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Nuri review (formerly Bitwala)
Here's what you need to know about Nuri in Germany.
Berlin-based Nuri (formerly Bitwala) is a bank account with a difference. In addition to managing your day-to-day banking needs, you can incorporate Euro and cryptocurrencies into one account.
Read on to discover what you need to know about Nuri.
James Martin is a senior writer at Finder. He has written on a range of finance and business topics for over five years and his work has been featured in publications including The Irish Times, Companies 100, In Business and Q Magazine (UK). As a trained journalist, James can drill into the finer details of financial products to help you save time and money. In his spare time, James is a committed sports fan, novel reader and Thai food enthusiast.
Ongoing promotions
Receive a €10 sign-up bonus when you open your free bank account and successfully activated your Nuri card. Applicable for new Nuri customers only. Promotion ends on 20 April 2022 (11.59 pm CET). Terms and conditions apply.
Do note that you’ll need to make at least one transaction on your newly activated Nuri Debit Card before the end of the promotion period to be eligible.
How does an account with Nuri (Bitwala) work in Germany?
Nuri, formerly Bitwala, is available to residents of the European Economic Area and Switzerland only. To sign up, you’ll need to submit personal details such as your full name, date of birth, address and email address. You’ll then need to confirm your identity and submit any required documentation.
If you’re approved for an account, you’ll be able to take advantage of a host of typical features you’d expect with a challenger bank account, such as paying bills or receiving your salary. Additionally, Nuri is an online euro bank account complete with SEPA functionality. There’s also the chance to invest in crypto if you wish.
Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.
What features does Nuri have?
Enjoy fee-free ATM withdrawals globally. Nuri won’t charge you to withdraw your cash in Germany or abroad. Just keep in mind that ATM operators can charge a withdrawal fee. Any outgoing SEPA transfers you make or incoming transfers are free from charge.
Send and receive cryptocurrency. Get round-the-clock access to your crypto-wallet from across the globe. You can choose to sell your Bitcoin or Ether and have the balance in your account within minutes.
Make crypto-investments. You’ll have the chance to invest in cryptocurrency from your Nuri Bitcoin Wallet into a Bitcoin Interest Account.
Nuri Mastercard. Utilise a free prepaid debit card that affords you instant access to your funds online, or at more than 30 million locations worldwide.
Security. Manage your account through the mobile app, including locking or unlocking your debit card if you encounter security issues.
Personalised notifications. You can customise Nuri notifications to stay on top of your recent transactions or cryptocurrency prices.
Education tools. Explore a range of education tools, from blog posts to guides, to learn more about investing and managing your money.
What fees and limits apply with this account?
If you lose your debit card and choose to reorder it, you’ll be charged €9.50. When it comes to buying or selling bitcoin directly from your bank account, each trade will incur a fee of 1%. When it comes to buying, you’ll also have to pay a fixed fee of €1 per trade to cover standard network fees. There’s no charge to receive crypto, but a network fee will apply for sending it. Nuri’s weekly Bitcoin trading limit has doubled from €15,000 to €30,000.
It’s important to read Nuri’s terms and conditions before signing up, in order to be aware of all the costs, charges and limits you could face.
Is my money safe with Nuri?
Nuri is a fully licenced bank and the first €100,000 of your money will be ringfenced by the German government’s Deposit Guarantee Scheme, giving you peace of mind that your cash is well protected.
With regards to cryptocurrency, as the account holder, you’ll hold the private keys meaning your Bitcoin holdings are secured.
Don’t forget that cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity.
Pros and cons
Pros
You can enjoy fee-free cash withdrawals across the globe, up to a limit of €3,000
No hidden fees – Nuri is transparent about its cost structure and there are no typical account or card fees
A competitive crypto trading fee of 1% applies
Cons
Supports Bitcoin and Ether only
Nuri uses email as its main channel for customer support
How do I sign up with Nuri?
Nuri makes it fast and easy to sign up for a new account. If you meet the eligibility criteria outlined below and would like to apply, you can do so online via a web browser or the Nuri App.
Simply enter your personal information and complete a short verification video call with IDnow.
Eligibility requirements
To open a Nuri account, you must:
Be at least 18 years of age
Live in the European Economic Area (EEA), or Switzerland
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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Frequently asked questions
You’ll be charged the Mastercard exchange rate; Nuri doesn’t add any fees on top.
No, Nuri doesn’t offer joint accounts.
It is a legal requirement for banking services to hold your tax number, which is commonly referred to as a Tax Identification Number (TIN). Your tax number, which should correspond to your place of residence, will be requested by Nuri during the process of opening your account. According to Nuri’s website: “If you do not submit your TIN(s) after 90 days of your account creation, your TIN will be obtained independently.”
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