Bunq Paying 2.46% Instant Access & No Fees

Yeah, and even when you click on the free option, they sign you up by default with the paid version but with a 30 day free trial. So you have to switch to the free option inside the app after sign up.
I’m currently signing up and had to choose a paid plan . Having difficulty switching to the savings plan . I got a message saying the switch would be active tomorrow which is a bit odd . Anyone else get this ?
 

Attachments

  • 0CE2177C-C32B-416B-846E-26D76D4C9931.png
    0CE2177C-C32B-416B-846E-26D76D4C9931.png
    119.6 KB · Views: 124
I’m currently signing up and had to choose a paid plan . Having difficulty switching to the savings plan . I got a message saying the switch would be active tomorrow which is a bit odd . Anyone else get this ?
That's exactly how I did it. A bit convoluted but got the interest when I came to the end of December.
 
I
I’m currently signing up and had to choose a paid plan . Having difficulty switching to the savings plan . I got a message saying the switch would be active tomorrow which is a bit odd . Anyone else get this ?
It sounds a confusing process all right. I'm interested in how you indicated that you wanted to move to the Easy Savings plan. When did you get that option - was it before or during the free trial?
 
I

It sounds a confusing process all right. I'm interested in how you indicated that you wanted to move to the Easy Savings plan. When did you get that option - was it before or during the free trial?
I had to sign up to a plan to register and I tried to change plan immediately,all this afternoon . I’ll report back tomorrow
 
I

It sounds a confusing process all right. I'm interested in how you indicated that you wanted to move to the Easy Savings plan. When did you get that option - was it before or during the free trial?
You can schedule to move as soon as your account is set up, and the move should them happen at the end of the free trial period; it's no different to free trials with (say) Amazon Prime where you can immediately terminate a trial but get the benefit of it until it runs out.
Profile > Plan and then you see the options to change.
I signed up just under a month ago, but moved to Easy Savings straight away within the app. Your plan details then state you are on whatever your original plan you were on but that you will move to the other plan on a certain date.
I'm surprised @huskerdu is seeing the move it going to *happen* tomorrow, if they only just requested it. But we'll see what it says tomorrow I guess!
 
I’ve decided to open a savings account with them and this will be the first account I’ve had where dirt isn’t deducted.
is there much to declaring the interest to revenue? I presume as a PAYE worker I can log on to my account and do it yearly?
Do you declare it in January for the previous year?
Apologies if these questions have already been answered.


i opened the account today which put me on a trial of their highest paid tier but I’ve changed it to the savings account which will be live tomorrow (once my photo and video ID are approved)
 
Last edited:
My easy savings plan was active the next day , as they said . I know others are surprised and didn’t happen them but that was my experience. Either that’s the way it works now, or it’s a weekend thing ( complete guess work ). I also tried to set up a joint account immediately which wasn’t smooth , so I probably should have done one thing at a time
 
is there much to declaring the interest to revenue?
No.
I presume as a PAYE worker I can log on to my account and do it yearly?
Yes. Assuming that you don't earn enough interest to be categorised as self-assessed. Something like €3k+ if I recall correctly?
Do you declare it in January for the previous year?
Effectively. After the year end you can log into your Revenue myAccount and update your details (effectively an online Form 12) with the interest "income" and they will rebalance your account.
 
My easy savings plan was active the next day , as they said . I know others are surprised and didn’t happen them but that was my experience. Either that’s the way it works now, or it’s a weekend thing ( complete guess work ). I also tried to set up a joint account immediately which wasn’t smooth , so I probably should have done one thing at a time
Presume the joint account is for one of their paid-for accounts?
 
Presume the joint account is for one of their paid-for accounts?
That’s what may have confused the issue - I tried to set up a joint account, then change to a free savings account without reading up on the T&Cs, as you can’t have a joint free savings account .

All sorted now, savings account set up
 
No.

Yes. Assuming that you don't earn enough interest to be categorised as self-assessed. Something like €3k+ if I recall correctly?

Effectively. After the year end you can log into your Revenue myAccount and update your details (effectively an online Form 12) with the interest "income" and they will rebalance your account.

