Vivid Money Review (2024) | Can This Mobile Bank Be the Biggest Revolut Challenger in Europe?

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What is Vivid Money? | Vivid Money Review

Vivid Money is a mobile banking app offering cashback deals and putting all your finances in one place.

Managing your finances with Vivid Money is simple – from getting cashback on daily expenses to investing, the app has it all.

Let’s discover all the information you need about Vivid Money, including its features, fees and more.

Vivid Money Features – What Does Vivid Money Offer? | Vivid Money Review

As mentioned above, Vivid Money is a multi-function personal finance app uniting the following features into one place:

Free banking account. Regardless of which type of Vivid Money account you open, you’ll get a free German bank account powered by SolarisBank – the leading banking platform in Europe with a full German banking license.
Free debit card. You’ll receive an exclusive metal debit card once you sign up for a Vivid Standard or Vivid Prime account.
Link your existing cards. You can link up to 2 physical cards and 3 virtual cards to your Vivid Money account.
Convenient payments. Paying with Vivid Money is quick, simple and free. You can make instant transfers and payments without any extra fees. You can also set up scheduled payments, standing orders and direct debits from the Vivid Money app.
You’ll earn cashback of up to €150 per month from Prime Cashback, Super Deals and Champion programs. This cashback will automatically go to your Stock Rewards Pocket, allowing you to invest them in your preferred company stocks.
You can invest in more than 1,000 US and EU stocks and ETFs with as low as €0.01, with no commissions. Plus, you’ll get access to EUR to USD currency exchange at interbank rates with a low markup. You’ll also access your investment profits instantly.
You can invest in 10 crypto coins including Bitcoin, Ethereum and Litecoin with no extra fees. Plus, you can start investing with as little as €0.01 and get access to your returns instantly.
Spend analytics. The automatic categorisation feature lets you manage your expenses by breaking down your purchases by categories. You can also colour-code the categories to organise your transactions even better.
Budgeting tools. Set the limits for certain categories and receive notifications as soon as you exceed them to control your spending habits.
Referral bonus. You’ll earn €20 for each approved friend that joins Vivid Money through your referral link.
Super Deals Program. Earn up to €50 cashback for 8 weeks when you invite your friends to join Vivid Money. Your friend will also earn up to €50 for 4 weeks when they join through your referral.
24/7 customer support. You can use the 24/7 in-app live chat support in English, German and French. Or you can email the Vivid support team at [email protected].
Free cash withdrawals globally. You can withdraw up to €1,000 per month globally, without paying any fees.

Deutsch sprechen? Eröffne jetzt dein kostenloses Konto.
Fala Português? Abra sua conta gratuita agora.
¿Habla español? Abre tu cuenta gratuita ahora.
Parle français? Ouvrez un compte gratuit maintenant.
Parla italiano? Apri subito il tuo conto gratuito.

Vivid Money Account Types | Vivid Money Review

Signing up with Vivid Money, you can choose between 2 account tiers: Standard and Prime. Each Vivid Money account comes with different benefits and ultimately, different monthly fees.

Features	Vivid Standard	Vivid Prime
Account management fee	● €0 per month	● €9.90 per month (free for first 3 months)
Debit cards	● Physical metal debit card: First card free, subsequent cards at €20 each (maximum 2 cards) ● Virtual debit cards: €1 each (maximum 3 cards)	● Physical metal debit card: First card free, subsequent cards at €20 each (maximum 2 cards) ● Virtual debit cards: First card free, subsequent cards at €1 each (maximum 3 cards)
Finance management features	● Free German banking account ● Make global payments, money transfers and direct debits without any fees. ● Create up to 15 free Pocket accounts with separate SEPA-eligible IBAN ● Hold up to 40 currencies in separate pockets	● Free German banking account ● Make global payments, money transfers and direct debits without any fees. ● Create up to 15 free Pocket accounts with separate SEPA-eligible IBAN ● Hold up to 107 currencies in separate pockets
No-commission cash withdrawal	● Up to €200 per month	● Up to €1,000 per month
Currency exchange at interbank rates	● Up to 40 currencies available ● No limits for currency exchange	● Over 100 currencies available ● No limits for currency exchange
Cashback	● Up to €20 per month ● 10% from the Champion program	● Up to €100 per month ● 10% from the Champion program ● Up to 10% on popular personalised brands ● 3% on all purchases in restaurants and cafes outside of Europe ● 1% on all purchases outside of Europe ● 0.1% on all other purchases

Is Vivid Money Legit & Safe to Use? | Vivid Money Review

Vivid Money is a legit, regulated banking solution that safeguards your data and funds using enhanced security measures, including:

Deposit guarantee – German Deposit Guarantee Scheme (DGS) protects your funds of up to €100,000 that’s stored in your Vivid Money account.
Advanced security technology – the Vivid app has a range of enhanced security features, including 3D face recognition, fingerprint and PIN code authorisation to keep your account secure.
Secure, detail-free debit card – the Vivid metal card doesn’t feature any embossed or laser-etched card details, such as a card number, expiration date and CVV. This way, your money is still secured even when you lose the card.
Resettable virtual card details – your Vivid Money virtual debit card comes with card details that reset after you shop online using it.

