Iban Wallet Review [⚠️Beware]

Iban Wallet Review

You are going to read everything about Iban Wallet

The ugly truth and all you need to know

Iban Wallet is not a deposit account. Period.

Iban Wallet is quite new, it is a “hands-free” investment service, but (☢️warning) there are a lot of things to know.

I am NOT investing here!



Iban Wallet is a website and an Android / IOS application that allows me to invest in (theoretically) buyback guaranteed loans. The news is that I don’t even see the loans, I just get the interests. So I don’t have to deal with selecting the lenders, make sure they offer buyback guarantee, pay attention to the duration, and so on. On Iban Wallet I just get the interests from 2,5% up to 6% on the Iban account.

Since I am passionate about investing, I prefer to buy the loans myself because I know how to do it. But I understand that Iban Wallet solves the problem of those who do not have time to manage investments.

What’s the return on Iban wallet?

Iban Wallet offers three investment opportunities:

  1. Iban account 2.5% per year
  2. Iban One 3% per year
  3. Iban Market 4% per year
  4. Iban Dynamic 6% per year

Interest is credited daily and reinvested. “Iban Dinamic” 6% works slightly differently from the other 3. I am not testing it and it starts from a minimum of 50.000€ for a minimum of 5 years. Not for me. I would never get my money blocked for 5 years in such a new tool. I will only tell you that on “Iban Dinamic” the interest is credited every day, but it goes immediately to the Iban Account. So the “dynamic” is the only one to provide passive income (or whatever you want to call it) since it provides immediate liquidity from the interest generated (6%). Basically, the interest is not reinvested with “Dynamic”.

Should I invest 50.000€ with the Iban Dynamic I can expect a passive income flow of approximately 250€ a month.



They use the Annual Equivalent Rate. This is the interest I earn if I keep the investment for a whole year. The AER is designed to facilitate the comparison between the various savings accounts and takes into account compound interest (interest on your initial investment plus any other interest previously accumulated). For example, if I deposit 1,000€ into my Iban Account, taking into account that the AER is 2.5%, if I never withdraw, after one year I will have 1,025€ i.e., 1,000€ + ((1,000/€)*2.5%)). That’s all. No complicated stuff. The next years, if I don’t withdraw, the interest starts to be exponential because it will be calculated on the previous amount plus the interests accrued (compound interest).

On the Iban Wallet website I can play with a compound interest simulator. This is a brutal example of what could happen to 250.000€ invested on Iban Wallet fo 29 years. Too good to be true? Not really. It is just math..and trust it the tool.   Compound interest works on any amount, it doesn’t depend on the amount invested. it works the same on both 1€ and 1.000.000€. 50.000€ on Iban Account (or any other tool with the same interest rates) turns into:

  • Iban account €104,684
  • Iban One €121,094
  • Iban Market €161,693

(These are just projections, there is no guarantee of success when investing and you know that).



Iban Wallet is fin-tech platform that allows you to invest in P2P lending loans. They offer 4 products with different characteristic and terms. Therefore Iban Wallet is NOT a deposit account even if it looks like. Iban Wallet invests in loans subscribed by various loan originators (not disclosed yet) for me. In essence, by depositing and investing in Iban Wallet I get fixed returns without having to worry about what happens and how the platform works.

If I use Iban Wallet I decide trust what they do with my money without asking too many questions.  

Ibanwallet is NOT transparent on how they manage the money.


This is very hard to say.

Investing is never safe and I never invest more of what I am willing to lose. But how can it give me such high interest with no effort? I’ll explain it to you right now. Iban Wallet, did not disclose yet the names of the associated lenders (like a few other P2P websites), but on the other hand, the offer is quite straightforward. They declare to invests my money in loans secured by collateral (it could be a car or something else). They probably lend money at very high interest rates, they take the risks so they pay me with fixed interest of 2.5 to 6%. The returns are fixed but not guaranteed, otherwise it would be like a deposit account (and it is not). Money and interests are not guarantee when I invest and this is also the case.

Iban Wallet style is: “Take it or leave it.”

If I want a “hands-free” investment this makes sense, but I accept the risk of NOT knowing what is behind it.

If I like to manage my money ( and I know how to do it), I’d rather head to Mintos and similar tools to get peer to peer lending loans.

The success that the Iban Wallet is having, I believe is due precisely to the opportunity it offers to invest without having to think about anything. Clear agreements. Iban Wallet has an electronic money license (EMI) regulated by the European Central Bank, so if it fails, the money deposited and not invested would not be lost for sure. The invested money are not covered by any external guarantee.

100% of the loans on Iban Wallet are said to have a buyback guarantee (..this is their statement, not mine). Investors do not need to worry about the performance of the loans because they keep on receiving the fixed interest of their plan (2,5-3-4-6%) if everything goes fine.

Iban wallet also offers a tool called “Safeguard Trust”, a provision fund (details not disclosed yet) that should offer an extra level of protection (how?). In short, if all goes wrong I would still have to recover through the guarantee fund (…if the fund is large enough to cover the losses).

