Security and Kontist
It has never been easier to manage your business finances as a freelancer - but easy shouldn’t mean unsecured. A number of safety measures guarantee that your money, your account and your business information are always protected.
How we protect your business bank account
Multi-factor authentication for transactions
In addition to your username and password, you have to enter a unique TAN in order to confirm money transfers. This code is sent by SMS to the verified mobile phone number attached to your account.
You can choose to log in to your account with fingerprint and face recognition. These unique biological features are far more difficult to copy or steal than traditional passwords.
When switching between apps on your mobile device, the preview image of the Kontist app is blurred, so that sensitive information such as your account balance doesn't appear in the multitasking view.
When you're uncertain about something our competent and friendly customer support is there to help via chat and telephone.
How we protect your money
Rock solid and proven
Our trusted bank partners, solarisBank (your account-holding institution) and Wirecard Bank (card-issuing institution) are both established, internationally operating companies.
Safe and secure
Your money is kept in a regulated, ring-fenced German bank account. Your funds will never be moved, invested or lent to anyone else. It’s your money, and you can always access it.
Your bank account is held by solarisBank, which holds a full European banking license and is a member of the Deposit Protection Fund of the Association of German Banks, regulated by BaFin and the European Central Bank (EZB). Assets in your Kontist business bank account are covered by the Deposit Protection Fund under EU directives up to € 100,000.
Kontist protects you with limits for card payments. The risk of falling into debt is eliminated with our Debit Mastercard, which does not offer a credit line. You stay in full control of your expenses.
Protecting your privacy
Kontist is committed to protecting your personal information and ensuring that you are in control of your data.
There have been big changes in data in 2018, with PSD2 and GDPR, two major EU regulations relevant to banks, coming into force more or less at the same time. PSD2 mandates access for third parties to bank account information and GDPR creates a framework for protecting personal data based on individual consent.
Although it sounds like the two are in conflict - one mandating access and the other mandating privacy - we see this as an opportunity. It’s an opportunity for you as a customer to have full access to your banking data, and the choice to share it with third parties for a richer, more personal banking experience- while also retaining control over what personal data gets shared. The two laws complement each other, and we believe that clear privacy regulations are what make trust in open banking possible.