Trade Republic Expands to Spain: High-Interest Savings with Spanish IBAN

Trade Republic Launches Spanish IBAN, Offers High-Interest Savings Accounts Spain's financial landscape is changing with the arrival of Trade Republic, a German bank that recently introduced a Spanish IBAN for its accounts. This move allows Spanish residents to seamlessly manage their finances within the country while benefiting from the bank's attractive interest rates. Trade Republic offers a 2.27% Annual Equivalent Rate (TAE) on savings accounts, a significant advantage compared to many traditional Spanish banks. This is not just about higher returns; it's also about convenience. The Spanish IBAN simplifies tax management for Spanish residents, eliminating the complexities associated with international banking. "Now everything related to taxes in Spain is managed directly from the platform," explains one of the women in a recent viral video promoting the bank's services. The video's popularity underscores the public's growing interest in finding better savings options. Trade Republic's move into the Spanish market is a positive development, offering consumers more competitive financial products and streamlined services.