• Bunq changing for the worse.

I joined bunq not only because I didn't want my money to be invested in anything, I also joined bunq because I didn't want to support a bank facilitating investments.

With the recent addition 'Freedom of Choice' and 'MassInterest', I now support, with my membership and financial contribution, a platform that gives people the opportunity to invest their money in projects I might not want to support and forces me to receive interest from these projects. That is, I personally can choose not to invest, but if my membership and monthly contribution adds to bunq's popularity and development, and bunq determines the projects they invest in, I indirectly support these projects. This goes against the very reasons I joined bunq in the first place.

It saddens me to see that the bank which I thought wanted to break with traditional banks, is starting to resemble them with these additions. What's even more frustrating is that there are virtually no better alternatives, which kind of forces me to accept the lesser of two evils now.

    I don't agree. You buy a service that gives you and others the freedom to choose. Why do you require a bank that takes freedom away from its other customers? bunq will now attract even more customers, all people that pay for the platform that allows you to not invest in projects that you don't like.

      Since I have been with bunq I can see people with very small problems.

        @Freek#67607 Actually, with the feature he complains about you can NOT choose. And it’s a different thing. Bunq said they wouldn’t invest in things other than mandatory ecb and government bonds. They now do invest, including in other banks (whom may invest in shady practices like oil and weapons), so from that point of view: he is right, they now do contribute money to that cause.

        I don’t care much, but I understand the sentiment if that’s why you chose bunq and were willing to pay €8/month as that was one of the master excuses to warrant the pricing.

          @LH-Black-Wolf#67622 Hmm ok I see that. That other banks one is a bit tricky indeed. Will disable it now ;)

            @LH-Black-Wolf#67622 As always: very well written

              @Freek#67607 It's simple. I joined bunq because they said they wouldn't invest in anything other than mandatory government bonds. They do now (just not necessarily with my money), betraying the very promise on which bunq was founded. They lured me in with this promise; I feel misled!

                @Dani-Magenta-Bear#67586 I would say your monthly contribution supports bunq's "freedom of choice" idea (which I think is great, you can choose where you money should get invested in!), not directly the companies they are investing in when you disabled them for your money. So I personally don't have a problem with it, as long as they let you choose.

                  @Freek#67631 In addition, bunq now makes all the investments enabled by default.

                  Since a lot of people might not be aware of this, it's likely that many bunq users (especially new users) will be investing without realizing what they are investing in.

                  Which means that bunq is now primarily investment based, with a minority of people opting out of the investment. That is very different from before, where bunq was not investment based at all.

                  If they are going to keep the investments, I think they should be off by default. And the interest should only be paid to people who choose to invest.

                    @Pauan#67653 Or after the Premium trial there could be a notification and a "big screen" in the app telling you that it's now "time to choose" :) So nothing is on or off by default.

                      After all bunq is a bank. A bank which gives us a lot of great features and, within certain limits, a lot of freedom of choice you will not get by any other bank. But the truth is, bunq has to grow and to develop business models which keep the platform sustaining and healthy. And this includes doing more with the stored money than parking it at ECB.

                      Also perhaps you should keep in mind: It is not you who is investing. Bunq invests the stored money like any other bank out there to generate revenue. What makes bunq different is, that you can actively decide how the money stored by you is used. If you want to store money without any investment you have to keep cash or buy gold or something...

                        @Sebastian-Pink-Cheetah#67685 It is me who helped bunq grow into the bank it is now. It is me who is financially supporting their platform that now makes it possible for people to invest. Although indirectly, I'm supporting their investments by being a paying bunq user. That they offer me options not to invest my own money is not the point: they simply broke the promise with which they lured me into joining their bank.

                          @Sebastian-Pink-Cheetah#67685 Also, I'm paying a relatively high monthly fee so that bunq can sustain its practice of parking money at ECB, while refraining from investing. This is what justifies the monthly fee. Why then the change of business model?

                            @Dani-Magenta-Bear#67702 I don't think the montly fee covers even the negative interest they have to pay the ECB, let alone the other expenses they have. Not at their current scale at least. We are used to (almost) free bank accounts because most banks have lots of ways to make money with your money. Bunq doesn't have that, but still they have to become self sustainable at some point..

                              @Oscar-Red-Turtle#67714 If the monthly fee wasn't ever going to be sufficient, they should have been clear about that from the start.

                                Changed all my accounts to Bunq. Right now abrogated all of them. Business and personal account. Freedom of choice amehoela! SO to MJA. Going back to ING if values doesn’t matter anymore it doesn’t make sense to stay with Bunq. Totally destroyed trust.

                                  @Aram-Indigo-Unicorn#68114 Maybe you forgot the money laundering scandals at ING, the heavily investing in coal-fired power plants at ING? And I suspect that's the tip of the iceberg, the stuff we see.
                                  I can understand that you're angry at some changes at bunq, but saying they are just the same as ING....