Consorsbank products, services and reviews

About Consorsbank

Consorsbank is a versatile financial institution offering a comprehensive suite of banking products, investment opportunities, and loan options.

Geography of Operations 

Consorsbank, a prominent financial institution in Germany, is part of BNP Paribas, a major international banking group. While its primary focus is on the German market, the bank’s services are also accessible to customers in other European countries through its parent company’s network. The bank offers its full suite of services online, allowing it to serve clients across Europe efficiently.

Digital Banking Consorsbank 

The bank's online platform enables customers to manage accounts, make transactions, and view financial statements with ease. It offers a comprehensive set of features including bill payments, fund transfers, and account management.
Mobile Banking: The Consorsbank app provides similar functionalities to its online platform but is optimized for mobile use. Customers can perform transactions, check balances, and access account information from their smartphones.

Credit Rating 

Consorsbank’s creditworthiness is bolstered by its association with BNP Paribas, which enjoys high credit ratings from major agencies: A+ from Standard & Poor’s, Aa3 from Moody’s, and A+ from Fitch. These ratings reflect BNP Paribas's strong financial health and stability, enhancing Consorsbank’s credibility and reliability in the financial sector.

Products and Services 

Consorsbank offers a diverse range of financial products and services tailored to both retail and investment customers:

Current Accounts:
The bank provides various checking accounts, including accounts with no monthly fees and those with additional features such as free international payments.

Savings Accounts: 
Customers can choose from high-interest savings accounts with competitive rates, including options for term deposits and flexible savings plans.

Investment Products: 
The bank offers a wide array of investment options, including stocks, bonds, ETFs, and mutual funds. It also provides experienced investors with access to advanced trading platforms.

Loans and Credit:
The bank provides personal loans, auto loans, and credit cards, with varying terms and conditions to suit different financial needs.

Insurance: 
The bank offers insurance products, including life and health insurance, through partnerships with insurance providers.

Wealth Management: 
The bank offers personalized wealth management services and financial advisory for clients with significant assets.
 

Open a savings account

Open a fixed-term deposit account
 

Deposit Protection

Deposits held with Consorsbank are protected under the German Deposit Guarantee Scheme (Einlagensicherungsfonds), which guarantees the protection of customer deposits up to €100,000 per depositor, per bank. This scheme is backed by the German government and provides reassurance to clients about the security of their savings.

Customer Reviews

Consorsbank has an overall TrustScore of 1.5 out of 5 on Trustpilot, reflecting significant customer dissatisfaction. Key issues reported by users include:

Customer Service: Complaints focus on long wait times, unresponsive support, and unresolved issues.
Account Management: Problems include delays in receiving new cards or PINs and difficulties accessing accounts.
Transaction Errors: Users report errors in transactions and stock purchases, along with slow resolution.
Despite these concerns, some clients appreciate the bank's online and mobile banking platforms for their ease of use and functionality. However, the overall sentiment from reviews on Trustpilot suggests a need for significant improvements in customer support and service reliability.

Financial Performance 

Consorsbank, like a subsidiary of BNP Paribas, plays a role in the overall financial performance of the BNP Paribas group. The group has demonstrated consistent financial stability, marked by steady revenue and profit growth. The bank's performance is aligned with BNP Paribas's broader financial success, evidenced by its expanding customer base and increasing market share within the European financial services sector.