Difference between revisions of "Vivid Money"

From Expat Wiki
Jump to navigation Jump to search
 
(17 intermediate revisions by the same user not shown)
Line 1: Line 1:
−
{{DISPLAYTITLE:Vivid Money}}
+
{{DISPLAYTITLE:Vivid Money (FAQ, Screenshots, €40 Bonus)}}
 
'''Vivid Money''' is an online bank from Germany. It
 
'''Vivid Money''' is an online bank from Germany. It
  
Line 6: Line 6:
 
* charges '''no monthly fee''' for the standard account.
 
* charges '''no monthly fee''' for the standard account.
  
−
== Frequently Asked Questions (FAQ) ==
+
{{AffLink|Vivid website|vivid}}
−
 
+
{{FAQ|
−
=== Which documents do I need to open an account? ===
+
{{FAQ/Item|q= Which documents do I need to open an account? |a=
  
 
* a supported ID or passport
 
* a supported ID or passport
−
** see here [https://help.vivid.money/en/articles/4159457-how-do-i-verify-my-identity-and-what-document-can-i-use the current list]
+
** see here [https://help.vivid.money/en/articles/5940643-how-do-i-verify-my-identity the current list (last paragraph])
 
** (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? ===
+
}}{{FAQ/Item|q= How is my money protected? |a=
  
−
* 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]''.
+
* 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/Deposit_insurance#European_Union Deposit insurance].
 
* 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? ===
+
}}{{FAQ/Item|q= How much does Vivid cost? |a=
  
 
* 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? ===
+
}}{{FAQ/Item|q= How can I withdraw cash? |a=
  
 
* You can use any machine, in Germany or abroad.  
 
* You can use any machine, in Germany or abroad.  
Line 31: Line 31:
 
* 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? ===
+
}}{{FAQ/Item|q= How can I deposit cash? |a=
  
 
* 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? ===
+
}}{{FAQ/Item|q= What transactions can I make & receive? |a=
  
 
* You can make and receive any '''SEPA''' transactions.
 
* You can make and receive any '''SEPA''' transactions.
Line 43: Line 43:
 
** '''pay rent''' to your landlord.
 
** '''pay rent''' to your landlord.
  
−
=== Which card do I get with Vivid? ===
+
}}{{FAQ/Item|q= Which card do I get with Vivid? |a=
  
 
* 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.  
Line 50: Line 50:
 
* 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? ===
+
}}{{FAQ/Item|q= What account number (IBAN) do I get? |a=
  
 
* You get an account number (IBAN) from '''Germany''' 🇩🇪.
 
* You get an account number (IBAN) from '''Germany''' 🇩🇪.
  
−
=== In which language can I use Vivid? ===
+
}}{{FAQ/Item|q= In which language can I use Vivid? |a=
  
 
* The app and the customer support are available in:
 
* The app and the customer support are available in:
Line 65: Line 65:
 
* Their first reply comes usually after 5 to 30 minutes.
 
* Their first reply comes usually after 5 to 30 minutes.
  
−
=== Can I use Vivid on my desktop computer? ===
+
}}{{FAQ/Item|q= Can I use Vivid on my desktop computer? |a=
  
 
No. You can manage your account only from your smartphone (Android or iOS/Apple).
 
No. You can manage your account only from your smartphone (Android or iOS/Apple).
  
−
=== Can I hold & exchange to multiple currencies? ===
+
}}{{FAQ/Item|q= Can I hold & exchange to multiple currencies? |a=
  
 
* Yes, you can '''hold 40 currencies''' in the free plan and 100+ in the paid plan.<ref>{{Cite|url=https://vivid.money/en-eu/compare/|date=2022-05-03|quote=Currencies in free separate pockets: Up to 40 currencies / Up to 107 currencies}}</ref>
 
* Yes, you can '''hold 40 currencies''' in the free plan and 100+ in the paid plan.<ref>{{Cite|url=https://vivid.money/en-eu/compare/|date=2022-05-03|quote=Currencies in free separate pockets: Up to 40 currencies / Up to 107 currencies}}</ref>
Line 75: Line 75:
 
