(Finance) – From broker to bank. This is the path that is pursuing Trade Republicthe German company that announces today the launch of the Italian branchwhich allows you to now provide the half million customers in the country an Italian IBAN and a current account that offers 3 percent of annual interest.
Compared tocurrent investment account provided by Germany, where the salary or pay invoices could not be credited, with the new current account it is possible to transfer money, add or withdraw funds from other banks instantly, receive the salary and obtain the 3 percent of annual interest on deposits (paid monthly , without ceilings, eliminating the previous roof of 50,000 euros).
The current account integrates the existing offer of the debit card With Saveback, which allows you to receive 1 percent back of each payment made by paper, reinvested directly on your storage plan. The focus of the German platform were in fact no longer for some time the traders activated daily, but young investors who look at the long term, so much so that there is more than an active storage plan by customer.
Also, responding to the many reminders of customers in this sense and seeing it as a clutch point in the offer, Trade Republic has Introduced the administrative regimewhich automates the payment of investment taxes. Trade Republic will act as substitute tax, calculating and automatically retaining investment taxes and paying them on behalf of customers.
Italy thus becomes the second international market to be completely localized – After France in early January – from Trade Republic, which has over 8 million customers throughout Europe and manages more than 100 billion euros in asset. The company, looking at what happened across the Alps in a few weeks, expects great resonance in Italy for the new offer.
“THE’Italy is our main focus for 2025 – Comment Christian Heckerco -founder of Trade Republic – thanks to the new Italian branch, we can offer our products including features designed for the local context, making our offer one of the most competitive offers on the Italian market “.
Three years after its launch in Italy, thanks to the new Italian IBAN and the current account, Trade Republic will continue to switch to both new and existing customers of the ECB interest rates. Deposits continue to be distributed between partner banks such as Deutsche Bank, HSBC or JpMorgan And, for higher balances, they are further diversified in monetary funds.
“Today’s launch represents a significant milestone in the history of Trade Republic in Italy – he says Emanuele AgueciRegional Manager Italy, Ireland and Baltic countries of Trade Republic – We are the First Challenger Bank to automate taxation For its customers, eliminating an important barrier to the first investment for millions of young Italian savers “.