Since our launch in Italy back in April 2021, we’ve heard that our Italian customers find it sometimes difficult to receive their salary, make bank transfers or even set direct debits to their Vivid Money accounts.
As we strive to provide our best service to our customers, we’ve decided to offer Italian IBANs to our new customers living in Italy.
What does this mean?
From now on, only our new customers opening an account from Italy will have an Italian account. That’s right, your IBAN will consist of 27 characters. The 2-letter country code IT, 24 digits and 1 letter as opposed to the 22-character German IBAN we were previously offering.
What are the advantages of having an Italian IBAN?
Your account will be 100% Italian and as such, you will be able to:
Pay your memberships using your Vivid account.
*Make and receive transfers from another Italian account stress free.
Receive your salary and benefit from the pros coming from our Cashback and Super Deals programmes when paying with your Vivid card.
And don’t worry about account fees. We keep the same prices of our plans (€0.00 for our Standard plan and €9.90 for our Prime plan per month).
Did you open your Vivid Money account prior to 25 October 2021?
If so, your IBAN is German and all the new Pockets you create will have a German IBAN as well. At least for now. We’re working hard to offer the Italian IBAN to our existing customers. We’ll keep you posted!
Are there any changes to the existing Terms and Conditions?
Yes, new Terms and Conditions for all our Italian residents will come into effect on January 15, 2022. No action is required from your side to accept the changes - they aren’t detrimental to you as a client and don’t have an impact on fees. Most of the changes in the updated T&Cs are minor legal adjustments as Vivid Services in Italy will be subject to Italian law.
*We’ve contacted the largest banking institutions and made sure that they updated our new BIC in their systems for you. In the event of facing an issue, please reach out to the receiving institution and ask them to have the BIC added to their system.