Several trends are currently coming together in the financial sector: The low interest rate policy makes every cost-conscious account holder look out for alternatives to the house bank. In the financial service provider market, the fintech revolution is bringing us new providers (Ibanwallet) who are presenting attractive offers with fresh ideas and interesting concepts.
Ibanwallet makes it immediately clear in its terms and conditions: they are not a service provider for capital investments, nor a credit intermediary or a crowdfunding platform. And yet you can apparently do exactly these kinds of business at Ibanwallet. How does that fit together?
Ibanwallet has to be imagined like a three-leaf clover: one of the leaves is Ibanwallet, a Latvian company with its headquarters in Berlin. Ibanwallet determines the business model, brings together supply and demand and maintains access to the website.
Another shamrock is the London company Teapayment limited. It acts as an e-money provider and is therefore a financial institution that is subject to the control of the English Financial Conduct Authority (“FCA”) and whose services are provided in accordance with the provisions of the Electronic Money Regulations from EU law.
The third cloverleaf are Internet service providers, through which accounts are created and who ensure the exchange of information and other services between the platform and the e-money provider.
The best thing about the whole thing is that the potential user does not notice this interaction. Once he is registered he can devote himself entirely to his business on Ibanwallet.
We also find the triple constellation in the Ibanwallet offer: Ibanwallet offers capital investments, loans and international money transfer services. Ibanwallet puts both uncomplicated and fast processing in the foreground as well as complete exemption from costs and fees. Yes, let’s take a look at each one in turn.
Anyone who has a little, or even a little more, money available for a limited period of time or for the long term can invest their capital in whole or in portions in various formulas at Ibanwallet. The minimum deposit in the basic package starts at € 1. The deposits in this formula are calculated with z. B. 2.5% pa interest and paid at will and without restriction. For other formulas, Ibanwallet offers higher interest rates, which range from 3% pa to 6% pa, for example. In return, the deposit is fixed up to an investment horizon. You can choose between at least 1, 3 or 5 years as well as a minimum deposit of € 1,000 for 1 and 3 years and € 50,000 for 5 years.
In addition, Ibanwallet offers a program of call money accounts with terms of 30, 90 and 180 days. The potential investor has a wide choice. The basic formula offers the greatest freedom to test the Ibanwallet offer with small amounts.
The business processes are handled easily: after completing the registration process, all you have to do is select the desired investment formula and deposit the desired amount. Each investment process represents an individual investment under the conditions selected in each case. It is therefore perfectly possible to put together a portfolio of different terms, amounts and interest rates, depending on your free funds and temperament.
In contrast to crowdfunding platforms, the investor does not choose loans with underlying projects. Lending occurs in a completely independent routine. This is where the e-money provider comes into play. The amounts deposited by the investors end up with him. He also signs the loans with customers that Ibanwallet finds creditworthy and approves for contracts.
Ibanwallet has outsourced the assessment of creditworthiness to the Paris service provider October.
In Ibanwallet’s business model, borrowers from different industries and from very different geographic markets submit applications for contracts with different terms. This allows the platform to select the loans in such a way that there is a natural spread and thus a minimization of the risk. In addition, Ibanwallet secures all loans through assets and a buyback guarantee. Furthermore, the invested amounts are managed as a special fund by the e-money provider. Thus, the investor does not bear any default risk.
The third part of the Ibanwallet offer is the international money transfer. Ibanwallet handles this service with its partner TransferWise. Amounts in all desired currencies are transferred to all countries for competitive fees. TransferWise advertises that it is not only significantly cheaper than traditional banks, but also compared to other payment service providers in the international payments market.
Ibanwallet offers access to the platform via an app that works in both an iOS and Android environment. No fees are charged for any of the services offered, such as account opening, deposit, withdrawal or transfer. Ibanwallet is financed exclusively through the spread, the difference between the interest rate on the deposited and borrowed money.
Payments into the Ibanwallet settlement account can be made using credit or other payment cards. Only in the case of transfers from other bank accounts is there a restriction that the account holder must be identical to the Ibanwallet customer. The business transactions for investing in the various offers are done with a click of the mouse or with the thumb on the smartphone.
Ibanwallet offers a support email address and a blog for questions. A list of the most important FAQs rounds off the range of services.
Advantages of the Iban Wallet
– Broad design options for deposits and terms
– Attractive collateral
– Easy to use
– Attractive interest rates
– Fast execution
– Only € 1 minimum amount
– International orientation
– Complicated business structure
Let’s dare a conclusion: Ibanwallet helps to concentrate on the essentials. Investing money – done in just a few steps. There are no waiting times for credit amounts to be reached or latent uncertainties as to whether the chosen investment will come about. This gives the user a practical tool for optimizing cash levels and returns.
Deposits are possible from an amount of 1 € and are therefore open to everyone who wants to store cash on hand, even if only for a short time. If you want to test it out, you can start here at Iban Wallet .