Trade Republic celebrates its 5th birthday with new card that offers 1 percent Saveback reward for every card payment
Five years after launch, Trade Republic has grown to Europe’s largest broker and leading savings platform. Currently, 4 million customers in 17 countries invest with Trade Republic, managing assets of around 35 billion euros. While passing ECB interest rates of currently 4 percent p.a. to customers, Trade Republic closed its financial and calendar year in 2023 with a net profit. Today, on its fifth birthday, Trade Republic opens the waitlist for its new Visa card, which combines spending and savings. Customers earn 1 percent Saveback reward back into their savings plan for every card payment. Additionally, customers can automatically round up their payments and invest their spare change into any asset.
“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”, says Christian Hecker, Co-Founder of Trade Republic. “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.”
To mark the anniversary, Trade Republic is launching its biggest product innovation: the Trade Republic card. It seamlessly integrates spending with saving. Customers can use the debit card for online or offline payments. For every card payment, they permanently earn a 1 percent Saveback reward, invested into a savings plan. Additionally, the card enables rounding up payments to invest the spare change into any asset.
“Trade Republic uniquely combines daily payments with investing. The partnership between Trade Republic and Visa ensures that every card payment counts towards wealth accumulation”, says Albrecht Kiel, Regional Managing Director Visa Central Europe.
Contrary to many banks, the Trade Republic card has no monthly fees. Customers can choose between a Mirror card or classic card for an issuance fee, or create a free virtual card. All cards offer identical benefits and allow worldwide unlimited and free withdrawals; for amounts under 100 euro occurs one euro fee. Today, existing and new customers can join a waitlist for the new card. The cards will be delivered to customers in the coming months.
“Celebrating our fifth anniversary with the launch of this unique product in Europe is a great reward for our teams. This is the first card that concretely empowers users by combining savings and spending, for everyone, regardless of their level of wealth. We are thus giving savings power back to the people through every purchase”, says Matthias Baccino, European Markets Group Lead bat Trade Republic.
In the past five years, Trade Republic has become the largest European broker and leading savings platform. It recently received a full banking license from the ECB. Meanwhile, Trade Republic generated net profits in the last financial year (ending 09/30/23), as well as the last calendar year, while passing on the current ECB interest rate of 4 percent to its customers. “Trade Republic is independent with a full banking license, has among the most innovative banking technology in Europe, extensive financing from globally leading investors, and is profitable. With our brokerage offering, cash interest rates, as well as the Trade Republic card, we now provide the best offer for retail money in Europe. With this foundation, we will continue to build one of the most important financial institutions in Europe”, says Co-Founder Christian Hecker.
About Trade Republic
Trade Republic is on a mission to set millions of Europeans up for wealth creation with secure, easy and commission-free access to capital markets. With customers across 17 European countries and billions of assets under management, Trade Republic is already the home screen app for many Europeans to manage their wealth. It offers savings plans, fractional trading of shares, ETFs, bonds as well as derivatives and crypto and, from January 2024, the Trade Republic card with a 1 percent Saveback reward. Trade Republic is a full-service bank and is supervised by the Bundesbank and BaFin. As Europe’s largest broker and leading savings platform, Trade Republic has received growth capital from leading global investors such as Accel, Peter Thiel’s Founders Fund, Ontario Teachers’, Sequoia and TCV. The Berlin-based company was founded in 2015 by Christian Hecker, Thomas Pischke and Marco Cancellieri.
