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Here you will find frequently asked questions and answers about the use of TEO. This information should make it easier for you to get started with the app and help you if you have any problems.
TEO is the everyday companion for online banking, available free of charge as an app and web application. The usual online banking functions including photo and QR code transfers can be found in TEO, as well as the previous transaction approval procedures.
There are also great functions and offers that expand online banking and make life easier: multibanking with transfer functions is available for accounts of almost all banks in Germany. The savings boxes help you save on special requests. The financial weather always shows clearly how "fluid" you are at the moment. With the contract and insurance manager, you can keep an eye on your contracts, including running costs and notice periods. In short: with just one TEO account you have an optimal overview and control of your finances.
TEO is not just modern online banking, because TEO offers additional added value. In the “TEO Plus” area you will find numerous discounted vouchers with which you can save up to 15%, attractive TEO offers from well-known partners and useful stories that match the interests selected.
Good news: TEO is free to use.
Yes, with TEO's multibanking function, customers of other banks can also use TEO and set it up as their personal finance portal. However, an extended range of banking functions is only available to customers of the Sparda banks in Augsburg, Baden-Württemberg, Munich and Nuremberg.
No, because the multibanking function makes it possible for existing accounts of almost all German banks to be integrated into TEO. Additional banking functions are also exclusively available in TEO for customers of the Sparda banks in Augsburg, Baden-Württemberg, Munich and Nuremberg.
For multibanking in TEO, almost all German banks can be integrated that serve at least one of the three interfaces XS2A, FinTS or Web Scraper. If a bank is available for TEO, it will be offered in TEO in the "Add account" selection.
The age from which a bank offers online banking access that can be integrated into TEO depends on the TEO user's bank and can be requested there. Registration with TEO is possible from the age of 7. For users with limited legal capacity (7-15 years), however, a legal guardian must approve the registration, for which he himself must be registered with TEO. The release takes place via two PINs, which are sent to the legal guardian by e-mail and which then have to be entered in the registration process.
The TEO app works on iPhones with at least iOS version 12.4.8 and Android devices with at least Android version 7.1.1. TEO can also be installed with some lower versions of the operating systems. However, it is then possible that TEO only functions to a limited extent. TEO Web is available for the web browser on tablets and computers. We recommend up-to-date browsers such as Firefox, Chrome or Edge. We generally recommend using versions of the smartphone operating systems and web browsers that are still supported by the manufacturer and have been updated with updates.
TEO app and web can be used anywhere there is internet reception. The TEO app can be downloaded from the Google Play Store and App Store in more than 130 countries. To use TEO Web, the website web.goteo.de must be accessible. However, only accounts from German banks can be integrated into TEO. The lifestyle offers in TEO such as the voucher shop, marketplace offers or financial products are also basically designed for use in Germany.
Attention: TEO support will never ask TEO users by phone or email to provide or change personal passwords or PINs for TEO or online banking. Corresponding e-mails or calls could be an attempt at fraud - we therefore ask all TEO users not to react to them and to end the conversation immediately.
If the login in TEO does not work, there can be several reasons:
1. The TEO account has not yet been activated: After registration, the TEO account must be activated, only then can you log into TEO. After registering in TEO, the user receives an email with an activation link to complete the registration. If necessary, please also check the spam folder for receiving the e-mail. If the e-mail has not been received or the deadline of 48 hours in which the link is valid has been exceeded, TEO Support [https://www.goteo.de/hilfe#contact] will be happy to help.
2. The TEO account is blocked: If the TEO login data are entered incorrectly more than three times, the TEO account will be blocked for security reasons. After the blocking, an email can be requested in order to assign a new password - with this new password it is then possible to log in again.
If there is another problem and the login is still not possible, the TEO Support [https://www.goteo.de/hilfe#contact] can help.
If, contrary to expectations, there should be problems using TEO, we apologize! We are constantly working to improve TEO and are therefore interested in accurate bug reports. It is therefore extremely helpful when users send us a crash report directly from the TEO app. This is very easy to do: As soon as you are asked whether an error report should be sent after the crash, simply click on "Send". If the problem persists even after restarting the app, TEO Support [https://www.goteo.de/hilfe#contact] can help.
