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 Safekeeping fee back in 2018 for business accounts and in 2019 for personal accounts. 🏦
Important note: As of December 1, 2022, bunq will no longer be charging safekeeping fee at all! More will be announced soon 🎉
What's the Safekeeping 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 Safekeeping 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.
Good to know: Keep in mind that all of your invested funds with Easy Investments aren't counted towards your Safekeeping fee.
Update regarding Safekeeping fee as of 1st of October 2022
We’re happy to announce that, starting October 1st, 2022, bunq will no longer be charging any safekeeping fees on balances up to €1,000,000. Furthermore fees for balances over €1,000,000 are reduced by 50%. Learn more about this here 🙌
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 Safekeeping 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 Safekeeping fee for your balance of €105,700 would be 5 x €0.04 = €0.2/ per day.
Important note: These examples are based on the current safekeeping fee, applicable until the 30th of September 2022.
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 Safekeeping fee
- For any €1,000 between €100,000 and €1,000,000, you're 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 Safekeeping fee for your balance of €1,100,000 would be 36+6 = €42.00/per day
You can find more detailed information about our Safekeeping fee as well as the pricing of other services in our pricing sheet. 🏷
Important note: These examples are based on the current Safekeeping fee, applicable until the 30th of September 2022.
Do you want to explore more bunq knowledge?
Check out the rest of our Together topics here!