Multi-Currency Savings Accounts 🗺️

bunq

Hey bunqers 🌈

You now have the chance to get one step closer to becoming a digital nomad. We’re happy to announce you can now save money in two more currencies and earn a massive interest of 3.71% on both USD and GBP. Additionally, Business accounts will also have the chance to get 2.3% on both USD and GBP 💸

Please, be aware that local currency funds can be subject to value fluctuations.

Who can open a Multi-Currency Savings Account?

All our Easy Bank Pro (€9.99/month) and Easy Bank Pro XL (€18.99/month) users residing in 🇳🇱 The Netherlands, 🇩🇪 Germany, 🇪🇸 Spain, 🇮🇹 Italy, 🇫🇷 France, 🇮🇪 Ireland with an active Personal and/or Business account can use this new feature.

How can I open one?

To open a Multi-Currency Savings Account, you can follow the steps mentioned below:

Go to 🏠 Home
Tap on 🟣 + Add
Tap on 🟢 + Add Bank Account
Choose 🔵 Savings Account
Choose the desired currency
Personalize it
Done ✅

Are there any costs for using Multi-Currency Savings?

Aside from the monthly subscription costs for Easy Bank Pro or Easy Bank Pro XL, there are no additional charges for the use of Multi-Currency Savings. If you don't already have US Dollars (USD) or British Pounds (GBP), you have the option to convert your Euros directly within the bunq app. To safeguard you from currency fluctuations, we apply a 0.5% mark up to the most recent rate when markets are open. This guarantees steady rates, providing you with the best possible value when converting your Euros to US Dollars or British Pounds.

How is MassInterest calculated?

You can see how to calculate your MassInterest rates here.

When will I receive my interest payout?

MassInterest will be paid out each week based on your Payday settings.

Is my Multi-Currency Savings Account's balance protected under the Deposit Guarantee Scheme?

The non-Euro Savings accounts aren’t eligible for protection under the Deposit Guarantee Scheme and are subject to value fluctuations. The reason behind this is that the deposits are held by Currencycloud. For more information on how the Dutch Deposit Guarantee works click here .

How does AutoSave work with Multi-Currency Savings Accounts?

You’ll be able to save funds in all the available Savings currencies - USD, GBP, and EUR. If you enable the AutoSave option on your USD sub-accounts, you’ll be able to automatically save in your USD Savings Account. Furthermore, if you want to save in GBP, you should enable the AutoSave option on your GBP sub-accounts. You can also decide to save funds in EUR, which requires the enabling of the toggle on your EUR sub-accounts and you’ll automatically save in your EUR Savings Account.

Here’s how to enable it:

Home
Tap on your Local Currency Savings Account and go to ⚙️Settings
Select AutoSave
Tap and enable AutoSave
Select the sub-account(s) to AutoSave from

Important note: You’ll be able to use the AutoSave option to only 1 Savings account a time per currency.

Further information can be found here.

Important information about Multi-Currency Savings Accounts

Multi-currency accounts are counted towards the 25 sub-accounts you can create with your Easy Bank Pro and Easy Bank Pro XL plans.
Funds can be withdrawn 2 times per calendar month for each currency.
You can only withdraw funds to another account in the same currency.
If you want to withdraw your funds from your Multi-Currency Savings account into Euros, you can do so by using the “Add Money” flow from your Euro sub-account. Keep in mind that this will count towards your withdrawal limit.
Interest can be earned on deposits up to $100,000 / £100,000.
A Multi-currency Savings Account can’t be converted into a Euro Savings Account. Keep an eye on our updates for further future details here.
To see the general principles applying to our services, check our [Terms & Conditions](Ihttps://www.bunq.com/documents/personal-account).