someCitizen
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It's probably just scalability issues?
Trade Republic launching a debit card with 1% cashback
- Thread starter Otacon
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someCitizen
Registered User
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I'm not sure about that. I spent 11 euros yesterday and saw that I got this in the app then. I haven't tried to do anything with it though so I don't know if there are restrictions
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I just got my card today.
If you read through the saving plan, it will tell you that you have to set up a 50 per month savings plan to actually get the save back. You can earn up to 15 euro a month, and that goes into your savings plan.
I think I'd rather just get 0.5% cash from my AIB card.
If you read through the saving plan, it will tell you that you have to set up a 50 per month savings plan to actually get the save back. You can earn up to 15 euro a month, and that goes into your savings plan.
I think I'd rather just get 0.5% cash from my AIB card.
I just got an email this morning to tell me I can now order my Trade Republic debit card. Trying to weigh up if it is worth doing or not. Like @shipship in the previous post, I already get 0.5% cashback on my AIB credit card. I don't know if I want to be locked into the Trade Republic savings plan at €50 per month with the headache of ETF taxation in this country.
Just got my card offer as well. So looks like they rolled it out to Irish customers this week maybe.
I already had a savings account for buying ETFs so linked that.
I had thought those savings would get the 1% up to €15 a month but no, it seems those do not count, you need to use the card to buy other items online (virtual card) or in person (physical card) to get the 1% cashback.
So if that is true, surely this is only worth if you have over 50K in your TR account, as you get 4% on uninvested savings up to 50K. So why would I spend some of that to only get 1% back?
I already had a savings account for buying ETFs so linked that.
I had thought those savings would get the 1% up to €15 a month but no, it seems those do not count, you need to use the card to buy other items online (virtual card) or in person (physical card) to get the 1% cashback.
So if that is true, surely this is only worth if you have over 50K in your TR account, as you get 4% on uninvested savings up to 50K. So why would I spend some of that to only get 1% back?
Last edited:
Uncle Whelo
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Hi all,
Just wondering if I'm missing something here. Why would you want to run down a savings balance with a market leading 4% in return for 1% cash back on card purchases? I would prefer to make card payments from my existing bank's current account which currently attracts zero % and keep balances in the TR 4% savings account as high as possible.
Just wondering if I'm missing something here. Why would you want to run down a savings balance with a market leading 4% in return for 1% cash back on card purchases? I would prefer to make card payments from my existing bank's current account which currently attracts zero % and keep balances in the TR 4% savings account as high as possible.
DublinTexas
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The card is a gimmick to get you to start to invest into one of their savings plans so that they get regular money off you.
The 1% saveback is just to entice you to create a savings plan.
Same as the 4%, they are in principle only for your uninvested money, it's not designed to be savings account, it's a brokerage account to hold funds you don't have invested.
The card is just another way to try to get you to use their brokerage system.
The 1% saveback is just to entice you to create a savings plan.
Same as the 4%, they are in principle only for your uninvested money, it's not designed to be savings account, it's a brokerage account to hold funds you don't have invested.
The card is just another way to try to get you to use their brokerage system.