Trade Republic
Pros & Cons
Pros
- Deposit protection: DGS €100k (DE) per partner bank — cash held in escrow at partner banks; liquidity-fund balances not DGS-covered
- Interest on uninvested EUR cash
- commission-light brokerage
- local IBANs per market
Cons
- —
Rating breakdown
Why this score
Good fit for
- you want cashback on card spend
- you want yield on an idle balance (up to 3.04%)
- you receive SEPA transfers
May not fit if
- you need to hold USD
- you need crypto in or out
This is a licensed bank, so eligible deposits are protected by the deposit guarantee scheme (DGS) up to €100,000 per customer. That's a key safety factor when choosing.
- Licence
- Bank · BaFin
- IBAN
- DE, ES
- SEPA Instant
- Send & receive
- Verification of Payee (VoP)
- Rolling out
Deposit & savings rates
Compare all deposits →DGS €100k protected DGS €100k (DE) per partner bank — cash held in escrow at partner banks; liquidity-fund balances not DGS-covered
| Product | Currency | TAE / APY | Term | Conditions | Source |
|---|---|---|---|---|---|
| Cuenta remunerada (efectivo) | EUR | 3.04% | On demand | Sin nómina, sin límite de saldo, sin requisito de cliente nuevo. Efectivo en la cuenta del bróker. | Sourceas of 2026-06-23 |
Editorial review
Data reviewed by Ilya ChernetskiyFounder and editor, nomonedaUpdated: 2026-08-15
Trade Republic is a licensed bank (BaFin), so eligible deposits carry DGS €100k (DE) per partner bank — cash held in escrow at partner banks; liquidity-fund balances not DGS-covered.
It is a global fintech licensed in DE supporting EUR. FX model: EUR-only; no FX on euro spend.
It tends to suit cash interest, brokerage, eur savings.
Fees & terms
- Exchange rate
- EUR-only; no FX on euro spend
- Card cost
- Free virtual; small fee for physical
- Local-currency withdrawal
- Not disclosed
- USD withdrawal
- Not disclosed
- Withdrawal fees
- Not disclosed
- Limits
- Not disclosed
- USD yield
- Not disclosed
- Cashback
- Saveback on card spend into investments
- Currencies
- EUR
- Cards
- Global Physical, Global Virtual
- Transfers
- SEPA in/out, SEPA Instant in/out
- Payments
- Apple Pay, Google Pay
- Licence
- Bank — BaFin
- IBAN
- DE, ES
- Multi-currency account
- Local IBAN per market (e.g. ES, DE)
- SEPA Instant
- Send & receive
- Verification of Payee (VoP)
- Rolling out
- FX model
- EUR-only; no FX on euro spend
- Opening requirements
- No local address needed
- English support
- Yes
- Remote opening
- Yes
- Headquarters
- Germany
Transfer routes
One row per direction, rail and currency — with what we hold on fees, speed and limits. A blank fee is not a free transfer; it is a fee we have not collected.
| Route | Fee | Speed | Limits |
|---|---|---|---|
| SEPAincomingEUR | Not published | Not published | — |
| SEPAoutgoingEUR | Not published | Not published | — |
| SEPA InstantincomingEUR | Not published | Instant | — |
| SEPA InstantoutgoingEUR | Not published | Instant | — |
Who holds your money
The name on the app is not always the company holding the balance, and deposit protection follows the licence rather than the brand.
| Role | Organization | Answerable for | Applies to |
|---|---|---|---|
| Licence holder | Trade RepublicBaFin | Operating under regulatory permission | All currenciesDGS €100k (DE) per partner bank — cash held in escrow at partner banks; liquidity-fund balances not DGS-covered |
| Deposit guarantee | DGS €100k (DE) per partner bank — cash held in escrow at partner banks; liquidity-fund balances not DGS-coveredBaFin | Paying out if the deposit holder fails | EURDGS €100k (DE) per partner bank — cash held in escrow at partner banks; liquidity-fund balances not DGS-covered |
Recent updates
- 2026-08-15checked11 facts about Trade Republic re-checked against their sources
- 2026-06-23checked1 deposit rate at Trade Republic re-checked
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FAQ
- Is my money protected?
- Yes. Trade Republic holds a full bank licence (BaFin), so eligible deposits are protected by DGS €100k (DE) per partner bank — cash held in escrow at partner banks; liquidity-fund balances not DGS-covered.
- What IBAN and transfers?
- Trade Republic issues a DE/ES IBAN. SEPA Instant: send + receive. Multi-currency: Local IBAN per market (e.g. ES, DE).
- Can I open remotely, in English?
- Opening is remote. English support is available. Requirements: No local address needed.
Data provenance & verification
Every fact is checked against an official source and stamped with a date. We re-check fees quarterly and document requirements twice a year. Fields not yet independently verified are labelled honestly.
Independently corroborated, rated on the full model and checked within the year. This service can appear in our ranked picks.