FiNBOX: the financial inbox within online banking

From today, ABN AMRO, ING and Rabobank customers can easily receive, store and pay bills within their own online banking environment.

This new financial inbox within online banking is called FiNBOX. A nationwide media campaign starts today to introduce it to customers. Boele Staal, chair of the Dutch Banking Association, says: “FiNBOX is a digital letterbox within the familiar online banking environment. In addition to paying bills and Acceptgiro forms, customers can use it to receive other financial correspondence, such as payslips, pension statements and policy documents.” Every document received through FiNBOX is stored for seven years and remains accessible through online banking.

Receive, pay and store

Some eleven million people in the Netherlands use online banking and increasingly use it to pay their bills. More and more businesses, public authorities and institutions also send correspondence electronically. FiNBOX brings these services together in a simple way. Customers receive financial correspondence in one place within their own online banking environment and can also pay bills. This is fast and easy because all the details have already been entered. A notification in online banking alerts the customer when new correspondence is ready, providing convenience and a clear overview. The organisation that sent the correspondence stores the received documents in FiNBOX for seven years. Customers can also make and save a copy.

Registration

Customers can easily register for FiNBOX through their own bank’s online banking service. They then decide which organisations may send financial correspondence to their FiNBOX. Alternatively, customers can register through the company from which they want to receive correspondence. A list of participating organisations is available at www.finbox.nl. Alongside raising awareness of FiNBOX, the campaign aims to increase the number of participating organisations substantially over the coming years.

Security

Participating organisations will soon approach their existing customers and invite them to switch to FiNBOX. An organisation will never ask customers for their online banking login details, only for their bank account number. This is sufficient to send correspondence to the customer. Organisations cannot carry out transactions on an account using only the account number.

Service providers

Organisations wishing to send financial correspondence to consumers can use billing service providers, which manage the data traffic to the bank. Current providers include Bluem, ING Invoice Services and PostNL.

FiNBOX is a further development of services previously offered under the names Digitale Nota and Notabox. The website www.viamijnbank.nl has been replaced by www.finbox.nl.

The www.finbox.nl website provides more information and a demonstration of all FiNBOX features. It also lists the participating companies.

Dutch Banking Association

The Dutch Banking Association was formed in 1989 from several different bodies and represents the shared interests of Dutch banks. Almost all banks operating in the Netherlands, including branches of foreign banks, are members. The Association also serves as a knowledge and information centre for its members and interested parties. Banks work together to maintain trust. The Banking Code, which came into force on 1 January 2010 and applies to all banks in the Netherlands, puts the customer first. Diversity in the banking sector and the competitiveness of Dutch banks are also important principles in the Association’s policy.