Anyone with unearned income of over €5,000 is considered to be a 'chargeable person' and is liable to pay the PRSI charge at 4% on all their unearned income. Source.
 
Quick one for people who have had Bunq accounts for a while - I opened the Easy Savings mid-December, and am still on it after the 30 days trial. When do you normally see the interest in your account? I have the option for interest turned on, but have yet to see any in my account.
 
Hi all so for second month in row received no interest and it's turned on. So raised a case and agent came back very quickly in few hours to say the following. I would suggest if effected you should raise a case as well so they have wider impact numbers. It appears it's a known issue and their working on fixing. I open my account in December if it's relevent.

"I hope you're doing great today ✨ It's an absolute pleasure to be assisting you today.

It appears you are experiencing a bug. Our developers are already aware of the situation and are working on a solution for you. Before they can release a fix, they will thoroughly test everything, which takes time. This is done to make sure everything runs smoothly and to give you the best possible bunq experience. Once a fix has been released, you’ll be notified immediately, so that you could receive your interest without any hassle.

As for now, I'd like to ask for your understanding and patience, both of which are greatly appreciated

More information about the most impactful bugs can be found here: https://together.bunq.com/d/46664 "
 
If they have a bug preventing interest being paid - they could send out an email to customers who may be affected.

I've seen no interest, however I had "Settings:Freedom of Choice:Receive Interest" enabled but I had "Receive on" set to my "main" account which I just use to move money into a saving sub-account. Changed that now to indicate the account I want them to pay interest on - I guess that's how it works.

Only reason I can see for these buried "options" is to default new customers into zero interest, someone just using it for day to day spending may never notice they don't get interest.

Easy to open and quick to show transfers but it's a bit like how it was dealing with airline sites in terms of figuring out how to avoid charges and get the product you want.

I decided to try the 2.99/month option, this month they charged 21 euro because I'd inadvertently enabled 25 additional IBANS - I believe because I'd two sub accounts - one provided called "Bills" and during the trial I created another called "Savings".

I've deleted that "Bills" sub account - and now in "Settings:Accounting:Invoices and Billing:Upcoming Invoice" it looks like I'll be charged 2.99 as expected next month so I hope that's fixed.

Not impressed so far, will abandon ship by March at the latest if I don't see the expected charge and expected interest. A "bug" preventing interest payments is worrying.
 
Hi all so for second month in row received no interest and it's turned on. So raised a case and agent came back very quickly in few hours to say the following. I would suggest if effected you should raise a case as well so they have wider impact numbers. It appears it's a known issue and their working on fixing. I open my account in December if it's relevent.

"I hope you're doing great today ✨ It's an absolute pleasure to be assisting you today.

It appears you are experiencing a bug. Our developers are already aware of the situation and are working on a solution for you. Before they can release a fix, they will thoroughly test everything, which takes time. This is done to make sure everything runs smoothly and to give you the best possible bunq experience. Once a fix has been released, you’ll be notified immediately, so that you could receive your interest without any hassle.

As for now, I'd like to ask for your understanding and patience, both of which are greatly appreciated

More information about the most impactful bugs can be found here: https://together.bunq.com/d/46664 "
Okay update their app is pig's ear and customer support is wrong on bug thing as they now come back with this below. Choose the easy savings option after them trying to push the free trial of their subscription services. So thought was on easy savings account NO you have set up sub account in easy savings account for savings. This is the account you get interest on. Limited to two withdrawals a month. O and I have accepted the free 8.99 trial to open it.

Think I had enough and I am going to close the account.

"Thanks for your message.
I noticed you don't have a savings account. Your funds should be in your savings account to receive interest from your savings.

To open a savings account, you can follow these easy steps;
1. Go to Home tab
2. Tap on + Add
3. Click on Add a Sub-Account
4. Select Savings Account
5. Personalize your sub-account
6. Choose Local Currency / Local IBAN (optional)
7. Done

After creating your savings account, please transfer the funds you wish to receive interest on. You will receive interest on your funds every month afterward. "
 
@irbx to open a Savings sub account you need to pay for that option correct? So the Easy Savings (free) option (which I'm on) is really only a deposit account earning no interest.
 
Back
Top