How do I create a savings plan?

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

To create a savings plan you will need the following:

Create a savings plan

To create your savings plan, please follow these steps:

DesktopMobile App (Android)
  1. Click on your User Icon
  2. Click on Savings
  3. Click on Add new plan
  4. Choose which wallet you want to buy coins for
  5. Choose the currency you want to pay in and a payment provider
  6. 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
  7. Select the amount of the respective cryptocurrency or digital asset you want to buy and the Frequency at which to repeat the buy
  8. Click on Go to Summary
  9. After forgoing your right of withdrawal and confirming that the payment method is yours, click on Confirm now
  10. If you have chosen SEPA Direct Debit as payment method and created a new bank account, click on Confirm mandate
  11. Enter the SMS-PIN, which we sent to your verified phone number
  12. If you have chosen credit card as 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

Tip: If you already have a savings plan set up with your credit card and want to switch to a SEPA Direct Debit payment, you’ll have 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 2,500 a month per payment method.

This means that in any given month you can invest EUR 2,500 via credit card savings plans and in addition, EUR 2,500 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 2,500 per payment method.

For example, you could make a single EUR 2,500 purchase per month, or you could purchase digital assets for multiple smaller weekly or daily amounts until the total monthly limit of EUR 2,500 is reached for the respective payment method.

With credit card and SEPA Direct Debit combined, you can invest up to EUR 5,000 every month in more than 30 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, GBP and TRY.

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 didn’t finish creating your savings plan in time
  • You have cancelled or revoked the plan
  • There were issues with your order

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.

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:

  1. As a fiat deposit
  2. 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 & Conditions.

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