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Targo Bank

4.7 / 10 Overall Score

Website: https://www.targobank.de/
Jurisdiction: Germany
Operating Since: 5-10 years
Regulatory Status: N/A

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Regulation
Business
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Software

Company & Contact

Legal Name: Targo Bank
Phone: 0211-900 20 111
Email: —
Address: —

License Info: —

In-Depth Broker Review

What’s inside: Company overview, account types, and deposit & withdrawal guidance.

Company Profile
Account Types
Deposit & Withdrawal

Broker Details

# Targo Bank Company Overview

Targo Bank company operates as a banking institution based in Germany, providing a range of financial services that encompass private, business, and corporate banking. Founded in 1926, Targo Bank has evolved through several name changes and ownership structures, ultimately becoming part of the French cooperative banking group, Crédit Mutuel Alliance Fédérale, in 2008. The bank is headquartered in Düsseldorf, Germany, and has established a significant presence with approximately 340 branches across over 250 cities in the country.

Targo Bank's primary operations include offering accounts, cards, savings, investments, loans, and insurance products to individual and corporate clients. The bank aims to leverage modern technology to enhance customer convenience through its digital banking services.

# Corporate Development

Targo Bank has undergone notable transformations throughout its history, including its original establishment as Kunden-Kredit-Bank in 1926 and subsequent branding changes, including a period as Citibank Privatkunden AG until 2010. The acquisition by Crédit Mutuel marked a significant shift towards becoming a universal bank, expanding its service offerings beyond retail banking to include business and corporate financing solutions.

Key milestones in Targo Bank's development include:
- **1926**: Establishment as Kunden-Kredit-Bank.
- **2008**: Acquisition by Crédit Mutuel Alliance Fédérale.
- **2010**: Rebranding to Targo Bank.

The bank has focused on diversifying its product offerings and expanding its market reach, particularly in consumer credit and credit card services.

# Corporate Structure and Subsidiaries

Targo Bank operates as a single entity under the ownership of Crédit Mutuel Alliance Fédérale. The bank's internal structure includes various operational divisions that cater to different market segments, including retail, business, and corporate clients. The leadership team is headed by Isabelle Chevelard as CEO, supported by a supervisory board chaired by René Dangel.

The bank's operations are primarily concentrated in Germany, with no specific subsidiaries mentioned in the provided data.

# Regulation and Compliance

Targo Bank is regulated by the Federal Financial Supervisory Authority (BaFin) in Germany. However, there are concerns regarding its regulatory compliance, with some sources indicating that it operates under suspicious regulatory licenses. The bank has a client fund protection policy that includes segregating client funds from operational funds, although details regarding investor compensation fund participation are not explicitly stated.

The compliance framework includes adherence to Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, ensuring that the bank meets regulatory standards. Despite its regulatory oversight, potential clients are advised to exercise caution due to the lack of comprehensive regulatory clarity.

# Global Presence and Market Coverage

Targo Bank's primary geographic market is Germany, where it serves a diverse clientele that includes private individuals, small businesses, and corporate entities. The bank's extensive branch network facilitates accessibility for its customers. While the bank has established a significant presence in the German market, there is no indication of operations in other regions or countries.

# Financial and Operational Data

As of 2024, Targo Bank employs approximately 7,400 staff and serves around 3.8 million customers. The bank reported total assets of €44.9 billion and a pre-tax profit of €607 million. The organization focuses on maintaining a robust operational infrastructure to support its banking services, although specific details regarding technology investments were not provided.

# Reputation and Industry Standing

Targo Bank's reputation within the financial community is mixed. While it is recognized for its extensive range of banking services, concerns regarding its regulatory status and compliance have raised questions about its credibility. The bank has received awards for customer service, but it has also faced scrutiny related to past practices, particularly during its time as Citibank.

The overall perception of Targo Bank is that it is a significant player in the German banking landscape, but potential clients are advised to conduct thorough research before engaging with its services.

# Summary

Targo Bank company presents a comprehensive profile as a banking institution with a long history and a diverse array of financial services. While it operates under the regulatory oversight of BaFin, concerns regarding its compliance and operational integrity persist. The bank's extensive branch network and customer base position it as a notable entity in the German market, yet potential clients should remain vigilant and informed about the associated risks before engaging with its services.

