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  • Why do Pack members have a much lower MassInterest limit?

@Hemmik#72489 Hi Hemmik,

Small update... bunq apparently did miss a few pages during this update 😉. They still talk about a full Premium. I reported it.

    @JohnDo#73272 Now let’s hope the update their policy rather than the T&Cs 😉

      @smyles#73273 agreed. they implemented the no interest toggle within 2,5 weeks, so let's give them the benefit of the doubt ánd another 2,5 weeks to make it so that pack users do get 0,27% interest on their balances up to € 10'000 each. (so 40'000 in total)

        @DaveFlash#74077 Just like all other Premium members who get interest up to €10.000. And just like 10 Premium members get a limit of €100.000. Mentioning a limit of €40.000 for a pack should be avoided in my opinion, because the limit should be user based, not subscription based. That's the case for all other features and limits of Premium. Let me clarify.

        Subscription limits vs User limits

        Perhaps bunq sees "being in pack" differently than many users. Users might think, "let's get Premium!" and later think "Let's join a pack so I pay a little less but keep my exact same premium account with the exact same features and limitations. Nothing changed!".

        Bunq on the other hand sees it from the pack owner perspective who get's a pack and then invites others who share the €10.000 limit. It's the only limit they share. They don't share number of IBANs, cards or anything else, just the interest limit. Because the limit applies to a subscription while all other limits and features apply as if everyone is a full Premium member. So the limit is consistent from a (paying) subscription perspective.

        The question remains. Why only apply this limit on paying subscription level, while all other limits are on user level. That is inconsistent. It feels like an escape hatch or oversight. Or bunq seeing it as a Pack User where the user might see it as a Premium user in a pack. See the different approach?

        "But a pack is still cheaper"

        A pack still being cheaper in the end should not be a reason to keep this confusion and people having to calculate if it's profitable to go get a pack or not... And for just 2 or 3 people in a pack it might not even be true. And if you want to check if that's true, you have to start calculating again. Sigh...

        Keep it simple.

        But bunq will need to pay more interest

        If bunq starts paying Premium users in a pack the correct interest they will need to get the money from somewhere. Maybe all interest from users who disable getting interest (from a moral/religious/tax/simplicity perspective) could compensate (partly) the extra cost for bunq. Just a thought.

        I hope I didn't repeat others or myself to much, but wanted to share the possible reasoning (and inconsistency in that reasoning) from bunq side. Cheers.

          17 days later

          Hi all,

          Today I recieved my first interest! Very cool....

          Still, think bunq is sending very mixed signals. They explicitly telt me I received Interest because I'm a Premium user, so not because I'm a Pack user. So, I read this as "you are a premium user, so you receive interest over the full first 10k". But, that isn't the case. Confusing.

          Please bunq, make it more easy to understand and give everyone the same limit :)

            @JohnDo#79190 I also received my first interest, and a quick calculation shows it is indeed capped at € 2’500.

            I am a member of a pack / premium.

              Support did at today:
              "Well the pack, is just 4 premium accounts bundled together for the purpose of invoicing together. There are no less features, just less interest"

              The second sentence contradicts the first one :)...

                Maybe we should all ask support the same question:

                “When I’m a Premium user and I join a pack, you suddenly reduce the interest I get. Why is that? What did I do wrong? The number of IBANs or cards stays the same, but you take away 75% of the normal interest. Why the punishment? You don’t want people to join a Pack?”

                Maybe one of us will get a satisfying answer 😆

                Not sure if the “victim-act” will work, but could be an interesting chat 😉

                  My 2 cents on this are: the “MassInterest” is just some calculated discount on your Premium subscription cost, but marketed as “interest”. Since it’s capped at a maximum of 10k (or 2,5k for pack members), this just builds the case that it’s a plain discount marketed as some “massive interest X times more than regular banks”. Less subscription cost per person on a pack; so less discount. 😋
                  It’s still cool tho 👌

                    @Michiel#79362 You are victim of what, exactly?
                    What you pay is what you get. Do you pay more and get less? Or do you pay less and get less.
                    Premium 12x7,99=95,88 with an amount of 10k (or more) would be an interest of 27,38 = total cost minus interest: 68,50
                    Pack is 12x5=60 with 10k (or more) would be an interest of 6,84 = 53,16 (total minus interest)
                    So you pay 15,34 less a year (as Pack-member than as premium), but you're whining because it's not 20 EUR more (35,88EUR)??

                    @soap#79367 That's it, it's a marketing gag, which is legitimate. If you do the math you end up with:
                    10k = 0,27% per annum
                    20k = 0,135
                    30k = 0,09
                    40k = 0,067
                    ...
                    90k = 0,030
                    100k = 0,027

                      @SimonM#79370 The problem is that bunq used to promote the Pack as a cheaper way to have bunq Premium without any side effects. But now you do get less. And in all their communication they still present to Pack users that they have a Premium subscription. But that is not true because you don't get the same as Premium anymore.

                        @SimonM#79370 In my opinion it isn't about the numbers. Sure, at the end Packers have a excellent deal! With and without that lower limit! So no complaints there :)

                        But what bugs me a bit is the motivation bunqs give: "to be consistent". There's nothing consistent about that rule I think, it is rather confusing.

                        So, at the very least bunq should be clear about this limit when selling / promoting Pack. Because Pack now all of a sudden has a slightlyyy different feature set. No big deal, but just be clear about that (or raise that limit).

                          @JohnDo#79375 You're right bunq is not consistent, but "not make money with money" and mass-interest is also inconsistent. They had to survive in a negative-interest environment (ECB), I guess that's the reason. If they had to be consistent, the easiest way would be, to cancel pack. Or to offer Pack only for the same address.

                            @JohnDo#79375 You're right, to be consistent, it would be fair, that only paying members would get interest for the first 10k. Okay wait? Only the pack owner would get the interest? Yes, of course and he shares it, with his members, as he shares the costs...

                              @SimonM#79380 That’s another inconsistency. The pack owner pays but does not get interest over 10K. Every Pack member gets interest over 10K/members. If only paying users get interest, why doesn’t only the owner get interest? Not fair? At least it’s consistent...

                              I agree with John. It’s not about the numbers. It’s about the change in a Pack membership and incorrect communication.

                                8 days later

                                So just to be clear... I'm in a pack with 3 other. I only get interest over 2500€ and I will get it every month on my main bank account?

                                  @Jos-Golden-Unicorn#82092 Correct!

                                    @Jos-Golden-Unicorn#82092 You will get it on your billing account. It was 0,57 euro so you actually got 0,2735% interest instead of 0,27% !