Hamburg Direct Bank
Experiences, reviews and information about the provider
(product costs may apply)
Details
Pros
- German deposit protection, plus the BdB deposit protection fund
- Free account management and free account opening
- Fixed-term deposits with a very long range of terms up to ten years
- Direct contract with no interest platform in between
Cons
- Very young brand with no long track record in retail banking
- Minimum investment on fixed-term deposits excludes very small amounts
- No current account, no card, no securities business
- Online-only operation with no branches
Fact sheet: Hamburg Direct Bank
| Company name | Hamburg Direct Bank |
| Founded | 2026 |
| Headquarters | Hamburg |
| Country | 🇩🇪 Germany |
| BaFin-regulated | Yes |
| Deposit protection | €100,000 |
| Type | direktbank |
| Website | hamburg-direct-bank.de * |
About Hamburg Direct Bank
Hamburg Direct Bank is not an independent bank but the digital brand of Hamburg Commercial Bank AG (HCOB), based in Hamburg, launched in 2026. HCOB is the former HSH Nordbank, renamed after its privatisation in 2019, and as a commercial bank it concentrates mainly on real estate, ship and project financing; with the direct-bank brand it opens its deposit business to private customers for the first time. The offer comprises a variable-rate call money account (Tagesgeld, instant-access savings), fixed-term deposits (Festgeld) with terms from a few months up to ten years, and accounts for minors, each with no account fee and purely online. Because the legal entity is a German bank, statutory German deposit protection applies through the Entschädigungseinrichtung deutscher Banken (EdB, the German statutory compensation scheme) up to €100,000, plus the voluntary deposit protection fund of the Association of German Banks (BdB). The offer is interesting for safety-oriented savers looking for interest without moving to another EU country and without an interest platform.
Special features
- Digital brand of Hamburg Commercial Bank AG, the former HSH Nordbank
- HCOB's first retail deposit business ever
- Separate accounts for minors on offer
- Deposits serve to refinance the parent company's corporate business
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