PSD Bank review 2026
How good is PSD Bank really?
BaFin-regulated 63/100 points
kosten.org editorial team
Last updated: 2026-03-13
63/100
Points
Based on published terms and features
The PSD Banken are 14 independent cooperative direct banks that are often regarded as an insider tip on the German banking market. They frequently offer free current accounts with access to the cooperative BankCard ServiceNetz. As terms vary depending on the regional PSD Bank, we rate the average.
Highlights of our PSD Bank review
- PSD Bank scores 68/100 points in our rating – a solid insider tip.
- Often a free current account with no conditions.
- 17,000+ cash machines via the BankCard ServiceNetz.
- Cooperative deposit protection: deposits protected without limit.
Table of contents
1 Account management
17/25
Points
As direct banks, many PSD Banken offer a free current account with no conditions – a clear advantage over traditional branch banks. The overdraft rate is typically 8–11% a year and is therefore moderate. Terms vary regionally, which makes comparison harder.
Scoring (17/25): Often a free account with a fair overdraft rate. Deductions for regional differences.
2 Card offer
8/15
Points
Girocard included. Credit cards optional, usually chargeable (about €20–30 a year). Apple Pay is supported, Google Pay depending on the PSD Bank. The card offer is solid, but not outstanding.
Scoring (8/15): Girocard included, credit card extra. Not all PSD Banken offer Google Pay.
3 Cash withdrawals
14/20
Points
Free withdrawals at more than 17,000 cash machines in the BankCard ServiceNetz. This covers all Volksbanken, Raiffeisenbanken, Sparda-Banken and PSD Banken. Cash can be deposited at some PSD locations, but not everywhere.
Scoring (14/20): Outstanding cash machine network. Deductions for limited cash deposits.
4 Paying
5/8
Points
Apple Pay is supported. Google Pay depending on the PSD Bank. Contactless payment with the girocard is possible. Foreign-currency fees in the customary market range (1.5–2.0%).
Scoring (5/8): Standard payment functions available. Google Pay not everywhere.
5 Interest & saving
3/7
Points
No interest on balances in the current account. Call money (instant-access savings) and fixed-term deposit offers are available with regionally varying interest rates. Some PSD Banken offer attractive new-customer promotions.
Scoring (3/7): No interest on the current account, but passable savings products depending on the region.
6 Banking app & features
5/10
Points
Most PSD Banken use the VR-BankingApp with a solid 4.2 stars. Multibanking is available. Modern features such as sub-accounts or budgeting are missing. The app is functional, but not innovative.
Scoring (5/10): Solid app basis via the VR-BankingApp. No feature innovation.
7 Customer service
5/8
Points
As direct banks, support is primarily by phone and email. Some PSD Banken have individual advice centres. Availability is good, but personal advice is limited.
Scoring (5/8): Good phone support, but hardly any branch presence.
8 Security & extras
6/7
Points
BaFin-regulated with the cooperative institutional protection scheme (Institutssicherung), which protects deposits practically without limit. That is one of the strongest safety nets on the German market.
Scoring (6/7): Maximum security through institutional protection and the cooperative model.
Pros & cons at a glance
Pros
- Often a free current account
- 17,000+ cash machines in the ServiceNetz
- Unlimited cooperative deposit protection
- Fair overdraft rates
Cons
- Regional restrictions on opening an account
- Few physical locations
- Terms vary greatly
- Low brand awareness
Conclusion: PSD Bank review
63/100
Good (2.9)
PSD Bank scores 68 out of 100 points and is an attractive insider tip for online banking fans who value the security of a cooperative bank. The BankCard ServiceNetz is a strong plus. The regional limitation and varying terms are the main drawbacks.
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