• Bunq changing for the worse.

@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 doesnā€™t matter anymore it doesnā€™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....

                            @Dani-Magenta-Bear#67696 I agree too

                              @Petervdv#68121 very wrong. ING is much worse, with a crazy CEO who thinks better than their costumers to not offer Google Pay or Apple Pay, which bunq has now embraced both 'in supported markets'. They really listen to their costumers and the point is the majority of bunq costumers asked for this very thing and they deliver it yesterday. End of discussion.

                                @Petervdv#68121 He didn't say bunq is the same as ING. He's going back to ING, because he thought he had a choise at bunq, which he sadly didn't. Maybe he's going back to ING, because he was very long customer there and the price is just lower. He could have a look at other banks though, but as far as I understand his post, he didn't say ING is same or better than bunq.

                                  Totally agree with the first message but itā€™s event worst. They activated the investing options for all people by default !! So people who use bunq cause they donā€™t want to invest they will think ā€œI donā€™t need to check the new investing option cause I donā€™t want to investā€ but in fact if they donā€™t read the email and go to the option and UNcheck it Bunq will invest their money. Thatā€™s crazy! Bunq changing a very big a basic principle and changing it by default for all old users who did not want to invest.

                                    I totally agree that this way of doing things totally destroyed my trust in Bunq. Is a normal bunq that I need to check with 4 or 6 eyes, like the others.