Edit: insolvent https://app.getquin.com/activity/UanzHbzDhK

Maybe 𝐝𝐢𝐞 𝐧ä𝐜𝐡𝐬𝐭𝐞 𝐒𝐚𝐮 𝐝𝐢𝐞 will be 𝐝𝐮𝐫𝐜𝐡 𝐒𝐨𝐜𝐢𝐚𝐥 𝐌𝐞𝐝𝐢𝐚 𝐠𝐞𝐭𝐫𝐢𝐞𝐛𝐞𝐧 by finfluencers: 𝙑𝙖𝙣𝙩𝙞𝙠 𝘾𝙖𝙧𝙙. So you know the stuff if you see it.

Whether promos are running for the card yet, no idea. But I wouldn't be surprised if something like that comes. Probably then with ingenious slogans like "when shopping for the age provide". Their 𝖠𝖿𝖿𝗂𝗅𝗂𝖺𝗍𝖾 𝖯𝗋𝗈𝗀𝗋𝖺𝗆𝗆 𝗂𝗌𝗍 𝗂𝗆 𝖣𝖾𝗓𝖾𝗆𝖻𝖾𝗋 𝗀𝖾𝗌𝗍𝖺𝗋𝗍𝖾𝗍 so it's probably only a matter of time before the stuff hits somewhere.

The 𝐊𝐨𝐧𝐳𝐞𝐩𝐭 is as simple as it is stupid, you get 𝐞𝐭𝐰𝐚𝐬 𝐠𝐞𝐬𝐜𝐡𝐞𝐧𝐤𝐭 that you get 𝐠𝐥𝐞𝐢𝐜𝐡 𝐰𝐢𝐞𝐝𝐞𝐫 𝐰𝐞𝐠𝐠𝐞𝐧𝐨𝐦𝐦𝐞𝐧.

Vantik promises 1% cash back on all purchases, which is then invested for retirement. Now you don't need to be a math genius to work out that with usual sales, 1% doesn't come out to much. No matter.

How is the money invested? It ends up in a fund and can only be paid out at the age of 55 or at the start of a pension. Either as a lump sum or as a conversion into a monthly pension. 𝐁𝐞𝐢 𝐊ü𝐧𝐝𝐢𝐠𝐮𝐧𝐠 𝐯𝐞𝐫𝐟ä𝐥𝐥𝐭 𝐝𝐞𝐫 𝐀𝐧𝐬𝐩𝐫𝐮𝐜𝐡 𝐚𝐮𝐟 𝐝𝐢𝐞 𝐚𝐧𝐠𝐞𝐬𝐚𝐦𝐦𝐞𝐥𝐭𝐞𝐧 𝐁𝐞𝐭𝐫ä𝐠𝐞.

In addition, the customer has the option to invest directly in the fund. These contributions can be withdrawn at any time.

For whom the concept does not yet add up. Fooling people into thinking you are giving them ~1% while taking it back in fund fees. Even though the fund itself only invests in ETF. Then collect even more money from the new clients directly, more assets under management, thus more fees, thus fatter salary.

Frank Thelen would open his pants, because scaled.

Congratulations to anyone who has read this far. Secret code for the comments: I'm smart and make my own provisions for old age. A few more details. The stuff is special assets, so if the custodian BNP or Vantik are gone the money is not gone. There is also somehow a foundation that gets 1% of the deposits and thus should somehow form a safety buffer. Because spooky scary stock market could crash 1 day before retirement. Then you get to submit a begging letter to the foundation. "Beneficiaries may apply for a financial contribution in writing to the Vantik Foundation using the "Foundation Contribution Application" form." [1]

For those who want it very detailed, the cap for debit cards is 0.2%, so there is a 0.8% "gift". 0.9% TER goes away in the fund, the difference from the fund to the ETF in the fund is about 0.6%. In addition, there is still the 1% for the foundation. Likewise, especially with a later conversion into a monthly pension, not insignificant money should remain.

No recommendation link, because stupid: https://vantik.com/

[1] https://assets.website-files.com/5ebb1222c39f120c8a51b3b6/5f7335e8c605cb79a9eea66b_Satzung%20Vantik%20Stiftung.pdf