How do I open my investment account with Selma?

Updated 1 week ago by Carina Wetzlhütter

At Selma you are able to ditch old post and paper processes and open a bank account with our custodian bank Saxo Bank (Switzerland) completely online.

Your data and your identity is always safe with us while you go through the process.

How it works

  1. After starting the account opening process, you will see the Saxo Bank (Switzerland) and Selma Finance contracts and can take time to download them, read through them and maybe even go back and reach out to us if there are questions.
  2. Once you are happy with the contracts, you will be able to advance to the next step - starting a live video chat in order to verify your identity. This can happen either via your laptop or desktop browser or via the IDnow app. IDnow is our online verification and online document signing provider. They work for companies like UBS, Erste Bank and N26 and enable big banks to let customers open bank accounts online.
  3. Keep your passport or identity card close. You will need it in the next step. And as you are starting a video chat… you might also want to put on pants 😉
  4. In the video chat you are going to talk to an agent from IDnow, who is comparing your passport or Swiss identity card information with questions he is asking you. By also also talking to you "live" via the video chat, the agent will then verify your identity.
  5. You will be able to sign the Saxo Bank (Switzerland), our custodian bank, contract and also Selma's contract right there by agreeing to them verbally and digitally signing them.
  6. Only shortly after you finish your call, the documents with your signature, as well as the IDnow checked Saxo Bank (Switzerland) and Selma Finance signatures show up in your Selma account.
  7. You start investing by transferring money to your new account.


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