DenizBank
Experiences, reviews and information about the provider
(product costs may apply)
Details
Pros
- Low minimum investment on call money
- Call money, fixed-term deposits and savings plan from a single source
- German-language branch in Frankfurt am Main
- A fixture of German interest rate comparisons for years
Cons
- No German deposit protection, Einlagensicherung AUSTRIA is responsible
- No current account and no securities business for German retail customers
- Interest rates for existing customers often less attractive than new-customer offers
- A parent company outside the EU may be an issue for safety-conscious investors
Fact sheet: DenizBank
| Company name | DenizBank |
| Founded | 1996 |
| Headquarters | Wien, Zweigniederlassung Frankfurt am Main |
| Country | 🇦🇹 Austria |
| BaFin-regulated | No |
| Deposit protection | €100,000 |
| Type | direktbank |
| Website | denizbank.de * |
About DenizBank
DenizBank AG was founded in 1996 and is based in Vienna; it belongs to the Turkish DenizBank group, which has been part of Emirates NBD, based in Dubai, since 2019. The German business runs through the Frankfurt am Main branch, which in the retail segment mainly offers call money (Tagesgeld), fixed-term deposits (Festgeld) and a savings plan. Because the legal entity is the Austrian bank, it is subject to supervision by the Austrian Financial Market Authority (FMA) together with the Oesterreichische Nationalbank and the ECB, not BaFin (the German financial regulator). Deposit protection is provided by the Austrian deposit guarantee scheme Einlagensicherung AUSTRIA, which covers €100,000 per customer and bank; the German compensation scheme is not responsible. The offer is aimed at savers who want to get started with small amounts.
Special features
- Part of Emirates NBD (Dubai) via the DenizBank group since 2019
- Supervision by the Austrian FMA instead of BaFin
- Protection through Einlagensicherung AUSTRIA GmbH
- German business as a branch under § 53b KWG (the German Banking Act provision for EU branches)
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