At iuvo, we pay utmost attention to the convenience of our users and always make sure that each step of the investment process is quick and easy. This is also true for the depositing and withdrawing of funds. We`ve made the processes intuitive and easy to follow, but with this article, we`d like to make sure that everything is clear and guide you through the specifics of the process.
Making a Deposit
Making a deposit is an easy process, but there are some things you need to consider depending on the currency you`d like to deposit in and other variables concerning your bank account.
Currently, you can deposit funds in EUR, BGN, and RON, so you need to decide which one works best for you as you won`t be able to change it later on.
To make a deposit first, you need to click on the “Add Funds” button, located conveniently in the upper right corner of your “Dashboard” page. After that the corresponding steps are explicitly listed, explaining in detail exactly what you need to do.
The general deposit method for funds in EUR and BGN is via a bank transfer to one of our accounts at Allianz or Swedbank
You can use the following types of bank transfer:
– Inter-bank transfer
– Intra-bank transfer (if you have an account at the corresponding bank)
– Depositing location at a bank branch
It is important to note that bank taxes may be on the higher side when depositing EUR and furthermore, some banks might have additional fees for incoming deposits.
If you`d like your account to be in a currency different than EUR or BGN you have to use an external service. All details regarding this step are listed in the “Add Funds” page. Also, have in mind that to start investing you`ll have to verify your account by uploading a copy of an identification document.
If you are planning to deposit RON you should consider the following:
Thanks to our partnership with the Romanian originator iCredit, we are now also able to provide excellent investment opportunities in RON. For that purpose, any user who wants to deposit RON must add funds by using an external service instead of bank transfer.
For that purpose, we recommend using Pay Sera, an efficient, low-cost service which enables you to make payments in different currencies. Creating an account is very easy and takes no time at all. We recommend the service even if you want to deposit EUR or BGN, but it`s also useful for making all sorts of payments.
When depositing RON via Pay Sera, you should state “IUVO” as the basis for making the payment and also provide the following information:
IUVO Investment Number: – EVP6210002572095
ID: XXXX (Provide your account number here)
Other similar services which you can use, and we recommend are Transferwise, Revolut, and Currencyfair. The benefit of depositing using such a method is that you avoid the high taxes related to bank transfers. Furthermore, once you have an account at one of the abovementioned services you can deposit funds anytime, at your convenience.
It is a general requirement for any investor to provide a bank account of his own and for that reason, certain verification is required. Any user who wishes to deposit funds using a non-bank transfer should provide the appropriate documentation, proving that he is the actual owner of a personal bank account.
Such documentation can be either of the following, as long as your name and IBAN are visible:
– Bank statement
– Payment order
– E-Banking Screenshot
To upload a verification document, you should go to the profile menu, click on the “Documents” button, located in the upper left corner and attach the necessary documents.
After completing the depositing procedure, you should receive an e-mail signaling that funds have been added to your account. All you need to do after that is verify your account, and you`re all set to start investing.
Withdrawing funds is an essential process associated with investing, and it can even be said that it is the final goal of the process. Compared to making a deposit, withdrawing is a lot simpler and can be done at any point in time for any funds that are not currently invested in loans.
To make a withdrawal, you simply need to go to the “Dashboard” page and click on the “Withdraw” button located in the upper right corner, right next to the “Add Funds” button. There you need to fill in the required information and submit the request.
Note that to be able to withdraw funds you will have to verify your address by providing an appropriate document such as a utility bill.
All other details regarding the withdrawing of funds, such as withdrawal amounts, fees and processing time are fully described in the dedicated FAQ section.