Waldecker Bank eG products, services and reviews

About Waldecker Bank eG

Waldecker Bank eG is a regional cooperative bank in the Volksbanken Raiffeisenbanken network, serving retail and business clients in and around the Waldeck-Frankenberg area of Hesse. Its product set follows the standard cooperative model: current accounts with tiered pricing, savings and term deposits, consumer loans, overdrafts, and mortgages, alongside securities and fund solutions distributed via group partners (e.g., Union Investment) and insurance through R+V; building society contracts are available via Schwäbisch Hall. Business banking includes operating accounts, payment services and terminals via VR Payment, financing (including access to KfW-backed programs), and EBICS connectivity for treasury workflows. Payments are supported via girocard and credit cards (Mastercard/Visa) with access to the nationwide cooperative ATM network; cash withdrawals at network ATMs are typically included, while third‑party ATM use and foreign currency transactions incur fees. The bank offers online banking and the VR Banking App with strong customer authentication (e.g., SecureGo plus TAN), e-documents, and multi-banking; common mobile wallets such as Apple Pay and Google Pay are generally available within the cooperative network. Pricing depends on the chosen account model and channel: digital SEPA transfers are often included in monthly packages, while branch transactions, paper statements, and card issuance/renewals may be charged; overdraft rates are variable and usually higher than installment loan rates. Deposits are protected by the BVR Institutssicherung (statutory coverage up to 100,000 EUR per depositor) and the cooperative institutional protection scheme, which is designed to prevent bank insolvency; the bank is regulated by BaFin and the Deutsche Bundesbank. Membership via cooperative shares is typically optional and may pay a dividend, which is not guaranteed. Account opening requires identification and credit checks (e.g., SCHUFA); services are primarily offered in German, and onboarding for non-residents can be limited. The branch footprint is local, with support available via phone, secure messaging, and appointments; product availability, rates, and fees are subject to change.