bunq Together

bunq Joint questions

Roeshimi

Raul you can still keep your "own old accounts" if you decide to switch to Joint membership but always within its bank account limit (25

That does mean 25 in total right? So as long as I have 15 accounts already and my partner has 9, then we're good?

Raul-Cyan-Lion-3476404034

Roeshimi 🙂

Exactly! The app will tell you how many bank accounts you need to close 👍

Do you already have a joint partner in mind? 😄

Roeshimi

Raul To be honest, I don't see the advantage of Joint, when you can be in a pack with your partner and two others and pay the same price and don't have the limits of Joint.

Jos-Golden-Unicorn

Roeshimi I think it's because of the price. When you have a joint membership with 10 others you only pay 1€ per person (but you are very limited on cards etc.). The only problem I see is with the interest xD Who is getting the money of the private accounts etc.

I do think the joint account would be perfect for a team of API developers that don't use bunq in general. You have API access for 10 people with 1 subscription.

LH-Black-Wolf

Roeshimi This. I would’ve understood better if bunq Joint was like getting half a pack :P So €9,99 for two full accounts. I mean, sure this option ensures you don’t have to deal with other Pack members and such, but that’s the only advantage I can find vs a few disadvantages? I must be missing something crucial why this is more beneficial. Of course, from the point of view of not being in a pack it’s only €2 more to be allowed to share your card - from that angle it is more of an advantage... But still highly inferior to pack.

What’s the major advantage to Joint that I’m not seeing? :) Must be missing something.

JeroenE

Roeshimi I have lots of questions (which I'm hoping the moderators will have to and get answered) but as I see it now it is paying the same for less. And if you have kids they can't even join you in a Pack.

Of course if you are a group of 10 people living in the same building and you want some kind of Joint Subscription to handle things like energy, water of groceries it might be just what you want. Then you might only need a 3 cards to be used. And now you are allowed to share this card while you technically aren't if you have a Premium subscription and connected the 9 others.
But I'm assuming that just like Joint Accounts people can't be added to a Joint Subscription later on or leave the Joint Subscription either without breaking the entire Joint Subscription.

LH-Black-Wolf

iivvoo This does seem a bit confusing in terms of naming, as you now have joint accounts (en/of) and you have joint subscriptions :P

But I don’t follow, you could already create a joint (en/of) account that was owned by both you and your wife? That’s an account under both your control and legally owned by both. Connect was different indeed and only gives access rather than ownership.

iivvoo

LvH Not sure if you're asking or stating that you could create an en/of account. As far as I know, you couldn't until now, sort of. Correct?

Or am I missing something and is there a way to have a premium account fully accessible by both of us, under both our names, next to our individual personal premium accounts?

And right now, I am using a connected account to circumvent this limitation, but it's not the same as an en/of account.

JohnDo

Peter 🧗‍♂️ Sorry, I meant: bunq Joint doesnt support private accounts since ALL accounts made within this membership are automatically all Joint Accounts.

But, if you already did have some own accounts before joining Joint, then you will keep those accounts...

Pain-blue-quokka

John Do Sorry, I think there's been some confusion by our communications about this. What you're saying is still incorrect.

When you move to the bunq Joint Membership:
- You can still open extra Private Bank Accounts (not shared)
- You can also open extra Joint Bank Accounts

You can even still open Joint Bank Accounts with people that are not your 'partner' (with whom you share your membership).

By way of illustrating:
- David and Mia have a Joint Membership together
- David wants to start saving for a birthday gift for Mia: possible (Mia won't see his private savings goal)
- David goes on a trip with Tom and Jack and wants to open a Joint Bank Account with them (without Mia): possible

LH-Black-Wolf

Jos Ohhh you can share bunq Joint with more than one person?

Roeshimi

LvH OK that might be interesting for some, like students living in a flat for some time together and who try to save money on the subscription. However I doubt that makes sense for more than 3 people because of the physical card limit.

Jos-Golden-Unicorn

LvH I have read somewhere max. 10 for 1 bunq joint. On the official Bunq site it says (partner(s)) so more than 1.

LH-Black-Wolf

iivvoo You can open an actual en/of account. Connect is to “share” one of your bankaccounts (IBAN) with others, such as your wife. This doesn’t give her legal ownership. You can also create a joint account, which is en/of. Your wife will be the legal co-owner and the account is in both your names. You create this type through create account -> joint (“gezamenlijke rekening”). Then it is a true 100% en/of account that you both see in your own Bunq (premium) accounts and have full control over.

JeroenE

iivvoo Joint accounts already exist for quite some time at bunq. And you aren't limited to two persons on those either. But of course everybody needs to have their own personal subscription to be able to get invited for a Joint Account. You can be on Free as fas as I know, but the person creating the account can't.

If you want to try id, you can add a new account and the app will ask if you want a Personal Account, Savings Goal or Joint Account.

Roeshimi

Jeroen 🏳️‍🌈 I also hope there will be an FAQ post by bunq to clear things up

JeroenE

Peter 🧗‍♂️ Thanks for your answer, I do hope you guys get around to explaing how it actually works. Because the topic on Together lacks all of this information.

BTW, why does that topic guide you to an external website with more information instead of just putting it on Together? Why are we forced to accept privacy policies fo third parties to read about stuff that bunq introduces?

JohnDo

Peter 🧗‍♂️ Hi Peter, thanks. 🙏

Have to say... pretty complex product... because of different elements of different memberships a glued together..

But I'm beginning to understand

iivvoo

Jeroen 🏳️‍🌈 Thanks for the clarification. I guess I decided on using connect in stead of "joint" because when I initially created the "household" bankaccount my wife didn't have a bunq account yet, and you can't add afterwards, so I chose connect in stead. I think.

And now I understand @LvH 's confusion about joint-subscription/connected-account/joint-account.

And now I see even less purpose for the joint subscription. I'd rather see Bunq fix the notification madness for us multi-subscription-holders :)

LH-Black-Wolf

Jos Yeah then I can see some situations in which this joint subscription can be beneficial. I thought it was limited to 2 people, in which case 2 pack subscriptions would be far superior. But if you share it with 3 people and all get one physical card each: this offers an advantage. (Unfortunately that would mean 3 maestro’s though and no room for a physical mastercard, if only we could finally get rid of Maestro and make everything MasterCard Debit! Sucks the acceptance rate for MasterCard is still crappy. :()

JeroenE

LvH I don't have either Apple Pay nor Google Pay, but does anyone know if it's possible to add the same card to separate wallets? After all, this card belongs to all of the Joint Subscription members so everybody should be able to add it to their own wallet, right?