It beats the 0.00000001% available on most other savings accounts. Trade republic is a German online stock broker. 2% is available on cash balances of up to €50,000 and is covered up to €100,000 by the deposit guarantee scheme.
I did credit card deposit of 500 earlier..just tried another and it added 0.7% fee..are there charges to deposit funds?
I didn't pay any fees or charges. I deposited using a SEPA transfer. I would say it is because you used a credit card.
How long did it take?
I used SEPA. Same day transfer in the morning and appeared in the evening.
Yes for credit card deposits, as per How can I deposit money at Trade Republic with my credit card or mobile wallet?
The first deposit is free for new customers.
For all subsequent deposits we charge a fee of 0,7%. The fee will be added separately to your selected amount. For example, if you deposit 100 EUR, 100.70 EUR will be debited from your card.
SEPA inbound however is free.
Could I get referral code please
Check your inbox. :)
I've logged money into this account but not received anything from Trade republic in the post. Nothing from them at any time even to say that I opened an account. This worries me.
Why? It is how a lot of these online banks and brokers work. If they need to send you something they send it to you via email or through their website. I don't think I've ever received anything in the post from Revolut, N26, Bunq, DeGiro.
well not for me..lets see if it comes today ! did on Thursday morning still waiting
For claiming under the deposit guarantee scheme..If things go belly up, how do you prove how much money you had?
It is a good question but it applies to most banks as well. I recently opened a EBS and PTSB account and transferred money to them. If they went tits up tomorrow how would I prove how much money I had with them. PTSB did send me documentation confirming the account was opened but realistically that doesn't matter. It doesn't prove I had any money with them and I'm not going to hold on to it for very long. EBS sent me an email with details which is something I will at least hold on to. Getting a piece of paper in the post saying you opened an account doesn't help you prove how much money you have with that bank.
Can somebody explain the 2% monthly interest?
So I put €50,000 into the account. A month later I get 2% interest = €1,000 euro into my account? I now have €51,000.
And then the next month, I get 2% again of €51,000 = €1,200? Now I have €52,400.
Etc etc every month.
Its 2% annual paid monthly. So youd get 80 something a month, totalling to 1000 for the year. That is if you keep the full 50k there the whole time, and ignore the minor compounding
Ok. I knew it was too good to be true. At least the way I interpreted it!
Any idea how a mortgage lender would view this type of "savings" account?
They only pay interest on the first 50 K anything above 50k does not earn interest.
I guess printing out the account statement and details of transfers in proves you had funds in the account. The bank guarantee scheme is a bit like a back up generator. Nobody knows how or if it will work once it has to be put into action. I suspect it may take time to get funds but it's existence is primarily to provide certainly.
Thr is cost if €1 for each trade ? so you have to give up min €5 i guess?
Also does not allow selling amount in fractions !! no decimal place anywhere😂😂
To figure out the amount of interest given in a single month, multiply the amount in your account (up to a maximum of €50,000) by 0.00165158.
So if you have €50,000 in there, it'll earn €82.58 per month.
Try using the desktop website for this. The issue with the PPS number not allowing letters was solved by using the desktop website so maybe it will work with this.
yeah worked on desktop site..
well only got €25 worth free stock ! What am i missing
It recently changed to €25 and before that it was up to €50 (and fractional shares to that amount).
There were also various conditions, some people had deposit €3000 and do 3 trades, some had deposit €1000 and do 5 trades.
It depends on what promotion you signed up for and if you did fulfill all conditions in time.
Check what you signed up for and then inquire if you have met the conditions.
still says €50 for referring so assume code i used will get €50
I don't know about the rest of you, but I just cannot get past the address page on sign up. "Zip code not valid" no matter what eircode format I use.
My house is out in the country and the address doesn't seem to auto populate, whether that makes any difference?
I've tried through the desktop site and just get redirected back to the app. Sent support a message 2 week ago and nothing back.
You get 25 euro regardless of code. The code you used gave the referer 50 euro not you....
delete
How do you login on the website. It keeps pushing me to use the app
Edit:Used Windows device and it allowed me to login with browser
I really don't like the way they slow down withdraws. I initiated a withdraw on Friday, it only hit my reference account this morning.
And it's not the first time there is a delay.
Now sure, they state it might take up to 2 days and frequent withdraws from an interest earning account are not good, but I found a better offer and I really don't appreciate them taking time to give me my money back.
Also, before you ask, the better offer is not available for non Germans, sorry.
Well tell us the better offer anyway, I'm nosy!
2.4% at TF Bank
