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− | {{DISPLAYTITLE:Vivid Money | + | {{DISPLAYTITLE:Vivid Money}} |
− | '''Vivid Money''' is an online bank from Germany. | + | '''Vivid Money''' is an online bank from Germany. |
− | * offers '''English support''' | + | * It offers '''English support''' |
− | * does '''not require a registered address''' to open an account | + | * and does '''not require a registered address''' to open an account. |
− | * | + | * There is '''no monthly fee''' for the standard account. |
− | + | == Frequently Asked Questions (FAQ) == | |
− | + | ||
− | + | === Which documents do I need to open an account? === | |
* 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 a registered address. | * You do not need a registered address. | ||
− | + | === 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 your home by mail. | * If you top up your account with €200, you get a '''free VISA debit card''' (made from '''metal'''), sent to your home by mail. | ||
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* 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 hold & exchange to multiple currencies? === | |
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− | * Yes, you can '''hold 40 currencies''' in the free plan and 100+ in the paid plan. | + | * Yes, you can [https://vivid.money/en-eu/compare/ '''hold 40 currencies''' in the free plan and 100+ in the paid plan]. |
* You can also exchange between the currencies in the app. | * You can also exchange between the currencies in the app. | ||
* However, you can '''send & receive only EUR'''. | * However, you can '''send & receive only EUR'''. | ||
− | + | === Can I also save money? Can I invest in shares & ETFs? === | |
− | * Yes, kind of | + | * 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. | ||
* 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 cryptocurrencies? === | |
− | * Yes, | + | * Yes, [https://vivid.money/en-eu/investments/crypto/ you can invest into many popular crypto currencies], such as Bitcoin, Ethereum, etc. |
+ | |||
+ | === Is there a bonus for new customers? === | ||
+ | * No. There was a bonus program but it seems Vivid has stopped it. | ||
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== Screenshots == | == Screenshots == | ||
<gallery mode="traditional" widths=150px heights=300px> | <gallery mode="traditional" widths=150px heights=300px> | ||
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<div id="open" /> | <div id="open" /> | ||
− | == Open a Vivid | + | == Open a Vivid bank account == |
− | # {{AffLink|Click here|vivid | + | # {{AffLink|Click here|vivid}}. |
− | # Enter your ''' | + | # Enter your ''' email address'''. |
− | # You will | + | # You will receive an email with a link to download the Vivid app. |
− | # Open the app and '''create a new account''' with the '''same | + | # Open the app and '''create a new account''' with the '''same email address'''. |
# 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). | ||
# Your '''Visa card''' arrives per '''mail'''. It should take around 3-5 business days. | # Your '''Visa card''' arrives per '''mail'''. It should take around 3-5 business days. | ||
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[[Category:Banking]] | [[Category:Banking]] | ||
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