Tyche Bank — ContoTe
Tyche Bank S.p.A.
ContoTe is Tyche Bank's only retail product, and on a net basis it is the best-paying deposit account among those verified. The merit is not the gross rate — 3.50% at 60 months is offered by others too — but that stamp duty is paid by the Bank: 0.2 points a year that stay with the customer, turning that 3.50% into 2.59% net against 2.39% for banks that charge it. Even the unrestricted balance, at 0.75%, stays positive (0.555% net) while almost every competitor at those levels goes below zero. The price is twofold: entry is €10,000 per term, and the contract is asymmetric — the customer can never break the lock, while the bank may terminate at will without giving a reason, on two months' notice.
Data & conditions
| Max gross rate | 3.5% |
|---|---|
| Max net rate | 2.59% — tax and stamp duty take 26% |
| Account type | Fixed term |
| Available terms | 6m · 12m · 18m · 24m · 36m · 48m · 60m — up to 3.5% gross |
| Early withdrawal | 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. |
| Interest compounding | Quarterly |
| Interest paid upfront | No |
| Stamp duty | Paid by the bank |
| Deposit amount | €10,000 – €1,000,000 |
| Deposit guarantee | EU guarantee €100,000 |
| Requires a linked current account | No |
| Joint account | Yes |
| Supported countries | EEA · 1+ countries |
| Regulator | Banca d'Italia |
| Segment | B2C |
| Funding / solidity | Recently established Bologna-based bank, present in retail only through the ContoTe deposit account |
| MiCA / License status | Licenza bancaria (Albo Banche n. 5740 · ABI 03426) Italian banking licence (Bank of Italy) |
Strengths
- Stamp duty is paid by the Bank: 3.50% is worth 2.59% net, the highest real return among the deposits verified, against 2.39% for banks offering the same gross rate but charging the duty.
- Even the unrestricted balance pays positively: 0.75% gross, 0.555% net, while competitors' instant-access balances — at 0.10-0.25% with customer-paid duty — return less than zero.
- Zero cost structure: opening, closing, deposits, withdrawals, statements, paper communications and account fee are all free.
- Interest is settled quarterly in arrears even on long terms, so the return arrives along the way and not only at maturity.
- No notable sovereignty advantage documented.
Weaknesses
- Asymmetric termination: the customer cannot release funds even partially before maturity, while the Bank may terminate «at any time, without giving a reason», on two months' notice. Anyone locking in for 60 months accepts a commitment only one side is bound by.
- €10,000 entry per term, in multiples of €1,000: the highest threshold among the deposits verified, twenty times Banca Sistema's.
- A small, recently established bank with a single retail product: counterparty risk deserves more weight than with a diversified issuer, even though deposit guarantee cover is the same up to €100,000.
- Deposits and withdrawals are permitted only to and from a single Predefined Account, and no more than one may be linked to each ContoTe.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Italian banking licence (Bank of Italy)): reporting to authorities and freezes on order.
Verdict
Score 3.8/5, solid profile. In its favour: stamp duty is paid by the Bank: 3.50% is worth 2.59% net, the highest real return among the deposits verified, against 2.39% for banks offering the same gross rate but charging the duty. The trade-off to weigh: asymmetric termination: the customer cannot release funds even partially before maturity, while the Bank may terminate «at any time, without giving a reason», on two months' notice. Anyone locking in for 60 months accepts a commitment only one side is bound by.
On the Sovereignty lens the score is 0.4/5 (weak): the strength is censorship resistance (1.5/5), while fund control (0.0/5) is the weak link.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Why does Tyche's 3.50% pay more than another bank's 3.50%?
Because here stamp duty is paid by the bank. The duty is 0.2% of the balance each year and is subtracted in percentage points from the return. On a deposit where the customer pays it, 3.50% gross gives 3.50 × 0.74 − 0.2 = 2.39% net. On ContoTe, where the information sheet states «Stamp Duty: Paid by the Bank», only the 26% withholding remains: 3.50 × 0.74 = 2.59%. Two tenths of a point apart at an identical advertised rate.
Can I withdraw early?
No, under no circumstances. The 7 April 2026 information sheet states that the Customer cannot release, in whole or in part, the deposited sums before maturity. There is no withdrawal rate and no penalty: the operation simply is not provided for.
Can the bank really close my account whenever it wants?
The information sheet provides that the Bank may terminate the Contract at any time, without giving a reason, by registered letter or certified email; termination takes effect after two months. It is contractually asymmetric against the absolute ban on early release imposed on the customer, and deserves weight especially over long horizons.
How much do I need to start?
The minimum amount per term is €10,000, in multiples of €1,000, with a maximum of €1m per customer and product. The minimum account balance, by contrast, is zero: the account can stay open with no active terms, earning 0.75% gross.
How safe is money at a small bank?
Tyche Bank belongs to the Italian Interbank Deposit Protection Fund, guaranteeing up to €100,000 per depositor exactly as at any other Italian bank. Above that threshold there is no protection, and counterparty risk weighs more heavily on a recently established institution with a single retail product: anyone above €100,000 should spread it across banks.
Sources
- Official service page Data verified on Jul 27, 2026
- img.gruppomol.it Importi · Svincolo Data verified on Jul 27, 2026