Why do I need a reference account at another bank?

To open a securities account with Ginmon, you need what's called a reference account. This is an existing current account in your name at any bank within the SEPA area. All transactions will go through this reference account: Ginmon will withdraw money for your investment by direct debit and will also pay out withdrawals to exactly your provided reference account. This is for your security so that outgoing funds can always be returned to you only.