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| − | + | '''Vivid Money''' is an online bank from Germany. It offers '''English support''' and does '''not require ''Anmeldung''''' to open an account. There is '''no monthly fee''' for the standard account. | |
| − | '''Vivid Money''' is an online bank from Germany. It | ||
| − | + | == Frequently Asked Questions (FAQ) == | |
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| − | + | === Which documents do I need to open an account? === | |
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* a supported ID or passport | * a supported ID or passport | ||
| − | ** see here [https://help.vivid.money/en/articles/ | + | ** see here [https://help.vivid.money/en/articles/4159457-how-do-i-verify-my-identity-and-what-document-can-i-use the current list] |
** (note: passports from Ukraine 🇺🇦 are accepted) | ** (note: passports from Ukraine 🇺🇦 are accepted) | ||
| − | * You do not need | + | * You do not need an ''Anmeldung''. |
| − | + | === How is my money protected? === | |
| − | * Vivid is supported by [https://en.wikipedia.org/wiki/Solarisbank solarisBank], which holds a '''German banking license''', so your money (up to '''€100,000''') is '''protected''' by the German [https://en.wikipedia.org/wiki/ | + | * Vivid is supported by [https://en.wikipedia.org/wiki/Solarisbank solarisBank], which holds a '''German banking license''', so your money (up to '''€100,000''') is '''protected''' by the German ''[https://en.wikipedia.org/wiki/Entsch%C3%A4digungseinrichtung_deutscher_Banken Einlagensicherung]''. |
* So even if Vivid '''goes bankrupt''', your money will be '''safe''', guaranteed by the German state. | * So even if Vivid '''goes bankrupt''', your money will be '''safe''', guaranteed by the German state. | ||
| − | + | === How much does Vivid cost? === | |
* Opening and '''keeping''' the account is '''always free'''. (So even if you stop using it, you can keep it, without paying anything.) | * Opening and '''keeping''' the account is '''always free'''. (So even if you stop using it, you can keep it, without paying anything.) | ||
* '''Paying''' with the Visa card is '''always free''', no matter if in EUR or another currency. Even better, when paying abroad, the will '''show''' you immediately the price in the '''foreign currency and in EUR''', too. So you can see better how much you paid. | * '''Paying''' with the Visa card is '''always free''', no matter if in EUR or another currency. Even better, when paying abroad, the will '''show''' you immediately the price in the '''foreign currency and in EUR''', too. So you can see better how much you paid. | ||
| − | + | === How can I withdraw cash? === | |
* You can use any machine, in Germany or abroad. | * You can use any machine, in Germany or abroad. | ||
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* If you withdraw money, it must be '''€50 or more''' per withdrawal. If you withdraw more or less than these limits, you pay '''3%''' (but not less than '''€1'''). | * If you withdraw money, it must be '''€50 or more''' per withdrawal. If you withdraw more or less than these limits, you pay '''3%''' (but not less than '''€1'''). | ||
| − | + | === How can I deposit cash? === | |
* You '''cannot deposit cash''' onto your Vivid account. | * You '''cannot deposit cash''' onto your Vivid account. | ||
* To top up your account, you can only send '''SEPA transfers'''. | * To top up your account, you can only send '''SEPA transfers'''. | ||
| − | + | === What transactions can I make & receive? === | |
* You can make and receive any '''SEPA''' transactions. | * You can make and receive any '''SEPA''' transactions. | ||
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** '''pay rent''' to your landlord. | ** '''pay rent''' to your landlord. | ||
| − | + | === Which card do I get with Vivid? === | |
| − | * If you top up your account with €200, you get a '''free VISA debit card''' (made from '''metal'''), sent to | + | * If you top up your account with €200, you get a '''free VISA debit card''' (made from '''metal'''), sent to you home by mail. |
* Additionally, you get a '''virtual Visa card''' for free. | * Additionally, you get a '''virtual Visa card''' for free. | ||
* And both cards, you can "'''freeze'''" (=block) and '''unfreeze''' in the app with one tap. | * And both cards, you can "'''freeze'''" (=block) and '''unfreeze''' in the app with one tap. | ||
* This makes the virtual card an '''ideal tool for online payments''': Keep it always frozen, and only unfreeze it when you make an online purchase. This way, even if the card number gets stolen/hacked, it cannot be used. | * This makes the virtual card an '''ideal tool for online payments''': Keep it always frozen, and only unfreeze it when you make an online purchase. This way, even if the card number gets stolen/hacked, it cannot be used. | ||
