PSD Bank

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PSD Bank is a German group of 14 independent cooperative banks based in Bonn. They serve private retail customers and work mainly in their regions, combining regional operations with affiliated banks. Customers can use online banking, phone, email, mail or fax, or visit local branches. The banks focus on private individuals and do not serve self-employed people or businesses. The name PSD comes from the old Post-Spar- und Darlehensverein (post, savings and loan association), which were originally run for postal clerks and focused on their local areas. Each PSD bank is a listed cooperative and the 14 banks operate together as the PSD Bankengruppe. They belong to the Verband der PSD Banken e. V. in Bonn and are covered by the protection scheme of the National Association of German Cooperative Banks (BVR).

History in brief: The idea started in 1872 when the imperial post office encouraged savings and advancement associations for postal workers. Over time these organizations grew, and in 1903 the Vorschussvereine became Post-Spar- und Darlehensvereine. After German reunification they expanded beyond postal employees. Around 1998–1999 all associations began offering universal banking services. Many changed their legal form to listed cooperatives and adopted the PSD Bank name. Since then, mergers reduced the group to 14 banks. Fiducia & GAD IT AG serves as the shared data center and IT provider. In 2009 PSD banks partnered with Hypoport for process optimization and joint products. In 2015 they introduced video authentication, and PSD Bank Niederbayern-Oberpfalz eG left the group and the association.