Edit: insolvent https://app.getquin.com/activity/UanzHbzDhK
Maybe ๐๐ข๐ ๐งรค๐๐ก๐ฌ๐ญ๐ ๐๐๐ฎ ๐๐ข๐ will be ๐๐ฎ๐ซ๐๐ก ๐๐จ๐๐ข๐๐ฅ ๐๐๐๐ข๐ ๐ ๐๐ญ๐ซ๐ข๐๐๐๐ง by finfluencers: ๐๐๐ฃ๐ฉ๐๐ ๐พ๐๐ง๐. 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 ๐ ๐ฟ๐ฟ๐๐ ๐๐บ๐๐พ ๐ฏ๐๐๐๐๐บ๐๐ ๐๐๐ ๐๐ ๐ฃ๐พ๐๐พ๐๐ป๐พ๐ ๐๐พ๐๐๐บ๐๐๐พ๐ so it's probably only a matter of time before the stuff hits somewhere.
The ๐๐จ๐ง๐ณ๐๐ฉ๐ญ is as simple as it is stupid, you get ๐๐ญ๐ฐ๐๐ฌ ๐ ๐๐ฌ๐๐ก๐๐ง๐ค๐ญ that you get ๐ ๐ฅ๐๐ข๐๐ก ๐ฐ๐ข๐๐๐๐ซ ๐ฐ๐๐ ๐ ๐๐ง๐จ๐ฆ๐ฆ๐๐ง.
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. ๐๐๐ข ๐รผ๐ง๐๐ข๐ ๐ฎ๐ง๐ ๐ฏ๐๐ซ๐รค๐ฅ๐ฅ๐ญ ๐๐๐ซ ๐๐ง๐ฌ๐ฉ๐ซ๐ฎ๐๐ก ๐๐ฎ๐ ๐๐ข๐ ๐๐ง๐ ๐๐ฌ๐๐ฆ๐ฆ๐๐ฅ๐ญ๐๐ง ๐๐๐ญ๐ซรค๐ ๐.
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 These contributions can be withdrawn at any time.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/
