• Permanent locks on savings accounts

Hi bunqers 🌈,

Do you guys think it is a great initiative to put permanent “locks” on certain Savings Accounts, so you can not access them until a date set yourself? This promotes savings for people who find it difficult to hold their own money.

I understand that bunq does not want them to have control over your money, so that's why I also have a suitable solution: if you really need your savings for personal reasons, you can send an ‘emergency message’ to bunq where bunq unlocks your Savings Account for a certain time. This way you can withdraw the necessary amount of money from your account and then it will be locked again, so you can’t touch it. This can be very useful and attractive for people who are affiliated with third-party banks.

Let me hear your opinion! ✨

    @vincent#57140 Good question. I think the idea is good but the insensitive of locking the account to stop yourself spending is lost when there is an emergency unlock option.

    I do love the idea of not touching savings so maybe an alternative could be:

    For every 3 months of no withdrawals out of a savings account (balance must be above a certain amount... like 1k) Bunq will give a mystery gift/reward.
    Example:
    - an additional free card added to the 3 card limit.
    - a discounted subscription of 15% for the next 3 months)
    - a free account above the 25 limit.
    (Small rewards like these, hopefully inexpensive to Bunq but very useful to us users none the less)

    Also, As a bonus incentive to keep growing savings. If you have also deposited a minimum amount (for example €200) to the same savings account during the same 3 months you will rewarded with a mystery gift for a friend of your choice. (same kinds of small rewards as above)

    Personally I’m a few days in on Bunq and I’ve never had such a feeling of transparency about my finances. Loving the auto Save option and eager to hear and use ideas to help save.

    Keep up the great work.

      @vincent#57140 Blocking and emergency unlocking just means extra work for bunq. So I doubt they would do that.

      You could set a low limit on your savings account. Of course that can be changed but at least you need to make extra steps.

      Also you can open a bunch of accounts and put your savings account last so you won't see it as soon as you open your accounts view 😎

        @JeroenE#57218 As a user you know that - when you save money - you simply have the amount in an alternative account that you can easily access without restrictions. I know it's up to the user to manage his or her own money, but sometimes an extra right hand is not so bad. The lock ensures that you can not just open the account and transfer the money back to your regular account. 🙂

          @colin-morrison-com-Cyan-Quokka#57158 Well thought out! Thanks for responding. The mystery gifts are a good alternative to the current royalties that are being raffled among new and existing users. 👏

            @vincent#57286 Sure, but with the support of bunq being there almost always how does that help? They can't legally say no so it's not a real hurdle, I'd say. You ask, they unlock and you can spend. It might take a few minutes more, but that's about it. Well, maybe a few hours if you decide you need this at 3am.

              A little counter like ‘no withdrawal from savings since 942 days’ could also be encouraging to keep saving.

                @Pink-Rhino-Element#57430 That’s a good one too! 🤟

                  @JeroenE#57338 I understand your point, but theoretically bunq can choose to require some sort of specific conditions, including the processing of legal rights with which the user will have to agree, if you want this lock on your savings account. It is indeed more work for bunq to do but in my view this is not a useless time spent, given the fact you pay € 7.99 per month, or more. I am convinced that bunq will benefit from it.

                    @vincent#57477 The price is already 8 euro without this extra work and it seems not right that you expect them to do more work for free.
                    Perhaps they could make such a special account where you'd have to pay 50 euro each time to get it unlocked.

                      @JeroenE#57623 Good morning Jeroen. I don't think it's necessarily extra work to be working on new ideals. That's why the team is here. They're constantly working on new ideals. And should an ideal like this ever be implemented, then there won't be much more work once implementation has taken place. And one more thing. Ideals!!! These are ideals and suggestions...not expectations. At least as far as I can see. Have a great day.

                        I think it's a bad idea to freeze money and I also wouldn't like it if anyone spends resources coding extra features into the app to compensate for your lack of discipline. Just try to grow some self control, maybe together with a life coach or something. Or give the money to your parents or a friend to keep it from you in your moments of weakness.

                          @Robert-Silver-Turtle-4265395482#57629 The idea is that you have to contact support so they can unlock it. By definition that means more work for support. More work means more people means more money means higher price.

                            Love the idea. Everything that helpes you and requires no effort in achieving your goal(s) is a yes for me. Willpower is overrated and limited.

                              @Freek#57639 Sorry you feel that way Freek. And while I think what you say has some credence to it, it doesn’t belong here at all. Have. Nice day.

                                @JeroenE#57640 It’s just one ideal. There are many ideas and suggestions for the savings feature, here in this thread and other threads. And were I a bunq developer, that would tell me a lot about my customers...maybe, just maybe this a feature that we really need to look into.

                                  @Freek#57639 I do not speak from my own experience with saving but it occurred to me as a possible good idea. There are plenty of young people around me who have trouble saving, despite the fact that they can give their money to their parents or other aid agencies. The point is that you learn to save money yourself and then a function like this could be very helpful. Then you actually do it yourself. 😉

                                    @JeroenE#57640 I do not understand why you think this should cost more money and work. bunq can easily integrate this function in the app and because of the current developments within artificial intelligence, much more is possible. In fact, users do not have to assume that their savings account will be unlocked directly when they ask for it. They agree, as described in the conditions, that their money will be locked and that it can take several hours before an emergency release can be activated. Problem solved. 👍

                                      @vincent#57814 I think it is more work because you said that someone should contact bunq support and that they would have to unlock the account. If you want people to do more tasks than they do now they are getting more work. Why do you think it's not more work for bunq support if you give them more tasks?

                                        @vincent#57814 In this case a timer will do the same. If you release the money like you can do right now there could be a timer saying it will release the money in 24 hours. The timer shouldn’t be available when you met your goal.