• Ideas
  • Using Ideal for more than €10.000

Situation / Description

At the moment Bunq ideal requests cannot be higher then €10.000.

There is a very good reason for that: ideal payments are NOT instant, in reality Bunq "fronts" the payment for you while waiting for the actual amount themselves. So it just seems instant.

Fronting more then €10.000 can get a little risky for Bunq.

Idea / Feature Request

But I would suggest that for amounts higher then that, we get the option of waiting for the actual ideal transfer to happen and not have Bunq front the payment for us. Best of both worlds: I know it has been paid (Ideal confirmed that the customer did his thing, but the funds have not been received yet by Bunq) and the customer has an easy payment method (Easier than typing it all in their archaic, old, banking system with IBAN numbers etc.)

Why?

I'm a contractor/zzp and I do actually send such requests monthly.

Possible other solutions

## Sending multiple ideal requests.

Well yeah, sure, but that is not very customer friendly; plus, now Bunq still runs the risk which we want to avoid.

## Make the other party use Bunq as well

Hehe, agreed, that would be awesome, but certain larger Enterprises wont be so easily swayed to move their financials to a different bank ;-)

## Waiting for an Ideal payment is the same as waiting for a traditional IBAN transfer

Yes, but the easier I can make the payment process itself, the faster people tend to do it instead of waiting for the last moment or forgetting it completely. Especially for customers without dedicated finance departments. Plus, we are Bunqers, we don't do anything as old fashioned as that. IBAN transfer is sooooo 2017.

    I could be wrong but my understanding is that iDeal has the 10.000 limit so bunq has no control over the upper limit of these payments

      Nope, ideal has no limits :)

        Brilliant idea! Maybe only for the business accounts?

          Well you see banks can handle basically any amount via ideal. They are banks after all. It's more about trust then anything else in this case.

            Oh please no. It is my understanding that the premium account is fine for zzp and smaller contractors. Businesses with 1 transfer like this per month. Company's pay so they can have hundreds of transactions per day. In which case it's too much for bunq and they need the company to pay for the fees themselves.


            Besides, enabling such amounts could be a simple setting. Just like they have implemented it for tap&pay for instance.

              Last time i read the limit is €50.000 for iDeal, but i don't know if it is a limit from Rabobank or iDeal?

                Mark is right. The limit for Ideal payments is set by the bank. So, that why you see different limits across banks. Mostly 10k, 25k or 50k. A bank determined this limit by doing a risk assessment. So depending on the risk the bank is willing to take, the limit is set. To be honest, bunq's limit is on the low site in comparison to other banks.

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