Every new version of TEO is put through its paces by us. Should something still not work or an error occurs, TEO Support (https://www.goteo.de/hilfe) is happy to receive this valuable feedback. If the TEO app crashes, just restart it and click "Send" when asked whether an error report should be sent. Our feedback form is available for ideas or suggestions for improvement.
TEO App and Web are constantly being developed to improve the user experience even further. Our development plan for TEO App and Web shows what comes next.
Anyone who has an idea for TEO can use the feedback form.
With the ∑ in the brand name T∑O we refer to the mathematical sum symbol. The background is our slogan “More than the sum of its parts”, which we integrate symbolically directly into the name TEO. TEO connects several banks and other providers transparently, simply and openly on a central platform. Complemented by the unique lifestyle range from TEO, the result is a sum that unites the individual parts and goes beyond them.
TEO is a COMECO product. COMECO has a motivated team of bankers, IT specialists and other specialists who want to make banking a better experience. COMECO GmbH & Co. KG is an independent company based in Stuttgart. Seven Sparda banks are currently investing in COMECO, and further new investors are possible in the future.
There can be several reasons for this - depending on the initial situation:
• The bank does not exist in the selection list in TEO: In this case the bank is not yet available for TEO. Accounts of almost all German banks can be integrated into TEO, but individual banks are still missing. We are working on making these available in TEO, although this also depends on the respective banks. If a certain bank is missing in TEO, we look forward to receiving information via the feedback form.
• The bank is available in TEO, but the bank account cannot be integrated: In this case, TEO Support will be happy to help.
The background to this is the security requirements and settings at the respective bank, which can be different. As a result, when a bank account is integrated in TEO, the user may have to give multiple releases, e.g. enter TANs several times. This can also be the case when loading older account transactions. Please ask the respective bank for details.
The approval / TAN procedures for secure online banking vary from bank to bank. For the details for your own account, a look at the website of the respective bank, their customer support or the personal advisor should be able to help.
That is of course possible! In TEO, an individual name can be assigned to each account and an account picture can be stored. You can also select which accounts are displayed in which order on the start page and thus included in the total balance.
The IBAN and BIC of a separate account that is integrated in TEO can be found in the account details in TEO. From there, these data can easily be passed on using the “Share” (in the TEO app) or “Copy” (in TEO Web) function. Alternatively, the IBAN and BIC of a current account can also be found on the bank's debit card.
The recipient of the transfer usually announces the IBAN (e.g. on an invoice). If you have already transferred to this recipient from TEO, this data can be found under “Most frequently used” when creating a new transfer.
As a multibanking app and payment initiation service, TEO is dependent on data delivery from the banks whose accounts the user has integrated into TEO. For this reason, an update can in some cases take longer than in the online banking of the bank itself.
Thats is quite easy:
- In the sales display of the account from which the transfer is to be made, click on "New transfer" to access the transfer form or via the menu item "Transfer".
- Select the transfer recipient from the “Most used” list or enter a new recipient.
- Enter the amount and then, if necessary, the purpose of payment.
- For an appointment transfer, enter the desired date under “Execution”.
- Once all mandatory fields have been filled in, the "Submit" button turns red.
Click on "Submit" and go to the approval procedure to send the transfer.
In the "Most frequently used recipients" list, TEO automatically creates all recipients to whom the user has sent a transfer from TEO. This recipient list can be sorted by frequency of use or alphabetically. This means that the manual creation and maintenance of recipient data is not necessary.
TEO forwards the payments to the respective bank for execution. The processing time and the time of booking vary depending on the bank.
This function is available to customers of the Sparda banks that cooperate with TEO, as long as a transfer has not yet been booked. Under “Reserved transfers”, transfers that have not yet been booked can be viewed and changed or deleted. If a transfer is no longer displayed there, then it has already been processed by the bank and can no longer be changed. This can now be found with the details in the sales list.
This is not possible. Background: Since 2009 banks can no longer accept orders for remittance recalls due to legal regulations. In such a case, the customer support of the respective bank may be able to help, please ask there directly.
