Trade Republic launches Visa card: 1% Saveback reward per transaction

Rick Steves

“The Trade Republic card comes with no monthly fees, offering all benefits such as free withdrawals or FX rates without surcharge. Additionally, users receive a 1 percent Saveback reward. Meanwhile, the free cash earns a market-leading 4 percent interest rate every month. That’s simply the most attractive card account in the European market.”

Trade Republic, Europe’s largest broker and leading savings platform, commemorates its fifth anniversary with impressive accomplishments.

The platform, now serving 4 million customers across 17 countries with assets totaling €35 billion, successfully closed the financial and calendar year 2023 with a commendable net profit.

Users can direct spare change into a diverse range of assets

A standout feature of the celebration is the unveiling of the Trade Republic Visa card, a revolutionary product that seamlessly integrates spending and saving. This card offers users a 1 percent Saveback reward for every transaction, channeling funds directly back into their savings plans. Users also have the option to round up payments, directing spare change into a diverse range of assets.

Christian Hecker, Co-Founder of Trade Republic, underscores the platform’s role in empowering a new generation of savers in Europe. “Over the past five years, 4 million people have started to let their money work for them with us. Today, they manage 35 billion euros with Trade Republic. This makes us one of the most important banks for a new generation of young savers in Europe. With the Trade Republic card, these people can manage an additional part of their financial lives with us. Every act of spending is an act of savings. This empowers every individual, regardless of income, to start their savings plan and begin building wealth. On our fifth birthday, this is a key milestone on our mission.”

The free cash earns a 4% interest rate every month

The Trade Republic card, available in Mirror or classic options with no monthly fees, sets itself apart by providing identical benefits, including free worldwide ATM withdrawals. Notably, users enjoy a market-leading 4 percent interest rate on their cash every month, reinforcing Trade Republic’s commitment to transparency and affordability in investing.

This strategic product launch aligns with Trade Republic’s dedication to making investing accessible. With a full banking license from the ECB, Trade Republic solidifies its position as a key financial institution in Europe. The Trade Republic card, alongside its existing brokerage offerings and cash interest rates, positions the platform as a frontrunner in retail financial services.

“Since 2019 Trade Republic has made investing easier, more transparent, and more affordable than ever before in Europe. Today, we are doing the same with our card. The Trade Republic card comes with no monthly fees, offering all benefits such as free withdrawals or FX rates without surcharge. Additionally, users receive a 1 percent Saveback reward. Meanwhile, the free cash earns a market-leading 4 percent interest rate every month. That’s simply the most attractive card account in the European market”, said Marsel Nikaj, Vice President Product at Trade Republic.

Trade Republic now holds a banking license in Europe

It was late last year that Trade Republic secured a full banking license from the European Central Bank (ECB), marking a major expansion in the firm’s offering, allowing it to launch a broader range of banking services.

With this full banking license, Trade Republic is now positioned as a comprehensive financial institution, expanding beyond its initial offerings to include deposit and lending services.

In 2023, Trade Republic expanded its product offerings, including passing on interest rates of 4 percent to its customers, opening bond trading for retail investors, and launching a new app. These developments have enabled Trade Republic to expand its market share in Europe, focusing on providing easy, secure, and affordable options for wealth accumulation.

Moreover, as part of receiving the full banking license, Trade Republic has strengthened its corporate governance by establishing an experienced audit committee. This enhancement of its corporate governance framework underscores the company’s commitment to regulatory compliance and operational excellence.

Trade Republic has distinguished itself as an innovator within the financial industry, pioneering affordable trading and establishing ETF savings plans as a new form of savings account. It was also the first financial institution in Germany to pass on higher interest rates, now at 4 percent, to all customers in January.

The brokerage firm turned bank offers commission-free access to capital markets, including savings plans, fractional investing, ETFs, bonds, derivatives, and crypto. It operates as a technology company with a full German banking license and is supervised by BaFin, reinforcing its credibility and reliability as a financial service provider.

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