What is bank identification?

Bank identification is a method of verification for etoro clients in Germany who hold real crypto.

You’ll be asked to complete the bank or video identification if you hold a crypto position secured with the underlying asset, copy other traders, invest in Smart Portfolios containing crypto, or use the etoro crypto wallet.

Powered by Solaris, the process takes between three to five minutes and requires:

• The account number and IBAN of a German bank account, registered in your name. Joint accounts are not supported.
• Your online banking login details for the same bank account.
• The mobile phone number registered in your etoro account.

How does bank identification work?

Once you’re ready:

1. Click on Get started.
2. Enter the code sent by SMS to the number registered in your etoro account.
3. Enter a valid 22-digit IBAN.
4. Log into your German bank account to complete a 5-cent micro-transfer to the bank identification provider Solaris. The 5-cent transfer will be refunded to your bank account after a few days.
5. Check that your identification report is correct and digitally sign by entering the code sent by SMS.

Identification is usually completed within minutes, and you’ll receive confirmation via email and a notification on the platform.

Is my data secure?

As a processor of personal data, Solaris is subject to the EU’s General Data Protection Regulation (GDPR) and operates with secure servers and encrypted internet connections. Customer data is handled confidentially.

If necessary, Solaris may pass data to external service providers detailed in the Information on Data processing for applicants document. For full details, please check Solaris’s Customer Information on Data Processing.