One of the main obstacles savers face when looking for interest-bearing accounts is the requirement to have their paycheck deposited directly. However, in 2026, there are several competitive alternatives that do not impose this condition. We’ll break them down for you using real, up-to-date data.
Why look for an account without a direct deposit?
Many self-employed individuals, freelancers, retirees, or simply people who don’t want to switch their primary bank find themselves excluded from the best banking offers. Accounts without a direct deposit requirement eliminate that barrier: anyone can open one and start earning interest from day one.
The best interest-bearing accounts without a direct deposit in 2026
1. Trade Republic — 2.02% APR
The German platform (with a banking license) offers 2.02% APR on the available balance with no conditions, no fees, and no pay stub required. Funds are available instantly. Guaranteed by the German Deposit Guarantee Fund up to €100,000.
Point to note: the interface is geared toward investing; the interest-bearing account is a secondary product. Recommended if you already invest in or are interested in investing in stocks/ETFs.
2. MyInvestor — 2.10% APR (12 months)
2.10% APR for the first 12 months for new customers, no pay stub required. Rate drops significantly afterward. Guaranteed by the Spanish Deposit Guarantee Fund (FGD) up to €100,000. Full-featured account with a debit card, Bizum, and access to mutual funds.
Ideal for: switching during the first year and then evaluating alternatives.
3. Bankinter Digital — 2.15% APR (6 months)
The highest offer on the market for new customers: 2.15% APR for the first 6 months. No direct deposit required, no maintenance fees. After the promotional period, the rate drops to the standard rate (currently much lower).
Bankinter is a Spanish bank with DGS coverage up to €100,000. A solvent bank with a long track record.
4. Openbank — variable
Santander’s digital bank offers interest on the balance, although the current terms are less competitive than the previous three. Its main advantage is the backing of the Santander Group and its operational strength.
Quick comparison
| Bank | APR | Period | Payroll | FGD |
|---|---|---|---|---|
| Bankinter Digital | 2.15% | 6 months (new customers) | Not required | Spain — €100,000 |
| MyInvestor | 2.10% | 12 months (new customers) | Not required | Spain — €100,000 |
| Trade Republic | 2.02% | Indefinite | Not required | Germany — €100,000 |
| Openbank | Variable | No limit | Not required | Spain — €100,000 |
What happens after the promotional period?
This is the critical point that many savers overlook. Accounts with the best initial APR (Bankinter, MyInvestor) are temporary offers. When the period expires:
- The rate may drop to nearly 0%
- You can switch to another bank (no penalty—the money is always yours)
- Or keep it if the updated rate remains competitive
Trade Republic is the only permanent option with no time limit, although its APR reflects the current market rate (adjusted by the ECB).
How much can you earn? Practical example
With €10,000 in an account at 2.10% APR for 12 months:
- Gross interest: €210
- Income tax withholding (19%): €39.90
- Net interest: €170.10
Compared to €0 in a traditional non-interest-bearing checking account. The difference is real and significant.
Recommended profile for each option
- You want the highest return in the first year: Bankinter Digital (2.15% × 6m) → MyInvestor (2.10% × 12m)
- You want simplicity without expiration dates: Trade Republic
- You want everything in a full-service Spanish bank: MyInvestor or Openbank
- You’re self-employed/freelance: any of them — none require a pay stub
Conclusion
There’s no excuse to let your money sit idle in 2026. With interest-bearing accounts available from day one without a pay stub and guaranteed by the European Deposit Guarantee Scheme (EDGS), earning between 2% and 2.15% APR is simple and risk-free. The optimal strategy: use the promotional offer with the highest APR, and when it expires, evaluate whether there’s a new, better offer or if you should keep the permanent account with the best rate available at that time.