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Finary Invest IBAN's update
Finary Invest IBAN's update
Florimon Giacobi avatar
Written by Florimon Giacobi
Updated over a week ago

Finary uses the services of Fiat Republic, a company incorporated under Dutch law, which creates IBANs for each Finary user via the ModulR Electronic Money Institution (EMI).

Fiat Republic is updating its services and is now working with BankingCircle, a bank incorporated in Luxembourg.

What is an IBAN? And why is it changing?

IBAN stands for International Bank Account Number. It is an internationally recognised code of up to 34 letters and numbers that helps banks process transfers worldwide. We are changing your deposit IBAN because our banking partner is upgrading its accounts.

Where can I find my new IBAN details?

To find your new deposit IBAN:

  • Log in to your Finary account on the mobile app.

  • In the Invest tab, click on the ‘Deposit’ button.

A window will appear asking you to confirm your acceptance of this new deposit IBAN.

Without your acceptance, the deposit IBAN cannot be generated and you can no longer deposit funds.

  • You will then see the IBAN that can be used to pay money into your Finary Invest account;

  • If you still see your old IBAN starting with FR, please update your app to the newest version.

Please note that your old IBAN starting with FR will no longer be displayed once it has been changed.

What will happen to my current IBAN?

Until now, the IBAN you used to deposit funds began with FR or GB. As part of this changeover, we will assign you a new IBAN, starting with ‘DE’, to replace your old IBAN. All future deposits must use this IBAN.

What should I do after changing my IBAN?

  • If you have recurring payments in euros from your bank to your Finary Invest account, please ensure that you update your beneficiary with the new IBAN.

  • It is essential that you do this so that future payments can be processed correctly.

Any deposits made after the change of your IBAN will not be successful, and your funds will be returned to your bank account within 15 to 30 days.

I made a transfer to my old IBAN after it was replaced, what will happen?

  • You will still be able to receive payments on your old IBAN starting with FR or GB until 20.05.2024.

  • After this date, any deposits to your old IBAN will be returned to your bank account within 15 to 30 days.

How will the DE deposit IBAN impact my taxes?

This IBAN might need to be declared in your 2025 tax return, it is quick, and has no negative impact on your tax declaration.

  • Your DE deposit IBAN you can find in your Top Up information

  • BIC: SXPYDEHHXXX

  • BANK: Banking Circle S.A., Luxembourg, Luxembourg

  • Address of the german entity: Maximilianstrasse 54, 80538 Munich, Germany

As every situation is unique, please check with your tax advisor!

Can you tell me in advance what my new IBAN will be?

  • Unfortunately, we can only tell you your new account number once we have allocated it to you. The generation of these numbers is partially random and entirely automated. This means that we can only issue this account number on the date of the change.

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