Bunq Paying 2.01%-2.67% Instant Access & No Fees

Same with me last month is was around 1pm when the app push the notice that I got interest.
 
Same so the money has to be in the "savings goal" wallet/value to get interest. Well now we know
 
Yeah I got it as well this month. In an update on the android play store they say they've made it easier to understand where and when interest is earned and applied.
 
irbx said:
Same so the money has to be in the "savings goal" wallet/value to get interest. Well now we know
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I put money into a "my savings" sub-account and I managed to get interest this month.
 
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I finally have interest! Now I had to take all my money out of the account, close the Main account it had set up automatically, then set up a new sub account for savings, now it's fine.
 
hi all, has anyone else had trouble receiving the SMS during initial registration with Bunq? If so how did you fix it? Customer service are no help, keep telling me to just try again!
 
Autorotate said:
hi all, has anyone else had trouble receiving the SMS during initial registration with Bunq? If so how did you fix it? Customer service are no help, keep telling me to just try again!
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Did you check the spam folder in your SMS app?
 
hi Lightning, thanks for your suggestion - I don’t have filtering of SMS messages turned on so unfortunately that’s not it. I’m on the 3 network. Maybe 3 are blocking them?…
 
What due diligence should I do if I'm considering depositing a future house deposit in a bunq savings account? Or is that just too risky? Obviously money I can't afford to lose.

What are the risks I should be aware of?

I appreciate bunq are protected by the Dutch Deposit Guarantee Scheme up to 100k. Does this cover both insolvency and fraud? What if the Dutch DGS don't have the funds to pay out - do the Dutch government step in and pay out?

I'm ignorant about fintech banks and technology in general and so a bit anxious. At the moment my deposit is sitting in an Irish bank earning no interest but I have peace of mind. So I wouldn't use the bunq app (other than the initial setup) as I would be worried if my phone got stolen. I would solely access my bunq account from a computer.

To log into my Irish bank account online there's a three step security; I need my card number, my password, and 3 random digits from my 6 digit passcode. There's even a fourth security step - SMS verification - when transferring money. How do bunq compare to these multi-step security features?

Thanks for reading.
 
Autorotate said:
hi Lightning, thanks for your suggestion - I don’t have filtering of SMS messages turned on so unfortunately that’s not it. I’m on the 3 network. Maybe 3 are blocking them?…
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Have you supplied Bunq with your mobile number in the format +3538........
 
S class said:
Have you supplied Bunq with your mobile number in the format +3538........
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Yes, selected Ireland, so the +353 bit is automatic, and then 87……. It’s definitely the correct number they’re trying to send it to. I’ll ring 3 on Monday and ask if they know of any reason SMS msgs wouldn’t be reaching me. If I find out anything I’ll post it in case it helps others.
 
Update in case the same thing happens anyone else trying to register for the savings account with Bunq. After a week of them not giving me any support except ‘try again’ while verifying my phone, they’ve now admitted its a known bug and they’re working to fix it “Our developers are already aware of the situation and are working on a solution. 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 in the app, so that you can confirm vour phone number without any hassle”.
However they allowed me to proceed with the rest of the verification process: passport, voice and video. I then got the msg to say I’d be ready to go in 5 minutes (yay!), but that was then replaced with another message that says ‘We're running some checks to verify your account. The estimated time is 1 week from 12 March.’
This overall level of service, lack of transparency and borderline incompetence is not filling me with confidence if there was ever a problem with the account….
 
I have just checked the new Bunq T&Cs.

It seems that yesterday's rate increase does not apply to everyone. It seems that Bunq are now giving a different interest rate depending on where one lives. :mad:

I.e. Bunq give you 2.01% if you live in the Netherlands but it seems that everyone else still gets 1.56%.

Surprised they are allowed discriminate based on residency.

I'll fix the best buys.
 
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Hopefully they're just giving their home market early access to the higher rate. Though they were quite emphatic the increase was for them and not us :⁠-⁠(

Increasing MassInterest for Dutch users as of March 22, 2023 - bunq Together

Together is where bunq users share ideas, knowledge and experiences.
together.bunq.com
 
The only possible reason I can think of is that they are trying to lure more Dutch residents as a priority in order to boost the mortgage side of their business.
 
Does this give us an indication of the order of priority if things go wrong, in spite of the alleged existence of a state guarantee?
 
I am experiencing the exact same issue with BUNQ. Started the "5 minute" sign up process on Wednesday of last week. A week after I am still waiting for a verification code or a means to jump to the next step. Customer Support worse than useless - try this, try that (remove/reinstall, reboot, delete, yada yada, all of which were irrelevant and resolved nothing). Finally called them out on it being a known bug with their systems, which they eventually acknowledged. It's now been "passed to developers to investigate with their SMS messaging partner blah blah. Having had a few less than positive experiences while dealing with banks via online platforms (Northern Rock, Ulster Bank, KBC) this is not really inspiring much confidence.
 
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