Almost 50 percent of Germans have an account with a neobank or direct bank. However, an evaluation by the consumer advice centers shows that these are very difficult to reach in difficult situations.
Customers need to be able to contact their bank quickly if their account has been hacked, their smartphone with an integrated bank app is lost, or their credit card is stolen. However, direct banks or neo-banks – a subtype of direct banks – some of which only work via apps and without their own branch network, show weaknesses when it comes to accessibility. This was announced by the Federal Consumer Association (vzbv) after evaluating the offer from ten neobanks and direct banks.
Poor service times of the hotlines
Customers have repeatedly reported problems, so the consumer advocates tested the telephone availability in May. It was about urgent cases when there is a need for urgency – such as blocking cards and accounts or reporting unauthorized bookings. “When criminals empty an account, every minute counts to at least limit the damage,” explained Heiko Fürst from vzbv. “The telephone availability of a bank is elementary.”
However, there were major weaknesses in the financial institutions examined. Above all, the service times of the telephone hotlines at the weekend were poor. According to the analysis, consumers were not able to meet their reporting requirements at any neobank at any time over the weekend. According to consumer advocates, three neobanks did not even offer a telephone number at all.
According to this, only three out of ten direct banks could be reached by telephone. At least everyone had provided a phone number – even if it wasn’t always easy to find.
consumer advocates require constant availability
Banks must ensure that they can be reached at all times so that consumers can meet their reporting obligations in an emergency, the vzbv demanded. E-mail addresses or a contact form are not sufficient for this. Banking apps are also not suitable for this – if there are reception problems, if mobile data has been used up or the cell phone has been stolen.
According to vzbv, almost 50 percent of Germans now have a bank account with a direct bank or a neobank. If you cannot reach your institute by phone in a tricky situation, you can report this to the consumer advice center on the consumer call. The vzbv then analyzes the individual cases and can thus identify structural problems at an early stage, according to the website.