To date, everyone has always received the promised interest and the Safeguard Trust have not been yet needed or tested.

I always consider that I could lose what I have invested and complete safety is not achievable.

Iban Wallet is a company legally registered in Latvia and subject to the law of that country. The registration number is 40203215233. Postal address: Lāčplēša iela 87, Rīga, LV-1011 From the register: No current entries in the Insolvency Register 

The name of the company is “New Generation Market SIA” (2800€ is the capital of the company) and I’d like to know more about the people behind it but I cannot read Latvian on Lursoft.

From what I can read the shareholder is just one and he is a French-Afgan guy.

I have no elements to say if it is shady or not, but I’ll keep searching. Iban Wallet seems to have changed name a few times, and I’ve found information related to companies also called Iban and IbanOne.


The CEO during the crowdfunding times in London at Seedrs was Daniel Suero Alonso, here he is on LinkedIn.   The other team members are: Mark-Anthony Hurr  (CTO) and Pedro Freire.


Analyzing some negative opinions about Iban Wallet, I noticed two things. The name “IBAN” make people think it is a savings account. Well, it is not. Money is not guarantee like on savings accounts and interests are much higher.

I don’t believe it is “too good to be true”. It is just that I have to decide if to trust to tool or not. (I do not)

I am still free to go to other P2P websites and fine tune my portfolio picking. Most people who complain about Iban Wallet and have left negative opinion had not read that there are exit penalties in some cases (this is why I only like to Iban Account 2,5% tool and not the others). Exit penalities cannot be higher of the accrued interests. This is also fair.



Good question. No, Iban Wallet is not a deposit account even though you could use it in a very similar way and it is called “IBAN”. I repeat: Iban Account has nothing to do with a savings account. It is an investment tool.

The biggest difference between this and an ordinary deposit account is that the money invested is NOT protected according to the European guarantee fund rules up to €100,000 but only according to the guarantees offered by Iban Wallet itself.


Iban Wallet is an investment, so it involves risks.

Iban Wallet cannot guarantee the invested money if not just by using their safeguard and the buyback of the loans. It is good to read very well the terms & conditions before deciding to invest or call them on the phone.


72% of users who have an Iban Wallet experience on Trustpilot say they are very satisfied or exceptionally happy. So the average reviews on Iban Wallet that I find on TrustPilot are good. Who writes these reviews?

Most reviews come from people who have left only one review in their life.

Iban Wallet responds to all complaints. They also respond on Facebook, where reviews are mixed.


I couldn’t find any video worthy of interest on Youtube by Iban Wallet. What a shame. Since some time ago Iban Wallet was on Seedrs as an innovative project I found this video in English explaining the project:

In this video everything makes sense. Write what you think in the comments below.


The opinions on Iban Wallet in the specialized forums are reasonably good. Many obviously argue “too good to be true”. I don’t agree. Investing in loans and get 2,5 to 6% is not a miracle. If you think this is a bank account it may look too good to be true. But it is not a bank account. And it is quite shady.

Read more about IbanWallet


Iban Wallet is free. It is free to sign up, deposit, invest and spend. The smartphone app is free and management is free. The Iban Wallet credit card is also free (where available).  

  • If I use the basic account, the one called “Iban Account 2.5%”, I do NOT have minimum stay time, nor a minimum investment (1€).
  • If I use the “Iban One 3%” account I have to stay at least one year.
  • If I use the “Iban Market 4%” account I must stay at least 3 years.

Exit penalities cannot be higher of the accrued interests.  


I know that whoever has a credit card or current account, can invest. Iban Wallet is available in: Andorra Argentina Australia Austria Belgium Brazil Canada Chile China Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Japan Lithuania Luxembourg Malta Mexico Morocco Netherlands Norway Poland Portugal Romania Slovenia Spain Sweden Switzerland Taiwan United States of America



As far as I know I cannot say Iban Wallet is a scam, but there are a lot of warning lights.

For now and since it exists, it has always kept its promises. This is no guarantee for the future.

They say their business is to invest in loans, give us a fraction of what they earn in fixed income. As long as they can make ends meet, it works. I know it’s not a government guarantee or European guarantee deposit account, it’s an investment and risk is included.

Is it sustainable? I don’t know yet.

The “2.5% Iban Account” is the one from which it is easier (and free) to exit, but even with the other plans, premature exit cannot generate penalties greater than the interest I have accumulated.

It seems reasonable. Safe? I cannot say. They raised money on SEEDRS in the UK in 2016. Seedrs is a very reliable platforms for startup investing and if it was shady they wouldn’t have allowed them to raise money.

Things might have changed since then.

I don’t like they don’t show the office address on the website and the team members are somehow mysterious (but I’ve found them).

I’ve found the official office address anyway, it is in Germany:

Oberwallstraße 6, 10117 Berlin, Germany


The best & better (hands-free) alternatives to Iban Wallet are:

The Bondora “Go & Grow” makes 4% maximum.

The Mintos “Invest & Access” is variable from 8% to 10% and it is more suitable for large investors.  



