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Expat Money

Openbank Welcome Savings vs Trade Republic Cash Interest

Two savings accounts for expats in the Netherlands, figure by figure.

Openbank Welcome Savings is the stronger pick for most expats.

  • Interest rate: 3.10% as a promotion for 6 months, then 2.25% vs 3.00% as a promotion, then 2.00%
Openbank Welcome Savings and Trade Republic Cash Interest compared. The better value in each row is marked.
Figure
Openbank Welcome SavingsOur pick
Trade Republic Cash Interest
Interest rate3.10% as a promotion for 6 months, then 2.25% (better)3.00% as a promotion, then 2.00%
Minimum depositNoneNone
Access to your moneyInstantInstant
Maximum deposit€1,000,000No limit (better)
Deposit guaranteeUp to €100,000 (ES scheme)Up to €100,000 (EU scheme)
Rate checkVerified 29 October 2026Verified 29 October 2026

Bold marks the better value in a row. Figures are checked daily against provider sources; each product page shows when its figures were last confirmed.

Openbank Welcome Savings

What we like

  • 3.00% welcome rate for 3 months
  • No minimum deposit
  • Up to €1 million covered
  • EU deposit guarantee (Spain)

What to consider

  • Rate drops to 1.90% after promo
  • Spanish bank (Santander subsidiary)
  • Customer service can be slow
  • App not as polished as Dutch banks

Trade Republic Cash Interest

What we like

  • 2.00% interest (matches ECB rate)
  • No account fees
  • Dutch IBAN available
  • Monthly interest payments

What to consider

  • Primarily an investment platform
  • German bank (not Dutch)
  • Rate follows ECB (will drop when ECB cuts)
  • Less established than traditional banks

Questions

Is Openbank Welcome Savings or Trade Republic Cash Interest better for expats in the Netherlands?
Openbank Welcome Savings comes out ahead for most expats. Interest rate: 3.10% as a promotion for 6 months, then 2.25% vs 3.00% as a promotion, then 2.00%
Which has the higher interest rate, Openbank Welcome Savings or Trade Republic Cash Interest?
Openbank Welcome Savings pays more — 3.10% as a promotion for 6 months, then 2.25% versus 3.00% as a promotion, then 2.00%.
Are Openbank Welcome Savings and Trade Republic Cash Interest covered by a deposit guarantee?
Openbank Welcome Savings: Up to €100,000 per person per bank, under the Spanish deposit guarantee fund (FGD). Trade Republic Cash Interest: Up to €100,000 per person per bank, under the deposit guarantee scheme of the partner bank holding your cash. Cash sits in trust accounts at partner banks in Germany, France, Ireland, Sweden and elsewhere, each covered by its own country's scheme.