Willbe is a sustainable investment option in the digital age that prioritizes sustainability. It was launched in 2022 by the Liechtensteinische Landesbank and offers an innovative investment app tailored for the German market.
Willbe provides a range of financial products, including overnight money, fixed-term deposits, and fund savings plans. One standout feature is its competitive interest rates.
For example, the call money account offers an impressive 3.30 percent annual interest for euro deposits up to 50,000 euros, 4.25 percent for US dollar deposits, and 0.85 percent for Swiss francs. Investors can benefit from attractive returns while maintaining flexibility, as there is no minimum deposit requirement.
Investors should be aware of the tax implications associated with Willbe's interest income. As the company is based in Liechtenstein, it does not automatically remit the final withholding tax to the relevant tax office. Investors are responsible for declaring their interest income in their tax returns via the KAP annex. Willbe provides an interest statement in the first quarter of the following year, detailing all interest income, which can be accessed through a digital mailbox.
Safety is a paramount concern for investors, and Willbe addresses this by operating under stringent European financial supervisory standards. Customer deposits are protected up to 100,000 Swiss francs per person by Liechtenstein's statutory deposit protection scheme.
Willbe's call money account presents several advantages. The attractive interest rates for deposits up to 50,000 euros are particularly enticing for those looking to maximize returns on smaller sums. The account's availability in multiple currencies provides flexibility for investors with diverse financial needs. The uncomplicated and free account opening process via the Willbe app further enhances its appeal, making it accessible to both new and existing customers.
However, potential investors should also consider the disadvantages associated with Willbe's offerings. The attractive interest rates are capped at 50,000 euros, meaning that larger deposits will earn lower rates. Furthermore, interest is credited quarterly, which can diminish the benefits of compound interest. Investors must also take note that they are responsible for declaring their interest income in their tax returns, as taxes are not automatically withheld.
While Willbe offers a compelling investment option, it is not the only player in the market. Competitors such as Trade Republic and Freedom24 are also vying for the attention of savers. Trade Republic currently offers an interest rate of 3.50 percent per annum on unlimited deposits, applicable to both new and existing customers. Freedom24 presents another alternative with its D-Account, which pays interest on non-invested balances without an upper limit. The interest rates are variable, reaching up to 3.37 percent per annum in euros and 4.84 percent in US dollars, although these rates can fluctuate daily. Freedom24's deposit guarantee is limited to 20,000 euros.
As the demand for sustainable investment options continues to grow, platforms like Willbe are well-positioned to capture the interest of a new generation of investors. The focus on ethical and ecological standards not only aligns with global sustainability goals but also resonates with individuals seeking to make a positive impact through their financial choices. With the backing of a reputable financial institution and a commitment to transparency, Willbe is paving the way for a more responsible approach to investing. In a financial landscape increasingly characterized by digital innovation, Willbe's model represents a shift towards more personalized and sustainable investment strategies. The emphasis on ethical practices and environmental responsibility will likely shape the future of investment offerings. The combination of competitive interest rates, flexible account options, and a commitment to sustainability positions Willbe as a noteworthy contender in the evolving investment arena.