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For me the main benefit of the card would be that you can more easily spend your savings in case of need. Trade Republic withdrawals using bank transfers are slow and usually take up to one business day. Also it is nice to have some extra competition between companies for our € as customers. 😃

@SmartMoneywithKai

3 ай бұрын

Thanks for sharing and good point. Though I keep my funds in Revolut savings to get 3.92% interest and withdraw from their to spending account is instantly and you can spend so not bad, but I agree, as a back up it's good to have and also you are totally right, more competition amongst those players can only be good as users long-term 👌 Cheers

Hey Kai! Nice to have a video of yours again pop up on my notification center! The main attraction of this for me is not the card itself, but the fact that you get the 4% interest while spending. On Revolut, you need a Savings Account and you always have to move it from one safe to another while Trade Republic makes it even more simple!! Thanks for the video. By coincidence, I applied for the card yesterday night🤣

@SmartMoneywithKai

3 ай бұрын

Hi Luka, thanks a lot and indeed, this is a great feature 👌 Comparing both cards on a free level with Revolut free level, TR card actually comes on top, only Revolut Ultra is better in my case but again, only if your spend and travel a lot I guess, otherwise TR is a solid option 👌 Cheers mate

Spending limit is set in the card configuration. Card settings -> Security section.

@SmartMoneywithKai

Ай бұрын

Thanks for sharing and great to see that they've added this feature now 👌

Can you set a limit for payments in card settings? I suppose this card is connected to the cash account, but the thing is we cannot have multiple cash accounts such as deposit accounts (like pockets/jars in revolut/wise) in order to keep little money in the account in which the card is connected and move the rest to another. A bit dangerous maybe? Sorry, i recently opened a trade republic account and I'm looking forward to move an important amount for the interest. I already apply for the card and I'm excited. Thank you for you work, keep up the good videos.

@SmartMoneywithKai

Ай бұрын

Hi 👋 Great question! Yes, you can set spending limits on your card in the card settings, which can help you manage your finances and add a layer of security. Unfortunately, Trade Republic doesn't offer multiple cash accounts like Revolut or Wise, which means you can't separate funds into different pockets. To mitigate risks, you might consider keeping only a small, necessary amount in your cash account linked to the card and transferring the rest to your Trade Republic account when you need to make investments. Always monitor your account closely to ensure safety. Excited for you to start using Trade Republic and appreciate your support 🙌 Cheers

Hi, could you explain about the fees and custody cost over the saveback service on the card?

@SmartMoneywithKai

Ай бұрын

Hi 👋, Trade Republic offers a saveback service where you can earn cashback and invest it directly, you can't cash it out. Regarding fees, Trade Republic generally has low fees compared to traditional brokers. They charge €1 per trade and no custody fees, making it cost-effective. For the saveback service, there's no additional fee for earning and investing your cashback. Cheers, Kai

I appreciate the honest review, this is so much more useful than some sponsored fluff piece! Thank you!

@SmartMoneywithKai

3 ай бұрын

That’s amazing to hear and exactly what I am trying to do on this channel. If I love and use something myself I’ll gladly share it, it not, I’ll clearly mention it too, just like Revolut stock trading while I do enjoy their card:) Cheers 👋

Great video, nice to learn more about Trade Republic and compare to Revolut. But, you mentioned 3.92% savings with Revolut - is this location specific? Can't see any mention of that within Austria

@SmartMoneywithKai

3 ай бұрын

Hi Mark, appreciate that 🙌 Yes, sadly as always Revolut does have different offers for different countries so if you don't have it yet, hopefully it'll be added soon. Then it will also depend on which plan you are on, I am on Ultra which usually pays the highest savings percentage. Cheers

The only problem I see with the Revolut cashback. It’s that it’s 1% outside of Europe. And 0.1% inside of Europe.

@SmartMoneywithKai

3 ай бұрын

Hi and yes, that's correct, though I use it with my Revolut Pro card where I get 1.2% on every transaction regardless of where it took place 😉

Great video ones again, i think the saveback is not a bad thing actually. This is 1% while on revolut it is way less. (Unless you are a freelancer and use revolut pro) But that is for most people not the case (and you pay €50 a month for Ultra). I completely understand and agree with your choice for revolut but i think for most people this is actually the best card out right now (in the EU). And as you have said, besides the saveback the other features are also great (only the analytics and app are a bit less good) Thanks again for the great video and i will catch you next time

@SmartMoneywithKai

3 ай бұрын

Hi Ward, thanks a lot and you made a great point, maybe I was overly harsh:) And indeed, I compared a free card to a pay card, if I compare TR card to Revolut free card then actually TR is surely the better card compared to Ultra not but sure, there is a monthly fee which still makes it better in my eyes, but as you said, it might not make sense for all. Overall though great to see TR enter the card game and from what I hear other brokers might soon join as well so this can only be great for us. Cheers and have a great weekend ahead mate 👋

@WardL

3 ай бұрын

@@SmartMoneywithKai there more competition means we all eventually win, have an amazing weekend.

Great video as always. I just got mine yesterday but still haven't used it...

@SmartMoneywithKai

3 ай бұрын

Thanks a lot 🙌 Nice, have fun playing around with it, I always enjoy it for sure, brings out the kid in me 😂 And nice to see TR keep innovating, giving Revolut a run for their money long-term 😉 Cheers

is that possible to switch eur to usd currency in app interface?

