Your questions
Frequently asked questions.
- No matter if Forget Finance or our partners Evergreen and DAB Bank would go bankrupt - your investments are so-called separate property and therefore protected against insolvency without any limits. In a worst case scenario, you could transfer your investments to another custody account.
- Money on the clearing account of DAB is deposit-protected up to €100.000 (the money is only there for one day until it is invested or paid out to you).
- Money from Forget Finance can only be paid out to your chosen reference account (your existing bank account from which your savings plans are debited by direct debit). While all transactions are protected by passcode or FaceID anyway, money cannot be paid out to a third person even if someone would get access to your smartphone and your Forget Finance account.
What is exactly the same as with ETFs:
- Your money is broadly invested in thousands of stocks and bonds around the world, so the likelihood of losing money in the long term is minimal (unless you invest in risky sector or theme ETFs).
What is different between Forget Finance and ETFs:
- You don't have to put together the right portfolio of thousands of ETFs yourself - we do that for you. The funds used are sustainable.
- You have as many separate savings pots as you like - so you have an overview of your money, e.g. for the rainy day fund, savings plans for your children, a trip around the world and your retirement.
- You have 10 risk levels to choose from, so you can invest not only for the long term but also for medium-term goals with low risk.
- Lower fluctuation of your investments through active, rule-based risk management, so you can get your money more flexibly without losing value. Example: The average volatility of our highest risk level 10 is only equal to that of a passive ETF portfolio of 50% stocks and 50% bonds, with significantly higher expected performance (target return).
Costs in comparison:
- ETFs usually incur between 0.2% to 0.5% fund costs per year. In addition, there are transaction costs when buying or selling (usually €1-€20 depending on the deposit and the amount). In addition, there are hidden costs such as bid-offer spreads (different prices for the seller and the buyer of an ETF).
- At Forget Finance you pay 0.59% fund costs on the invested sum per year. There are no additional costs.
What we do is complex. But it's really simple for you. Answer a few questions to create your financial plan, open your free custody account through the app, and start investing for your goals!
Forget Finance is designed to save you months of research and still build wealth sustainably and long-term. Your money is diversified worldwide, the risk is actively reduced (risk management) and you don't have to worry about anything, we optimize your investments for you in the background.
Currently you can only download the Forget Finance app from the German App Store. Subscribe to the newsletter to be the first to know when the app is translated.
It is also possible to open a deposit if you do not have German citizenship. The only exception are persons with a US-American citizenship. We are not allowed to open a securities account for them for legal reasons.
It is also possible to open a securities account if you do not live in Germany or are tax resident outside of Germany. However, we can only open a securities account for you if you are resident in one of these countries:
Australia
Belgium
Denmark
Germany
Estonia
Finland
France
Italy
Japan
Luxembourg
New Zealand
Netherlands
Norway
Austria
Poland
Portugal
Sweden
Switzerland
Spain
Czech Republic
United Kingdom of Great Britain and Northern Ireland
If you are liable to pay taxes outside of Germany, accruing taxes are not automatically paid and must be declared in the tax return in the country of residence itself and transmitted to the tax office. For this purpose we provide a tax certificate annually.
You can use the Forget Finance app to plan different investment pots (wealth accumulation, sabbatical, retirement, etc.) and savings pots ( emergency funds, next vacation, gift budgets, etc.) - without any obligation and without opening an account first. For each pot, you can set a one-time deposit and a savings rate of your choice.
To activate this financial plan, you open a securities account in the app with our banking partner DAB BNP Paribas and a contract with the sustainable asset management company EVERGREEN. Once your account has been successfully opened, your deposits and savings plans will be automatically activated and debited from your account. You can then view and control your investments completely via the Forget Finance app.
The opening of a securities account takes about 30 minutes including the video identification. Normally, our partner bank opens the securities account for you within 5 business days. In certain cases, there may be queries which can delay the process by approx. 1 week (e.g. in the case of a different registration address or foreign identity documents). Please contact us if the process unexpectedly takes longer than a week.
No, there is no minimum term and no cancellation period. You can simply withdraw the invested money at any time via the Forget Finance app.
You want to close your account with our partner bank? Then write to us and we will terminate your account free of charge.
Deposits usually take 3-4 business days until your money is actually invested. Since these are conveniently collected by direct debit from your bank account, this also depends on your bank.
- When creating your financial strategy, you can create separate monthly savings plans for each pot (nest egg, sabbatical, retirement, etc.).
