A closer look at the bank accounts of Vivid Money
In recent years, new banks and financial services have emerged as alternatives to the established, traditional banks in Germany – one example includes the provider of the convenient, online Vivid bank account. Since mid-2020, Vivid bank accounts have been available to customers in Germany. Vivid Money, the company behind the bank accounts, operates completely online. With an international team, currently based in Berlin, Amsterdam, and Moscow, Vivid will soon be available in more countries across Europe. Thanks to backing by solarisBank, a fintech company and holder of a German banking license, the money you deposit on your bank account is guaranteed by the German state. Vivid’s most distinguishing feature is the selection of different rewards and services offered as part of the bank account.
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Select your ideal Vivid bank account
Vivid bank accounts come in two different versions: the Standard and Prime. Even with the standard bank account, which is completely free of charge, you’ll get a debit card, access to the banking app, and several unique benefits. Everyone who opens a Vivid bank account receives a Visa debit card in metal without additional costs – a card that is compatible with both Google Pay and Apple Pay. You can also open up to 15 parallel bank accounts, called pockets, each with its own IBAN. With your Vivid bank account, you can pay and transfer money worldwide, as well as exchange money to 40 different currencies and withdraw up to 200 € globally – all without additional fees. The app also includes a budgeting service connected to your Vivid bank account, as well as a chat for 24/7 customer service.
Your Standard Vivid bank account also comes with some rewards through the cashback program. Some popular cashback partners include grocery discounters like Aldi and Lidl, as well as dm, one of Germany’s largest retailers for healthcare goods and household items. You could also earn rewards at international companies such as IKEA, Starbucks, and Amazon. With a free, Standard Vivid bank account, you can earn up to 20 € cashback every month. If you would like to increase your cashback rewards, need a wider range of exchange currencies, or need a higher cash withdrawal limit, you could consider upgrading to a Prime Vivid bank account. With your Prime bank account, you get an additional virtual card as well. A Prime Vivid bank account has a monthly fee of 9.90 €, but you can try the service free of charge for 3 months and won’t be automatically charged after your trial.
Vivid Money also put a lot of focus on safety. Unlike many other cards, the Vivid bank account debit card does not display your card number or CVC code. Instead, you can access this information through the app, where it’s safely stored. Another convenient feature in the Vivid app allows you to freeze (and unfreeze) your debit card at any time, thus blocking access to your bank account if you fear your card has fallen into the wrong hands.
Bank Account Germany Overview
Check out our comparison of the best German bank accounts
Unique benefits and savings with a Vivid bank account
A Vivid bank account is an attractive option for both expats and students alike, as the bank offers you both a debit card and the Standard Vivid bank account completely free of charge. Another way a Vivid bank account differs from other banks is by offering the banking app and customer service in both English and German. Thanks to these language options and an easy-to-use interface, Vivid bank accounts are great for no-hassle banking in Germany.
Another key difference which sets Vivid bank accounts apart from both traditional banks and online competitors is the cashback rewards. A Standard Vivid bank account grants you up to 20 € cashback per month, while the Prime Vivid bank account increases your potential cashback to a monthly 100 €. Additionally, the Prime Vivid bank account significantly broadens your range of ways to earn rewards. Unlike the Standard Vivid bank account, you can not only earn cashback through the Champion program, but you can also receive up to 10% cashback on selected brands when upgrading to Prime. The Prime Vivid bank account even gives you between 0.1 and 3% cashback on your standard purchases, such as groceries and restaurant visits. Clothing companies such as C&A, Zara, and H&M are also part of some of the reward programs, as are food delivery services like Deliveroo, Lieferando, and Uber Eats.
Opening your Vivid bank account online
You can open your Vivid bank account through your smartphone or computer. Start by submitting your email address on Vivid Money’s homepage, then download the Vivid Money app from either Google Play or App Store. You then register for a Vivid bank account on the app and prove your identity through a video call, during which you show your ID. After identification, you can immediately transfer money to your Vivid bank account, and your Visa debit card will arrive within a few business days.
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