* 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? ===
+
}}{{FAQ/Item|q= Can I also save money? Can I invest in shares & ETFs? |a=
  
−
* Yes, [https://vivid.money/en-eu/investments/ kind of].
+
* Yes, kind of: You can buy '''fractional shares'''<ref>{{Cite|url=https://help.vivid.money/en/articles/5964211-what-are-fractional-instruments|date=2022-05-03|quote=With our fractional trading services, we offer fractional shares, fractional coins and fractional precious metals which are all fractional instruments.}}</ref> from more than 1000 US and EU companies and ETFs, '''without any transaction fees''' and '''no minimum''' investment.  
−
* 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 [https://help.vivid.money/en/articles/5967888-what-s-the-nature-of-fractional-instruments still protected] (90% of it, up to €20,000).
+
* Also, should their partner go bankrupt, your money is still protected (90% of it, up to €20,000).<ref>{{Cite|url=https://help.vivid.money/en/articles/5967888-what-s-the-nature-of-fractional-instruments|date=2022-05-03|quote=A claim for compensation exists only if funds are denominated in the currency of an EU member state or in euro and is limited to 90% of the claim or a maximum of €20,000.00.}}</ref>
−
 
 
−
=== Can I buy Bitcoin and other cryptocurrencies? ===
 
−
* 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? ===
+
}}{{FAQ/Item|q= Can I buy Bitcoin and other cryptocurrencies? |a=
−
* No. There was a bonus program but it seems Vivid has stopped it.
+
* Yes, crypto currencies, such as Bitcoin, Ethereum, etc.<ref>{{Cite|url=https://https://vivid.money/en-eu/investments/crypto/|date=2022-05-03|quote=Buy 150+ crypto coins without any delay …}}</ref>
  
 +
}}{{FAQ/Item|q= Is there a bonus for new customers? |a=
 +
* Currently, you get €40 in cashback after [[#open|doing all the steps from here]].
 +
}}
 +
}}
 
== Screenshots ==
 
== Screenshots ==
 
<gallery mode="traditional" widths=150px heights=300px>
 
<gallery mode="traditional" widths=150px heights=300px>
Line 113: Line 113:
 
== Open a Vivid Bank Account ==
 
== Open a Vivid Bank Account ==
  
−
# {{AffLink|Click here|vivid}}.
+
# {{AffLink|Click here|vivid.register}}.
−
# Enter your ''' email address'''.
+
# Enter your ''' phone number'''. You can use Vivid only with a smartphone.
−
# You will '''receive an email''' with a '''link''' to download the Vivid app. '''Install''' the app.
+
# You will '''receive a SMS''' with a '''link''' to download the Vivid app. '''Install''' the app.
−
# Open the app and '''create a new account''' with the '''same email address'''.
+
# 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'''.
  
Line 123: Line 123:
 
# 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.
 +
 +
To get the '''signup bonus''' (€40 in cashback):
 +
 +
* On 3 different days,
 +
* with your new Vivid Visa card,
 +
* spend each time at least €10 in a store or supermarket,
 +
* within 90 days of opening your account.
  
 
[[Category:Banking]]
 
[[Category:Banking]]
  
 
{{Notes}}
 
{{Notes}}

Latest revision as of 18:01, 27 July 2022

Vivid Money is an online bank from Germany. It

  • offers English support
  • does not require a registered address to open an account
  • charges no monthly fee for the standard account.

Vivid website[1]

Questions & Answers[edit]

Which documents do I need to open an account? [edit]

  • a supported ID or passport
  • You do not need a registered address.

How is my money protected? [edit]

  • Vivid is supported by solarisBank, which holds a German banking license, so your money (up to €100,000) is protected by the German Deposit insurance.
  • So even if Vivid goes bankrupt, your money will be safe, guaranteed by the German state.

How much does Vivid cost? [edit]

  • 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.

How can I withdraw cash? [edit]

  • You can use any machine, in Germany or abroad.
  • Withdrawing cash at bank machines is free up to €200 per month.
  • 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? [edit]

  • You cannot deposit cash onto your Vivid account.
  • To top up your account, you can only send SEPA transfers.

What transactions can I make & receive? [edit]

  • You can make and receive any SEPA transactions.
  • For example, with Vivid you can:
    • receive salary from your job
    • pay rent to your landlord.

Which card do I get with Vivid? [edit]

  • If you top up your account with €200, you get a free VISA debit card (made from metal), sent to your home by mail.
  • Additionally, you get a virtual Visa card for free.
  • 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.

What account number (IBAN) do I get? [edit]

  • You get an account number (IBAN) from Germany 🇩🇪.

In which language can I use Vivid? [edit]

  • The app and the customer support are available in:
    • English 🇬🇧
    • French 🇫🇷
    • German 🇩🇪
    • Italian 🇮🇹
    • Spanish 🇪🇸
  • Customer support is available via chat in the app.
  • Their first reply comes usually after 5 to 30 minutes.

Can I use Vivid on my desktop computer? [edit]

No. You can manage your account only from your smartphone (Android or iOS/Apple).

Can I hold & exchange to multiple currencies? [edit]

  • Yes, you can hold 40 currencies in the free plan and 100+ in the paid plan.[2]
  • You can also exchange between the currencies in the app.
  • However, you can send & receive only EUR.

Can I also save money? Can I invest in shares & ETFs? [edit]

  • Yes, kind of: You can buy fractional shares[3] from more than 1000 US and EU companies and ETFs, without any transaction fees and no minimum investment.
  • However, different than at 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 still protected (90% of it, up to €20,000).[4]

Can I buy Bitcoin and other cryptocurrencies? [edit]

  • Yes, crypto currencies, such as Bitcoin, Ethereum, etc.[5]

Is there a bonus for new customers? [edit]

Screenshots[edit]

  • Main screen: Money can be put into different pockets

  • Timeline: Lists all payments

  • …and analyses them automatically

  • Payments: Send or request money to/from others

  • …more options

  • Visa Cards, metal & virtual

  • Card settings

  • Hold multiple currencies

  • … & exchange them in the app

  • Buy cryptocurrencies

  • … list of available currencies

Alternatives[edit]

More Reviews[edit]

Open a Vivid Bank Account[edit]

  1. Click here[1].
  2. Enter your phone number. You can use Vivid only with a smartphone.
  3. You will receive a SMS with a link to download the Vivid app. Install the app.
  4. Open the app and create a new account with the same phone number.
  5. 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.

To get your free Visa card:

  1. Put at least €200 on the account (e.g. make a SEPA transfer to your Vivid IBAN account number).
  2. Your Visa card arrives per mail. It should take around 3-5 business days.

To get the signup bonus (€40 in cashback):

  • On 3 different days,
  • with your new Vivid Visa card,
  • spend each time at least €10 in a store or supermarket,
  • within 90 days of opening your account.

Notes[edit]

  1. ↑ 1.0 1.1 This is an affiliate link. If you click on it and then buy something or sign up for a service, we may earn a commission which covers our expenses. This does not change the price for you.
  2. ↑ "Currencies in free separate pockets: Up to 40 currencies / Up to 107 currencies" – source, retrieved 2022-05-03
  3. ↑ "With our fractional trading services, we offer fractional shares, fractional coins and fractional precious metals which are all fractional instruments." – source, retrieved 2022-05-03
  4. ↑ "A claim for compensation exists only if funds are denominated in the currency of an EU member state or in euro and is limited to 90% of the claim or a maximum of €20,000.00." – source, retrieved 2022-05-03
  5. ↑ "Buy 150+ crypto coins without any delay …" – source, retrieved 2022-05-03

Retrieved from "https://expatwiki.org/index.php?title=Vivid_Money&oldid=2079"