- Savings plans are debited from your account on the 3rd working day of the month - depending on the bank, you may not see them in your banking app until a few days later (usually debited between the 5th and 10th of the month).
- You can change savings plans at any time before the next debit or set them to 0 €.
- You can always create new pots for further financial goals in Forget with your own savings plans.
You can pay into a pot and invest from as little as €1.
Savings plans are also possible from as little as €1 per month.
You can withdraw the money from your pots on a daily basis. Once you make a withdrawal, it usually takes 3-4 business days for the money to be transferred back to your account.
First of all, you don't have to worry about anything. We'll take care of that for you! We'll make sure that you can make the most of the saver's allowance from the government.
How this works:
- We check the income situation in your securities account every year. As soon as we know your situation, we realize - through the sale and directly subsequent purchase of the fund shares in the corresponding amount - annual profits in the amount of your tax allowance.
Still difficult to understand? Here is an example:
- You invest your money for 10 years. After 10 years you have made a profit of 15,000 Euro. Normally your profit is now taxed at 25%, except for the tax-free amount of currently about 1,000 Euro. So 14,000 Euro of your profit will be taxed and 1,000 Euro will not be taxed. With Forget Finance you can use the allowance every year, so 10 x 1,000 Euro. In the ideal case, only 5,000 euros of your profit will be taxed and 10,000 euros (= 10 x 1,000 euros allowance) will remain tax free. That is in the best case 2,500 euros less tax.
*Simplified example: the tax-free amount is currently 1000€ (from 2023). In addition to the 25% tax rate for capital gains, there is a 5.5% solidarity surcharge (calculated on the 25% capital gains tax) and, if applicable, church tax - the tax savings can therefore be even higher.
You can withdraw your invested money flexibly on a daily basis - 2 taps are enough: we sell your investments and transfer the money to you within 3-4 working days.
In this respect, it can be advantageous if you (especially with a shorter investment horizon) are somewhat flexible with the timing of the payout, so that you do not realize losses. Think long term and stick with it.
No, there is no minimum term and no cancellation period. You can simply withdraw the invested money at any time via the Forget Finance app.
You want to close your account with our partner bank? Then write to us and we will terminate your account free of charge.
In summary: If you have invested e.g. €1.000 with us, the funds of our partners will cost you €5,90 per year, including all transactions and optimization features. The coaching will only cost you if you use it.
- The use of the Forget App is free and without obligation.
- If you open a custody account and asset management contract with our partners DAB and EVERGREEN via the app, there are no ongoing costs.
- Deposits and withdrawals are free of charge.
- Your money is invested in funds whose risk is actively managed. Within the funds there are 0.59% fund costs per year - these ongoing costs are automatically deducted as with all funds and ETFs and correspond to the TER (total expense ratio). In addition, there are no front-end loads, no transaction costs and no service fees. As our funds are traded over-the-counter, there are no hidden bid-offer spreads, unlike ETFs.
Here is a small calculation example as a summary: If you have invested 1,000 € with us, the funds of our partners will cost you 5.90 € per year, including all transactions and optimization features.
Additionally, with Forget Finance there is
- no service fee
- no performance fee
- no front-end load
- no transaction fee
- no hidden bid-offer spreads, because unlike ETFs, our funds are traded over-the-counter
All info about the costs and free features.
Deposits and withdrawals are free of charge at Forget Finance. There are no fees for you when buying or selling the investment funds.
All info about costs and free features.
No, you simply open a securities account through us. This will not result in a SCHUFA entry and won't affect your credit score.
Here we have to distinguish two cases
- You have registered with Forget Finance, but have not yet opened a securities account:
Just click on your profile in the Forget Finance app and scroll all the way down. There you will find a button to delete your account. If you have any problems, please send us an email to hello@forget.finance. - You have registered with Forget Finance and opened a securities account:
Write us an informal mail to hello@forget.finance. We will then delete your account and have all remaining investments paid out to your reference account at the current rate.
- No matter if Forget Finance or our partners Evergreen and DAB Bank would go bankrupt - your investments are so-called separate property and therefore protected against insolvency without any limits. In a worst case scenario, you could transfer your investments to another custody account.
- Money on the clearing account of DAB is deposit-protected up to €100.000 (the money is only there for one day until it is invested or paid out to you).
- Money from Forget Finance can only be paid out to your chosen reference account (your existing bank account from which your savings plans are debited by direct debit). While all transactions are protected by passcode or FaceID anyway, money cannot be paid out to a third person even if someone would get access to your smartphone and your Forget Finance account.
You have further questions?
Then feel free to contact us, we will be happy to assist you.