MassInterest: Donate your interest to a charity

JohnDo

Hmm that is a very interesting though! I would use such option! High Five 👐🏼 on that

Alessandro

That’d be nice. With the interest being as low as it is, there’s not much you can personally do with the money, but combine the money and you can definitely make the world a better place.

johannes

Timo N. 🇩🇪🇬🇧 I would do it a bit differently: Give the user the chance to automatically transfer the interest to an IBAN of choice. Don't let bunq decide what charity means, let the user choose the charity company by simply using the IBAN of the charity he wants to transfer the interest to.

TimoNowitzki

Johannes 🇦🇺 This would of couse also be a great idea, this would make this feature even more powerful :) But maybe having a combination of both? So you can select from a selection of charitys but also use your own IBAN if you want.

MB-Obari

Johannes 🇦🇺 If they specify who the charity is then it shouldn’t be a big deal

LH-Black-Wolf

Timo N. 🇩🇪🇬🇧 Bunq seems to hate options and settings, so I imagine it’s going to be one thing or another - but not both :P
Choosing which IBAN it goes to makes sense. Then you can either keep it yourself, donate it automatically to charity or for example pay the interests out to a (grand)child for example. (Of course a bit of a problem if you have more than one haha)

johannes

Bade Still, why not both? Let me use an own IBAN, and charities

MB-Obari

Johannes 🇦🇺 You could just donate your interests directly when you get them.

johannes

Bade But not automatically as I don't know how much it will be...

Younes-Navy-Quokka

Is er ook keuzevrijheid als het gaat om MassInterest? Kun je er ook voor kiezen dat je geen MassInterest ontvangt op je betaalrekening en misschien alleen op specifieke spaarrekeningen.

Het lijkt er op alsof je nu geen zeggenschap meer hebt over je betaalrekening. Je geld wordt belegt en je ontvangt rente. Bij andere banken kun je kiezen om je geld te sparen en rente daarvoor te ontvangen.

In een oudere post van paar jaar terug was de stelling dat Bunq sowieso niet aan het geld van klanten/gebruikers zal komen.

Samzoiets

Upvote for this compromise between those who want interest and those who don't want it.

It's only a matter of time before the ECB gives interest on reserves kept there (which bunq is obged to do by law) and all banks will give interest. It's not only investments that generate interest.

This is a good way of spending interest when you don't want it. It either goes to you, bunq (profit) or a charity!

JeroenE

Sam 🇳🇱🇬🇧 Even when the ECB paid interest there weren't that many Dutch banks that did this on a checking account. You would need to have a savings account to get interest.

Robert-Silver-Turtle-4265395482

I’m for whatever creates the least paperwork for me

Samzoiets

Jeroen 🏳️‍🌈 Those banks were investment banks which didn't had al lot of money on the ECB, just their legal reserve... bunq is different and will (when I choose to) put all my money on an interest carrying account at ECB.

Heda

I’d like to add my two cents to this topic. In general i like the idea but I doubt bunq is every going to introduce a feature like that. Besides the interest is not very high. So what could people do?

There is this app called ShareTheMeal which allows you to make a donation and „share a meal“. Each meal costs 0.40 €. And the cool thing is you can actually chose a team in which name you’d like to make that donation. There is even a bunq team right now which has only 5 members (me including) and we already made like 136 donations or meals. Our goal is right now to get to 700 meals.

You can check it out here:

Schließ' Dich meinem Team #bunq in der #ShareTheMeal App an und lass' uns gemeinsam helfen! https://sharethemeal.org/now/?team=bunq&adjust_t=krjp1p

So if you have let’s say only 1000 € in your bunq account that makes 2.70 € in interests per year. That’s almost 7 meals you could share. Not much but it’s better than nothing.

This is a official and very trustworthy Programm from the United Nations.

Together we can make an impact.

Karim

Heda Thanks. Donated! Please make a separate topic to spread some more awareness!

Esther-Orange-Unicorn

Heda Great Idea 💡, I donate regularly for the bunq-Team in the ShareTheMeal program. But how can I become a member of the bunq-Team? Only with a facebook account? I don’t have/ don’t want facebook.

Heda

Esther 💎 No you don’t need to log in or Facebook. Just search for the team you want to make your donation for. 😝

Esther-Orange-Unicorn

Heda Ok, then I am already a member of the bunq team 🌈 at ShareTheMeal

Victor-Turquoise-Lion

With freedom of choice I can control what kind of investments are being made. Also i can choose not to receive interest.

What would be great is if in this time i could automatically donate all my interest to (for example) the red cross for covid-19 efforts. The work healthcare professionals do these days is nothing short of a miracle.

Of course I could manually do this. But I think some small automatic (and variable) donation would be a great effort to support the great work of healthcare professionals.

Another option would be to allow for an (second) saving goal that automatically would be converted into a donation.

It would be great to hear your thoughts on how we we bunq community can help.