What's a Savings Account and how do I create one?

Elise

We're excited to announce Savings Accounts! A totally new way of doing savings.

With a Savings Account, you can:

Transfer funds to the account whenever you wish (explained below)
Withdraw all of these funds at once or partially, max. twice per month from your all your Savings Accounts (no limit on withdrawal amount)
Enable Auto Save for automatic savings.

Important note: Keep in mind that the limit of 2 monthly withdrawals applies to all of your Savings Accounts. You have 2 monthly withdrawals for your Personal Savings Accounts and 2 separate for your Business Savings Accounts in total.
Only internal transfers between your Personal Savings Accounts don’t count towards the monthly limit.
The limit is automatically reset at every 1st of the month (01:00am CET).
You can see more about this in the “Good to Know” section below ⬇️

How can I create a Savings Account?

Check out the easy steps below:

Home
Tap on 🟣 + Add
Tap on 🟢 + Add Sub-Account
Choose 🔵 Savings Account
Personalize it
Done
Savings Account created!

How do I transfer money to my Savings Account?

You can send a payment to your savings account whenever you wish. To see how to manually send funds, check out the steps below:

Go to Home tab
Tap on your Savings Account
Tap on Add money
Select your payment method and amount
Done 👍

How do I set a Saving Goal?

If you want to set a Saving Goal for your Savings Account and track your progress, follow these easy steps:

Click on Savings Account
Select Savings Account Settings (⚙️)
Select Saving Goal
Select amount
Done!

Once you've reached your goal: You will receive a new event in the Events section. Every time you reach your Saving Goal we'll send you an email to congratulate you on job well done 🙌

How can I turn a Savings Account into a sub-account?

If you experience any difficulties withdrawing your funds or you want faster access to your savings - you can convert one of your Savings Accounts into a regular sub-account! It's easy - once per calendar month you have the possibility to turn a Savings Accounts into a sub-account and manage it as explained here.

How? Simply follow these steps:

Go to Home
Select the Savings Account you want to convert
Click on Setting (⚙️)
Select ‘Convert to Bank Account’
Confirm

Keep in mind that this conversion is possible only for regular Savings Accounts, meaning that you can't turn your Joint Savings Account into a regular Joint Account or sub-account.

How do I create a Savings Account in bunq Web?

In order to create a Savings Account just follow these easy steps:

Go to https://web.bunq.com
Click on + Add sub-account
Select Save for a specific goal

Good to know

You receive interest on your Savings Account only.
You’ll be able to withdraw funds twice per month from all your Savings Accounts (no limit on withdrawal amount).
Internal transfers between your Personal Savings Accounts don't count towards the monthly limit.
Keep in mind that automated payments which you've set up from your Savings Accounts do count towards the limit.
Withdrawals from any Joint Savings Account count towards your monthly withdrawal limit
Your withdrawal limit is automatically reset at every 1st of the month (01:00am CET)
Want to do a partial withdrawal from your Savings Account? Simply follow the steps explained here
The Savings Account isn't a regular bank account for payment (including iDEAL, SOFORT and Bancontact payments). In such case you can create a sub-account and use its monetary benefits