Financial institution shuts down, leaving millions of account holders without access
Deutsche Bank to Phase Out SMS-TAN and Introduce photoTAN by August 25
Deutsche Bank has announced a significant change in its online banking security procedures, with the final activation of the photoTAN required by August 21, 2025. This transition aims to enhance security and align with regulatory requirements for strong customer authentication under PSD2.
From August 25, customers will no longer be able to use the outdated mobileTAN procedure, which sends transaction codes via SMS. This change is due to security concerns, as the SMS-TAN procedure has been a target for attacks in the past.
In addition, Deutsche Bank is discontinuing the separate credit card app "MeineKarte," and its functions will be integrated into the central banking app. Digital cash register receipts stored in the "MeineKarte" app should be secured by latest August 22.
Customers who miss the August 21 activation deadline for the photoTAN will lose online access from August 25. This means they will be unable to access their accounts for transfers, balance checks, and app usage.
To request an activation letter for the photoTAN, customers must do so latest by August 15. The photoTAN can be used by scanning a graphic or through a push confirmation via app, offering a more secure alternative to the SMS-TAN procedure.
Deutsche Bank is not the first to react to security concerns and phase out the SMS-TAN procedure. Other banks have already made similar changes to improve their customers' online banking security.
It is important to note that during this transition period, customers should not click on any links in emails, as a new wave of phishing attacks is expected. Criminals may try to exploit the transition by sending fake emails with alleged TAN activation requests.
Affected customers have been notified about the transition and the need to activate a new security procedure. Whether customers will switch to "BestSign," another security procedure offered by Deutsche Bank from August 25, remains to be seen.
The transition to a new online banking system by a major German bank is scheduled to begin on August 25, 2025. Customers are encouraged to consult Deutsche Bank's official communication channels for the most accurate and current deadline for activating the photoTAN or other secure TAN procedures.
- The cybersecurity measures in the banking-and-insurance industry are strengthening, as Deutsche Bank, along with other banks, is phasing out the SMS-TAN procedure due to security concerns.
- The introduction of technology, such as the photoTAN, aims to enhance finance sector security, following regulatory requirements for strong customer authentication under PSD2.
- The consumer banking industry is undergoing a transformation, with Deutsche Bank implementing changes in its online banking security procedures, which includes the discontinuation of the mobileTAN and the separate credit card app "MeineKarte."
