Bux offering 2.01% on cash balances up to €25k

[Connard]

From an email I received from them:

As of 5 April BUX is offering 2.01% annual interest on your uninvested cash balance.
That's right - you can start earning interest compensation by simply depositing funds into your BUX account. And the best part? No other Dutch neo-broker offers a higher rate
Your deposit with BUX is held at ABN Amro Clearing Bank and is protected up to €100,000 under the conditions of the Dutch Deposit Guarantee Scheme (DGS).
Interest compensation will be paid quarterly on uninvested cash balances up to €25,000.

If you sign up with a referral you receive a free share. They say Apple, GoPro, Dropbox or others as an example but I wouldn't get my hopes up for an Apple share.

 

[Lightning]

Thanks for posting Connard.

I have updated the best buys.

Good to see that 100k is protected. Albeit the rate only applies from 100 EUR to 25,000 EUR.

Media article on the rate change here.

Bux explanation of how it works here.

 

[S class]

From 1st April Bux have introduced a monthly service fee of 2.99 euro.

 

[Lightning]

From 1st April Bux have introduced a monthly service fee of 2.99 euro.

Good spot. Bux do not make that clear but I see it on their website. I will add this to the best buys.

 

[MTB_FS]

I missed that and told the Girlfriend yesterday to add some cash to her account. She holds some shares via Bux but I didn't see that on the marketing email.

 

[Connard]

Yeah I didn't receive any communications from them about the 2.99 fee. No email or app notification. It still applied even if you have 0 cash in your account. Your cash holding just goes negative. I assume that means if you sell shares later, the money from the shares will go against the negative balance. So, Bux is only useful if you are actively trading on it. Just holding shares there is pretty expensive.