Tyche Bank — ContoTe vs illimity — Conto Deposito
Neither wins across the board: weigh the points above against your use case before choosing between Tyche Bank — ContoTe and illimity — Conto Deposito.
| Tyche Bank — ContoTe | illimity — Conto Deposito | |
|---|---|---|
| Tier | B | B |
| Rating | ★ 3.8 | ★ 3.7 |
| Max gross rate | 3.5% | 3.35% |
| Max net rate | 2.59% — tax and stamp duty take 26% | 2.279% — tax and stamp duty take 32% |
| Account type | Fixed term | Fixed term |
| Available terms | 6m · 12m · 18m · 24m · 36m · 48m · 60m — up to 3.5% gross | 6m · 12m · 18m · 24m · 36m · 48m · 60m — up to 3.35% gross |
| Early withdrawal | No | No |
| What early withdrawal costs | 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. | On lines without early-withdrawal rights the money stays locked until maturity «even if the deposit contract is terminated». Parallel withdrawable lines exist but pay far less: 2.75% instead of 3.35% at 24 months. |
| Interest compounding | Quarterly | At maturity |
| Interest paid upfront | No | No |
| Stamp duty | Paid by the bank | Paid by you — 0.2% of the balance per year |
| Deposit amount | €10,000 – €1,000,000 | €1,000 – €20,000,000 |
| Deposit guarantee | EU guarantee €100,000 | EU guarantee €100,000 |
| Requires a linked current account | No | Yes |
| 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 (Albo Banche n. 5740 · ABI 03426) | Licenza bancaria (Albo Banche n. 5710) |
Frequently asked questions
Tyche Bank — ContoTe vs illimity — Conto Deposito: which is better?
Neither wins across the board: weigh the points above against your use case before choosing between Tyche Bank — ContoTe and illimity — Conto Deposito.
Is Tyche Bank — ContoTe custodial or self-custody?
Tyche Bank — ContoTe is custodial: funds are held by the platform, while illimity — Conto Deposito is custodial.