In the menu item “Transfers” you can find scheduled / reserved transfers for the selected account under “Reserved transfers”.
This could be for various reasons - one of the most common is a transfer limit set up by the user's bank for security reasons. Here the customer support of the respective bank should be able to help increase the limit. Then the transaction can be carried out. Even if the transfer limit is not the cause of the rejection of a transfer, the respective bank can help.
Yes, international transfers within the EU are possible in TEO. However, the transfer limits of the respective bank may apply here. Transfers in foreign currencies or to a country outside the EU are not possible in TEO - please contact your own bank directly.
There are EU countries in which the procedure for the electronic processing of credit transfers (EBA / Step2) has not yet been established. Online transfers to such a country are therefore not possible. In such a case, users should contact their bank directly.
No, collective transfers and collective direct debits are not supported by TEO.
If a direct debit can be returned, the function “Return direct debit” can be selected after clicking on your account turnover in the turnover details. Alternatively, all returnable direct debits can be found in the TEO app in the “Transfer” area and in TEO Web in the menu on the overview page of the respective account. This function is only available to customers of the Sparda banks that cooperate with TEO.
In the “Transfer” menu in the TEO app or on the sales page of an account in TEO Web, all functions for payment transactions are listed that TEO offers for the respective account. Transfers can be carried out for all current accounts integrated in TEO. Standing orders, direct debit returns and transfer postings are also possible for accounts of the Sparda banks that cooperate with TEO. Customers of other banks use the options in their bank's respective online banking for this.
In individual cases there may be difficulties with the account connection of Sparda accounts in TEO Web due to browser settings. It can happen that when the account details are finally confirmed, the process jumps back to the beginning and the TEO login screen appears again. This "loop" prevents the process from completing. We are currently working flat out on a solution that will be available with one of the next TEO versions.
Until then, the problem can be solved by adjusting the browser settings. The account can be connected with the changed browser settings. Here are instructions for the correct settings of the Firefox, Safari, Chrome and Edge browsers.
The financial weather in TEO gives the user an overview of his current “financial weather situation” by forecasting how the current account balance will develop over the course of the month. In this way, it supports the user in planning his expenses. The financial weather is set up individually once. For this purpose, regular income and expenses are selected from an automatic preselection, and further bookings can be added from the sales. The user can then specify on which reference date in the month the financial weather should be calculated and from which freely available amounts the financial weather sun shines and when clouds or even showers appear.
Adjustments to the financial weather once set up are possible at any time. To do this, simply call up the financial weather and select "Adjust" - then all information (income, expenses, reference date, amounts for sun / clouds / showers) can be adjusted.
In TEO Plus, vouchers can be purchased from many attractive partners at a discounted price. The vouchers can be found in the "Partner Offers" area on the respective partner's page, if vouchers can be purchased for them. Suitable vouchers on the topic can also be offered in theme worlds or stories in TEO.
TEO has an attractive range of vouchers from numerous well-known retailers and major brands that can be found in many shopping streets and, in any case, online. We are constantly expanding our range, which is why it is worth checking out the TEO vouchers regularly. Tip: Purchased vouchers can also be given away as gifts.
After purchasing a voucher in TEO, the user receives a confirmation email and the voucher is displayed with the status "On the way" in the voucher manager in TEO. As soon as the payment process is completed, the voucher is available in the TEO Voucher Manager with the status "Active" - a notification in TEO informs the user about this. The payment process and voucher provision are usually completed within a few minutes, but can take up to 120 minutes.
When purchasing vouchers in TEO, there are limits for the number and amount of vouchers within certain periods of time. Details are available directly in the voucher shop and before purchasing a voucher.
In order to provide the desired amount selected in TEO for a voucher, it can happen that several vouchers are issued that add up to the desired amount. Don't worry: With the voucher manager in TEO you can keep track of things if you receive several vouchers. Many merchants accept redeeming multiple vouchers per purchase. TEO provides information about this before purchasing a voucher.
How and where vouchers can be redeemed and how many vouchers can be used per purchase depends on the respective retailer. Details can usually be found on the website of the respective retailer.
