Banking · Retail bank
Vivid Money: a multi-currency account backed by a German partner bank
Account and investment app whose bank accounts are held by a German partner bank. Open to residents of the European Union who are not subject to US taxation.
Please note
Characteristics
- Family
- Retail bank
- Regulator
- BaFin (banque partenaire) ; AFM (investissement)
- Regulator country
- Germany
- Deposit guarantee
- Yes
- Remote opening
- Yes
- Currencies
- EUR
- Services
- Current account · Multi-currency account · Payment card · Securities and trading
- Accepted residencies
- Not provided
- Refused residencies
- United States
- Home country
- Germany
According to the pre-contractual information reviewed, the account holder must be of legal age, a consumer, have permanent residence in Germany or another European Union member state, and not be subject to US taxation under FATCA; Vivid may refuse a registration without giving a reason.
Entities and regulatory status
| Entity | Jurisdiction | Status | Regulator | Protection of funds |
|---|---|---|---|---|
| Solaris SE (anciennement Solarisbank AG)holds the accountCredit institution that holds the accounts, including multi-currency accounts, and the debit card on the German market. | Germany | Brands backed by a partner bank | BaFin / Deutsche BundesbankLicence HRB 168180 B | Entschädigungseinrichtung deutscher Banken (EdB) |
| Vivid Money GmbHgroupOutsourced service provider of Solaris SE: it does not provide any account or payment service in its own name. | Germany | Platforms and other set-ups | ||
| Vivid Money B.V.holds the accountInvestment firm authorised by the Dutch financial markets authority; investment and, since September 2023, foreign exchange intermediation. | Netherlands | Brokers and investment services | AFM |
Who can open or keep an account
| Country of residence | Case | Status | Conditions |
|---|---|---|---|
| Any residence (general rule) | Opening | Conditions apply | Permanent residence in Germany or another European Union member state.website-static.vivid.money |
| United States | Opening | Refused | Persons subject to US taxation (FATCA) are excluded.website-static.vivid.money |
A country missing from this table is neither accepted nor refused: the information is not published.
Published figures
- Account feeNot provided
- Brokerage feeNot provided
- Deposit guarantee ceilingNot provided
- Entry ticketNot provided
Which entity, which status
Vivid is a brand: according to its own page on the group's entities, bank accounts, multi-currency accounts, debit cards and overdrafts on the German market are provided by Solaris SE, a licensed German credit institution; Vivid Money GmbH acts only as a service provider and does not provide any payment service in its own name (Vivid legal entities). Investment is handled by Vivid Money B.V., an investment firm authorised by the Dutch AFM, and the crypto-asset offering by an Italian company registered as a virtual asset service provider.
The arrangements applicable to customers outside Germany (France, Spain, Italy) have not been verified; the page reviewed expressly covers only the German market.
Who can open an account
The pre-contractual information requires applicants to be at least figure being updated, to act as a consumer, to reside permanently in Germany or another European Union member state, and not to be subject to US taxation under FATCA (pre-contractual information).
This document, which still refers to the partner bank by its former name, may predate the version currently in force. It does not address whether the account can be kept after a move outside the Union.
Account, card and currencies
Each account linked to the SEPA network has its own IBAN; currency sub-accounts and a debit card are offered. A business offering exists under the same brand.
IBAN country, foreign exchange fees and limits were not recorded.
Protection of funds
As the accounts are held by Solaris SE, deposits fall under the German statutory deposit guarantee scheme (EdB). Securities held through Vivid Money B.V. fall under a different regime, that of investor compensation, which is not detailed here.
Points to check
- The account-holding entity stated in the contract, and the IBAN country.
- The situation of the partner bank, on which the accounts of several brands depend.
- For a US taxpayer: outright exclusion.