Why can't I withdraw more than 2 times p/m from a savings account?

New-Turquoise-Capybara-2610972588

Suddenly I cant make more than 2 payments a month from my PRIMARY SAVINGS account? My Amex payment is pending and all my debit purchases today pulled from my sub account!! DId Dutch banking laws or Bunq rules change as of Feb 1? I cannot even more money from my Savings account to my sub-account - Bunq has effectively frozen me out of my own money!! Am I alone? Did I miss something? Is there a setting I can change? OTHERWISE I have to change banks tonight!

thijsoost

Tim Hi! Yes, you can only withdraw money from saving accounts twice a month. This was announced via email by bunq in December and January, and also here on Together. It came into effect on February 1st.

There's one way to circumvent this: open the settings of the savings account via bunq web (or in the iOS app, not available on Android at the moment) and tap "Convert to bank account". It'll convert the saving account to a normal sub-account, so then you'll be able to withdraw money again:

New-Ivory-Walrus-1961439925

Tim
I have the same thing! I am stressed out and bunq dont answer my message

Is is

Rimer-Thunder-Dong

Thijs Thijs, can you point to actual emails in which “This was announced via email by bunq in December and January”? As I cannot find anything about it in my mail, but might have missed something. And like everybody was taken badly by suprise by this in februari.

Marcellus-Violet-Dragon

Thijs I have a savings account with a co-owner. I don't see this option in my settings on ios. On web I don't see any settings at all except close account. Any ideas? I've been shuffling around, didn't think about the max withdraws at all and put all my money in a savings account that I can't access anymore lol
I'm kinda stuck now that I can't access my money.

Ewoud-Green-Leopard

Thijs good reason to move to another bank.

New-Maroon-Chamois-172845400

Thijs i cant see the convert to bank account option via web. what if I close the sub account ?? will all money will disappear ?

thijsoost

Stefanie What do you need help with?

By the way, a response from bunq support takes a few hours up to a few days

Kamile-Green-Cheetah

But then what to do for people that use Android version? If the account changing option available only for iOS?

pbruins84

Kamile It's also available on the web app. (web.bunq.com)

New-Grey-Bull-3462242094

Kamile Labas, galima naudoti tiek android tiek IOS 🙂

New-Lilac-Opossum-370777918

I was also worried about locking up my money into savings accounts. But this way of converting the account is just very good to know!

The bunq app should really tell people in the UI about this option - maybe when they try to withdraw money and it says sth like „no withdrawals left for the month“.

This limit really turned me off using the savings accounts in the first place. But now, it is alright.

Jakob-Y

Rimer For me: An email from early January had a link to https://together.bunq.com/d/55589 which includes this info. Then another email in late January with a link to https://together.bunq.com/d/8482 which also includes this info. And finally an email from early February about raising the interest to 1.56% includes in inside the email text.

Note that I might've gotten different emails or at different times than Thijs, as there is probably A/B testing and other reasons for variation. First time I saw the information at all was in late December when reading the new Together post: https://together.bunq.com/d/55589 Maybe that was what he remembered.

thijsoost

Rimer I indeed reveived the same emails as Jakob, + an additional email because I had a card connected to a savings account.

thijsoost

Marcel The feature is indeed not available for Joint savings accounts at the moment.

You'll have to wait until 1 March for your new two monthly withdrawals.

Marcellus-Violet-Dragon

Thijs Aw sh.. That's what I thought when I didn't see the settings. Thanks anyway.

Roeland2002

Thijs An issue the support team of BUNQ is aware of.
One of the support agents stated that they've noted it internally for discussion.

Lets keep our eyes out for march 14'th (The next update).

Henricus-Violet-Zebra

Well, I did experience the same yesterday.
I really don't like this. And I don't want to convert it into a normal sub account.
Everything I like to use Bunq, being my own boss over my account, is dissapearing.

Now with this, I am looking at another bans as N26 for instance.
When I pay so much money every month as I do with Bunq, i must be in control.

thijsoost

Roel It's already possible to convert a savings account to a normal sub-account, so you can access the money

New-White-Snake-4134240623

I’ve moved to Bunq because it looked so nice to have multiple subaccounts to organize my cash. But here I ran into another limitation from Bunq. I pay a decent amount of money for this subscription so I expect a properly working product. I don’t want workarounds and certainly not that much frustrations as in the last months.

So Bunq please act as a proper modern bank and come up with features that let us be free instead of limited.

thijsoost

Nils You can still have multiple sub-accounts to organise your money, that didn't change. The only limitation is that you can withdraw twice a month from your savings.

In my opinion: if you're withdrawing more than twice a month from a savings account, something isn't right. For me, savings is something I don't touch because I'm saving money for something. If it's money I need to buy things regularly, I don't put it in a savings account.