We are excited to collaborate with Deutsche Bank as an additional banking partner for BISON. As Germany’s leading bank, Deutsche Bank will be integrated into the custody of Euro balances as part of BISON’s multi-banking strategy. The successful collaboration with Solaris SE, BISON’s long-standing banking partner, will continue.
You can find answers to frequently asked questions here:
Why has BISON partnered with Deutsche Bank?
As part of our multi-banking strategy, BISON is integrating Deutsche Bank as an additional banking partner. Partnering with Germany’s leading bank, alongside Solaris SE, allows us to further strengthen the foundation for BISON’s growth and flexibility.
What does an additional banking partner mean for me as a customer?
With Germany’s leading bank as an additional banking partner, BISON enhances its foundation for growth and flexibility. The successful collaboration with Solaris SE, BISON’s long-standing banking partner, will continue.
In order to benefit from the expanded banking model, your consent is required. Please follow these steps:
- Update your BISON app to the latest version (4.4.0)
- Log into your BISON app. Once you log in, a pop-up will appear asking you to give your consent to the updated terms and conditions as well as the new special terms.
- Accept them by clicking “I agree” in the pop-up. The updated documents are also available in the Inbox section of your BISON app.
- In due course, you will see another pop-up in the BISON app. This will ask for your consent to store your deposits within the trust solution at Deutsche Bank.
Can I still access my Euro balance via the BISON app?
Yes, you can still access your Euro balance through the BISON app without any restrictions as before.
How can I check the current balance of my Euro account with BISON?
There is no change to the display. To check your current Euro balance with BISON, please log into the BISON app and select the “Portfolio” view. There, you will see your assets, such as cryptocurrencies, as well as your Euro deposits.
Can I still make deposits and withdrawals in Euro?
Yes, BISON is still fully available with all its services. You can continue to make deposits and withdrawals without any restrictions.
How are my Euro deposits protected?
Euro deposits at Solaris SE and Deutsche Bank are protected by the statutory deposit insurance up to €100,000 per depositor and per bank. For more information on statutory deposit insurance, please visit: https://einlagensicherung.de/einlagensicherung/
Do I have a contractual relationship with Deutsche Bank?
No, the contractual relationship exists with EUWAX AG, which opens a trust account with Deutsche Bank for the custody of Euro deposits.
Will the terms and conditions of my Euro account change?
No, there are still no fees for you.
Will the speed of deposits and withdrawals be affected?
No, the speed of deposits and withdrawals will not change. Legal regulations apply.
Do I need a new IBAN for deposits?
No, you can continue to use your existing account details to deposit to your BISON Euro account. If this changes in the future, we will inform you.
Will this affect the limits for deposits and withdrawals per transaction or per month?
No, the limits for deposits and withdrawals per transaction or per month are not affected by this.
Can I still use Instant SEPA?
Yes, you can still make instant deposits using Instant-SEPA.
Can I still make instant deposits using Apple and Google Pay or credit cards?
Yes, customers for whom this feature has already been rolled out can still make instant deposits via Apple and Google Pay or credit card.
As a BISON customer, what do I need to do to transfer my Euro balance to the new banking partner’s account?
In order to benefit from the expanded banking model, your consent is required. Please follow these steps:
- Update your BISON app to the latest version (4.4.0).
- Log into your BISON app. After logging in, a pop-up will appear asking for your consent to the updated terms and conditions and the new special provisions.
- Accept them by clicking “I agree” in the pop-up. You have also received the updated documents via Inbox message in your BISON app.
- In due course, you will see another pop-up in the BISON app. This will ask for your consent to store your deposits within the trust solution at Deutsche Bank.
Do I need to resubmit documents and go through a KYC process?
No, this is not required.
Does this affect my securities account?
No, Sutor Bank GmbH remains the custodian bank for your securities account. All your securities are held there.
Can I still transfer my securities account?
Yes, you can still transfer your securities account.
