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.
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.