Iban Wallet Review

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What is it?

When traveling the world, Iban Wallet is ideal to increase your budget with a minimum investment of 1 EUR and a projected 2.5 % annual equivalent rate (AER).

It’s easy to set up and start with your first investment, where you can choose between 4 options:

• Projected 2.5 % AER: starting from 1 EUR investment with daily interest payment frequency.

• Projected 3 % AER: starting with minimum 1,000 EUR investment with daily interest payment frequency and a 1-year term.

• Projected 4 % AER: starting with minimum 1,000 EUR investment with daily interest payment frequency and 3 years term.

• Projected 6 % AER: starting with minimum 50,000 EUR investment with daily interest payment frequency and 5 years term.

How does it work?

Once you have registered with a passcode and your mobile number for 2-factor authorization, you can log in to the landing page, which gives you an overview of your current balance, as well as interest and forecast information (as shown in Forecast and balance screenshot).

Forecast and balance

Investments can be done with a debit/credit card or bank transfer.

HINT: Withdraws can only be booked to a bank account. So, it could be better to do investments via bank transfer to get your bank account verified immediately. In case of credit card payments, your bank account needs to be verified with proof of bank details, which might need some time.

However, the support team, that can be contacted under the Help page, responds quickly to approve the bank account.

Banking details, personal details, and passcode can be changed and withdraws can be requested in the Settings page (see screenshot Settings page).

Settings page

There is also a mobile app for Apple Store and Google Play available. Besides of intuitive and user-friendliness, the mobile version is very handy because of having it all in one device – especially when it comes to 2-factor authorization.

What about the forecast?

After approximately 45 days of leaving 100 EUR work, the expected return with the interest rate of a projected 2.5% is as promised 31 Eurocents (see screenshot left side: initial amount / right side: interest after 45 days). The forecasted balance after 12 months is 102.53 EUR:

Calculation source: www.thecalculatorsite.com
Base amount: €100.00
Interest Rate: 2.5% (yearly)
Calculation period: 12 months

Now assuming to invest 1,000 EUR with a 1-year term, therefore earning a projected 3% interest rate, the forecasted balance after 12 months would be 1,030.45 EUR with a return of 30.45 EUR:

Calculation source: www.thecalculatorsite.com
Base amount: €1,000.00
Interest Rate: 3% (yearly)
Calculation period: 12 months

left side: initial amount / right side: interest after 45 days

It’s simple like that! If you want to invest with a minimum amount of 1,000 EUR and use this code RRAINER4YIHT when registering, both of us will get a reward of 25 EUR 🙂

Conclusion

In comparison to classic bank investments, where the interest rates are very little now, Iban Wallet is offering an attractive rate, though the underlying investment model seems to be complex and not very transparent in the way, that you do not know where your money will be invested in the background.

However, on the other hand, you do not need to care about it. And the returns create a passive income. Especially, while traveling it turns out to be a promising investment platform.

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