Yes / 12How 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
When you say 1.31% monthly does this mean 1.31% per annum ÷ 12, paid monthly?
Savings rates through Raisin seem superior.
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.
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.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?
Are you sure you retain instand access to the funds? Most Raising accounts say the funds are only available at maturityWith 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?
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.Are you sure you retain instand access to the funds? Most Raising accounts say the funds are only available at maturity
But only if you don’t take the funds early right ? Locking up cash generally means a higher returnYes, sorry, thats a distinction i forgot to make.
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.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.
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.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.
Bunq have increased their rate to 1.56%.
Part passing on the ECB rate increase.
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.So it appears that money needs to be in this account to get interest
I explained that back at #78The 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.
You did sort ofI explained that back at #78
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