@Meester-Kevin#67506 Here is a thought: Bunq already had an obligation to store your money partial in government bonds and received interest in this. Also, storing your money at ECB costs negative interest that bunq has to pay. Ali already explained in the past that these two interest components evened each other out and therefore the balance for storing your money was zero: you only paid for the banking services.

However: that does not take away that interest is payed with and over your money. Also at bunq.

From colleagues who believe in Islam I understood that receiving money for which you did not deliver work is the offending factor, which by the way I respect. According to them it was no problem to use the interest to give it away to the poor, since that way they would not actually benefit from the interest and therefor it would not be in conflict with their view on their religious beliefs. Isn’t that a very pragmatic solution?

Very sad move from Bunq. It is definitely not Bank of the Free anymore.

@Arjan#67540 About your Thought: Perfect! I was indeed aware and that’s what I found so transparent and healthy banking.

About your However: And I’m perfectly willing to pay for this service. I don’t see what’s wrong with that.

No religion from my part, but I could see how that would add to an opt-out solution.
What’s not pragmatic is having us pay more for a banking service to receive some interest for all.

@Arjan#67540 Would be cool if someone could setup something so everyone who do not want to recieve interest can send this as a gift to charity

@Meester-Kevin#67550 You don’t pay for the interest, others outside bunq do. You provide a “service” (lending your capital) and the other party rewards you for that service. I have no problem with that, although I understand that others do.

I think bunq simply has overseen this aspect due to religion and tbh I think they will change this in the future by allowing you to opt out. Meanwhile I wonder if giving away the received interest would not be a pragmatic solution if you (the persons who don’t want to be paid) don’t want to keep it yourself. This is a good act of kindness to the poor, which I believe is important in all religions.

To elaborate: I’m not assuming bunq is goong to ask more for premium. I meant we are already paying more compared to other banks and I am fine with that as I am fully aware that they lack the income from shady banking investments.

@Kay#67560 Or perhaps it is offset against the monthly charge? So that way we never actually get it?

A good example of not understanding your userbase. A lot of people choose Bunq because they pertain not to invest our money (which satisfies the higher monthly price). A lot of ethical and religious customers will leave including me.

TL;DR: offer non interest options or we will unite and leave.

@Kay#67560 We don’t need to set something up: in Europe there are lots and lots of well known charity funds. All it takes are a few taps in your bunq app to send the interest to your favorite charity fund.

According to the new terms, you would only receive interest payments if you’re using Premium. So one way to avoid this is to downgrade to Free. You would lose the use of your cards, but it would at least help those who really don’t want to receive any interest.

Like many others, I choose Bunq assuming (apparently mistakenly) that no interest was given. If this assumption proves false I will probably just go back to a “betaalrekening” for my savings at ING which gives exactly 0% interest. Would be a pity though, I like the ease with which I can manage my accounts and so on. Curious how this will develop!

Dont’t get me wrong... I applaud the idea to give us the choice what to do with out money.

But in my opinion, they should have done it without interest.

Want to do good and invest in Green?
You can do so.

Don’t like bunq might profit from the interest? Keep it in ECB.

Can’t stomach the idea?
Lot’s of banks who do it the old fashion way.

It’s not a dealbreaker for me and I’m not thinking’s about leavings bunq, cause there are sooo much positive things done.

But that doesn’t keep me from voicing my opinion and have an open discussion about it.

✌️

I only see benefits for providing an option not te receive interest. People that don't want interest can remain happy at bunq and people that like interest can receive higher rates 🎊🌈

@Meester-Kevin#67598 It would be nice if bunq could add a “thanks but no interest please” switch.

For myself: I’ve switched off all options besides the government bonds and ecb (mandatory by law) because I like that option best. I don’t understand why all options are toggled in by default, even with the new freedom of choice: please make such options opt-in, not opt-out.

Interest: I don’t care that much since the amount is pretty low. I would have been fine with no interest but I also understand that adding interest draws a new audience. But declining to it is also freedom of choice so I hope bunq will add this to this already great new feature (and all others, I like the 5 free online credit cards!)...

@Meester-Kevin#67506 “I also object to the subjected interest for everyone if that’s true” Your views are a bit too extreme for me

@Sander#67564 Glad to have a moderator on our side! I'm sure a simple toggle for interest would be greatly appreciated by everyone!