Account Types

# Targo Bank Account Types

Targo Bank offers various account types designed to meet the needs of different traders. Below are the details of the available account types:

| Account Type | Minimum Deposit | Spreads/Commission | Leverage Limits | Trading Instruments | Base Currencies | Execution Model | Unique Features |
|--------------|-----------------|---------------------|------------------|--------------------|------------------|------------------|------------------|
| Standard     | Starts from $100 | Minimum spread from 1.2 pips | Up to 1:500 | Forex, commodities, indices, cryptos | USD, EUR, GBP | STP/ECN | - |
| ECN          | Not specified    | Zero or variable depending on account | Up to 1:500 | Forex, commodities, indices, cryptos | USD, EUR, GBP | ECN | - |
| Demo         | Not applicable   | Not applicable       | Not applicable    | Not applicable      | Not applicable    | Not applicable    | Practice without risk |

# Targo Bank Broker Account Opening Process

To open an account with Targo Bank, follow these steps:

1. **Visit the Targo Bank Website**: Go to the official Targo Bank website and click on the “Sign Up” button.
2. **Fill in Personal Information**: Enter your personal details, including full name, email, and password.
3. **Agree to Terms**: Agree to the terms of service and privacy policy.
4. **Email Verification**: Verify your email by clicking the link sent to your inbox.
5. **Identity Verification**: Upload identity documents and proof of residence for KYC verification.
6. **Account Approval**: Wait for the approval, which typically takes 1-3 business days.
7. **Deposit Funds**: Once approved, make your initial deposit to activate your account.
8. **Access Trading Platforms**: After funding, you can access Targo Bank’s trading platforms, including MetaTrader 4/5.

This structured approach ensures a smooth account opening experience with Targo Bank.

Deposit & Withdrawal

# Targo Bank Deposit & Withdrawal Guide 2025: Methods, Limits, and Processing Times Explained

## Targo Bank Minimum Deposit Explained

### Exact Minimum Deposit Amount
The minimum deposit requirement for Targo Bank accounts varies depending on the account type. Generally, the minimum deposit starts from **€100** for standard accounts.

### Account-Type Comparison
- **Standard Accounts**: Minimum deposit of €100.
- **ECN Accounts**: Higher minimum deposit requirements, often starting from €500 or more.
- **Demo Accounts**: No minimum deposit is required as these accounts are for practice purposes.

### Regional Differences
While the minimum deposit is consistent across most regions, specific account types may have different requirements based on local regulations and banking practices.

### Advantages
1. **Low Entry Barrier**: Starting with as little as €100 makes Targo Bank accessible to new traders.
2. **Diverse Account Options**: Various account types cater to different trading styles and needs.
3. **Regulatory Safety**: Targo Bank is a member of the German deposit protection scheme, offering security for deposits up to €100,000.
4. **User-Friendly Platform**: The bank offers a robust online banking platform for easy management.

### Disadvantages
1. **Higher Minimum for Advanced Accounts**: While standard accounts are accessible, advanced accounts may require a significant upfront investment.
2. **Limited Availability of Certain Accounts**: Some account types may not be available in all regions.
3. **Potential Fees**: Depending on the account type, there may be fees associated with maintenance or inactivity.
4. **Withdrawal Restrictions**: Some accounts may have limitations on how quickly funds can be withdrawn.

### Competitor Comparison
Targo Bank's minimum deposit is competitive compared to other banks in Germany. For instance:
- **Commerzbank**: Minimum deposit of €100 for standard accounts.
- **Deutsche Bank**: Higher minimum deposit requirements for similar account types, often starting at €500.

## Targo Bank Deposit Methods Comprehensive Guide

### Available Deposit Methods
1. **Bank Transfer**
   - **Processing Time**: 1-3 business days.
   - **Fees**: Typically free.
   - **Availability**: Widely available.
   - **Limits**: No specific limit, subject to account type.
   - **Pros**: Secure and reliable.
   - **Cons**: Slower processing time.

2. **Credit/Debit Cards**
   - **Processing Time**: Instant.
   - **Fees**: May incur small transaction fees.
   - **Availability**: Accepted for most accounts.
   - **Limits**: Typically up to €5,000 per transaction.
   - **Pros**: Quick and convenient.
   - **Cons**: Potential fees and limits on transaction amounts.

3. **E-Wallets (e.g., PayPal, Skrill)**
   - **Processing Time**: Instant.
   - **Fees**: Varies by provider, generally low.
   - **Availability**: Supported for many accounts.
   - **Limits**: Depends on the e-wallet provider.
   - **Pros**: Fast and easy to use.
   - **Cons**: Not all e-wallets may be supported.

