Blackcatcard - interest on balance

[void]

This just hit my inbox - just in case some lovers of counterparty risk would like to make "easy money"

 

[uplana]

Looks interesting to me, however, it would require that I trust them with a big portion of my money and I don't do that. Why would I want to earn 4% in interest if this is an high risk investment where I can risk all my money!??

 

[AlexPCS]

Blackcatcard reamins an EMI so far, not a bank, so seems like they do not fall under asset protection plan for all the balances under 100k EUR. But they call themselves a banking platform, kind of misleading

 

[bigdaddyleon]

The interest was credited to my account without any problems, I had a smaller 5-digit sum parked there for a few weeks.

Trade Republic should currently also have 4% interest per year on EUR (they also recently received their banking license)

 

[uplana]

Small amount bring you small interest - how is that fun ?

 

[Cavaliere]

An EMI named after a ransomware strain is always hard to trust with your savings. Look into Papaya Ltd. and the recent AML complaint.

 

[Forester]

The interest was credited to my account without any problems, I had a smaller 5-digit sum parked there for a few weeks.

Good to know.
Nevertheless, 4% interest per year on EUR is IMO not so much... (taking into account that this is not a conservative investment...)

Trade Republic should currently also have 4% interest per year on EUR (they also recently received their banking license)

Correct; perhaps worth mentioning that they currently onboard German residents only.

 

[bigdaddyleon]

Correct; perhaps worth mentioning that they currently onboard German residents only.

https://support.traderepublic.com/en-ee/701-Why-do-I-have-to-be-a-permanent-resident-to-open-an-account

"
As an investment firm, we can only accept applications from customers if they are a permanent resident in the country in which we also offer our product.

At the moment, Trade Republic is available in Germany, Austria, France, Spain, Italy, the Netherlands, Belgium, Luxembourg, Finland, Ireland, Greece, Portugal, Estonia, Latvia, Lithuania, Slovenia and Slovakia.

We are working on giving customers residing in other countries access to Trade Republic in the future."

 

[Forester]

https://support.traderepublic.com/en-ee/701-Why-do-I-have-to-be-a-permanent-resident-to-open-an-account

"
As an investment firm, we can only accept applications from customers if they are a permanent resident in the country in which we also offer our product.

At the moment, Trade Republic is available in Germany, Austria, France, Spain, Italy, the Netherlands, Belgium, Luxembourg, Finland, Ireland, Greece, Portugal, Estonia, Latvia, Lithuania, Slovenia and Slovakia.

We are working on giving customers residing in other countries access to Trade Republic in the future."

Well, so they apparently have inconsistent information at their pages – see their FAQ, Who can open an account

 

[Marie Manila]

Does anyone know, when they credit cashback for card purchases?
The cashback for my debit card purchases last month are still missing.

I hope the interest will be paid more reliably.

 

[uplana]

Well, so they apparently have inconsistent information at their pages – see their FAQ, Who can open an account

So this service is only for people living in Germany! Nice, all the rest can't use this service..

 

[Forester]

So this service is only for people living in Germany! Nice, all the rest can't use this service..

From what I recall, also another DE neobanks started in this way, N26 included, I guess. Maybe some local habit

And seriously – the another information referenced by @bigdaddyleon names Eurozone countries (just at a glance, have not checked it thoroughly). This also makes sense.

So either one is outdated or one concerns current account openings and another one concerns investments...

 

[bigdaddyleon]

Well, so they apparently have inconsistent information at their pages – see their FAQ, Who can open an account

 

[Marshal]

View attachment 5841

Seems like they are only available in countries where euro (€) is the official currency.