Part of our duties as a German regulated bank is to ensure at regular intervals that our customers' data is still correct.
Consequently, under certain circumstances, going through the re-verification process might be required:
1) Qualified Electronical Signature (QES): The Qualified Electronical Signature serves as an electronical identification certificate. It works as a digital and secure method to prove your identity and accept the contents of the document.
After signing the QES contract, a SEPA transfer (of a minimum of €1) from a bank account in your name to your Trade Republic account is required in order to ultimately activate your account and be able to trade.
Failure to comply with this requirement within 30 days after the account opening will result in the need to go through a re-verification process with our KYC service provider.
2) Expired ID (Crypto): It is important for us to keep your information updated; whenever your ID has expired, you will be automatically asked via our app to complete the verification process again.
3) Verification older than 24 months (Crypto): Whenever it's been more than 24 months since your last verification process, you will have to go through the verification process again in order to trade Crypto at Trade Republic. As soon as this is a requirement, you will receive a notification via the app.