Advanzia Bank Lux Paying 3.97% AER Instant Access for First 3 Months

I signed up to this and was approved but am extremely unnerved by both their sign up and lodgement processes.

After emailing them your sensitive personal data, you just get a plain email with an IBAN for your deposit. It all looks so...amateur.
 
Noodler said:
I signed up to this and was approved but am extremely unnerved by both their sign up and lodgement processes.

After emailing them your sensitive personal data, you just get a plain email with an IBAN for your deposit. It all looks so...amateur.
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It's a bit amateurish alright. Someone said their main site is more professional but this "German" version to attract other EU residents is slapped together pretty shoddily. Not even english version when you're set up to check your balance etc, only German!

Having said that, I'm with them and relying on the Lux depositors guarantee, otherwise I wouldn't be with a bank I know nothing about in the first place.
 
Lightning said:
Advanzia Bank Luxembourg is paying 3.25% AER Instant Access for the first 6 months.

Details:
- No fees.
- Minimum opening balance: €5,000.
- Interest paid monthly
- €100,000 Lux deposit guarantee applies.
- No higher amount cap with the rate.
- Rate reduces to "standard rate" of 1.1% after 6 months.
- Offer open all EU residents.
- Offer apparently expires with new applicants after 30 June 2023.

English website: https://www.advanziakonto.com/Home_EN

I will add this to the best buys thread but make it clear that it is a promo short term rate.
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Witholding tax etc?
 
irishfinanceguy said:
Witholding tax etc?
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"The interest income will be credited to your Advanzia account on a monthly basis without charging any taxes (Exception: customers with country of residence Luxemburg). Due to the automatic exchange of information, Advanzia bank is required to automatically transfer this information on a yearly basis to the competent tax authorities."
 
RedOnion said:
"The interest income will be credited to your Advanzia account on a monthly basis without charging any taxes (Exception: customers with country of residence Luxemburg). Due to the automatic exchange of information, Advanzia bank is required to automatically transfer this information on a yearly basis to the competent tax authorities."
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On instant access this appears the best deal or bff 6 month term for 4%
The advanzia and bff kings - long may it last
 
To test things out with advanzia, I transferred €1 into the account. The 1 euro showed up on their website. I tried to withdraw the same 1 euro and it didn't work.
Retried second time and the euro is still in the advanzia account.

Did anyone get to withdraw money successfully?
 
Xelfyou said:
To test things out with advanzia, I transferred €1 into the account. The 1 euro showed up on their website. I tried to withdraw the same 1 euro and it didn't work.
Retried second time and the euro is still in the advanzia account.

Did anyone get to withdraw money successfully?
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I did the same test, and it worked without issue.
 
Could somebody please confirm the correct website address for Advenzia Bank Luxembourg.. Does it still pay 3.6% and is it just for first 6 months? I was thinking of opening a deposit and hope there are no downsides. I already have an account with Raisin.ie and Bunq.
 

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Als online Direktbank bieten wir Ihnen die gebührenfreie MasterCard Gold und ein attraktives Tagesgeldkonto. Advanzia Bank S.A. Ihre Direktbank für transparente und attraktive Produkte.
www.advanziakonto.com www.advanziakonto.com

Yes, the AER is 3.66% for the first 6 months.
 
Anyone have problems registering for the online banking? Keeps telling me the credentials used to register aren't correct, though I've reset the password several times and am 100% it and the account number are correct.
 
Xelfyou said:
To test things out with advanzia, I transferred €1 into the account. The 1 euro showed up on their website. I tried to withdraw the same 1 euro and it didn't work.
Retried second time and the euro is still in the advanzia account.

Did anyone get to withdraw money successfully?
Click to expand...
nest egg said:
I did the same test, and it worked without issue.
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They eventually transfered the €1 to me. Slow.
Thanks
 
Coldwarrior said:
Anyone have problems registering for the online banking? Keeps telling me the credentials used to register aren't correct, though I've reset the password several times and am 100% it and the account number are correct.
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I think someone told me that you can re-register i.e. click on "mein.konto - Registrierung" and start again with your account number and set it up.
 
It will be interesting when we find out around December, if the first deposits rolled in during June, what will happen with the interest rate after the 6 months. Whether they will simply drop it to the low "standard" rate of 1.61% as they say, risking an outflow of the deposits they presumably wanted to attract and keep, or take steps in advance to ensure that such outflows don't occur. I'm certainly out if it drops to 1.61%, and hopefully AIB etc. will have something better to offer at that point if recent news is true about domestic rates.
 
Has anyone successfully withdrawn money back out of Advanzia and received the monthly interest etc? They say the minimum deposit is 5k, I'm hesitant to risk 5k to an entity who's online operation seems so amateurish and out-dated.
 
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Coldwarrior said:
Has anyone successfully withdrawn money back out of Advanzia and received the monthly interest etc? They say the minimum deposit is 5k, I'm hesitant to risk 5k to an entity who's online operation seems so amateurish and out-dated.
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Advanzia lost both my (electronically submitted on their system and confirmed by them) application and the identity documents sent to them by registered post. After a lot of time spent chasing this with their so-called "support" I came to the conclusion that I wouldn't trust them with with the small change needed when going to the shop for messages, nevermind a five or six figure sum of euros.
 
Coldwarrior said:
Has anyone successfully withdrawn money back out of Advanzia and received the monthly interest etc? They say the minimum deposit is 5k, I'm hesitant to risk 5k to an entity who's online operation seems so amateurish and out-dated.
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I have done this without any issue. I withdrew money and it was back in my Irish bank account within 3 hrs. Interest statements are available on the portal after 2-3 days. I've had no problems in the couple of months I've dealt with them.
 
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