UnitPlus
Experiences, reviews and information about the provider
Details
Pros
- ETF investing and payment function combined in one app
- Debit card with which you can pay directly from the invested assets
- Cash balances at the partner bank protected by EU deposit protection up to €100,000
- Low entry hurdle with no high minimum investment
Cons
- No BaFin licence of its own as a bank or securities institution
- Investor compensation for securities via Belgium limited to €20,000
- Dependence on a foreign partner bank
- Limited product selection compared with traditional depots
Fact sheet: UnitPlus
| Company name | UnitPlus |
| Founded | 2021 |
| Headquarters | Berlin |
| Country | 🇩🇪 Germany |
| Type | fintech |
| Website | unitplus.eu * |
About UnitPlus
UnitPlus was founded in Berlin in 2021 by Fabian Mohr, Kerstin Schneider and Sébastien Segue; the legal entity is UnitPlus InnoInvest GmbH, based in Berlin. The special feature of the offer is the combination of securities investment and payments: customers invest in ETF portfolios and can pay directly from the invested assets with an associated debit card. UnitPlus has no banking or securities trading licence of its own and operates in Germany as a financial investment intermediary (permit under section 34f GewO, IHK Berlin) and is also registered with BaFin (the German financial regulator) as an account information service provider. Account and depot management is handled by Aion Bank S.A., a Belgian bank with a German branch, which is also overseen by BaFin under section 53b of the German Banking Act (KWG); cash balances are protected there by the harmonised European deposit protection (Einlagensicherung) up to €100,000. Securities are held by Aion Bank, in part through a sub-custodian, and are customer property; the additional Belgian investor compensation is limited to €20,000.
Special features
- Legal entity is UnitPlus InnoInvest GmbH, Berlin
- Partner bank is Aion Bank S.A. with a German branch
- Registered in Germany with BaFin as an account information service provider
- Combination of investing and everyday payments as a unique selling point
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