But not everyone thinks so: Shortly after the payment card was introduced, consumer advocates spoke out and described the neobroker’s advertising as “misleading” and “anti-competitive”. Because what is only stated in the terms and conditions: The cashback bonus is limited to 15 euros per month. The Baden-Württemberg consumer advice center has warned Trade Republic because of the alleged misleading. And I ask myself: Doesn’t the world have other problems that consumer advice centers should rather address?
Also read: Trade Republic’s surprisingly poor numbers
In order to get the maximum bonus of 15 euros, I would have to pay 1,500 euros in consumer spending via my card. According to the Federal Statistical Office, the average consumer spending of a person living alone, minus rent, which is usually debited from the account via direct debit, already amounts to 1,081 euros. And people with higher incomes in particular are likely to quickly spend more than 1,500 euros on consumption. For the average customer at Trade Republic, this limit should probably be enough.