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Trade Republic launches its payment card: 4 things to know

© TradeRepublic

Trade Republic, an online investment platform, has just launched its first payment card, marking a new step in the development of its digital financial services.

This payment card with a unique design (mirror effect) and Visa certified, is not only a practical transactional tool, it also integrates a set of tools to optimize your finances.

Here are the 4 things to learn about the new Trade Republic payment card.

100% free

One of the greatest advantages of the Trade Republic payment card is its total absence of fees. No annual fees, no fees for opening or maintaining the account associated with the card.

Like neobanks like Revolut, and while traditional banks are preparing to increase their fees, Trade Republic is therefore choosing free. A now classic strategy for new players but not very profitable.

Unlimited and free withdrawals

The Trade Republic payment card allows money withdrawals at ATMs without limits and without fees anywhere in the world. This feature is particularly beneficial for travelers or those who prefer cash transactions.

The freedom of being able to withdraw money 8217;money anywhere in the world without worrying about additional fees is a huge advantage. Especially when we know the expected increases in traditional banks.

4% interest per year

Investment specialist, Trade Republic is generous with the interest rates offered on cash deposited.

Users can earn up to 4% interest per year on their account balance , a rate significantly higher than that of many traditional savings accounts. And the payments are monthly!

This therefore represents an opportunity to increase your savings passively, simply by using the card for daily expenses.

1% cashback and roundings

In addition to interest, the card offers 1% cashback on all purchases. This means that every time you use the card, you get 1% back of the amount spent, which can add up significantly over time.< /p>

In addition, the card offers a payment rounding option, allowing you to save even more. For example, for a purchase of €3.50, the amount can be rounded up to €4, and the additional €0.50 is automatically paid into your savings account.

All these savings solutions complement what Trade Republic already offered. The platform, a specialist in equity investments, has based its success in particular on the simplicity of its application and the development of ETFs.

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116