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. Precious metals, particularly the noble metals, are more corrosion resistant and less chemically reactive than most elements. They are usual ...

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

Frankfurt Frankfurt am Main () is the most populous city in the States of Germany, German state of Hesse. Its 773,068 inhabitants as of 2022 make it the List of cities in Germany by population, fifth-most populous city in Germany. Located in the forela ...

am Main. 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 700 cooperative banks and their around 7,200 branch offices. Within that Bundesverband der Deutschen Volksbanken und Raiffeisenbanken, w ...

and part of the cooperative financial group.

History

In 1996, Reisebank AG was created by

outsourcing Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another ...

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 (Comparison of American and British English, American English) is a business where people can exchange one currency for another. Nomenclature Original ...

of DVB, which were mainly at larger stations, were converted to bank branches. As part of the restructuring of 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 re ...

that it performs as an agent of

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

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 tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt ( ...

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 An identity document (abbreviated as ID) is a documentation, document proving a person's Identity (social science), identity. If the identity document is a plastic card it is called an ''identity card'' (abbreviated as ''IC'' or ''ID card''). ...

passport A passport is an official travel document issued by a government that certifies a person's identity and nationality for international travel. A passport allows its bearer to enter and temporarily reside in a foreign country, access local aid ...

. 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 American Express Company or Amex is an American bank holding company and multinational financial services corporation that specializes in payment card industry, payment cards. It is headquartered at 200 Vesey Street, also known as American Expr ...

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