When you open an Investment Account with us, we also open a bank account (Cash Account) in your name at flatexDEGIRO Bank. All of your uninvested money will be held in this separate personal bank account with a personal IBAN.
We do this to make sure that your uninvested money (up to €100.000) is protected by the German Deposit Guarantee Scheme (Entschädigungseinrichtung deutscher Banken).
Your new Cash Account is directly connected to your DEGIRO Investment Account. It is not possible to use this Cash Account for other banking matters, and you will not receive a physical debit card or be able to connect this account to payment services (such as Apple Pay). You can only use it to hold money to finance all the activities on your Investment Account.
There are no costs associated with holding a Cash Accounts or depositing/withdrawing money. All Cash Accounts - at all other bank too - depend on the interest rates set by the European Central Bank. It is therefore possible for your Cash Account to have have a negative interest rate.
From August 1st, 2022, there is no more negative interest rate on Cash Accounts denominated in Euro. Should the interest rate decrease again in the future, you can find all information about the compensation for negative interest here.
In this document you see updated prices and services of your Cash Account. There are no entry-, exit- or other costs associated with Cash Accounts.