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 💸
Who can open a Multi-Currency Savings Account?
All our Easy Money and Easy Green 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:
- Tap on 🟣 + Add
- Tap on 🟢 + Add Sub-Account
- Choose 🔵 Savings Account
- Choose the desired currency
- Personalize it
- Done ✅
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:
- 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.
Good to know
Multi-currency accounts are counted towards the 25 sub-accounts you can create with your Easy Money and Easy Green 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Funds can be withdrawn 2 times per calendar month for each currency.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.
Want to learn more? Explore more bunq knowledge here ✨