Vivid Money is a neobank based in Germany offering Personal accounts including a debit card, with all transactions being managed from an iPhone or Android application. Vivid Money currently accepts to open mobile bank accounts for residents of Austria, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Vivid Money is rated 4.15 on TrustPilot - based on 8301 reviews.
Want to know everything about Vivid? In this article, you will learn everything you need to know about their cashback program and how it works. Vivid Money offers more than just a free current account. It can multiply your savings capacity and transform your banking experience.
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What is Vivid Money?
Given its many features, it's hard to define what Vivid is in a single sentence. In just a few months, the German fintech has conquered the world with an offering that has already caught the attention of thousands of users.
Vivid is much more than a free neobank. Indeed, Vivid's most remarkable feature is its cashback program. Through this service, you will receive up to 25% cashback on payments made with your card to brands partnered with the bank. This includes Spotify, Starbucks, and many others.
But Vivid offers many more features which we will discuss in detail.
All the features Vivid has to offer
There are many things that Vivid is known for, not just its cashback program: let's explore the many features and services this fintech offers.
Multiple bank accounts in one, accepting 100+ currencies
There are many free neobanks out there, but Vivid doesn't offer yet another free current account, but several in one.
Your money can be divided into separate sub-accounts, each with a different IBAN number, within your own account.
The creation of so many sub-accounts is of course free of charge, and they are very handy for saving money to finance different projects, such as a trip, keeping track of your company's accounts, or tracking passive income from your investments, for example.
To make the system even more convenient, you can even share your different sub-accounts with your friends and family. You can also link any of your sub-accounts to your bank card at any time for use when making payments.
As each sub-account works as an independent account, each of them can even be organized with a single currency: in one sub-account you can have Euros, in another you use Dollars to trade, in another, to plan a trip to Manchester, you will have Pounds… and again: all this without any additional cost.
The Vivid app offers over 100 currencies, allowing you to organize your accounts according to your different goals
Diversified and commission-free investing from €0.01
From its inception, the Vivid app was designed with a unique feature that allows you to link your account to any listed company, allowing your cashback pocket to grow in line with the share price.
This allows you to access the stock market without direct exposure and generate passive income while continuing to use your bank account as usual. A feature that makes Vivid Money stand out from the rest.
Now you also have the possibility to enter directly into the world of investing through stocks, ETFs, SPCAs, and the latest addition: crypto-currencies, with the new unlimited commission-free investment program. With just €0.01, you can trade on the European and US markets as well as the crypto-currency market, with over 20 new crypto-currencies just added to the catalog.
Another big advantage recently introduced by Vivid Prime is the ability to open more than one pocket account (as they call it in the app) to diversify your investments and manage your capital, so you can manage different investment strategies so you don't put all your eggs in one basket.
Metal Cards
Apart from the physical appearance, which cannot be denied, the two models have a very striking aesthetic, Vivid's free metal card stands out mainly for what it has to offer:
– Free withdrawals from all ATMs worldwide. Wherever you are, you can withdraw up to €1,000 per debit at any ATM without any fees.
– Pay in the currency of your choice. If you choose the sub-account where you use dollars as your main account, pay in dollars instantly without worrying about anything else.
– Cashback of up to €150 per month. If you have Vivid Prime, you can earn cashback on various services such as Spotify, Starbucks, Netflix… And add to that the return on your associated shares.
– Maximum security. Few bank cards offer the security of the Vivid metal card, because no personal data is printed on it (no CVV, no date, no name); everything is stored in the application.
– If you are part of Vivid prime, in addition to the first free card, you can get as many additional cards as you want for free (only the shipping costs, €9.90 each).
Free instant reloads
Just as you benefit from cashback, if you are a Prime user, you will now have the privilege of topping up your accounts for free up to €1,000 per month. You can do this instantly by linking your card, to Apple Pay or Google Pay.
Vivid Cashback: earn up to €150 a month on your account.
