PSD Bank Braunschweig eG products, services and reviews

About PSD Bank Braunschweig eG

PSD Bank Braunschweig eG is a cooperative retail bank within the PSD banking group, based in Braunschweig and oriented toward private customers in its defined regional market. The bank offers standard retail products including current accounts, savings and term deposits, payment cards, online and mobile banking with two-factor authentication under PSD2, and SEPA payments; it also distributes consumer loans and mortgage financing, typically alongside cooperative group partners for building society savings, investments, and insurance. Account opening can be completed via VideoIdent or PostIdent, and service is delivered primarily through digital channels and telephone, supplemented by a limited number of advisory locations. Cash access is provided via the nationwide ATM network of Volksbanken Raiffeisenbanken; withdrawals at other networks and abroad may incur fees depending on card type and tariff. Products are usually available to individuals residing or working within the bank’s service area, and—consistent with the cooperative model—customers may become members by acquiring shares, with any dividend dependent on the cooperative’s decision and not guaranteed; membership is not required for basic banking services. Pricing follows an account-package model with monthly fees and condition-based waivers, and interest conditions on deposits and loans are published in the bank’s price and service schedule. Credit decisions generally involve SCHUFA checks. As a member of the BVR cooperative financial network, deposits are protected by the statutory guarantee up to 100,000 euros per depositor and the institutional protection scheme of the cooperative sector. The bank’s focus is on private clients, with business banking not a core area, and its regional eligibility rules and limited branch presence should be considered by prospective customers.