Raiffeisenbank Flachsmeer eG products, services and reviews

About Raiffeisenbank Flachsmeer eG

Raiffeisenbank Flachsmeer eG is a regional cooperative bank based in the Flachsmeer area of Westoverledingen (district of Leer, Lower Saxony) and is part of the Genossenschaftliche FinanzGruppe Volksbanken Raiffeisenbanken. It operates on a member-owned model in which customers can purchase cooperative shares that confer voting rights; any dividend on shares is decided annually and is not guaranteed. The bank focuses on retail and small-business clients in its local market, offering current accounts, savings and term deposits, consumer loans and overdrafts, residential mortgages, and commercial and agricultural financing. Securities custody and investment funds are typically provided through group partners such as Union Investment, while insurance products are available via R+V; building-savings contracts are commonly arranged through Bausparkasse Schwäbisch Hall. Payment services include SEPA transfers and standing orders, girocard and, depending on the product, Debit Mastercard or Visa Debit, with cash withdrawals available at the nationwide Volksbanken Raiffeisenbanken ATM network; fees may apply outside the network and for certain transaction types. Digital banking is provided via the VR Banking app and online banking portal with PSD2-compliant two-factor authentication; mobile wallet support may be available depending on card and issuer. Business services include cash management, POS solutions via VR Payment, and access to public development-bank programs such as KfW where eligibility applies. Accounts generally carry monthly maintenance fees and separate charges for cards, paper statements, and manual services; pricing varies by account model. Identification for onboarding follows German AML requirements (e.g., video identification or PostIdent). Deposits are covered by the BVR Institutssicherung (statutory protection up to 100,000 euros per eligible depositor) and the additional institutional protection scheme of the BVR, designed to prevent bank failures. The bank is supervised by BaFin and the Deutsche Bundesbank, and product availability is typically limited to customers in its regional catchment area.