Since January 2024, Trade Republic has been offering its own Visa debit card. PR/Business Insider
The new Trade Republic card* is a free Visa debit card designed to combine paying with saving. It offers advantages such as one percent saveback, round-up and four percent interest on unspent money in the clearing account.
In addition, cash withdrawals from 100.00 euros are free worldwide. There are also no fees for transactions in foreign currencies.
However, there are limits to saveback. The premium is limited to 15.00 euros per month. In addition, customers must pay at least 50.00 euros per month into a savings plan of their choice in order to receive the bonus. Click here for the new Trade Republic map*.
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Trade Republic now also offers a map for paying and withdrawing money. The new Trade Republic card was launched in time for the self-proclaimed savings platform’s fifth birthday in January 2024. What you should know about it and whether it’s worth it? We have collected the most important information about this.
What is behind the Trade Republic card?
The new card is a Visa – Debit Cardwhich according to Trade Republic that Combine paying with saving should. She is as free virtual card as well as Classic and Mirror card available. The Classic card costs a one-time fee of 5.00 euros, while a one-time surcharge of 50.00 euros is due for the mirrored mirror card. She can be used anywhere Visa is accepted.
Saveback, round-up, interest, etc.: What advantages does the new Trade Republic card offer?
The exciting thing about the Trade Republic card: It offers Advantages How Saveback, Round-up and four percent interest pa up to 50,000.00 euros in the clearing account. With saveback you get a credit of one percent for every card payment of your amount. The saveback amount is then calculated invested in a savings plan of your choice. This will happen at the round-up Change of your amount is rounded up to the next full euro and also automatically invested in a share or ETF of your choice. If desired, Trade Republic can also automatically create a multiple of the change.
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Trade Republic pays you four percent interest on your balance – the advantages at a glance
There is no monthly basic fee for using the Trade Republic card. In addition, falls worldwide no fees for cash withdrawals from 100.00 euros at. Even for transactions in foreign currencies, Trade Republic waives any fees. Here is an overview of all the advantages:
No basic monthly fee
Worldwide from 100.00 euros withdraw cash for free
No fees for foreign currency transactions
One percent saveback
Round-up
Four percent interest pa
Conditions: Are there really no fees?
The conditions of the Trade Republic card are quite impressive. That’s how she is actually free of charge – apart from the 5.00 to 50.00 euros for the physical Classic or Mirror card. Only for For cash withdrawals of less than 100.00 euros, Trade Republic charges a fee of 1.00 euros. Besides, can individual retailers or machines charge their own fees, over which Trade Republic has no influence. We have listed all possible costs for the card here:
Unique 5.00 to 50.00 euros for physical card
1.00 euros for cash withdrawals under 100.00 euros
You may be able to do so at some retailers or ATMs Third-party fees attack
How does saveback work?
Saveback is designed to help you save. You receive one percent saveback for eligible payments. The money is automatically paid into a savings plan that you can choose yourself. But: Trade Republic has one Maximum of 15.00 euros per calendar month set. This corresponds to a transaction volume of 1500.00 euros per month. In order to receive saveback, you also have to Invest at least 50.00 euros per month in one or more savings plans.
What is Roundup?
Round-up can also help you save more money in your everyday life by The difference in your amount is automatically invested until the next full euro. As already mentioned, you can also decide that you want to invest a multiple of this change. The round-up amount is then deducted from the cash balance, collected and then invested weekly.
Criticism of the Trade Republic card: Are there any disadvantages?
However, the Trade Republic card doesn’t just offer advantages – you have to too accept some disadvantages that have already caused criticism. So complains the consumer advocate Niels Nauhauser from the Baden-Württemberg consumer advice center im „Daily Mirror“, that the saveback premium is limited to 15.00 euros per month and is also tied to monthly payments into a savings plan. He also criticizes the fact that Trade Republic Saveback can terminate with two weeks’ notice – The premium is therefore not contractually guaranteed indefinitely. Nauhauser considers this to be a misleading “Decoy advertising“. When asked by “Tagesspiegel”, a spokesman for Trade Republic said that they wanted to have these allegations examined by the legal department. Finally, the Trade Republic card does not (yet) allow transfers. However, this should also be possible in the future.
Is the Trade Republic card worth it?
Despite this criticism, the Map of Trade Republic is still worth it. The experts at also share this opinion Stiftung Warentest. Die Consumer organization examined the card closely and comes to the following conclusion: „The Trade Republic card is a debit card with favorable conditions and interesting extras. It offers a comparative Generous cashback offer, which the customer cannot freely dispose of. However, customers must be clear that this will not result in large sums of savings.” Furthermore, Stiftung Warentest calculates that a transaction volume of 500.00 euros per month only results in 5.00 euros in saveback. This corresponds to an annual savings amount of 60.00 euros – “too little to build wealth, but ‘given’ a nice extra.The consumer organization also describes the four percent interest per annum on cash balances of up to 50,000.00 euros as “top“.
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Who can apply for the card?
All new and existing Trade Republic customers can apply for the card. It was introduced in January 2024 and has been rolled out gradually since then. Currently available in the Trade Republic app a waiting listwhere interested parties can register to receive the card more quickly.
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