How to withdraw from Trade Republic

Trade Republic is a popular mobile broker platform that allows users to trade stocks, ETFs, and other financial instruments easily and conveniently. However, if you decide to close your account or withdraw your funds from Trade Republic, there are certain steps you need to follow to ensure a smooth and hassle-free process. In this article, we will guide you through the steps involved in withdrawing your funds from Trade Republic.

Before initiating your withdrawal, it is important to note that Trade Republic only allows withdrawals to bank accounts held in your name. Additionally, there might be some fees associated with withdrawing your funds, depending on the withdrawal method and the amount you want to withdraw. It is advisable to review the fee schedule available on the Trade Republic website beforehand.

To begin the withdrawal process, open the Trade Republic app on your mobile device and log in to your account. Once logged in, follow these steps:

1. Click on the “Profile” icon located at the bottom right corner of the screen. This will take you to your profile page.

2. On the profile page, click on “Settings” located at the top right corner of the screen. This will open the settings menu.

3. In the settings menu, scroll down until you find the “Withdraw money” option. Tap on it to proceed.

4. You will be directed to a new page where you can choose the amount you wish to withdraw. Enter the desired amount in the respective field.

5. Next, you will be asked to select your preferred withdrawal method. Trade Republic typically offers two options: regular bank transfer or express withdrawal via Apple Pay. Choose the method that suits you best.

6. If you select the regular bank transfer option, you will need to enter your bank account details, including the IBAN and BIC/SWIFT code. Make sure to double-check the accuracy of the information provided to avoid any delays or complications.

7. After confirming your withdrawal details, you will see a summary of your transaction. Take a moment to review the information to ensure its accuracy. If everything looks correct, click on the “Confirm withdrawal” button.

8. At this stage, Trade Republic may require additional verification steps to prevent fraud and ensure the security of your financial transactions. These steps may include confirming your identity through video identification or providing some supporting documents. Follow the instructions provided by Trade Republic to complete the verification process.

9. Once your withdrawal request is successfully submitted, Trade Republic will process it within a few business days. The exact processing time may vary depending on your bank and the withdrawal method chosen.

It is worth mentioning that Trade Republic does not process withdrawals on weekends or public holidays, so it is advisable to plan your withdrawal accordingly.

In conclusion, withdrawing funds from Trade Republic is a straightforward process. By following the steps outlined in this article, you can easily initiate a withdrawal and receive your funds in your desired bank account. Remember to review the withdrawal fees, provide accurate bank details, and complete any necessary verification steps to ensure a smooth and hassle-free withdrawal experience.