All cryptocurrencies and digital assets supported on Bitpanda can be purchased using a Bitpanda savings plan. You can set up as many savings plans as you want as long as you do not exceed the limits. You can even set up multiple savings plans for the same coin or token.
- What you need
- Create a savings plan
- Cancel a savings plan
- Limits
- Available fiat currencies
- Savings plan status
- Where to find active/paused Savings plans
- Transaction status
- Troubleshooting
What you need
To create a savings plan you will need the following:
- A fully verified Bitpanda account
- A valid credit card or SEPA bank account accepted by Bitpanda
- A smartphone where you are able to receive an SMS-PIN
Create a savings plan
To create your savings plan, please follow these steps:
- Click on your User Icon
- Click on Saving plans
- Click on Add savings plan
- Choose the cryptocurrency or digital asset you want to buy
- Choose the currency you want to pay in and a payment provider
- If you have chosen SEPA Direct Debit as a payment method, choose an existing bank account or add a new one and click on Save and continue
- Select the amount of the respective cryptocurrency or digital asset you want to buy and the Frequency at which to repeat the buy
- Click on Go to Summary
- After agreeing to the early fulfilment of the transaction and confirming that the payment method is yours, click on Confirm now
- If you have chosen SEPA Direct Debit as payment method and created a new bank account, click on Confirm mandate
- Enter the SMS code, which we sent to your verified phone number
- If you have chosen a credit card as a payment method, a pop-up will appear to take you to the payment provider’s page. Fill out all details and click on Pay. If the payment was successful, you will be redirected back to Bitpanda, where a message will appear confirming your transaction
Note: Please note that using SEPA Direct Debit requires Android version 1.9.7 or higher. Make sure your Bitpanda App is up to date to the latest version.
- Tap on the Trade button
- Tap on Savings
- Choose the cryptocurrency or digital asset you want to buy
- Select the fiat currency and payment provider
- If you have chosen SEPA Direct Debit as a payment method, choose an existing payout account or set up a new one and tap on Save and continue
- Select the amount of the respective cryptocurrency or digital asset you want to buy and the Frequency at which to repeat the buy
- Tap on Continue
- After agreeing to the early fulfilment of the transaction and confirming that the payment method is yours, click on Start savings plan
- If you have chosen SEPA Direct Debit as a payment method and created a new bank account, tap on Confirm mandate
- Enter the SMS code, which we just sent to your verified phone number and tap Send
- If you have chosen a credit card as a payment method, a pop-up will appear to take you to the payment provider’s page. Fill out all details and tap on Pay. If the payment was successful, you will be redirected back to the Bitpanda App, where a message will appear confirming your transaction
Tip: Unfortunately, it is not possible to change an existing savings plan. If you wish to change the amount, the payment method or the frequency for your recurring payments, you will need to create a new savings plan.
Cancel a savings plan
You can Cancel your savings plan at any time. You can also temporarily Pause and later resume your savings plan anytime you want.
Revoke Direct Debit mandate
To revoke your Direct Debit mandate, please contact us.
Note: Keep in mind that revoking a Direct Debit mandate will automatically cancel all connected Savings plans. Pending transactions will still be executed, even if you cancel your Savings plan or revoke your Direct Debit mandate.
Tip: To find the mandate number, simply click on the three dots next to your savings plan and select View SEPA Direct Debit mandate.
Limits
The limits for credit card and SEPA Direct Debit savings plans is EUR 5,000 a month per payment method.
This means that in any given month you can invest EUR 5,000 via credit card savings plans and in addition, EUR 5,000 via SEPA savings plans. You are free to set up savings plans the way they suit you best, while remaining under the monthly limit of EUR 5,000 per payment method.
For example, you could make a single EUR 5,000 purchase per month, or you could purchase digital assets for multiple smaller weekly or daily amounts until the total monthly limit of EUR 5,000 is reached for the respective payment method.
With credit card and SEPA Direct Debit combined, you can invest up to EUR 10,000 every month in more than 1000 digital assets.
