Trade Republic Review 2025: Best Modern Bank in Germany?

What started as a popular low-cost investment platform has now evolved into a full-fledged digital bank. With a complete German banking license, Trade Republic now competes directly with established neobanks like N26 – and in many ways, it's offering even more.

When Trade Republic launched its savings account in Germany last year, they made waves by offering an incredible 4% interest rate – something unheard of for a free bank account in Germany. When European Central Bank rates change, Trade Republic interest rate adjusts accordingly – this means they now offer 3% interest (as of January 2025), matching the current ECB rate. While other banks offer high interest rates on savings on premium accounts or as temporary 3-6 month promotions, Trade Republic made it available to everyone, completely free – making it the best savings account in Germany for many users. For comparison, N26 – another popular bank for expats in Germany – offers a 3% interest rate on savings only on their premium N26 Metal plan which costs €16.90 per month.

What makes using Trade Republic as a savings account in Germany particularly attractive is its flexibility. Unlike traditional German savings accounts (Festgeld) that often lock your money away, Trade Republic lets you access your funds whenever you need them. Interest rate in Trade Republic is calculated daily and paid out monthly, giving you a transparent view of your money's growth.

Is it safe to keep your savings in Trade Republic? Yes – it is covered by the German Deposit Protection Scheme (Einlagensicherungsfonds), protecting your savings up to €100,000 – the same protection you get with traditional German banks.

Why Trade Republic Has The Best Debit Card in Germany

Our Trade Republic review wouldn't be complete without mentioning their unbeatable debit card offering. If you've been living here for a while, you're probably used to debit cards in Germany being just... well, debit cards – no perks, no rewards. Trade Republic is changing this narrative: with its Visa debit card, you can earn 1% back on all your purchases, up to €1,500 monthly spending. That means you could pocket up to €15 every month just for buying things you'd buy anyway. Did someone say “free money”?

There is one condition to get this 1% back: you need to invest at least €50 in savings plans each month – that’s why they call this offer “Saveback” and not cashback. But €50 is a pretty modest amount, and regular investing is something most of us should be doing anyway. You can spread this amount across multiple savings plans, and in my experience, setting this up takes just a few minutes – so it’s manageable even if Trade Republic is not your primary investment platform.

The virtual Trade Republic debit card is completely free and works seamlessly with Apple Pay and Google Pay. If you prefer something physical in your wallet, you have two options:

• A classic version for a one-time fee of €5

• A premium mirror finish card for €50 (it looks absolutely stunning, but I'd be worried about scratches – form over function perhaps?)

Both Trade Republic debit cards offer unlimited free worldwide ATM withdrawals for amounts over €100. If you travel internationally, you're going to love this feature – in contrast, most German banks charge around €3-5 per withdrawal abroad.

Since getting the Trade Republic debit card, I've found myself reaching for it for nearly all my purchases. If you're looking for the best everyday debit card in Germany, you probably can't do better than this — and if you're in the market for a free credit card instead, check out my article on AmEx Payback.

Trade Republic's investment platform is where it all started: it's a new generation of low-cost online brokers, akin to what Robinhood offers in the US. Trade Republic makes investing easy and affordable, charging just €1 per trade – a fraction of what traditional banks charge. Even better – if you invest through savings plans (like monthly ETF investments), you pay no fees at all!

In my opinion, Trade Republic is one of the best investing apps in Germany, and it’s served me well for a few years now. Their selection of stocks, ETFs, and cryptocurrencies is comprehensive, and the platform is easy to use even for beginners: the interface is clean, intuitive, and actually makes investing enjoyable. They also make tax reporting easier for their users in Germany by calculating your annual tax-free allowance (Freistellungsauftrag) and providing ready-to-use tax documents – something you won't get with non-German platforms like Trading 212 or eToro.

Another thing I really appreciate about Trade Republic is how it simplified my money management by putting everything in one place. Think of it as one smart money pool – you can instantly move funds between saving, spending, and investing. Sell some stocks? The money's instantly available for your grocery shopping. Got your salary? Immediately put some into savings and/or investments. No more logging into multiple apps or waiting for transfers between accounts!

Everything happens in Trade Republic’s sleek, modern app – a welcome change from traditional German banking apps (if you've ever wrestled with photoTAN or waited for activation codes to arrive by paper mail, you know exactly what I mean). Everything is available in English, including customer support, which has been consistently responsive in my experience.

Trade Republic Current Account

For a long time, Trade Republic IBAN only worked for transfers between your own accounts, but they finally launched current account functionality in December 2024. This has transformed Trade Republic into a full-featured bank account you can use for all your daily banking needs, and you can now use Trade Republic just like any regular bank account in Germany:

• Send money to friends, family, or any other bank account

• Set up direct debits (Lastschrift) for recurring payments like rent, utilities, or gym memberships

• Create standing orders for regular transfers

• Receive your salary directly through your Trade Republic account

Because Nothing is Perfect

While I'm clearly a fan of Trade Republic, there are a few limitations to keep in mind:

• There are no physical branches or phone support: all customer service is handled through in-app messaging. Personally, as a typical phone call-hating millenial, I prefer this, and in-app support worked well for me when I needed it — but if you prefer speaking with someone directly, this could be a drawback.

• Since Trade Republic started as an investment platform, its app interface prioritizes investment features. While all banking functions are there and work perfectly well, the day-to-day banking experience might feel less intuitive compared to dedicated banking apps like N26. That said, it's just a matter of getting used to a slightly different layout.

Ready to Try Trade Republic?

Trade Republic has really upgraded my money management, giving me high interest rates on my savings and 1% cashback on my purchases with their debit card. Are you ready to see what it can do for you and your money? Sign up for Trade Republic using the link below: