Although it is very small, Better bank is one of the well-known German money houses. Credit cards are a central part of Better bank’s offer.
The subsidiary of Gutches Bank focuses primarily on younger, private customers. It also wants to be a technical pioneer in the banking and especially credit card business with private customers.
The Better bank: Some facts about the credit card provider
Better bank employs approximately 50 people who serve around 500,000 customers. The roots of the Better bank go back to 1954. At that time she founded Quelle-Versand as “Better banks”. The orientation towards the market with private customers was given from the beginning. Nine years later, the financial institution changed its name to ” better bank”.
In 2000, the bank was the first bank to offer instant credit online loans. From then on, trust in the modern technical possibilities was an integral part of the bank’s DNA. In 2006, Better bank was sold to Gutches Bank, which founded it as “Better bank”.
Loans and checking accounts are now the focus of the financial institution’s business. However, the focus on the lending business has been greater in the past. For example, Better bank was the creator of the well-known “easy Credit” credit brand, but is no longer associated with it.
In return, the subsidiary of Gutches Bank has increasingly entered the insurance business. For example, you can take out insurance for your own home (household contents, liability, etc.) and for your vehicle at Better bank.
The target group of the Better bank
As mentioned, Better bank’s credit cards and other financial products are primarily aimed at private and younger customers. People who value cheap, simple and fast banking should be addressed. The Better bank slogans reflect this orientation: In 2011, for example, the advertisement was “The best solutions are simple!” A few years earlier, the motto was simply “Go ahead!”. “
The target group orientation is also recognizable by the orientation that the house has been pursuing since 2012. At that time it was decided that the Better bank, newly founded in 2006, should act as a pure direct bank. Accordingly, it can only be found online. The Better bank is aimed at customers who have no problems in doing their banking with a smartphone, tablet or computer.
Technical solutions make credit cards more secure
Better bank relies on technical solutions not only so that you, the customer, can contact the direct financial institution. Banking transactions should also become safer and less complicated.
For example, Better bank uses the 3D Secure security procedure for your credit cards. It is a procedure in which transactions must be confirmed using an online password and an additional mobile TAN. It has proven to be particularly reliable, but requires customers to use these devices without problems. So-called NFC chips are also used in the cards. They enable contactless payments up to certain sums.
“Free” as a trademark of Better bank’s credit card offer
The content of all Better bank offers is based on the “free” factor. For example, the current account is advertised with the slogan “unconditionally free”. But loans should also be as cheap as possible and get along without additional costs. In return, benefits such as residual debt insurance are not offered. This will appeal to younger customers for whom it is important to get cheap and free loans.
Better bank has not excluded its credit cards from this strategy. For example, the MasterCard waives an annual fee. As a customer, you should also be able to pay or withdraw money in as many places as possible without additional fees.