This is just my point of view. Don’t trust me.

Keep searching and if not sure: do NOT invest.

What do you think of Iban Wallet?

Write it in the comments.

<div class="schema-faq wp-block-yoast-faq-block">
<div id="faq-question-1586161204946" class="schema-faq-section"><strong class="schema-faq-question">What does it means to invest with Iban Wallet?</strong><p></p>
<p class="schema-faq-answer">To invest with <a href="https://www.revenue.land/iban-wallet">Iban Wallet</a> constitutes an acquisition of claim rights for loan receivables.</p>
<div id="faq-question-1586161245180" class="schema-faq-section"><strong class="schema-faq-question">Is Iban Wallet a bank account?</strong><p></p>
<p class="schema-faq-answer">No. Iban Wallet is an investment.</p>
<div id="faq-question-1586161311471" class="schema-faq-section"><strong class="schema-faq-question">Is the investment guaranteed?</strong><p></p>
<p class="schema-faq-answer">No. The interests and the principal <a href="https://www.revenue.land/iban-wallet">are not guaranteed</a> (like most investments).</p>
<div id="faq-question-1586161370586" class="schema-faq-section"><strong class="schema-faq-question">Which is the best plan?</strong><p></p>
<p class="schema-faq-answer">All plans are different.The Iban account 2,5% has not minimum term and I am free to cash out money anytime.</p>

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21 thoughts on “Iban Wallet Review [⚠️Beware]

  1. Cláudio LA says:

    Hi! Nice explanation and comments.
    I’m an Iban Wallet user and with me all is working as expected.

  2. Michael Rwindski says:

    I’ve used Iban Wallet and it offers a great service. The investment I’ve made 2 years ago has yielded always a fixed return. I enjoy the fact deposits and withdrawals work quite fast.

  3. Al Cinder says:

    Thx for the info. Have you found ibanwallets works well to hold your cryptocurrency and gain the interest, send to your trading account and then back again as needed? Currently it states ‘no withdrawal fees’

    • Sal from Revenue Land says:

      Hi, here I report about ibanwallet (P2P lending) not ibanwallets (crypto). The Ibanwallet I mention here has nothing to do with cryptocurrencies and I am afraid you talk about the other one.

  4. Filipe Barroso says:

    What a EXCELLENT review. Really loved it! I am not yet an Iban wallet user, but I would like some more comments about people who invest in it!
    Keep up the great work

  5. Investcat says:

    You are right, they dont answer. I will not invest until I dont get a decent reply from them.

  6. Celsio says:

    hello, im a new member on platform and try to read all the note here, but my english is like a little bit bad. so 1 question here. i read about 2.5% interest and somthing about mobile app right. Q: i use a computer, “Does it mean the same for computer users?” (in the other plans the capital can be block for 1- 3 year) HELP PLEASE

    • Sal from Revenue Land says:

      Ibanwallet launched a promo for new customers with an extra 1% lately.
      The interest for the “IBAN account 2,5%” would be 3,5% for some months.
      Non there is no need to use the APP. A computer is fine.
      Never forget this is an investment that pays interests and not a savings account.
      The IBAN account does not block capital, but if I leave early I will not get the full interests.
      Even with the other plans I still can leave early and the exit penalty cannot be more of the accrued interests.

  7. Matthijs says:

    On “I’ve found the official office address anyway, it is in Germany”: note that this is just a co-working space, not a traditional office for IbanBank itself. Note also that IbanBank is officially located in the country Latvia – and strangely enough, it doesn’t offer it’s service to people from latvia.

    • Sal from Revenue Land says:

      Thanks for your contribution, Matthijs. That was the only address I’ve found and I also wonder why they do not offer loans in Latvia. It would be such a nice product for investors that are not willing to spend time in managing P2P loans portfolio.
      They are not transparent enough for now. I have too many questions unanswered. Mintos Invest & access and Go & Grow 4% are still best alternatives for totally hands-free investment.

  8. anonymous says:

    Just to mention that the company is actually from Spain (mostly Madrid iirc), and their digital/tech operation is from Lisbon, Portugal. (You can search LinkedIn job applications to confirm this). You can also check for opinions from employees at Glassdoor (https://www.glassdoor.com/Overview/Working-at-Iban-EI_IE2995865.11,15.htm)

    Having HQ in different EU countries is [unfortunately] typical for EU companies to avoid high taxes. There are quite a few HQ in the Netherlands due to this, Ireland, Luxembourg, Madeira (PT), etc.

    • Sal from Revenue Land says:

      Hi Anonymous, thanks for sharing these details.
      The company was founded by a Spanish guy but now it appears to be owned by a French/Afgan guy.
      It’s a pity the company has not answered yet to my questions about the management.
      I will share everything I know as soon as they give me (at least) the names of the team and a Linkedin profile to check it.
      I really liked the project at the beginning (so simple and straightforward) but now I am not so sure anymore.

  9. IamJean says:

    Thank you for writing this, you saved my money.
    I was about to invest but stopped by to search more information and found your blog. Great job, man,

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