ReiseBank AG is a bank specializing in foreign currency dealing,

precious metals Precious metals are rare, naturally occurring metallic chemical elements of high economic value. Chemically, the precious metals tend to be less reactive than most elements (see noble metal). They are usually ductile and have a high lu ...

and travel payment business (including traveler's checks), which is headquartered in

Frankfurt Frankfurt, officially Frankfurt am Main (; Hessian: , " Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on it ...

Main Main may refer to: Geography * Main River (disambiguation) **Most commonly the Main (river) in Germany * Main, Iran, a village in Fars Province *"Spanish Main", the Caribbean coasts of mainland Spanish territories in the 16th and 17th centuries ...

. It is a wholly owned subsidiary of

DZ Bank DZ Bank AG () is the second largest bank in Germany by asset size and the central institution for around 800 cooperative banks and their around 8,500 branch offices. Within the German Cooperative Financial Group, which is one of Germany's la ...

and part of the cooperative financial group.

History

In 1996, Reisebank AG was created by outsourcing the foreign currency dealing business from ''Deutsche Verkehrs-Kredit-Bank'' (DVB). The

bureau de change A bureau de change (plural bureaux de change, both ) (British English) or currency exchange (American English) is a business where people can exchange one currency for another. Nomenclature Although originally French, the term "bureau de chang ...

of DVB, which were mainly at larger stations, were converted to bank branches. As part of the restructuring of ''Deutsche Verkehrs-Kredit-Bank'' (DVB) and its subsidiaries, Reisebank was sold to DZ Bank as of 1 January 2004, and thus integrated into the cooperative financial network with over 1.200 cooperative banks. As of 31 December 2014, the bank had 93 offices and 300 own ATMs in airports, train stations, large bus terminals, border crossings, and downtown locations.

Business

In addition to its own business, Reisebank also supplies currencies, precious metals and traveler's checks for commercial banks, especially for cooperative banks. The international

cash transfers A cash transfer is a direct transfer payment of money to an eligible person. Cash transfers are either unconditional cash transfers or conditional cash transfers. They may be provided by organisations funded by private donors, or a local or reg ...

that it performs as an agent of

Western Union The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado. Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company cha ...

and the operation of ATMs are other important business areas. In 2007, consideration was given to offering ATM servicing to others. Since 2005, the bank operates toll stations for Toll Collect. Thus, Reisebank is not a classic bank with

lending In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that d ...

and deposit business, but a special

service provider A service provider (SP) is an organization that provides services, such as consulting, legal, real estate, communications, storage, and processing services, to other organizations. Although a service provider can be a sub-unit of the organization t ...

among banks. Since February 2012, Reisebank has also offered its own rechargeable MasterCard, which can be purchased and used directly at any branch office on presentation of an identity document or passport. Since January 2014, Reisebank offers precious metals, travel money and traveler's checks in its online shop. Since the beginning of 2016, only the purchase of traveler's checks from American Express is possible, the sale of these has been discontinued. Reisebank is a partner of

References

External links

Official Website
{{Authority control Banks based in Frankfurt Bullion dealers Corporate finance German companies established in 1996 Banks established in 1996 Tourism in Germany