• Ideas General

  • Add security for business accounts

Increasing limits to large amounts should postponed for 24 hours. Also large payments must be verified by 2 directors.
The easy of use of the app is too good and prone to fraud etc.

    @DD-Kwadraat-B-V-Maroon-Dragon#56594 Hi 👋🏼 DD2,

    Thanks for sharing your thoughts 💭.

    I agree with you... that the app is indeed pretty easy! :) But I disagree that the ease of use is having a negative impact on the security. Can you give an example?

    Personally it use to annoyed the crab out of me that a bank as ING has a short waiting period when you raise your limits. When needed I want to be able you raise the limit and be able to directly profit from it. But that is just me ;)

    See what other bunqers think of this.

    Have a great day 👌

      @JohnDo#56598 I can understand the request when you're talking about a business. If any of the directors want they can just transfer all the money away in an instant. I've seen requests like "the majority of directors must approve before a large transaction is allowed" too.

      BTW, hadn't Bunq removed the connect options where you could set a budget So even a normal employee who needs access (for bookkeeping purposes) could do this.

        @JeroenE#56624 Hi Jeroen,

        I'm against waiting lists, but I can see the advantages of being able to set limits, also on bunq Personal accounts. The feature of setting a limits was present but got removed because it hardly ever was used.

        Also I think that settings limits or other boundaries should be in line with the legal boundaries. So, if a director has full financial rights (based on chamber of commerce registry), they should be able to execute that right in the app. Just like it goes for Joint Accounts. That sounds difficult to build for Business accounts..

        But anything is possible if a majority of the bunqers want such feature!

          @JohnDo#56644 I disagree wholeharteldy with the "if only a few persons use it it should get removed" in principle anyway. That way you are just building what people are used to use and you are not innovative at all.

          Anyway, in the KvK you can also stipulate that person X can sign upto 10000 euro and.or that for amounts higher tnan 20000 euro you have to get at least 3 signatures and so on.

          All those stipulations are not supported by bunq, so it makes the app (and thus bunq) not an option for companies who want to use this.

          Just curious how this works at bunq itself. Does it mean that any director of bunq could just transfer all the money somewhere else if they decide to get an extended vacation on a tropical island? ;)

            10 days later

            @JohnDo#56598 Here’s the example: someone with a gun knows I’m usinq bunq. He ask me kindly to max all limits and transfer all money to an east-Europeanen bank account or so. I think i’ll do... it is now almost cash money on your phone.

              I also would like to see additional security (for business and private accounts) covering all kind of scenarios. Have individual choices on ease of use vs security. Eg. I am worried if phone, passport etc is stolen. Also the scenario of an aggressive person forcing you to transfer money etc are a worry. It must be possible to (by choice) have stronger measures against misuse. E.g. extra identity checks or delays if the money transfer pattern is different than normal. A hidden blocking mechanism, that can be triggered in a way not visible to the aggressor, that will limit money transfers etc

                Hey good morning I am living in England And I have a company in England can I open a business account?

                  @EBMagenta-Penguin#59669 There can be some panic button like functionality for that. Maybe entering the account with panic mode password (read only mode) which will not allow any transfers.

                    Sounds a bit like the and/and accounts. Especially for business users it’d be nice to support that, the owner can override through Personal Matters.

                      @EBMagenta-Penguin#59669 I think the chance that you will win the lottery jackpot twice in a row is greater then this would ever happen in really real life.

                      And if it does, I even think the bank will reimburse you for any financial loss

                        @Sergey-Indigo-Leopard#59692 I think a panic button is an idea 💡for an almost non existing problem. And such button should always come with some kind of override process to be able to access your money. And I seriously doubt that someone would be bold enough to activate such button at gun point.

                        So in short: delays or panic buttons aren't solving any real problems.

                          I think the original question refers to the four-eyes principle in accounting. No one in a larger company should be able to transfer money on his own, there should always be a second set of eyes. This principle should prevent fraud or stealing money from a company or should prevent any shady expenses.

                          It is very common to have one employee (e.g. from the financial department) to initiate a transfer and have another employee (e.g. the head of the financial department) authorise the transfer. Accountants insist these kind of procedures are in effect in a company.

                          As far as I cal see, this option is not provided by bunq.

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