Since the beginning of bunq, we’ve actively chosen a different approach to traditional banking by not investing your money in nasty businesses. Instead, you can choose what we invest in with Freedom of Choice or store it as safe and clean as possible at the European Central Bank. Because storing your money safely at the European Central Bank comes with substantial costs, we need to make sure it’s sustainable for both you and us. That's why we've introduced a deposit holding fee back in 2018 for business accounts and in 2019 for personal accounts. 🏦
What is the deposit holding fee?
In order to continue keeping your money safe, as of 1st of March 2021, we’ve introduced the following updated pricing terms for our deposit holding fee:
For balances of over €100,000, we have a fee of 4 cents per day, per €1,000 (rounded down) for any funds above the €100.000 limit.
For balances of over €1,000,000, we charge a fee of 6 cents per day, per €1,000 (rounded down) for any funds above the €1.000.000 limit.
Let us give you a few examples!
Examples for accounts with balance between €100,000 and €1,000,000 💸
If you have €100,000 in your bunq account (total of all sub-accounts): there is NO deposit holding fee, since this is below the minimum amount for it.
If you have €105,700 in your bunq account:
- You'd be charged €0.04 (4 euro cents) per any extra €1,000 that you have above the €100,000. This means that you get charged a fee only for €5,700 which gets rounded to €5,000. The deposit holding fee for your balance of €105,700 would be 5 x €0.04 = €0.2/ per day.
Example for accounts with balance above €1,000,000 💰
- If you have €1,100,000 in your bunq account:
- Your first €100,000 would be with no deposit holding fee
- For any €1,000 between €100,000 and €1,000,000 you are charged €0.04. In this case - 900 x 0.04 = €36.00/per day.
- For any €1,000 above €1,000,000 you're charged €0.06. In this case - 100 x 0.06 = €6/per day.
- This means that the total deposit holding fee for your balance of €1,100,000 would be 36+6 = €42.00/per day
You can find more detailed information about our deposit holding fees as well as the pricing of other services in our pricing sheet. 🏷
Do you want to explore more bunq knowledge?
Check out the rest of our Together topics here!