They will depend on your account type and country of residence.
As you probably know, at inbestMe we offer investment plans with Index Funds, ETFs and Pension Plans.In the case of Indexed Funds and Pension Plans, these allow investing only in Euro (both in the account currency and in the initial capital transfer).
In the case of ETF portfolios, these allow you to create accounts in both Euro and US Dollar. In addition, you can make your initial capital transfer in up to 18 currencies and, once you receive that money, convert it to Euro or USD Dollar as you wish. The currencies accepted for the initial transfer will depend on your country of residence, specifically whether it is a member of the EEA (European Economic Area) or not.
Below we explain the currencies accepted for the initial transfer according to your country of residence (applicable only to ETF accounts):
- Residents in member countries of the EEA (European Economic Area)*. You can make the initial transfer in up to 6 different currencies:
- Euro (EUR)
- United States Dollar (USD)
- British Pound (GBP)
- Danish Krone (DKK)
- Norwegian Krone (NOK)
- Swedish Krone (SEK)
- Residents in non-EEA member countries (rest of the world). You can make the initial transfer in up to 24 different currencies:
- Australian Dollar (AUD)
- British Pound (GBP)
- Canadian Dollar (CAD)
- Chinese Offshore Yuan (CNH)
- Czech Koruna (CZK)
- Danish Krone (DKK)
- Euro (EUR)
- Hong Kong Dollar (HKD)
- Hungarian Forint (HUF)
- Israeli Shekel (ISL)
- Japanese Yen (JPY)
- Korean Won (KRW)
- Mexican Peso (MXN)
- New Zealand Dollar (NZD)
- Norwegian Krone (NOK)
- Polish Zloty (PLN)
- Saudi Riyal (SAR)
- Singapore Dollar (SGD)
- South African Rand (ZAR)
- Swedish Krone (SEK)
- Swiss Franc (CHF)
- Turkish Lira (TRY)
- United Arab Emirates Dirham (AED)
- United States Dollar (USD)
* EEA member countries: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands , Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden)
In the account opening process you must choose in which of the two currencies you want us to manage your account. This selection has certain implications for how we distribute your assets:
- If you choose €, most of the assets (ETFs) will be denominated in €, and those that are not, when calculating the position daily, their equivalent value in € is calculated. In a € account we limit exposure to other currencies to 25% in the highest profiles and 10% in the lowest ones. The average is around 20%. In a portfolio denominated in €, the regional weight of Europe is somewhat higher than what would be a distribution according to the weight in the world of each region.
- If you choose USD, on the other hand, most of the assets (ETFs) will be denominated in USD and those that are not, when calculating the position daily, their equivalent value in USD will be calculated. In a USD account we limit exposure to other currencies to 25% in the highest profiles and 0% in the lowest ones. The average is around 10%. In a portfolio denominated in USD, the regional weight of the United States is somewhat higher than what would be a distribution according to the weight of each region.
A client can have a wallet in each currency (€/USD) or add a new additional account to their existing one. For this it will be necessary to contact inbestMe Customer Service (cs@inbestme.com), requesting the additional account in the other currency. Once the account is opened in a currency, it cannot be changed.