Frequently Asked Questions

About Vesto

What is Vesto?

Vesto is your digital financial advisor. Vesto's mission is to help you make the best financial decisions. Vesto helps you define your goals, build a plan and follow it until you achieve everything you want.

Always from your mobile and 100% customizable, we do not depend on any bank, so we promise to always offer the best products for you, whether savings, investment or financial products to achieve your goals.

How does My Plan work?

Your financial Plan will allow you to always have your digital financial advisor at your fingertips, without the need for paperwork, eternal meetings or manual calculations. In just 5 minutes you can configure it and you will be able to answer some key questions:
- Am I saving enough to get everything I want?
- Can I achieve the goals I have in mind?
- How do some goals affect others?

This will help you make the best decisions of your financial life.

Why is Vesto better than your bank?

Vesto is not a bank, it is much better. We guarantee the same security, and offer you the best saving and investment products in Europe. And why doesn't your bank offer it to you? Because banks only work with their own products, which are not always the best for you, and they will charge you high commissions, while we are independent and focus just on what is best for you.

Is it for free?

Absolutely. Vesto advises you and allows you to save for free. You can add money to the app and withdraw it at any time without any hidden cost or commission.

How does Vesto earn money?

By looking for the best products for you, so that you can get more out of your money. We do not charge the user, but rather the companies that are connected to our platform. And we never share personal information with third parties.

In which countries is Vesto available?

For the moment we are only available in Spain, but with expectations of expanding to other countries, starting by Southern Europe.

Your money, safe

Where is my money stored?

Your savings will be safe at BBVA, one of the most solvent financial groups guaranteed by the Bank of Spain, allowing you to withdraw your money whenever you want and at no cost. We are also regulated by the Bank of Spain, so you have nothing to worry about.

Vesto meets all the security requirements of the European Directive PSD2. Vesto security is verified and validated by the greatest specialists in digital security. In addition, the information is protected with a 256-bit bank security level, which is the same level of protection as the most advanced banks.

What about my data?

Your personal data is protected by the European Data Protection General Regulation (RGPD); they are strictly confidential and impossible to transfer to third parties. Also, if you decide to cancel the application, all your banking information, connections and access data are permanently erased from our systems.

My plan

What will My Plan do for me?

Having your plan defined through our algorithm will help you in two basic pillars. First, it will help you to simulate and see the impacts you have before making any decision that affects your future. And secondly, it will help you to have a constant evolution of the plan and see if you are on the right path to achieve your goals. As you always have it available from your mobile, it will always be next to you in your life, whether you change your jobs or if your future priorities are altered.

Can I use My Plan without having my savings in Vesto?

Yes. Our goal is that we can help you make the best decisions for your life, so you can complete all your data and your saving capacity and follow up on Vesto; even if you don't save directly with us. We are committed to offering you the best financial products since choosing them well is an important decision. Soon we will have news of new financial products in Vesto. 

For now, you can save with us in an automated way and without any cost or associated commission.

How does the algorithm work?

To calculate your plan we take as a starting point the savings you tell us that you have and what you calculate you can save each month. From here, we make future projections of the money you will have until your retirement, and we take this into account to see if your goals are realistic or if you are far from getting them.

How does it affect my plan to have a goal with my friends?

As you might know, in Vesto you can share goals with friends, with your partner or with your family. Let’s imagine that you have a goal of the house down payment of € 50,000 and you share this goals your partner. This means that € 25,000 will be allocated to you and € 25,000 to your partner, in your financial plans. In this way, you will always have the goal aligned both in amount and time.

You can also do it for any other type of objectives: imagine a trip with friends, a car with your sister or a master's degree that you want to do with your best friend.

Your account

What are the requirements to create an account?

To create your Vesto account you only need to have a Spanish bank account and a Spanish phone number, which is the one we will use for your register. This way you won't have to remember a username or password, much easier!

How to create an account?

Creating your account is very simple. First of all, you will have to enter your mobile. We will send you a message with a code to confirm that it is you. After that, we will ask you some basic questions about your personal data and you will already have your account created. In order to get a Plan, you will need to answer some questions about your personal finances and your goals. This won’t take you longer than 5 minutes.

Why do I need my bank account?

We need your bank account to transfer back to you the money you have saved when you need it. In addition, by providing your account, our robots will be able to anonymously analyse your movements in order to calculate round-ups, retentions and other automatic saving methods, and suggest you how to save quickly and without even thinking about it!

Why do I need my card?

Transfers to your Vesto account will be made from your card. Let's think for a moment about how money moves. You pay for a coffee with the card, but you cash your paycheck with your bank account. We do the same thing for your savings, we save from your card and transfer the savings to your bank account.

How can I save in Vesto?

Once you have already introduced your account and credit card to Vesto, you can start saving in Vesto. You have two options.

The first one consists on making a manual topup, with no minimum amount. The second one consists on configuring our autosavings methods: recurrent, retention and round ups. It’s very easy to automatize your savings within Vesto. 

How can I withdraw my money?

You can withdraw your savings at any time, totally free of charge. It's as simple as logging into Vesto and indicating how much money you want to withdraw, and we'll transfer it immediately to your bank. Sometimes banks take up to 48 hours to make the transfer effective, but don't worry because it always gets there.