GEFA review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
GEFA suits savers sitting on a large sum in Germany who want daily access in full and cover of EU DGS up to EUR 100,000. The catch is the entry cost: a minimum deposit of €10,000, with a variable rate of 2.4% as the trade.
Key facts
- Best for
- A large, always-accessible German deposit with guarantee cover.
- Headline rate
- 2.4%↗
- Rate type
- Variable↗
- Minimum deposit
- €10,000↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Access terms
- Daily availability in full, deposits and internal transfers any time, no fixed term, interest credited on 31.12.↗
- Account kind
- Easy access↗
- Legal entity
- GEFA BANK GmbH↗
- Headquarters
- Germany↗
- Founded
- 1949↗
- Support channels
- Email, Phone, Help-centre↗
- Official website
- gefa-bank.de
Facts checked September 26, 2026, 3 sources
Pros and cons
Pros
- Deposits carry EU DGS up to EUR 100,000 cover from a named protection scheme.
- The full balance is available daily, with deposits and internal transfers at any time and no fixed term.
- Support runs on email, phone and help centre.
Cons
- A minimum deposit of €10,000 keeps it out of reach for anyone saving in smaller sums.
- The rate of 2.4% sits below the savings-account median of 3.08%.
- Interest is credited once a year at year end, so a full year passes before interest reaches the account.
Who it suits
- Savers in Germany with a large sum to park and a need for same-day access to all of it.
- Readers who put deposit cover ahead of the advertised rate.
- Customers comfortable with support by email, phone and help centre.
Who should look elsewhere
- PayPal Colombia, at 3.3% on headline rate, for anyone choosing purely on rate.
- Plazo ES, at 24.19% on headline rate, where the number outranks access and cover.
- AXI Card Tarjeta y Credito, at 21.59% on headline rate, which sits far above GEFA's 2.4%.
Deposit protection
Deposits are covered by EU DGS up to EUR 100,000, so the guarantee sits with a protection scheme rather than with the bank alone. The account is provided by GEFA BANK GmbH, and the European Central Bank is named as the regulator. For an easy-access account built to hold cash overnight, that ceiling is the figure most readers check first.
How GEFA compares
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Where GEFA is available
- Available
- Germany
- Licence in Germany
- European Central Bank, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does GEFA pay on its easy-access savings account?+
GEFA pays a rate of 2.4%, and the rate type is variable, so the figure can move instead of being locked in. There is no fixed term, and interest is credited once a year at year end.
Who runs GEFA and which regulator watches it?+
The account is provided by GEFA BANK GmbH, a bank registered in Germany, and the European Central Bank is the named regulator. The bank dates back to 1949, so the operating history is long rather than recent.
How much do I have to deposit to open the account?+
The minimum deposit is €10,000, well above the €0.17 typical of the savings accounts listed here. That entry figure is the practical barrier for anyone starting from a small balance rather than a lump sum.
What happens to my money if the bank fails?+
Deposits are covered by EU DGS up to EUR 100,000, so the guarantee sits with a protection scheme rather than the bank alone. The European Central Bank is the named regulator, and the provider is GEFA BANK GmbH.
Can I get my money out the same day?+
Yes. It is an easy access account: the full balance is available daily, deposits and internal transfers can be made at any time, and there is no fixed term to run out. That access comes with deposit cover of EU DGS up to EUR 100,000.
How do I get help from GEFA?+
Support runs on email, phone and help centre, so phone, email and a help centre are the stated routes. The bank is German, and a call or an email is the practical path for questions about the account and its terms.
Is GEFA competitive on interest?+
Not on rate. The figure of 2.4% sits below the savings-account median of 3.08%, and GEFA ranks 295 of 473 brands on headline rate. Its case rests on access and cover rather than the number.
Who is a GEFA savings account for?+
It fits savers in Germany with a sizeable sum to park, since the minimum deposit is €10,000 and the whole balance stays available daily. It suits readers who put deposit cover ahead of rate. A first small deposit is a poor starting point.
Sources
- gefa-bank.de/faq checked September 26, 2026
Backs: Founded, Support channels
“GEFA BANK was founded by Deutsche Bank in 1949”
- gefa-bank.de/impressum checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Licences
“GEFA BANK GmbH, Robert-Daum-Platz 1, 42117 Wuppertal”
- gefa-bank.de/produkt/tagesgeld checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“You can access your capital in full daily”
Compiled from 3 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.