@SmartMoneywithKai

3 ай бұрын

Hi and sadly not at this stage, only EUR, that's why I use IBKR or T212 to invest as I buy mostly in USD 👌

When you buy ETFs/Stocks on Revolut, are they protected? Do they belong to you? For example if Revolut goes bankrupt what is going to happen?? Thank you for the very informative video, I will definitely try Trade Republic for myself!

@SmartMoneywithKai

3 ай бұрын

Thanks a lot and definitely, give TR a go. I use IBKR & Trading 212 for my stock buys. Regarding Revolut I made a video on that topic a while ago. kzread.info/dash/bejne/iImBtbWhgbPZido.html But given that they don't allow you to transfer your shares/portfolio to another broker, this is a big red flag for me. Cheers

Interesting, quite bias for Revolut cashback imo, Revolut stipulate in terms that Revolut pro card should exclusively be use for business expenses otherwise they might close the pro account. Revolut metal would be more comparable and then it's quite get interesting compared to it. I fully agree about the app it's a mess with transactions of card and account !

@SmartMoneywithKai

2 ай бұрын

Hi mate and yes, I am definitely biased as I am using it, but 1.2% cashback without limit is hard to fault. Technically all my transactions are professional, since the last two years and all good 😉 But if I compare TR to Revolut free card, then TR is way better, versus the paid plans I would prefer Revolut, but for worldwide free ATM withdrawals over €100 it's awesome and even better than Revolut Ultra 👌 Cheers

great video! which place have you been when you signed up on the waiting list? I am currently around place 1.170.000..

@SmartMoneywithKai

3 ай бұрын

Hi and thanks a lot 🙌 Oh at some stage I was like 800.000 ish I was like what? Better don't show the number at all, rather demotivating:) But then few days later I got it, though never got a message about it, just logged in clicked on card and there it was :)

Very interesting! Also 4% sounds good! What amount does it cover in case trade republic goes belly up (highly unlikely)! For example revolut covers 22.000 euro.

@colmkeatin

3 ай бұрын

100,000 but can only get interest on up to 50,000

@Lipos007

3 ай бұрын

@@colmkeatin thanks for taking the time to answer me. :)

@SmartMoneywithKai

3 ай бұрын

Great question and I can see it's already been correctly answered, thx for that. So in that way it probably currently has the highest protection levels in EU which is great 👌

@SmartMoneywithKai

3 ай бұрын

Thanks for answering 😉🙌

@Lipos007

3 ай бұрын

@@SmartMoneywithKai indeed, its what the banks in europe cover + double the interest in this case!

Thanks for the video, it was very informative. Can I withdraw bitcoin ledger whalet in trade republic. Can you make a ledger card video?

@SmartMoneywithKai

3 ай бұрын

Hi mate and thanks a lot. Sadly you can't send or withdraw Bitcoin to or from Trade Republic, so for me I would not recommend them for Crypto. I have not been using the Ledger Card to be honest and not planning to anytime soon, but will keep it in mind in case that changes. Cheers and happy weekend 🙌

great video but you are comparing a free card with a monthly fee card 😝 and also i don’t think that the roundup function is a bad thing, for me as a beginner it allows me to invest more on top of the 50€ that you have to invest and also you don’t even notice the little cent that you are investing so for me it’s a win win.

@SmartMoneywithKai

3 ай бұрын

Thanks for sharing and great point, didn't compare apple to apple there so for a free card it really is a good option, still though I prefer my paid plan as I ultimately compare value for money, but I will surely also keep my TR card for foreign ATM withdrawals 👌 Happy weekend 👋

Hi, can I please you for help, IBKR locked my account and I don't no how to unlocked, please help me

@SmartMoneywithKai

2 ай бұрын

Hi there, that would be impossible for me to do since it pertains to your personal account and personal details, best is to reach out to their support directly, they'll sort you out 👌 Cheers

Bist du deutsch 😂?

@SmartMoneywithKai

19 күн бұрын

Yep 😉👌

Peggior exchange in circolazione. Ti chiudono il conto dopo 3 mesi di utilizzo , senza fornire alcuna spiegazione sul motivo e costringendoti a vendere tutti i titoli in perdita , causando enormi danni economici. Statene alla larga da questa “”banca”” se non volete perdere i soldi.

@SmartMoneywithKai

2 ай бұрын

Hi sorry I don't speak Italian but seems you had not the best experience. Can't comment but I've been using them for years now and as a German licensed bank I doubt they just randomly close people's account or 'scam' anyone.

@Sandrino2323

2 ай бұрын

@@SmartMoneywithKai I have all the emails from Trade Republic to support what I claim. they told me they are closing my account for company policy reasons. without explaining the real reason. I am forced to sell the shares losing a lot of money.

@SmartMoneywithKai

2 ай бұрын

Hi you could try to transfer your shares to another broker support.traderepublic.com/en-de/826-How-can-I-transfer-my-securities-account-to-another-securities-account

@Sandrino2323

2 ай бұрын

@@SmartMoneywithKai I asked for this possibility but it has two limitations: 1) the destination broker must also be German. I have eToro but it doesn't support stock transfer. 2) the timescales are a few months since they are manual processes and therefore I do not have enough time to transfer them before closing the account.