Vivid Money Fees & Limits | Vivid Money Review

Monthly subscription fee	Vivid Prime costs €9.90 per month
ATM fees	3% fee for withdrawals below €50
Additional card fee	Physical cards come with a €20 fee each
Virtual card fee	Each Vivid virtual card costs €1
Vivid Invest fees	0.5% mark-up for the currency exchange rate

Vivid Money Pros & Cons | Vivid Money Review

Pros:

A convenient all-in-one mobile banking solution
Option to choose from free and paid membership
You can start investing with as low as €0.01
You’ll get cashback on your regular purchases

Cons:

Relatively high ATM withdrawal fee (3% for withdrawals below €50)
An investment account is currently only available to residents of Germany, France and Spain

How to Open an Account on Vivid Money? | Vivid Money Review

Opening an account on Vivid Money is a quick and straightforward process. All you need to do is visit the Vivid Money website and enter your phone number or email address to get started.

Alternatively, you can directly download an app on your smartphone (iPhone or Android) to start the sign-up process.

Once you’ve downloaded the Vivid Money app, you’ll be required to provide your personal information and verify your identity.

Who Can Open a Vivid Money Account?

Vivid Money is available for any EU resident, who’s at least 18 years old.

Verifying Your Identity

Due to banking regulations, backed up by Solarisbank and German Deposit Guarantee Scheme (DGS), you’ll need to verify your identity to join the Vivid Money platform.

The verification process may vary depending on several factors, including:

Your nationality
Your country of residence
The type of ID you use

But in general, after downloading and launching the Vivid Money app on your smartphone, you’ll be asked to verify your identity using video or photo verification.

Documents needed for video verification

Passport
ID card

Learn more about the document types accepted for video verification by country here.

Documents needed for photo verification

Documents eligible for photo verification depend on your nationality. Here’s the detailed list of countries within the EU and what type of document you’ll need to verify your identity:

Country of residence	Eligible documents
Austria	Passport / national ID
Belgium	Passport / national ID
Bulgaria	Passport / national ID
Croatia	Passport / national ID
Cyprus	Passport
Czech Republic	Passport / national ID
Denmark	Passport
Estonia	Passport
Finland	Passport / national ID
France	Passport / national ID
Greece	Passport / national ID
Hungary	Passport / national ID
Ireland	Passport / national ID
Italy	Passport / national ID
Latvia	Passport / national ID
Liechtenstein	Passport / national ID
Luxembourg	Passport / national ID
Netherlands	Passport / national ID
Norway	Passport
Poland	Passport / national ID
Portugal	Passport / national ID
Romania	Passport / national ID
Slovakia	Passport
Slovenia	Passport / national ID
Spain	Passport / national ID
Sweden	Passport / national ID
Switzerland	Passport / national ID

Note that since Vivid Money is an online banking solution, you don’t need to visit any physical branch to register. All procedures are done online.

In What Language Can You Verify Your Identity?

The language you can verify your identity in depends on whether you go through verification through video call or upload a picture.

If you go through the identity verification process via video call, you can do it only in English or German.

If you confirm your identity through pictures, you can complete the process in the language you’ve selected in your app – English, German, French or Spanish.

Downloading the Vivid Money App | Vivid Money Review

Vivid Money app is available for iPhone and Android smartphones.

Vivid Money Pockets | Vivid Money Review

What is a Currency Pocket?

A Currency Pocket where you keep your money for different purposes, including money for daily spendings and savings for something special.

While your Currency Pocket will be created in Euro by default, you can have your money in any other currency. If you’re a Vivid Prime member, there are 107 currencies available for you; as a Standard user, you can choose from 40 currencies.

You can create multiple pockets for different uses, or use the default Main Pocket for all your spendings with Vivid.

What Can You Do with a Currency Pocket?

Edit your pocket

Once you create your Currency Pocket, you can personalise it by adding your name and picture to it. Simply navigate to the Settings section of your Currency Pocket and make changes.

Top it up

In order to start using your Currency Pocket, you’ll need to deposit money on it by transferring money using IBAN or requesting money from another Vivid user.

You’ll find your bank requisites in the settings section of your Currency Pocket. Euro account requisites are also available in your profile section.

Transfer money

If you already have money in your Vivid Pocket, you can move it between different pockets by tapping the Transfer button inside the Currency Pocket.

Link your cards

To make payments using your existing physical or virtual card through Vivid, you’ll need to link it to your Vivid account.

When you purchase using your Vivid-linked card, Vivid will first charge you from the pocket with the currency that’s equal to the currency of the requested operation. If you don’t have enough funds in the current pocket, they will then charge your Euro account – the main pocket. In case funds are still insufficient, the authorization will be declined.

