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How to Buy Crypto with Targobank

How to Buy Crypto with Targobank

Dylan Matthews
Fact Checked
Nov 10, 2022

Summary: Targobank does not currently support the purchase of cryptocurrencies through its online banking platform. The best way to work around this is by signing up for a licensed and regulated crypto exchange in Germany.

We recommend a platform like eToro because they offer fast and cheap EUR deposits from Targobank to trade over 80 Cryptos and thousands of other assets.

Table of Contents

eToro Platform Highlights

Platform Highlights

  • Fast and cheap Euro (EUR) deposits from all European Banks.
  • Licensed by the Financial Conduct Authority (FCA) and ESMA.
  • 80+ Cryptos and over 7,000 Stocks, ETFs & Commodities with low fees.

Can I Buy Cryptocurrencies with Targobank?

If you're looking to buy cryptocurrency with Targobank, unfortunately, you're out of luck. The bank does not currently support such purchases or custodial services through the Targobank online banking platform. That said, they do allow their customers to withdraw fiat to regulated third-party services via bank transfer or debit card/credit card to invest in the asset class

Customers must sign up to a European Securities and Markets Authority (ESMA) licensed platform to buy digital assets. Otherwise, Targobank may freeze your assets if they find you are withdrawing fiat into unlicensed and offshore trading platforms.

How to Buy Crypto or Bitcoin with Targobank

The best way to invest in cryptocurrencies with a Targobank online account is through a trusted platform like eToro EU. They are an ESMA-licensed and regulated trading platform that offers fast and free EUR deposits from German bank accounts like Targobank. The eToro exchange offers over 80 digital assets and 7,000+ stocks, ETFs and commodities to trade with up to 10x leverage.

You can get started from your Targobank login in 4 simple steps:

  1. Create an account: Sign up to the eToro platform and verify your identity (personal or company).
  2. Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit Euros (EUR) from your Targobank online banking account.
  3. Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
  4. Execute your trade: Input the fiat amount you want to buy and execute your trade.
Targobank
Deposit Funds with Targobank.

Targobank Cryptocurrency Policy

In April 2021, Targobank updated its online banking terms and conditions to reflect a policy change toward cryptocurrency. The German bank prohibits any activity that involves buying, selling or storing digital assets from off-shore exchanges on behalf of their customers.

The new rules also state that Targobank can refuse any transactions they deem as 'suspicious' or involving cryptocurrencies. If the bank suspects any fraudulent or illegal activity, it can also freeze your assets and close your account without notice. This is why it is important and we emphasize the point of only using ESMA-regulated trading platforms.

About Targobank

Targobank is a leading retail bank in Germany with over 4 million customers. The bank offers a wide range of banking products and services for private individuals, small businesses and corporate customers. Targobank is a subsidiary of the French bank BNP Paribas.

Targobank

The bank has a strong focus on customer satisfaction and offers a wide range of banking products and services that are tailored to the needs of its customers. Targobank also offers a wide range of digital banking products and services, such as mobile banking, online banking and contactless payments.

Targobank is a member of the European Banking Federation and the German Banking Association.

Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

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