Direct bank

Direct banks are banks that offer banking transactions without their own branch network. They are subject to the same prudential rules as branch banks.

Organizationally, a direct bank is defined as the sum of all systematic activities to the sale of banking services through direct channels of communication. Conventionally, this is the post, in recent times there is the Internet. Due to technical progress now have many lending institutions also have specialized divisions that work like an online bank.

Germany

In April 2007, recorded direct banks 9.8 million customers.

Most of them are in direct banks to subsidiaries of financial groups. The largest pure direct banks in Germany are ( in alphabetical order ):

A direct bank for exchange transactions is the Sparkassen Broker, an institute of the savings bank organization, the more than 200 institutions are connected.

Austria

Exist in Austria, among others ( in alphabetical order):

  • Auto Bank AG
  • Bankdirekt.at ( subsidiary of Raiffeisen Landesbank Upper Austria )
  • Bankhaus Denzel
  • Direktanlage.at ( daughter of DAB bank ), with a focus on discount brokerage and 60,000 customers
  • Easybank ( subsidiary of BAWAG PSK ) with approximately 390,000 accounts
  • Generalibank.at ( Bank of the Generali Group )
  • ING -DiBa Direct Bank Austria ( ING- DiBa branch ), with approximately 500,000 customers
  • Direct VTB Bank, a subsidiary of Russia's VTB
  • Livebank.at ( subsidiary of Volksbank AG)

Distribution channels

First, the distribution channels postal mail, telephone (call center ) and fax machines are used. Increasingly important distribution channels are the Internet and independent financial service providers. Another form of direct sales followed the Fortis Bank in Germany, which had no branches, but their customer service representative acted like a normal sales in corporate business.

On the Internet, direct banks of the most important advertising drivers. In order despite the absence of its own branch network can offer personal consulting services to the sales of products, many direct banks work together with independent financial service providers. These sell the products of the direct bank against commission.

To perform open an account quickly and independent of the office of the Bank, the PostIdent was introduced so that the new customer does not have to appear in the bank personally.

Products

The product range of direct banks can be comprehensive, or be limited to certain product groups. In general it comprises:

  • Current accounts
  • Securities trading ( brokerage)
  • Investment (in the form of savings accounts, fixed deposits and savings deposits)
  • Installment loans
  • Real Estate Financing

Evidence

  • Credit institution type
  • E-Banking
Rabobank Fortis (finance) Giro Time deposit
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