Tip: Not only Active ones but also Paused and Pending savings plans reduce the amount available for additional savings plans for the respective payment method, so make sure to cancel unused plans to free up the limits for new savings plans.
Available fiat currencies
When using credit card as a payment method for a Bitpanda savings plan, you can use EUR, CHF, USD and GBP.
When using SEPA Direct Debit as a payment method for a Bitpanda savings plan, you can use EUR. The Single Euro Payments Area (SEPA) is a payment-integration initiative for bank transfers in EUR and for that reason, SEPA Direct Debit mandates for a savings plan are only available in EUR. If you didn't get credited the exact amount that you expected, this may be due to the fact that your bank charged foreign exchange fees for the exchange of your native currency to EUR.
Savings plan status
Active
You can find all your active savings plans here.
Pending
If you initiate a fiat deposit, it will start with the status Pending. This indicates that your fiat transaction request was received. At this point, you may need to confirm the transaction.
If the status of your savings plan is still on Pending after confirmation, please have some patience. Your order will be processed shortly.
Paused
You can also temporarily pause and later resume your savings plan any time you want. Please note that pending transactions for paused plans will still be executed.
Cancelled
You can Cancel your savings plan at any time. Please note that pending transactions for cancelled plans will still be executed.
If the status of your savings plan is on Cancelled, this could be due to one of the following three reasons:
- You did not finish creating your savings plan in time
- You cancelled or revoked the plan
- There were issues with your order
Where to find active/paused Savings plans
On Webapp
You can access your savings plans from the Home tab or your personal area.
- Go to the Home tab, scroll down, and find "Savings Plans" on the right → Click Manage.
- Alternatively, click the Panda icon (personal area) → Select "Savings Plans".
In the mobile app
Savings plans are shown as a widget in the Portfolio tab. Here's how to find them:
- Open the Portfolio tab.
- Scroll through the widgets below the portfolio chart.
- If needed, swipe left/right to find the active savings plans widget.
- Tap "View" to access your plans
Transaction status
To find the transaction status of an individual transaction of your savings plan, navigate to the respective wallet.
Pending
If the status of your savings plan is on Pending, please have some patience. Your order will be processed shortly.
Note: For a savings plan, using SEPA Direct Debit as a payment method, up to 10 days before the savings plan purchase takes place, the transaction will be shown as Pending in your EUR wallet. This means that the transaction process from your bank account has been initiated and is in progress.
Locked for savings
For a savings plan, using SEPA Direct Debit as a payment method, as soon as we receive the money, the status of your transaction will change to Locked for savings in your EUR wallet until the actual day of the savings plan purchase.
Manual approval
If the status of your transaction is on Manual approval, please have a look at this article.
Cancelled
If the status of your savings plan transaction is on Cancelled, this could be due to one of the following three reasons:
- You didn’t finish creating savings plan in time
- You have cancelled or revoked the plan
- There were issues with your order
History
An order in your savings plan will show up as two individual entries in your History:
- As a fiat deposit
- As a cryptocurrency buy
Troubleshooting
Note: If your credit card cannot be charged, for example, due to limitations set by your credit card provider or a lack of available funds on your credit card, your savings plan will be cancelled within one hour after the failed transaction, and no cryptocurrency will be credited on your respective wallet.
If this is the case then, Bitpanda will notify you by email regarding the failure to execute the order. Once a plan is cancelled it cannot be reinstated, therefore you will have to create a new savings plan.
Before contacting us directly, find out why a credit card may be declined. If you pay attention to the solutions provided there but your transactions continue to fail, you might want to get in touch with your credit card provider.
Tip: Each purchase, including Pending ones after the cancellation or revocation of a savings plan, will always be credited into the wallet you defined when you created the plan. If you accidentally deleted the wallet that was assigned to your savings plan, don’t worry, the affected purchases will then automatically be credited to your default wallet for the respective asset.
For additional information regarding Bitpanda Savings, please read our terms and conditions.