Now we come to Vivid's most interesting benefit: its cashback program, thanks to which you'll be able to get up to 25% of every purchase and payment made with your bank card back into your account, plus the performance of actions associated with your account.
There's no doubt that Vivid's main asset, which has propelled it to the forefront so quickly, is its incredible cashback program with many major brands.
How does the Vivid Cashback system work and how much can I earn?
Let's take it step by step: with the Vivid Cashcard, there are dozens of services and brands that you can spend money on, some of which are then returned to your account. This is called cashback and it allows you to earn between 10% and 25% every month, depending on the Vivid subscription you use.
Brands such as Netflix, Spotify, Amazon, Carrefour, Deliveroo… By paying with your card at any of these, you get a proportionate share back into your account, and if you're also a Vivid Prime subscriber, you can pocket up to €150 every month. It's as simple as that.
Don't forget that if you use the standard Vivid account, the maximum cashback you can get is no more than €20: you have to be a Vivid Prime subscriber to get up to €150 cashback on almost every purchase you make.
Yes, it's amazing, and more and more (big) brands are joining Vivid's cashback program: Uber Eats, Carrefour, and Amazon are among a growing list of hundreds of retailers.
There's no doubt that this is the main feature of Vivid Money, but what makes this financial technology even more attractive is that it's not the only huge benefit it offers.
Vivid Money conditions and requirements
Despite its comprehensive savings, investment, and current account service, Vivid is a free account with no requirements to open or maintain. For security reasons, you will only need to meet the conditions of the application itself:
– Be over 18 years of age.
– Be fully and legally responsible for all activity on your account.
– Do not open your account for criminal or questionable uses.
Vivid's fees and commissions
Vivid offers two main products: Vivid Standard and Vivid Prime. You only pay if you buy the premium service, which is Vivid's free bank account but with even more advanced and customized features.
The first three months of Vivid Prime are also free, so you can get acquainted with the service and eventually decide if it's what you're looking for. After that, Vivid's premium service costs just €9.90/month. What's more, you can switch back to Vivid Standard and continue your free account at any time.
How to open a free Vivid account
It only takes a few minutes to open a Vivid account. Just download the Vivid application from this page onto your smartphone, launch it and fill in a short form with your personal information such as name, surname, and date of birth.
It is customary to provide information on the origin of the funds you intend to credit to the account. This process is to comply with current anti-money laundering legislation (standard procedure for opening a bank account).
After entering your mobile phone number, a one-time password will be sent. You will be able to continue the registration process from that point on.
To finalize your registration a passport or ID card is required (driving licenses will not be accepted). You will also need to provide a selfie by moving your head left and right.
At this stage, you will have to wait for the operators to validate your documents. The process is usually very quick and you should receive confirmation almost immediately. However, if a large number of users open an account at the same time, this process can take up to 24 hours.
Your free Vivid card application (virtual, physical, or both) can be submitted as soon as you receive your opening confirmation by email. You can now top up your account but only by bank transfer.
Advantages and disadvantages of Vivid
Advantages
✅ Its incredible Casback program
✅ Card payments in all currencies without fees.
✅ Cash withdrawals of up to €200 per month, commission-free, from any ATM in the world, in its free version.
✅ The ability to instantly top up the account from another card so you can access the money if you need it urgently.
Disadvantages
We've looked hard and haven't found any drawbacks to Vivid
Opinions on Vivid?
Vivid Money will revolutionize the financial sector. In one app, you find a whole new way of banking that combines security and convenience, leaving technical knowledge behind to bring a smart way to save and invest in ETFs, stocks, and even crypto-currencies.
With all these premises, there are those who doubt the reliability of Vivid Money; however, there is no doubt that we are dealing with one of the safest and most secure fintech on the market, which also continues to work every day to evolve even more in this direction.
Vivid Money is available completely free of charge with multiple features that make it an app without competition, but you will also be able to access exclusive benefits in a premium version that is worth trying.
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