Bunq Paying 2.46% Instant Access & No Fees

jim said:
How does it compare to Raisin, see below?

Compare savings accounts for Irish savers

Compare savings accounts for Irish savers. View high interest rates on savings accounts beyond Ireland and open your free Raisin Bank account.
www.raisin.ie www.raisin.ie

When you say 1.31% monthly does this mean 1.31% per annum ÷ 12, paid monthly?

Savings rates through Raisin seem superior.
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Yes / 12
Raisin offer fixed term accounts, Bunq is instant access
Plus they are an intermediary, I can't speak to how good / bad the banks they offer are, and what service they provide (eg online access), but others here might be able to.
 
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nest egg said:
Yes / 12
Raisin offer fixed term accounts, Bunq is instant access
Plus they are an intermediary, I can't speak to how good / bad the banks they offer are, and what service they provide (eg online access), but others here might be able to.
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With raisin you do have instant access but in order to access your funds you forego whatever interest you stood to make.... So you dont loose access to your funds.

Raisin service has been slow of late possibly due to high volumes of new accounts but otherwise i cant fault the service and facility.

Cannot see how bunq is in anyway an attractice proposition in light of Raisin's offering and the posts earlier in this thread.

What am I missing?
 
jim said:
With raisin you do have instant access but in order to access your funds you forego whatever interest you stood to make.... So you dont loose access to your funds.

Raisin service has been slow of late possibly due to high volumes of new accounts but otherwise i cant fault the service and facility.

Cannot see how bunq is in anyway an attractice proposition in light of Raisin's offering and the posts earlier in this thread.

What am I missing?
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I currently have a large amount of funds saved as I'm about to undertake renovations. It will all be used within 12 monrhs, and a term account is of no use to me, as I will need to make withdrawals as needed.
Was able to open a Bunq account within five minutes and I'm lucky to have had no issues at all with transfers or with receiving interest.
With 100K deposited, will get 100 quid a month or so (subject to DIRT) and at least something in interest so long as I have anything in it.
For me, getting interest monthly is ideal. Your mileage may vary :)
 
100% @nephster . I see the value in getting the interest monthly alright.

The rates at raisin are so much better though.

What iv done through raisin is, iv set up a several deposit accounts maturing at diff times varying from 6 months out to 5 years so that i know ill have a maturing deposit close on the horizon at any time and im getting 2 to 3.5% approx rates. Its hard to beat
 
jim said:
With raisin you do have instant access but in order to access your funds you forego whatever interest you stood to make.... So you dont loose access to your funds.

Raisin service has been slow of late possibly due to high volumes of new accounts but otherwise i cant fault the service and facility.

Cannot see how bunq is in anyway an attractice proposition in light of Raisin's offering and the posts earlier in this thread.

What am I missing?
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Are you sure you retain instand access to the funds? Most Raising accounts say the funds are only available at maturity
 
Connard said:
Are you sure you retain instand access to the funds? Most Raising accounts say the funds are only available at maturity
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Some are listed as 'easy access ', you can get the funds any time but will lose all interest. If they're not listed as easy access, you have to go full term.
 
So deposit acc = locked in for duration, higher return. Raisin rate currently are excellent.

Easy access = can cash it in anytime but if before maturity you lose interest. Until recently raisin rates were very good but iv seen that theure now about 0.2%, so pretty crap.
 
jim said:
So deposit acc = locked in for duration, higher return. Raisin rate currently are excellent.

Easy access = can cash it in anytime but if before maturity you lose interest. Until recently raisin rates were very good but iv seen that theure now about 0.2%, so pretty crap.
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Yeah they had one that was over 2% but it is gone now. So Bunq at 1.31% and Trade Republic at 2% are good options.
 
Connard said:
Yeah they had one that was over 2% but it is gone now. So Bunq at 1.31% and Trade Republic at 2% are good options.
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Hadn't realised the easy access ones had dropped so much. There is a 3 month fixed term for 1.75%. 3 months isn't too long to wait.
 
Hi all

So the app pushed an update (Android) and it a bit clearer now to me.

With easy saver account their main account and savings goals account. When open savings goals account. It now updated to say interest earned section and 2 withdrawal left this month. So it appears that money needs to be in this account to get interest. This changed from last week were this information was missing from this section.

I will update at the end of the month if I get actual interest. But customer service is shocking. And left to just figure this out.
 

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I have money in " my savings account". I have no money in " main account" Will " my savings account "earn interest? I don't see a savings goal account. I am on the Easy Green 30 day free trial. It's just all so confusing.

I transferred 500 from my KBC to Bunq. It was credited to Bunq. I then transferred €1 to a new sub-account which I closed. The €1 was refunded to KBC. I assume this proves the Bunq app I downloaded on Google was the genuine bunq app. Their app just seems so poorly designed. Why didn't they get a native English speaker to do the translation from Dutch to English
 
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irbx said:
So it appears that money needs to be in this account to get interest
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The confusion stems from the fact that the labels & instructions on the Bunq app seem to have been written by a non-proficient English speaker. The app seems to let you choose whether you want to receive interest ON the main account or ON the savings sub-account. But the word "ON" should be "INTO" as it pertains to the account into which you want the interest paid, NOT the account which contains the principal on which you want the interest paid. Only savings sub-accounts qualify for this, anything on the main account receives zero interest. It's bizarre that they would make such a basic linguistic mistake and seem oblivious to all the confusion it's causing. There also seems to be a twice monthly withdrawal limit but like most things with this bank clear information is hard to come by and even their chat agents (or software impersonating them) don't really seem to know. After waiting a day for a reply they usually respond with some more or less randomly pasted paragraph.
 
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tomdublin said:
The confusion stems from the fact that the labels & instructions on the Bunq app seem to have been written by a non-proficient English speaker. The app seems to let you choose whether you want to receive interest ON the main account or ON the savings sub-account. But the word "ON" should be "INTO" as it pertains to the account into which you want the interest paid, NOT the account which contains the principal on which you want the interest paid.
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I explained that back at #78
 
Last month, it was in the afternoon of the 1st, I think that I got a notification that the interest had been applied.
I just looked at the app, andn when I go into the details of the account, it says "earned this month €5,79" but this has not been applied to the account yet.
 
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