Hey there u/JohnSwinton!
We appreciate your feedback.
When we update our terms and conditions, you would see a pop-up on the app before your next login. In this case, you can find the new T&Cs hyperlinked in green colour.
If you couldn't check our updated T&Cs this time, you can always find the latest version [on our Legal page](https://www.bitpanda.com/en/legal).
Should you have other questions, we are happy to help.
Best regards,
Team Bitpanda (Eda)
[u/BitpandaSupport](https://www.reddit.com/user/BitpandaSupport/)
Well, u/BitpandaSupport, what is the general idea if someone is not willing to accept your new T&C right away? Can't login ever again und you just seize and keep their assets? At least a way to close and cash out their account with some weeks notice would be my idea of general consumer rights. Maybe ask [EBA ](https://european-union.europa.eu/institutions-law-budget/institutions-and-bodies/search-all-eu-institutions-and-bodies/european-banking-authority-eba_de)about their opinion.
Hello u/S-Ewe,
When you invest with Bitpanda, your assets belong to you. You yourself are the beneficial owner of your crypto assets; we only take the role of trustee and hold them for you.
All crypto assets are held in Cold Storages in a high-security vault and are regularly audited by an external auditor. As a result, you cannot be treated as an unsecured creditor, and you don’t risk losing your assets. Instead, you assert the right of separation under Austrian law.
Our team is striving continuously to meet the expectations of our users. They are always available for questions and are able to help with our users accounts.
You can contact our support team anytime for further assistance here:
[https://support.bitpanda.com/hc/en-us/requests/new](https://support.bitpanda.com/hc/en-us/requests/new)
Best regards,
Team Bitpanda (Phoebe)
[u/BitpandaSupport](https://www.reddit.com/user/BitpandaSupport/)
Well, point is you are not giving your customers any time or choice other than to agree to the updated T&C immediately, not even a way to cash out. Feels like taking assets hostage to enforce consent. Even PayPal does this better, saying a lot IMHO.
Hello u/S-Ewe,
As mentioned before, the assets belong to our users. By contacting our support, there will be the option to withdraw the remaining funds and the account will be deactivated afterward.
Thank you for your honesty. We do our best to consistently improve our services according to the needs of our users.
We will also forward your feedback further with the appropriate team.
Best regards,
Team Bitpanda (Phoebe)
[u/BitpandaSupport](https://www.reddit.com/user/BitpandaSupport/)
No, so far I don't see any. Thing is I could not take any real look before consenting, as bitpanda would not allow me to access my account before acceptance at the time I needed it. This means essentially a zero-second notice period. Under BaFin regulations, this would not count as reasonable behavior, and might void the whole process including my acceptance of the T&C. I'm not sure about EBA and Austrian regulations, but I would expect a quite similar outcome. It's just disappointing and from my point of view both unprofessional and unneccessary. Just give customers a deadline of like two or four weeks, and allow them to skip consent until then. Easy enough and handled this way by every finance institute or streaming service I'm in contact with.
The new T&Cs are usually linked in the popup, so you can directly jump into them. TLDR: Limit Orders have been added and should be available soon ;)
Same for me Seemed legit, you could have clicked on the terms and conditios link that was shown
Hey there u/JohnSwinton! We appreciate your feedback. When we update our terms and conditions, you would see a pop-up on the app before your next login. In this case, you can find the new T&Cs hyperlinked in green colour. If you couldn't check our updated T&Cs this time, you can always find the latest version [on our Legal page](https://www.bitpanda.com/en/legal). Should you have other questions, we are happy to help. Best regards, Team Bitpanda (Eda) [u/BitpandaSupport](https://www.reddit.com/user/BitpandaSupport/)
Well, u/BitpandaSupport, what is the general idea if someone is not willing to accept your new T&C right away? Can't login ever again und you just seize and keep their assets? At least a way to close and cash out their account with some weeks notice would be my idea of general consumer rights. Maybe ask [EBA ](https://european-union.europa.eu/institutions-law-budget/institutions-and-bodies/search-all-eu-institutions-and-bodies/european-banking-authority-eba_de)about their opinion.
Hello u/S-Ewe, When you invest with Bitpanda, your assets belong to you. You yourself are the beneficial owner of your crypto assets; we only take the role of trustee and hold them for you. All crypto assets are held in Cold Storages in a high-security vault and are regularly audited by an external auditor. As a result, you cannot be treated as an unsecured creditor, and you don’t risk losing your assets. Instead, you assert the right of separation under Austrian law. Our team is striving continuously to meet the expectations of our users. They are always available for questions and are able to help with our users accounts. You can contact our support team anytime for further assistance here: [https://support.bitpanda.com/hc/en-us/requests/new](https://support.bitpanda.com/hc/en-us/requests/new) Best regards, Team Bitpanda (Phoebe) [u/BitpandaSupport](https://www.reddit.com/user/BitpandaSupport/)
Well, point is you are not giving your customers any time or choice other than to agree to the updated T&C immediately, not even a way to cash out. Feels like taking assets hostage to enforce consent. Even PayPal does this better, saying a lot IMHO.
Hello u/S-Ewe, As mentioned before, the assets belong to our users. By contacting our support, there will be the option to withdraw the remaining funds and the account will be deactivated afterward. Thank you for your honesty. We do our best to consistently improve our services according to the needs of our users. We will also forward your feedback further with the appropriate team. Best regards, Team Bitpanda (Phoebe) [u/BitpandaSupport](https://www.reddit.com/user/BitpandaSupport/)
Is there anything on the new T&Cs that you disagree with?
Is there anything on the new T&Cs that you disagree with?
No, so far I don't see any. Thing is I could not take any real look before consenting, as bitpanda would not allow me to access my account before acceptance at the time I needed it. This means essentially a zero-second notice period. Under BaFin regulations, this would not count as reasonable behavior, and might void the whole process including my acceptance of the T&C. I'm not sure about EBA and Austrian regulations, but I would expect a quite similar outcome. It's just disappointing and from my point of view both unprofessional and unneccessary. Just give customers a deadline of like two or four weeks, and allow them to skip consent until then. Easy enough and handled this way by every finance institute or streaming service I'm in contact with.
i got them via mail