fee increase for business current accounts. Since this date, a monthly basic price has been introduced for all business accounts without exception, to which item prices and other fees are added. On January 1, 2020, the account management fees for private customers were also increased significantly, customers now pay a flat rate of 4.85 € per month instead of one euro.

On October 9, 2017, the bank left the cash pool and has not issued girocards to its customers since then. All issued girocards became invalid on this date. The Girocard has been replaced by a Mastercard Debit. The ELV payments and PIN payments at point-of-sale terminals that were previously possible with the Girocard , which are normally customary in the market and are part of everyday life in Germany, are no longer available. Withdrawing money from ATMs that accept credit cards is only possible free of charge once a month with the Mastercard Debit. The maximum possible withdrawal amount is limited both by the availability limit or the credit balance of the current account and by any withdrawal limit set by the ATM operator. The Mastercard Premium, which is much more expensive in the annual price and is a classic charge card , offers up to three free monthly cash withdrawals. The online banking was also relaunched on October 9, 2017 .

Since summer 2019, netbank has been offering mobile payment services such as Apple Pay , Google Pay and Garmin Pay .

Web links

Individual evidence

  1. ^ Augsburger Aktienbank (netbank) in the bank code search of the Deutsche Bundesbank , accessed on October 26, 2017.
  2. ↑ a b c Netbank AG: Europe's first internet bank - facts and figures. Retrieved July 6, 2015 .
  3. ↑ Netbank AG: Joining the CashPool ATM network (Annual Report 2005, page 5). (PDF; 1.2 MB) Retrieved July 6, 2015 .
  4. ↑ Netbank AG: With your netbank girocard you can use around 2,900 CashPool ATMs free of charge. Retrieved July 6, 2015 .
  5. ↑ https://www.netbank.de/nb/downloads/kartentausch.pdf
  6. ↑ Netbank is now owned by Landesbank Berlin ( Memento from May 5, 2010 in the Internet Archive ). In: Netzeitung .de .
  7. ↑ netbank AG introduces chipTAN procedure . Netbank AG website, November 8, 2012.
  8. ↑ Outlook 2017: Farewell to iTAN and ChipTAN, switch to Secure-App and mobileTAN | netbank . In: netbank AG . ( netbank.de [accessed December 14, 2016]).
  9. ↑ Netbank AG: Annual Report 2014 (PDF; 956 kB) Retrieved on July 3, 2015 .
  10. ↑ AAB Annual Report 2015. (PDF) Retrieved August 16, 2017 .
  11. ↑ AAB Annual Report 2016. (PDF) Retrieved August 16, 2017 .
  12. ↑ Fee hammer at the Netbank. In: image . February 24, 2018, accessed February 24, 2018 .
  13. ↑ Augsburger Aktienbank acquires netbank. (No longer available online.) Augsburger Aktienbank, archived from the original on June 21, 2015 ; accessed on June 21, 2015 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.aab.de
  14. ↑ Augsburger Aktienbank acquires netbank AG. netbank AG, accessed on June 24, 2015 .
  15. ↑ Augsburger Aktienbank becomes owner of netbank. netbank AG, accessed on December 9, 2015 .
  16. ↑ netbank becomes part of Augsburger Aktienbank AG . netbank.de.
  17. ↑ Introduction of account management fees: Netbank anticipates "wear and tear" from 64,000 customers. In: Annual Report 2016. Augsburger Aktienbank, October 11, 2017, p. 25 , accessed on October 11, 2017 .
  18. ↑ Online banking offline: redirect problems at the Netbank. Heise, October 11, 2017, accessed on October 11, 2017 .
  19. ↑ IT disruption drives Netbank customers to despair. In: Wirtschaftswoche. October 17, 2017. Retrieved October 17, 2017 .
  20. ↑ AAB subsidiary feels customer frustration. October 19, 2017. Retrieved October 19, 2017 .
  21. ^ Augsburger Aktienbank: Annual Report 2017. April 12, 2018, accessed on April 12, 2018 .
  22. ↑ Mark Fehr: Netbank glitch: Trouble for Netbank customers is not over yet. In: Wirtschaftswoche (online). October 26, 2017. Retrieved November 1, 2017 .
  23. ↑ All about banking - New information about our transition from October 9, 2017 . Netbank.de, accessed on December 5, 2017.
  24. ↑ Netbank. In: netbank.de. Retrieved February 27, 2018 .
  25. ^ Finance scene. In: finanz.szene.de. Retrieved December 13, 2019 .
  26. ↑ Netbank current account. In: www.netbank.de. Retrieved December 16, 2019 .
  27. ↑ netbank starts a new business account offer . Netbank AG press release, October 28, 2015, accessed on March 3, 2016.
  28. ↑ Introduction of moderate fees for the netbank current account. In: netbank.de. Retrieved February 10, 2017 .
  29. ↑ Netbank: List of prices and services valid from October 1st, 2019. In: Netbank. July 26, 2019, accessed July 26, 2019 .
  30. ↑ netbank business account. Retrieved July 26, 2019 .
  31. ↑ 05/11/19: Deutsche Bank, Wirecard, Netbank, Santander / Ebury. In: FinanzSzene.de. Accessed on November 13, 2019 (German).
  32. ↑ Card exchange: As of October, netbank customers will have even better cards. In: netbank.de. Retrieved August 15, 2017 .
  33. ↑ New online banking at Netbank from October 9th, 2017. September 18, 2017. Retrieved September 18, 2017 .
  34. ↑ Apple Pay at Netbank from July 16, 2019. July 16, 2019, accessed August 22, 2019 .
  35. ↑ Google Pay and Garmin Pay at Netbank from August 22, 2019. August 22, 2019. Retrieved August 22, 2019 .

Coordinates: 53 ° 33 ′ 13.6 ″  N , 9 ° 56 ′ 24.6 ″  E