Bunq Paying 2.46% Instant Access & No Fees

PIC16f84 said:
Too late and too little, they lost me as a customer the moment they decided to put Irish customers on tier 2.
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What you mean tier 2? This seems a good option now after lightyear/trade republic 70k maxed out

Not sure if advanzia is worth the hassle, is this simple to setup?
 
Updated on the app now for me. Nice one. I was gonna take my money out in the new year but will stay put now.
 
irishfinanceguy said:
What you mean tier 2? This seems a good option now after lightyear/trade republic 70k maxed out

Not sure if advanzia is worth the hassle, is this simple to setup?
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Bunq was straightforward to setup, apart from selecting the type of account you want which was a bit fiddly.

For me SEPA transfers to and from Bunq are reliable and fast - not something that can be said for some broker based higher interest rate offerings. This really is instant access savings (well apart from two withdrawal from savings a month limit).
 
So if I set up three accounts as follows am I covered 100% by the guarantee ?
Individual one 95k
Individual two 95k
Joint account for same two individuals 190k
 
Roro999 said:
So if I set up three accounts as follows am I covered 100% by the guarantee ?
Individual one 95k
Individual two 95k
Joint account for same two individuals 190k
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No. It's 100k per person per bank. In your example you'd have each person holding 190k.
 
For me, it's hinging on what response I receive from Advanzia now that my 6 months is nearly up. I've said to them keep my rate or tell me the date in which it reduces so I can withdraw the funds.
 
Yeah this is good news, bunq is very reliable and easy to use. I'll be putting money back with them now with the new rate
 
podgerodge said:
For me, it's hinging on what response I receive from Advanzia now that my 6 months is nearly up. I've said to them keep my rate or tell me the date in which it reduces so I can withdraw the funds.
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Was it a pain to setup with Advanzia? Hard to find a good option for instant access once you go over the 70k with tr and lightyear
 
irishfinanceguy said:
Was it a pain to setup with Advanzia? Hard to find a good option for instant access once you go over the 70k with tr and lightyear
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I found it straightforward but others have had some teething issues.

Found Bunq easier if you're happy with their new improved rate of 2.46%
 
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irishfinanceguy said:
What you mean tier 2? This seems a good option now after lightyear/trade republic 70k maxed out

Not sure if advanzia is worth the hassle, is this simple to setup?
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I mean they initially offered only this rate to Dutch customers and only now when they have lost a big chunk of Irish customer they are applying it across the board.
 
Lightning said:
Yeah, the articles read like marketing pieces rather than journalism. The articles failed to mention that there are way better paying options out there both in terms of deposit rates and money market funds.
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Specifically where are higher on demand deposit rates available ?
 
Roro999 said:
Do you mean undeserved because they didn't offer a higher rate that is available to Dutch depositors? Isn't it putting it up now to Irish banks now ?
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I suspect that it was outflows from BUNQ caused by the preferential rates now being offered by Irish Banks and others for Term Deposits that has forced BUNQ to increase their deposit rate, not the other way around. So rather than shining white knights you could also look at them as opportunistic laggards. Still, better late then never, and if these poorly conceived articles increase awareness of the alternatives and ultimately force the Irish Banks and State Savings to increase their Demand Deposit rates all the better.
 
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Roro999 said:
Specifically where are higher on demand deposit rates available ?
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It’s no longer just about demand deposit rates. There is a huge amount of money sitting in Irish demand deposit accounts, mainly because there was been no incentive until recently to commit to term deposits. Why lock in for 3 or more years when you were getting something like .1% etc. All this has changed in the last 12 months and with rates of up to 4.5% now available for Term Deposits as short as 1 year, a lot of people must be looking at demand deposit balances that haven’t moved in the last few years and considering putting some or most away for a few years to get the benefit. I’ve certainly reduced my demand deposit accounts to the bare minimum.
 
I
Freelance said:
It’s no longer just about demand deposit rates. There is a huge amount of money sitting in Irish demand deposit accounts, mainly because there was been no incentive until recently to commit to term deposits. Why lock in for 3 or more years when you were getting something like .1% etc. All this has changed in the last 12 months and with rates of up to 4.5% now available for Term Deposits as short as 1 year, a lot of people must be looking at demand deposit balances that haven’t moved in the last few years and considering putting some or most away for a few years to get the benefit. I’ve certainly reduced my demand deposit accounts to the bare minimum.
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I've increased my demand deposit monies to the max .75% An Post simply because I could need the funds at any time and I'm sure there are many in the same boat. So I am contemplating transfer to Bunq demand deposit with increased rate for 95k each for myself and other half.
 
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