Trade Republic paying 4% on deposits up to €50,000

AndroidMan said:
It is automated. There is no load or volume as such, its not like its a manual task and some poor chap has a pile of paperwork to deal with.
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They were certainly struggling with ID verification for new accounts, but agree that the rest of it will be automated.
 
time to plan said:
They were certainly struggling with ID verification for new accounts, but agree that the rest of it will be automated.
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I have no doubt it is automated, but every system has their scaling limits. It requires reconciling account funds with what displayed on TR (considering they are using escrow account)
 
Anyone know what rate applies to deposits over €50k?

If you had an amount over 50k, Does it work that 50k is still at 4% interest and anything above at the different rate? Or is that the entire is at the different interest rate?

Cheers
 
An Cigire said:
Anyone know what rate applies to deposits over €50k?

If you had an amount over 50k, Does it work that 50k is still at 4% interest and anything above at the different rate? Or is that the entire is at the different interest rate?

Cheers
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4% on everything up to 50k. 0% on everything over that. If you have 90k in there, you will earn 4% on the 50k and 0% on the remaining 40k
 
I got interest paid today from TR.
There is an invoice available in the app.
It does not detail any deductions.
I thought they were supposed to withhold 10% for tax?
Or does this happen at the end of the year?
Maybe I am missing something.
 
AndroidMan said:
I got interest paid today from TR.
There is an invoice available in the app.
It does not detail any deductions.
I thought they were supposed to withhold 10% for tax?
Or does this happen at the end of the year?
Maybe I am missing something.
Click to expand...

Lightning said:
Regarding deposit tax, see https://support.traderepublic.com/en-ie/1512-How-can-I-earn-interest-on-my-cash-balance (here).

"A capital gains tax is withheld for all customers in Germany. For international customers, no taxes are withheld on interest. It’s up to you to declare interest income in your tax return according to your local tax laws."

i.e. no deposit tax for Irish customers, but obviously the gross amount needs to be declared to the Revenue.

BTW, great to see 2.00% instant access being paid.
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Thanks.. I was sure 10%was mentioned on here but maybe that was the Raisin thread. Squirilling this cash away in various locations is getting confusing and also I need to ensure I update my will with the account details should the worse happen!
 
Trade Republic - When setting up from a referral, TR states "Complete all Steps to get reward of €25 worth of stock- Make 2 Investments. Perform a trade from your choice of thousands of Stocks, EFTS, or Crypto".
Have you folks, followed through on this - can you just order/buy 2 x €1 fractional shares (if that is what they are called)... or is this just a gimmick to get you 'trading'.
Thank you.
 
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