Hello bunq and fellow bunqers. What a nice surprise that there is freedom of choice regarding receiving interest on your money stored at bunq. Really liking the option to select specific investment categories!

One thing I don’t get (and/or really like) is the limit of 10k. It would be great if there would be interest calculated above 10k, as I now need to keep a separate savings account at a different bank.

I would love to have all my eggs in the bunq-basket (speaking about trusting you guys and girls!)

    @Roel-Turquoise-Panda#79288 Hi 👋🏼 Roel,

    Good question...

    It isn't that uncommon to limit the amount over which interest is calculated, especially regarding regular checking accounts.

    There are a variety of reasons I think. bunq carefully calculated which interest can be given based on the amount they can invest (not a large amount), the type of investments (and risks) and the duration of that investment (bigger margin). Also calculating certain risk factors. So, the high 0,27% rate and 10k limit are a result of that complex calculation. The feature has to be profitable.

    If you take a traditional savings account, the amount can be higher but maybe they require that you keep that money on your a account for fix or minimum period. Making it a whole different calculation.

    Why pack users have a much lower limit is still not clear to me tho.

      10K is echter wel heel weinig zolang bunq rente vergoedt per account en niet per IBAN.
      10K per IBAN is prima te verdedigen.

        @JohnDo#79302 Hmm... Usually the limit is 100k (or even 500k). bunq is the first to have a limit this low 😉
        But to be fair, there aren't many banks which give interest on current accounts.

          I‘m compare it to Moneyou Go (0,25% on the account balance up to €1.000.000). I would be more then happy if bunq would offer a slightly limited interest rate (say 0,25% of the balance above 10k up to a certain threshold), the 10k just seems a bit limiting.

            @Michiell#79313 Dat voelt ook raar... Dan moet je spaargeld opeens perse over meerdere rekeningen spreiden als meer dan 10k is (Spaarrekening A, Spaarrekening B) 🤔...

            Logischer zou dan hoger limiet per account zijn.

              I think the 10k limit is there to prevent large sums of money being parked at bunq just for the interest. Where old school banks can profit from the interest on loans, bunq doesn't. Therefore it would cost too much to give unlimited interest, when there is no opposite income.

              Bunq stores most of our money on their account at the ECB, where their account carries interest. As the interest is very low on those accounts (negative 0,4%), it would cost bunq a lot of money to park huge sums there. Unlimited interest would attract just that: large sums of money.

              The cap prevents too much money being attracted, whilst the interest may attract small sums of money, e.g. attract paying customers.

              So that may be a reason why there is a cap on interest. When the interest on bunqs ECB-account increases, or the profit on investments rises, it can be a different scenario. Bunq might make profit on our money and may or may not share that profit with us.

              In the end bunq is a commercial company, which aims on making profit. They have the subscription fees, the interest on their ECB-account and the investments.

                @Samzoiets#79425 I’m a little lost on how this all works. If bunq is making a profit of 0,27% on 10K then why can’t they get that same percentage on 100K or more without it costing them anything? The money will no longer be at ECB but it’s being invested, so no high storage costs.

                Or aren’t they actually making a 0,27% profit, but just paying that interest (partly) out of subscription fees and investments? The latter isn’t sustainable of course.

                  @Michiel#79435 They would only make profit on the interest customers pay on loans. As bunq doesn't provide credit, that is no source of income.

                  They would however, get interest on the money they park at ECB, when the interest would be above zero. The current interest rate at ECB for banks is -0,4% (from the top of my head), so it actually costs bunq to park money at ECB.

                    @Samzoiets#79439 Warum können wir frei wählen in was investiert wird, wenn nur bei der EZB und Staatsanleihen eingelagert wird?

                      Yes, but it would only be logical to receive interest if you pick and enable a investment option in settings. So potentially any funds I have available then would be eligible for investment with in return interest. Now I’m not sure if any funds above the 10k threshold will be invested or not (and if this would be the case it’s logical to receive interest, otherwise bunq could make it more clear that only 10k will be invested and any funds above the limit will just be stored free of interest)

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