To ensure you can trade safely and smoothly with BISON, we do not manage your money ourselves but work with licensed partner banks in Germany to manage your Euro settlement account. Here you can find out where your money is held and how it is protected.
Banking Partners: Where is my Euro balance held?
Depending on your setup and the BISON features you use, your Euro balance is held in trust for you at the following regulated partner banks:
Solaris SE & Deutsche Bank AG: Your general Euro balance for trading cryptocurrencies as well as your regular deposits and withdrawals are processed either through Solaris SE or Deutsche Bank. (When you deposit or withdraw money, you will therefore see these banks as sender/recipient and not BISON).
Sutor Bank GmbH: If you have additionally activated securities trading (stocks/ETFs) at BISON, a separate settlement account for these transactions is managed in the background with our partner Sutor Bank.
Tip: You can check which banking partner manages your primary crypto account anytime in the BISON app under "Account" -> "Account Information".
Information on account statements can be found under Where can I find the account statement for my EUR settlement account?
Solaris SE is an established, licensed banking service provider in Germany. As one of our banking partners, Solaris SE is responsible for payment processing and managing your free balance account at BISON.
The Sutor Bank GmbH is an established German private bank. As the custodian bank for securities trading at BISON, it is our banking partner. Through Sutor Bank GmbH, orders are placed on the stock exchange as part of the financial commission business.
Is there a deposit guarantee for my money?
Yes, absolutely. Since our partners are fully licensed banks regulated in Germany, your Euro balance held there is subject to the statutory deposit guarantee.
Your Euro balance is legally protected up to a maximum coverage limit of 100,000 euros per depositor and credit institution.
This applies to your deposits with Solaris SE, Deutsche Bank, as well as the securities settlement account with Sutor Bank.
Reminder: This statutory deposit guarantee applies exclusively to your Euro balance (fiat). There is generally no such statutory protection for cryptocurrencies; instead, these are protected via our special fiduciary security concept.
Further information on the statutory deposit guarantee can be found here: https://einlagensicherung.de/einlagensicherung/
Proof & Costs: Do I have to pay for the account?
No. BISON does not charge any account management fees, negative interest, or custody fees for your Euro balance on your settlement accounts. If your account is managed by Solaris, we provide you once a year (usually at the beginning of the year) with an "Information sheet for the depositor" and a "Balance notification" in your BISON Postbox, which officially confirm the protection of your funds and your account balance at the turn of the year.
Questions or problems?
If you have further questions regarding our multi-banking strategy, please contact us directly via our contact form.