What happens if there is not enough money in my cash account for my savings plan to be executed?

Savings plan instalments are always debited from your Trade Republic cash account.

If there are insufficient funds in your cash account before execution, we’ll inform you via [Wealth > Orders & Insights > Orders] a few days before the execution of your savings plan transaction.

If there are insufficient funds in your cash account by the execution date, the savings plan payment won’t be executed. The next execution will then take place at the next execution date in accordance with the selected saving interval you chose when you created the plan, provided your balance is sufficient.

To avoid this, we recommend setting up direct debit (If available, the option will be shown in the app) :

1. First, send a bank transfer from your reference account (or another bank account in your name) to your Trade Republic cash account, if you haven’t already done so
2. For existing savings plans, go to Wealth > scroll down to Orders & Insights > tap Savings Plans and find your savings plan, and select Manage to change your payment method to direct debit
3. If you're creating a new savings plan, select direct debit as the payment option