PSD Bank Westfalen-Lippe eG products, services and reviews

About PSD Bank Westfalen-Lippe eG

PSD Bank Westfalen-Lippe eG is a regional cooperative direct bank focused on retail customers in the Westfalen-Lippe area, operating within the German Cooperative Financial Network (BVR) and the nationwide PSD Bank Group. It offers standard retail banking products including current accounts with card options, savings and term deposits, consumer loans, and mortgage financing, alongside investment and insurance solutions provided through partners from the cooperative network. The bank emphasizes remote advisory and digital access via online and mobile banking with strong customer authentication, and it participates in the cooperative ATM network in Germany; the physical branch footprint is limited compared with universal banks. Pricing, interest rates, and conditions are set out in its price and service notices and can vary by account model and usage; account opening and lending remain subject to eligibility and credit checks. As a registered cooperative (eG), customers can become members by acquiring shares, which confer voting rights; any dividend on shares depends on annual results and is not guaranteed. Deposits are protected by the legally recognized BVR Institutssicherung (up to 100,000 euros per depositor) and additionally by the cooperative financial group’s institutional protection scheme designed to prevent insolvency. The institution is subject to oversight by BaFin and the Deutsche Bundesbank. Potential users should consider the regional focus, the branch-light model, and product-specific fees and rates when comparing alternatives.