The TEO user receives an email for every voucher bought in TEO. You can get an overview of all vouchers bought in TEO in the voucher manager. The current status and further information for each voucher is stored there. In addition, the voucher value can be adjusted if a partial amount of the voucher has been redeemed. Once the voucher has been redeemed in full, it can be archived in the voucher manager.
No, vouchers cannot be returned because you waive the right of withdrawal to buy a voucher.
If you have any questions about a specific voucher, please contact the respective dealer directly.
No. After the voucher has been made available to the TEO user, no further information will be sent to TEO.
Cooperation with Sparda banks
TEO is the new online banking of the Sparda banks in Augsburg, Baden-Württemberg, Munich and Nuremberg. COMECO GmbH & Co. KG as the operator of TEO and these Sparda banks work closely together in order to be able to offer TEO users innovative banking and attractive offers. The content in TEO comes from the TEO user's Sparda-Bank, from TEO directly or from one of the numerous partners who offer TEO users exclusive offers and discounts. The individual contents in TEO are always transparently marked with the Sparda-Bank, TEO or partner logo so that they can be assigned.
TEO is not a direct successor to Sparda online banking in app and web, but an independent application from COMECO GmbH & Co. KG. That is why all users need their own account for TEO. This can be created quickly and safely after downloading the TEO app or opening TEO Web.
The TEO app can send push notifications for current accounts of the Sparda banks cooperating with TEO if there are incoming or outgoing payments on these accounts. In order to receive push notifications about account movements, the function must be activated in TEO Settings> Communication> Push notifications. If necessary, in order to receive push notifications, the item "Receive notifications / notifications" must be activated in the general settings of the smartphone (under Notifications / Notifications) for the TEO app. The push messages are linked to the booking runs in the bank data center, i.e. they only appear when the booking is processed.
In TEO, many proven and frequently used functions from the SpardaApp and Sparda online banking have been adopted. Some less used functions are no longer available in TEO - instead there are many new offers that make TEO an everyday companion for all aspects of personal finances. And TEO is constantly evolving, so it may well be that one or the other well-known function will soon also be found in TEO. Our roadmap shows what will soon happen in TEO. We are also always happy to receive suggestions for new functions: Click here for the feedback form.
TEO users can view and download account statements and other communications from their bank in the post box in the “Security and Service” area in TEO Web. The postbox can be reached directly via the letter symbol in the main menu and a red point there indicates when there are new messages. The postbox can also be activated or canceled there. It is only available to TEO users with an account from the Sparda banks that cooperate with TEO. And because many users wanted it: The integration of the Postbox in the TEO app is already firmly planned!
In the contact center in the “Security and Service” area, TEO users can easily, quickly and securely exchange personal messages and files with their bank. Incoming and outgoing as well as the archive show the message history. The contact center is only available to TEO users with an account from the Sparda banks that cooperate with TEO.
By making an appointment in the "Security and Service" area, TEO users can quickly and easily arrange consultation appointments in a bank branch of their choice, view upcoming appointments or cancel them again. Appointments are only available to TEO users with an account at the Sparda banks that cooperate with TEO.
Under “Orders & Forms” in the “Security and Service” area in TEO Web, users can download forms from their bank and send orders to them. Which orders and forms are available depends on the respective Sparda bank. The area is only available to TEO users with an account from the Sparda banks that cooperate with TEO.
The security settings in the "Security and Service" area in TEO Web give TEO users access to the security cockpit of their Sparda bank, where they can manage their approval procedures or the online PIN, for example. The security settings are only available to TEO users with an account from the Sparda banks that cooperate with TEO.
Multibanking means that existing accounts of almost all German banks can be integrated into TEO. The balance and sales can then be displayed for these accounts and transfers can be made. For TEO users with accounts of the Sparda banks in Augsburg, Baden-Württemberg, Munich and Nuremberg, additional banking functions are exclusively available in TEO.
As a result of the EU directive PSD2, which came into force in 2019, banks are currently gradually converting their interface for multibanking to the so-called XS2A interface. Here TEO is dependent on the approach of the individual banks. As a result of the changeover, it may happen that your accounts can temporarily no longer be integrated into TEO or that individual functions (e.g. transactions) do not work. As soon as a bank is functioning smoothly again, the accounts / functions in TEO are available again. The use of accounts of the Bank of Scotland, Commerzbank and N26 in TEO is currently impaired.
