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MONEY

Is it a scam? Why Netflix in Austria is offering many customers refunds

Netflix clients who had a subscription in Austria between 2019 and 2020 have a claim to a refund of up to €30. Here's what you need to know.

Published: 22 May 2024 11:19 CEST
Is it a scam? Why Netflix in Austria is offering many customers refunds
Image by Tumisu from Pixabay

If you were one of the people in Austria who received an email from Netflix asking you to fill in a form to receive a certain refund amount, don’t worry—the claim is real. 

You can check the official notice on the Netflix website HERE. You can also find the link to the online refund form in case you want to be extra safe and not open any links emailed to you.

What happened?

Austria’s Chamber of Labor (AK), which was called in by the AK Upper Austria, sued Netflix regarding price changes in 2019 and 2020, the chamber explained.

As Netflix was interested in an amicable settlement of this dispute, the company proposed offering affected consumers a refund of membership fees in the form of a lump sum of €20 or €30, depending on whether consumers were affected by one or both price increases. 

The AK agreed to this proposal so that further lengthy court proceedings could be avoided, it said.

READ ALSO: 8 Austrian TV series to watch to improve your (Austrian) German

All consumers who accept this amicable settlement offer will receive a quick refund without any bureaucratic hassle or years of waiting. They don’t have to take any proactive steps; they just have to keep an eye out for the Netflix refund offer in their mailbox. The email was sent on the morning of May 22nd to the email account associated with your Netflix account.

You should receive the email (and refund) even if you no longer subscribe to the streaming service.

How can I get the money?

If you’re affected, you’ll receive an email from Netflix with a personal code and the link to a form that should be filled out by August 14th. If you prefer not to click on any links emailed to you (this Netflix refund seems like a perfect phishing opportunity for fraudsters, so watch out for any fake emails you might receive), you can find the notice on Netflix’s website HERE.

The page will have the link for the online refund form or you can click HERE and go straight to the KCC form.

The money should be credited to the bank account you provide within 30 days of the settlement period that ends on August 14th. The form also contains a waiver of further legal claims regarding the matter. 

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For members

PROPERTY

Why are young people in Austria so pessimistic about homeownership?

Most young people in Austria do not believe they can afford to buy their own home with their income. Here is why.

Published: 25 June 2024 14:05 CEST
Why are young people in Austria so pessimistic about homeownership?

Only 39 percent of young professionals think they can afford their own home with their income, according to a new GPA trade union survey

Around 1000 Austrians aged 16 to 29 participated in the survey, which shows that the expectation of being able to buy property without inheritance or help decreases with age.

Austrians aged 25 to 29 are the most pessimistic

The survey shows that as life and work experience increase, the expectation of being able to buy a home from one’s salary decreases.

Younger Austrians up to 24 years old are more likely to believe they can achieve this (44 percent) compared to Austrians between 25 and 29 years old (30 percent).

The difference becomes even more significant between those still in education (59 percent) and those who are working (33 percent).

Expectations are consistent across both low- and high-income groups.

READ MORE: How can I move into affordable cooperative housing in Vienna?

Young women least satisfied with salary

More than a third of young Austrians find that they have a salary that is too low.

In the survey, 43 percent of women expressed not being satisfied with their earnings, compared to 36 percent of men.

The survey also shows that the participants prioritise choosing educational fields where it is easy to find a job after graduation (86 percent) and where they can experience good earning prospects (84 ).

High prices, rates and strict lending criteria

One of the biggest barriers to owning a home in Austria is the sky-high property prices. Over the years, property prices have increased, making it more difficult for people with an average income to afford a place of their own. 

Another factor making owning a home challenging is the increase in interest rates in recent years. As a result, both existing variable-rate loans and newly obtained fixed-rate loans have become more expensive.

Analysts expect the European Central Bank to cut interest rates by around 0.5 percent in the near future, but according to durchblicker’s calculations, this would initially only create a little relief for loan takers, where instead of around 60 percent, 55 percent of monthly household net income would be needed for debt repayment.

Difficulties obtaining a mortgage

Another issue preventing many from realising their dream to buy a home is the difficulty obtaining a mortgage.

Since July 2022, stricter rules have applied in Austria for the granting of property loans. Loan applicants must have a deposit worth at least 20 percent of the value of their property to be granted a loan.

This means that young professionals need to work for many years and earn a high income to have a chance of being accepted.

READ ALSO: Why buying property in Austria remains unaffordable for most

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