Add & exchange currencies

You can add and hold several currencies in your Currency Pocket. For Vivid Prime members, there are 107 currencies available while Standard users can choose from 40 currencies.

The Live exchange rate is automatically applied when you buy or sell any currency within the Vivid Money app.

Note that in some cases – e.g. when the currency markets are closed – you’ll be charged a small mark-up fee.

Share your pocket

You can invite your friends who are already Vivid users to your pocket to save and spend your funds together.

To share your pocket, simply tap the Give Access button within your Currency Pocket section and select the person you’d like to invite.

Investing With Vivid Money | Vivid Money Review

Opening an Investment Pocket

To open an investment pocket, you need to have an active Vivid Money account first.

If you’re a Vivid Money member already, simply click on “new pocket” and select an “investment pocket” in the pocket type field.

Once you do that, you’ll need to go through a short questionnaire about your investment knowledge, experience and goals.

In Which Countries Are the Investment Services Available?

Investment services are currently only available to residents of Germany, France and Spain. However, the company plans to expand its investment option to other countries in the EU and EEA.

Crypto Pocket | Vivid Money Review

In Which Countries is the Crypto Pocket Available?

Vivid Money currently only provides cryptocurrency services to taxpayers in Germany, Spain, France and Italy.

However, the company plans to expand its crypto services to other countries in the EU and EEA in the future.

What Cryptocurrencies Does Vivid Money Support?

With Vivid Money, can invest in 10 of the most popular cryptocurrencies, including Bitcoin, Litecoin and Ethereum.

Fractional Coins

With Vivid Money, you can start investing with as low as €0.01. This is possible only because Vivid offers fractional coins.

But what does fractional coin mean? Fractional coins aren’t real crypto coins, rather an investment product that allows you to invest in cryptocurrencies. This way, you can invest in just a fraction of the coin while benefitting from its price changes as you would in case you’ve invested in a regular coin.

Vivid Money Customer Support | Vivid Money Review

Vivid Money offers 24/7 customer support which you can reach out in 2 ways:

In-app live chat
Email at [email protected]

The customer support is available in English, German and French languages.

Vivid Money Review Verdict: Is Vivid Money Worth it?

Overall, Vivid Money is an excellent platform for when you’re looking for an all-in-one banking solution. The app is especially beneficial for frequent travellers, shoppers and people considering getting started in investments.

What’s good, Vivid Money tries to offer customized solutions for anyone. As a result, the Vivid Standard plan offers a range of benefits without any fees. However, the Vivid Prime account rewards you with higher cashback bonuses, higher fee-free withdrawals and access to more foreign currencies.

After all, Vivid Money currently offers a 3-month free trial for when you first join the platform. You can leverage these 3 free months of membership to decide whether Vivid Money is a platform you can benefit from in the future.

Vivid Money FAQs | Vivid Money Review

Does Vivid Money offer a free trial?

Yes, Vivid Money offers a free 3-month Vivid Prime trial, allowing you to try out all of the Prime membership benefits.

What happens after my trial period for Vivid Prime ends?

After your trial period for Vivid Prime ends, you’ll have 2 options:

Either continue as a Vivid Prime member for €9.90 per month
Or downgrade your account and continue as a Vivid Standard member for €0 per month.

If you decide to upgrade to Vivid Prime, you can do it directly from the app at any time.

How long do incoming transactions take?

Incoming transactions usually take 1 business day to set into your account. However, transaction time may vary depending on the payee’s bank, because of the different working hours each bank may have.

For example, if your friend sends you money on Friday at 9 pm, you’ll receive it on Monday or Tuesday depending on when your friend’s bank will process the transaction on their end.

Alternatively, if your friend sends you money on Wednesday at 7 am, you may receive it by evening but at the latest on Thursday.

Can I delete a currency from a pocket?

Absolutely! If you no longer need the selected currency in your pocket, you should follow the steps below:

Select the pocket with the currency you want to delete
Swipe the currency you want to delete to the left
Tap the “Delete” button
Confirm that you want to delete it

Note that you can only delete a currency if its balance is 0. If you have some funds, Vivid will remind you to transfer them to another pocket or exchange it for another currency.

In case you delete all currencies from a pocket, your pocket will be closed.

Why can my Investment Pocket opening be rejected?

There are a few reasons Vivid Money may reject your application for an Investment Pocket, such as:

You’re not a resident and taxpayer in France. While Germany and Spain’s residents are also eligible for opening an Investment Pocket, Vivid only accepts a few applications from these countries.
Based on the answers you’ve provided in the questionnaire while opening your Investment Pocket, Vivid may reject your request.
Vivid conducts a check about money laundering on all members who request opening an investment pocket. Respectively, you may be required to provide additional information or documents. It may also happen that Vivid is required by law to reject your application regarding opening an Investment Pocket for you.

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