4. **Local Deposit Options**
   - **Processing Time**: Varies by method.
   - **Fees**: May apply based on local regulations.
   - **Availability**: Check with local branches.
   - **Limits**: Subject to local banking regulations.
   - **Pros**: Convenient for local clients.
   - **Cons**: May have higher fees.

### Supported Currencies and Recommended Methods
Targo Bank primarily supports deposits in **EUR**. For the fastest processing times, using credit/debit cards or e-wallets is recommended, as these methods typically offer instant fund availability.

## Targo Bank Deposit Steps Explained

### Step-by-Step Deposit Procedure
1. **Log in to Your Account**: Access your Targo Bank account through the website or mobile app.
2. **Navigate to Deposit Section**: Find the deposit option in the menu.
3. **Select Deposit Method**: Choose your preferred method (bank transfer, card, e-wallet).
4. **Enter Deposit Amount**: Specify the amount you wish to deposit.
5. **Confirm the Transaction**: Review the details and confirm the deposit.

### Mobile vs Web Differences
The deposit process is similar on both platforms, but the mobile app may offer additional features like biometric login for faster access.

### KYC Notes and Common Issues
- **KYC Verification**: Ensure that your identity documents are uploaded for verification.
- **Common Issues**: Delays can occur if the KYC process is not completed. Ensure all documents are clear and valid.

### Typical Fund Crediting Times
- **E-Wallets and Cards**: Instant crediting.
- **Bank Transfers**: 1-3 business days.

## Targo Bank Withdrawal Methods Overview

### Available Withdrawal Channels
1. **Bank Transfer**
   - **Processing Time**: 1-5 business days.
   - **Fees**: Typically free.
   - **Limits**: Subject to account type.
   - **Pros**: Secure and reliable.
   - **Cons**: Slower than other methods.

2. **E-Wallets**
   - **Processing Time**: Instant.
   - **Fees**: Varies by provider.
   - **Limits**: Depends on the e-wallet.
   - **Pros**: Quick and convenient.
   - **Cons**: Not universally accepted.

3. **Credit/Debit Cards**
   - **Processing Time**: 1-3 business days.
   - **Fees**: May incur small transaction fees.
   - **Limits**: Up to the amount deposited.
   - **Pros**: Familiar method for users.
   - **Cons**: Limited to the amount initially deposited.

### Recommended Options by Cost and Speed
For the fastest withdrawals, e-wallets are recommended due to their instant processing times. Bank transfers, while secure, take longer.

## Targo Bank Withdrawal Steps Explained

### Step-by-Step Withdrawal Instructions
1. **Log in to Your Account**: Access your Targo Bank account through the website or mobile app.
2. **Navigate to Withdrawal Section**: Find the withdrawal option in the menu.
3. **Select Withdrawal Method**: Choose your preferred method (bank transfer, e-wallet, card).
4. **Enter Withdrawal Amount**: Specify the amount you wish to withdraw.
5. **Confirm the Transaction**: Review the details and confirm the withdrawal.

### ID Verification Requirements
For withdrawals, you may need to verify your identity if not already completed during the deposit process. Ensure that all documentation is up-to-date.

### Expected Fund Arrival Time
- **E-Wallets**: Instant.
- **Credit/Debit Cards**: 1-3 business days.
- **Bank Transfers**: 1-5 business days.

### Typical Delay Reasons and Fixes
Delays can occur due to:
- **Incomplete KYC Documentation**: Ensure all documents are verified.
- **Bank Processing Times**: Understand that banks may have their own processing times.

## FAQs – Targo Bank Deposits & Withdrawals

### What is the minimum deposit for Targo Bank?
The minimum deposit for Targo Bank accounts starts at **€100** for standard accounts.

### How long do withdrawals take?
Withdrawals can take between **1 to 5 business days**, depending on the method used.

### Are there fees for deposits or withdrawals?
Fees may apply depending on the deposit or withdrawal method. For bank transfers, fees are typically free, while credit/debit cards and e-wallets may incur small fees.

### Can the same method be used for both?
Generally, yes. Withdrawals are typically processed back to the original funding method used for deposits.

### Are crypto or local methods supported?
Currently, Targo Bank does not support cryptocurrency deposits or withdrawals. Local methods may be available, depending on the region.

Disclaimer: This card is for informational purposes only and does not constitute investment advice. Always verify details with official disclosures and regulators.

Targo Bank

Targo Bank

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