GENO BANK ESSEN eG products, services and reviews

About GENO BANK ESSEN eG

GENO BANK ESSEN eG is a regional cooperative bank based in Essen and operating primarily in the surrounding Ruhr area. As a member of the Volksbanken Raiffeisenbanken cooperative financial network with DZ BANK as central institution, it offers retail and SME banking including current accounts with monthly fees, debit cards (typically girocard and, depending on issuance, Debit Mastercard), credit cards via cooperative partners, and cash withdrawals at the BankCard ServiceNetz ATMs used by Volksbanken Raiffeisenbanken. Standard SEPA transfers, standing orders, and direct debits are supported; international payments are processed via SWIFT and may incur fees; mobile wallet support (such as Apple Pay and Google Pay) depends on card type and configuration. Lending covers overdrafts, consumer and auto loans, real estate financing, and corporate working capital and investment loans, with access to public development programs (e.g., KfW/NRW.BANK) where eligibility criteria are met. Savings and investments include savings accounts, time deposits, custody accounts, brokerage, and fund solutions via Union Investment; building society contracts are typically available through Bausparkasse Schwäbisch Hall, and insurance products via R+V. Digital services comprise online banking and the VR Banking app with PSD2-compliant two-factor authentication (app-based TAN or chipTAN), electronic postbox, and video identification for many products; advisory is delivered in branches, by phone, and increasingly via video, with a local branch and self-service network subject to ongoing adjustments. The bank operates under German banking supervision (BaFin and Deutsche Bundesbank). Deposits are protected by the statutory €100,000 per depositor limit and by the BVR institutional protection scheme, which aims to prevent member insolvency. As a registered cooperative (eG), customers can become members by subscribing cooperative shares; voting rights are exercised in the representatives’ assembly, and member dividends, if any, depend on annual results and decisions of governing bodies. Conditions, fees, and interest rates are set out in the Preis- und Leistungsverzeichnis and can change; product availability and features may vary by customer segment and channel.