There are misconceptions about Iban Wallet that have build up over time and need to be broken. It should be clear to everyone that Iban Wallet offers investment products. It is not a savings account neither a current account.
Iban Wallet is not a P2P Platform
Iban Wallet acts as an intermediary in the lending process. Because of this, it is sometimes possible to fall into this common misconception.
Here is a step by step breakdown of the investment process:
- Investors deposit their money on Iban Wallet;
- With these funds, Iban Wallet provides capital to Loan Originators;
- These Loan Originators have already issued and underwritten the loans at this time;
- With the interest rate earned from the loan originator, Iban Wallet is able to pay the rates offered to investors and earn money to fund its operations.
Which is to say, there are no projects waiting for these funds in order to get kicked-off. What Loan Originators do is allow for credit rights to be purchased. In short, the returns investors make come from the purchase of credit rights, technically known as “credit receivables”.
I hope this information clarifies how Iban Wallet positions themselves within the fintech ecosystem.
Iban Wallet is not a Bank
As Iban Wallet is not a bank, therefore, funds invested through Iban Wallet are not covered by any deposit guarantee scheme. So what this means for investors money?
First, all funds transferred to Iban Wallet are deposited in an Electronic Money Institution (EMI), which is regulated by the European Central Bank and compliant with the financial regulations implemented throughout the EU. But have in consideration that Iban Wallet activity is not regulated so Iban Wallet remains out of the regulators scope.
Second, Iban Wallet follows several risk-mitigation measures to keep funds safe, but it is impossible to guarantee returns with 100% certainty. For example, all loans tied to an investment are asset-backed. This means that there is property or assets that can be sold in the case of a default. Moreover, all investments made at Iban Wallet are tied to the performance of an aggregated collection of loans, and not to any individual one, providing protection through diversification. But even so, also this can fail.
Third, Iban Wallet audits and tracks several Loan Originator metrics on an ongoing basis to ensure the practices of their partners, but this information is not available to the public, making it more difficult to accept marketing communications without external audit.
So, after reading this, you are aware that your capital invested through Iban Wallet is at risk. And to push even further this idea, a final note to remember a hard lesson:
“Past performance is no guarantee of future results!”
Iban Wallet Promotion for June 2020
Any new investor will get an extra 1.5% projected interest. All you need to do is to use the promocode TOP on your first deposit in Iban Wallet, regardless of the amount. This way you will start with a projected 4% instead of 2.5% on your first investment. This offer is available until June 30th.
Make sure to add the referral code – RCARLOS3EG8D – when creating your account!
Special First Deposit Bonus:
Upgrade your first deposit with iban Wallet and enjoy a projected 3.5% interest rate by using the code FIRST1.
Note: this is a bonus which has a minimum deposit amount to be activated, this code needs to be inserted after the registration process, in the top up the account step.