Banca Sistema — SI conto! DEPOSITO vs Tyche Bank — ContoTe
In short: Banca Sistema — SI conto! DEPOSITO if your usage matches its strength, Tyche Bank — ContoTe otherwise — the numbers above beat any slogan.
| Banca Sistema — SI conto! DEPOSITO | Tyche Bank — ContoTe | |
|---|---|---|
| Tier | A | B |
| Rating | ★ 4.0 | ★ 3.8 |
| Max gross rate | 3% | 3.5% |
| Max net rate | 2.22% — tax and stamp duty take 26% | 2.59% — tax and stamp duty take 26% |
| Account type | Fixed term | Fixed term |
| Available terms | 3m · 6m · 9m · 12m · 18m · 24m · 30m · 36m · 42m · 48m · 54m · 60m · 120m — up to 3% gross | 6m · 12m · 18m · 24m · 36m · 48m · 60m — up to 3.5% gross |
| Early withdrawal | No | No |
| What early withdrawal costs | No early withdrawal: the information sheet states that «early repayment of locked funds cannot be requested». As an alternative the bank offers SI conto! SUBITO, a loan secured against the locked deposits: you do not break the term, you borrow against it. | No early withdrawal: the information sheet states that «the Customer cannot release, in whole or in part, the deposited sums before maturity». The bank, by contrast, may terminate the contract at any time without giving a reason, on two months' notice. |
| Interest compounding | At maturity | Quarterly |
| Interest paid upfront | No | No |
| Stamp duty | Paid by the bank | Paid by the bank |
| Deposit amount | €500 – — | €10,000 – €1,000,000 |
| Deposit guarantee | EU guarantee €100,000 | EU guarantee €100,000 |
| Requires a linked current account | No | No |
| Joint account | Yes | Yes |
| Supported countries | EEA · 1+ countries | EEA · 1+ countries |
| Regulator | Banca d'Italia | Banca d'Italia |
| Segment | B2C | B2C |
| Regions | EU/EEA | EU/EEA |
| Licences & safety | Licenza bancaria (Banca d'Italia) | Licenza bancaria (Albo Banche n. 5740 · ABI 03426) |
Frequently asked questions
Banca Sistema — SI conto! DEPOSITO vs Tyche Bank — ContoTe: which is better?
In short: Banca Sistema — SI conto! DEPOSITO if your usage matches its strength, Tyche Bank — ContoTe otherwise — the numbers above beat any slogan.
Is Banca Sistema — SI conto! DEPOSITO custodial or self-custody?
Banca Sistema — SI conto! DEPOSITO is custodial: funds are held by the platform, while Tyche Bank — ContoTe is custodial.