Bunq decreases "old money" rate (2.16%) & Increases "new money" rate (3.36%)

I appreciated the email as even though I keep track of my savings I couldn't be sure what the max balance had been.

Overall, this feels a bit like a deposit product designed by committee, and not a good committee either.

It's just too complicated for no real benefit in terms of return on your money. At the end of the day there's better rates with simpler terms available elsewhere.
 
skrooge said:
I appreciated the email as even though I keep track of my savings I couldn't be sure what the max balance had been.

Overall, this feels a bit like a deposit product designed by committee, and not a good committee either.

It's just too complicated for no real benefit in terms of return on your money. At the end of the day there's better rates with simpler terms available elsewhere.
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A rational person would move their money elsewhere.
 
Itchy said:
Pushing private information into the public domain, unnecessarily. Increases the risk of Spear Phishing and vulnerability to Social Engineering attacks or email spoofing, particularly because its quite specific, personal information that you would expect only your bank to know.
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This hits the nail on the head. The issue isn't privacy as they are only telling you what you already know (your prior bank balance). Rather it is a security issue, putting sensitive financial information in a plain text unsecured (and unrequested) e-mail which is then subject to all the well known vulnerabilities and exploits that email lends itself to.

I've responded to their marketing e-mail with a complaint advising them that including details of my account balance in an unsecured plain text e-mail is creating a vulnerability, that this was done without my permission, that they will be held liable for any consequences and that under no circumstances are they to do this again.
 
I registered yesterday, but their security software has given me such an annoying runaround today that I've already closed my account - for good!
I expect my online bank to work for me, not the other way round! :mad:
 
Shitty move by them for existing customers. I Kovex the bulk of the funds I had with them to N26 earlier this year so the account will be getting worse for me with the little I have left there so will move it elsewhere.

I’ll leave the account open as an option in the future but it certainly leaves a bad taste in the mouth.
 
Fortune said:
You can deposit money now and get the higher rate on the additional amount, but not on what you had there already. They reset every June and December. Seems the way to go is to empty the account until 1 July 2025.

That's what I'm doing. I've already put the transfer to N26 through. Had to temporarily increase my daily transfer limit. Got a warning to beware of scammers and to hang up the phone if I was on the phone to someone claiming to be from bunq. I got a bit paranoid when I didn't immediately see the funds in N26 like the €1 I'd sent to make sure it was working earlier. Bunq have a delay on the transfer till Monday to give me a chance to cancel it, since it's a large amount to a new payee.

The security looks good, but not the interest rate.
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Their Jan-June 2025 balance sheet gonna look bad isn’t it with people reducing their balance to top up from July onwards
 
Does anyone know if non-residents are due Box 3 dutch savings tax if they investment more than 57k ? - tempting for old customers to add more funds but what if you go over 57k in savings assets in the Netherlands
 
Freelance said:
This hits the nail on the head. The issue isn't privacy as they are only telling you what you already know (your prior bank balance). Rather it is a security issue, putting sensitive financial information in a plain text unsecured (and unrequested) e-mail which is then subject to all the well known vulnerabilities and exploits that email lends itself to.

I've responded to their marketing e-mail with a complaint advising them that including details of my account balance in an unsecured plain text e-mail is creating a vulnerability, that this was done without my permission, that they will be held liable for any consequences and that under no circumstances are they to do this again.
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Per my post I submitted a formal complaint to BUNQ re their marketing e-mail containing prior account balance and requested a formal response. Their initial reply said that they would investigate and respond but that it could take six weeks. Lo and behold, the response arrived after six weeks and one day. They accepted my point and undertook not to repeat this. The following is their response in full:

I am contacting you concerning your formal complaint we have received on the 26th of July, 2024. To make sure I fully understand the situation, I have made myself familiar with your case.

I understand your concern regarding the display of your account balance in an email sent by us, which has understandably caused you some distress. Our intention in including the highest account balance in that communication was to offer a clearer explanation of the recent interest rate changes. We believed that by providing this information, we could help our users better understand the context and rationale behind these changes. However, your feedback, along with that of other users, has made us aware that including such sensitive information in our emails can lead to unintended discomfort.

In light of this, we have carefully considered your input and have decided to take immediate action to address this issue. Moving forward, we will refrain from including sensitive information, such as account balances, in our email communications. Our goal is always to provide clear and helpful information without compromising the privacy or peace of mind of our users, and we apologize for any inconvenience or concern this may have caused you.

Once again, I want to thank you for bringing this to our attention. Your feedback is crucial in helping us improve our services and ensure that we maintain the highest standards of communication with our users.

If you have any further questions or concerns, please do not hesitate to reach out. I trust that I have addressed your concerns adequately, but I am here to assist you further if needed.

Kind regards,
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