The bank was established in 1954 as a financing product of the mail-order company Quelle. Since 2006, it has been a subsidiary of Deutsche Bank, with its headquarters located in Berlin. As part of a restructuring effort in 2012, the bank divested itself of all 90 branches and has since operated exclusively as an online direct bank. By forgoing an expensive branch network, the bank has a different cost structure compared to traditional banks and can offer its products at particularly competitive rates. Currently, its product portfolio includes installment loans as well as other classic banking products such as checking accounts, credit cards, savings accounts, fixed-term deposits, and building savings contracts. The products of the bank have been repeatedly recognized by reputable testers such as Stiftung Warentest, Focus Money, or the news channel n-tv.

As a professional evaluator, we assess the bank as a reputable financial institution with a long-standing history dating back to its establishment in 1954 as a financing product of the mail-order company Quelle. Since 2006, the bank has operated as a subsidiary of Deutsche Bank, headquartered in Berlin. A significant transformation occurred in 2012 when the bank strategically divested itself of all 90 branches, transitioning to operate exclusively as an online direct bank. This restructuring decision has allowed the bank to optimize its cost structure by forgoing the expenses associated with maintaining physical branches, enabling it to offer its products at particularly competitive rates compared to traditional banks. Presently, the bank’s diverse product portfolio includes installment loans along with a range of classic banking products such as checking accounts, credit cards, savings accounts, fixed-term deposits, and building savings contracts. The quality of its offerings has been consistently recognized by reputable testers such as Stiftung Warentest, Focus Money, and the news channel n-tv. Overall, we commend the bank for its strategic evolution, cost-effective approach, and high-quality product offerings, positioning it as a noteworthy player in the financial industry.