No, because the changeover to the XS2A interface is carried out automatically by the bank and without the user having to do anything. When the changeover has taken place, TEO asks the user to re-authenticate himself for the bank account in question. Background: TEO can integrate accounts via the finAPI, XS2A and web scraper interface, so TEO can still be used after a changeover.
The time at which a TEO user has to authenticate himself for an account integrated in TEO depends on his bank - on the one hand on the interface provided, on the other hand also on the validity period the bank has defined for the access. The Web Scraper interface, for example, allows users to authenticate themselves for their account every time they access it. TEO cannot influence these requirements of the respective bank.
In principle, the account types current account, credit account, savings accounts and credit cards can be integrated in TEO. However, it may be that individual accounts and credit cards are not available in TEO - the background to this is the European Payment Transaction Directive PSD2, which was introduced in 2019, according to which banks are only legally obliged to make payment transaction accounts (current accounts) available to third-party providers via the new XS2A interface . It can therefore happen that in TEO not all account types, apart from the current account, are made available by the respective banks and credit card providers. Unfortunately, other types of accounts than the ones mentioned above cannot be called up in TEO, such as depot accounts.
TEO is safe, because the protection and security of user data have the highest priority for us and a lot is done for this: TEO and COMECO GmbH & Co. KG (as the provider of TEO) naturally meet all legal requirements and legal standards, such as the Federal Data Protection Act ( BDSG), the EU General Data Protection Regulation (GDPR) and banking law requirements. TEO is subject to strict regulatory requirements, as COMECO GmbH & Co. KG is licensed by the Federal Financial Supervisory Authority (BaFin) as a payment initiation and account information service and is therefore regulated by the latter. Of course, banking secrecy is maintained in TEO. Data transfers are exclusively encrypted and are protected by the most modern security measures such as firewalls, SSL protection and authentication procedures.
All data in TEO are encrypted according to German / European specifications in certified data centers with the highest security standards (according to ISO 27001). No sensitive payment information is stored on end devices (such as the smartphone or PC on which TEO is used).
For all data protection issues relating to TEO, it is important to know that the data processing in the TEO App and TEO Web as an online banking application must be viewed separately from the data processing on the TEO marketing website goteo.de. That is why there are separate data protection provisions for TEO App / Web and data protection provisions for goteo.de. When we speak of “TEO”, we usually mean the online banking applications TEO App and TEO Web. It is not necessary to visit the TEO marketing website goteo.de in order to use the TEO Web banking application - this can be accessed directly at web.goteo.de.
Which personal data is stored and processed when you use TEO App / Web when you use TEO App / Web is detailed and transparent in the data protection provisions for TEO App / Web. Personal data in TEO App / Web are never saved, processed or passed on to third parties without a legal basis, usually as a result of the consent of the TEO user. Details can also be found in the data protection provisions under “7. Explanations of the legal bases ”.
Consents and settings for voluntary data processing in TEO App / Web for product improvement and for marketing purposes by COMECO (and possibly your Sparda Bank) can be made when registering and when integrating bank accounts in TEO. We look forward to your consent: In this way we can further develop TEO and display particularly interesting content and offers suitable for individual interests in TEO, as well as draw attention to this with a message.
Consents once given can be adjusted at any time directly in TEO in the "Settings" area, i.e. also revoke data processing for these purposes for the future. The TEO user account remains unaffected.
If the data processing in TEO App / Web is generally objected to, TEO cannot be used and the user account will be deleted. The reason for this is that banking transactions as in the TEO App and Web are based on the processing of personal data and TEO cannot be used without data processing.
Personal data in TEO App / Web are never passed on to third parties without a legal basis, usually as a result of the consent of the TEO user. This means that COMECO GmbH & Co. KG, as the provider of TEO data, does not pass on data to third parties, unless this is explicitly stated in the data protection regulations and there is a legal basis for data protection. Details can also be found in the data protection provisions under “7. Explanations of the legal bases ”and under“ 10. Transmission to third parties ".
