Yesterday I ordered my securities account transfer from Consorsbank to TradeRepublic.
A few considerations prompted me to do this.
Savings plans are free of charge (may change)
Savings plans can be executed weekly. (At Consorsbank only monthly. But you can trigger one-off payments on certain days of the month. I have not yet found out whether this is possible with TR)
the roundup and the cashback of the debit card are very interesting. Provided you consistently pay by card. But I am a person who prefers to pay small amounts in cash. Not least so that small businesses (bakeries etc.) don't have to pay the fees. I don't care about larger sums). I tried out the card today with 2 really small purchases. Together they brought 43 cents.
TR works with the Finanzguru app, but not properly with Getquin (so far), maybe there's still something going on, it's supposed to have something to do with an API. No plan.
1 Euro per order
3.25% from tomorrow 3% on the cash balance. Three times as much at ConsorsBank.
I am convinced of the concept after a lot of research on the net.
The process was really simple. I was able to apply for the transfer directly online at ConsorsBank. However, only whole items can be transferred, but that should be known.
The full units of ETFs and shares were booked out of the custody account 10 minutes after the order was sent.
The sale of the partial units was free of charge. But it took a little while.
But I also knew that thanks to the WWW.
For the time being, the sum from the parts remains in the clearing account for the advance lump sum.
Now I have to wait until the deposit has been transferred. I'm also curious to see whether the tax documents and the loss pots will be transferred.
I think everyone feels a little queasy when their securities are flying around in orbit somewhere.
I'll keep you posted on how long it took and so on.
I wish you all a Merry Christmas.
Carsten
Created without A.I. but certainly with errors :-)
Update:
16.12.24 Transfer requested
Something is happening 17.12.24 I would not have expected that
WOW the first papers are arriving at TR.
$QBTS (+2,85%) (first test purchase at TR)
Update: 18.12.24
All items have been transferred to TR. And that within two days. I don't think it could be faster.
Now we just have to wait and see if and when the cost prices are updated.
Greetings
Carsten