| − | + | === What account number (IBAN) do I get? === | |
* You get an account number (IBAN) from '''Germany''' 🇩🇪. | * You get an account number (IBAN) from '''Germany''' 🇩🇪. | ||
| − | + | === In which language can I use Vivid? === | |
* The app and the customer support are available in: | * The app and the customer support are available in: | ||
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* Their first reply comes usually after 5 to 30 minutes. | * Their first reply comes usually after 5 to 30 minutes. | ||
| − | + | === Can I also save money? Can I invest into shares & ETFs? === | |
| − | + | * Yes, [https://vivid.money/en-eu/investments/ kind of]. | |
| − | + | * You can buy '''fractional shares''' from more than 1000 US and EU companies and ETFs, '''without any transaction fees''' and '''no minimum''' investment. | |
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| − | * Yes, | ||
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* However, different than at [[Germany/Banking/Brokers|actual brokers]], you '''do not directly own''' your shares & ETFs. They are bought by a partner of Vivid (called ''CM Equity AG'') and then linked to your investment pocket. (That's how Vivid can offer this without any transaction fees.) | * However, different than at [[Germany/Banking/Brokers|actual brokers]], you '''do not directly own''' your shares & ETFs. They are bought by a partner of Vivid (called ''CM Equity AG'') and then linked to your investment pocket. (That's how Vivid can offer this without any transaction fees.) | ||
| − | * Also, should their partner go bankrupt, your money is | + | * Also, should their partner go bankrupt, your money is [https://help.vivid.money/en/articles/5967888-what-s-the-nature-of-fractional-instruments still protected] (90% of it, up to €20,000). |
| − | + | === Can I buy Bitcoin and other crypto currencies? === | |
| − | * Yes, | + | * Yes, [https://vivid.money/en-eu/investments/crypto/ you can invest into many popular crypto currencies], as Bitcoin, Ethereum etc. |
| − | + | === Is there a bonus for new customers? === | |
| − | * Currently, you get | + | * Currently, you get €20 after [[#open|doing all the steps from here]]. |
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== Alternatives == | == Alternatives == | ||
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== More Reviews == | == More Reviews == | ||
| − | * [https://www.youtube.com/watch?v=X0oY6u3VR8k Video review] by ''[https://berlincheap.com/ BerlinCheap.com]'' | + | * [https://www.youtube.com/watch?v=X0oY6u3VR8k Video review] by ''[https://berlincheap.com/ BerlinCheap.com]'' |
| + | <youtube width="300" height="150">X0oY6u3VR8k</youtube> | ||
<div id="open" /> | <div id="open" /> | ||
| − | == Open a Vivid | + | == Open a Vivid bank account == |
| − | # {{AffLink|Click here|vivid | + | # {{AffLink|Click here|vivid}} and '''enter your phone number''' |
| − | + | # '''Download''' the Vivid app: | |
| − | # | + | #* [https://play.google.com/store/apps/details?id=vivid.money Android] or |
| + | #* [https://apps.apple.com/de/app/vivid-money-online-banking/id1504417378 iPhone]. | ||
# Open the app and '''create a new account''' with the '''same phone number'''. | # Open the app and '''create a new account''' with the '''same phone number'''. | ||
# Do the '''video verification''' in the app. You will have a video call with an agent and during the call you will need to '''show your ID card''' or '''passport'''. | # Do the '''video verification''' in the app. You will have a video call with an agent and during the call you will need to '''show your ID card''' or '''passport'''. | ||
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# Put at least '''€200''' on the account (e.g. make a '''SEPA transfer''' to your Vivid IBAN account number). | # Put at least '''€200''' on the account (e.g. make a '''SEPA transfer''' to your Vivid IBAN account number). | ||
| − | # | + | # Wait until your '''Visa card''' arrives per '''mail'''. It should take around 3-5 business days. |
| − | To get the '''signup bonus''' | + | To get the '''signup bonus''', do also this: |
| − | * | + | * on 3 different days, |
* with your new Vivid Visa card, | * with your new Vivid Visa card, | ||
* spend each time at least €10 in a store or supermarket, | * spend each time at least €10 in a store or supermarket, | ||
* within 90 days of opening your account. | * within 90 days of opening your account. | ||
| − | + | * Your bonus should then arrive in max. 3 business days. | |
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