To delete the TEO account, please contact [email protected] You can also send a message by post or telephone. The account and the user data will then be deleted within the framework of the legal regulations and deadlines.
No, we do not store your biometric data. They are only on your own device.
TEO App / Web offer the photo and QR code transfer functions, with which the user can photograph / scan invoices, transfers or QR codes - the TEO app only needs access to the camera or the photo memory of the smartphone for this. With the photo or scan, the fields of the transfer mask are then automatically filled in.
For security reasons, the TEO app cannot be installed on rooted or jailbroken smartphones, because there it cannot be ensured that the TEO and bank data are effectively protected.
A savings box is a virtual savings account: With a savings box, you can easily save towards a specific savings goal, for example on a vacation trip or a major purchase. No rebooking or transfer to an extra account is necessary, because in a TEO savings box the money is only "put aside" virtually. A savings box can be filled with regular automatic or individual payments.
No, unfortunately not at the moment. Only the categories shown in TEO are available for your savings boxes. With the Sparbox name and a Sparbox picture, however, it is very easy to set up Sparboxes individually for the savings goal and thus keep track of things.
Of course, a savings box can be closed again - for example, if the savings target has been reached or personal savings plans change. In addition, a savings box can be closed when the savings target has been reached.
Stories are editorial articles that are divided into a total of 13 areas of interest. These interests can be changed at any time in the settings under: Settings / My interests. This means that you only find things in TEO that really interest you. The more precisely you adjust TEO to your personal needs, the more helpful TEO is in everyday life. In addition to explanations on how to use TEO, we offer new stories every month on financial topics, great trends, creative ideas and helpful tips.
By selecting interests in the TEO settings, the user can determine which stories he will be shown first in TEO. The areas of interest can be selected in TEO under Settings / My interests.
With TEO Plus you can reduce your everyday expenses and optimize your finances. In the “Partner Offers” category, you will find savings and value-added offers from attractive partners that make saving easier. In addition to a large selection of partner offers, (value) vouchers can also be bought at a discount. The “Financial Products” category offers selected financial and insurance offers for different needs and life situations. In addition, editorial and informative contributions, the so-called TEO Stories, invite you to read and discover.
TEO Plus offers numerous advantages such as discounts or exclusive offers that the TEO team has selected for TEO users.
In order to stay up to date with the TEO offers, it is worthwhile to visit the TEO Plus area regularly. In order to be made aware of special offers, it is best to subscribe to the TEO newsletter. You can do this in the settings of TEO> Privacy> Data processing> E-mail newsletter.
TEO users only have to click on the corresponding offer to receive all important information about the offer and the exclusive TEO advantage.
By clicking on “Continue to offer”, the user is forwarded to the website of the respective TEO partner without obligation. There the user receives further information about the offer, payment methods, delivery times and, if applicable, returns and can complete the purchase.
Since the TEO partner processes the respective order, he is also the contact person for further questions. Please also note the partner's delivery times and terms of delivery when ordering.
Contract and Insurance Manager
The contract manager helps users to have an overview of which running costs are incurred each month. Regardless of whether you are subscribing to your favorite streaming service, the gym or insurance: the contract manager clearly shows which monthly costs are incurred. In addition, TEO can remind you of notice periods in good time. So you can easily switch if you want and save time and money in the process.
The insurance manager gives the TEO user an overview of the insurance they have taken out and the associated regular costs. In addition, notice periods and notes (e.g. customer number or consultant contact) can be stored for each insurance. To use the insurance manager, the contract manager must be activated - from there the insurances are automatically transferred to the insurance manager. Further insurances can be added manually.
TEO intelligently and automatically recognizes most contracts by scanning the account transactions. In addition, the user can manually add further contracts from the transaction data. Insurance without sales can also be added in the insurance manager. Contracts and insurances that have been recorded once can be supplemented with additional information or deleted again at any time.
Further contact channels
We will be happy to help you as soon as possible by phone or email.Contact us
We want to know what you think about TEO. Do you have any comments or ideas for us? Always bring it on! TEO lives from your feedback.
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