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No FX fees with premium or add an additional package for no fx fees

Johannes shared this idea 1 week ago
Wish

I read some comments of bunq where you said card payments in foreign currencies are more expensive for you so you need the FX fee even with premium.

But as far as I know you get 0,2% for payments in the EU but outside of the eu you get much more because the EU law doesn't apply there. So even if payments in foreign currencies are more expensive for you I don't think its so expensive that even in the premium package you need to take 1,5%, because you also get more for each payment, but I am not a bank of course.


And I am not talking about ATM transactions, I am only talking about card payments.


I know you do not invest the money of your users and that's great! But with no way of getting 0% FX fees you still force people which are traveling very very often to use an additional card at a bank which invests the money of the users..


My wish here: Remove the FX fees in the premium package for card payments (its ok to have them for ATM payments) or add an additional package like "Premium+" or add an "add on" which you can add to your current premium membership (if you are traveling for 2 months you can just use the add on for two months and cancel it after it).


1,5% is ok for 2-3 payments in foreign transactions but when you are doing 30-50+ payments because you travel much more often? There should be a better way :)

Comments (9)

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4

Hi Johannes 🙋

Thanks for reaching out and sharing your thoughts with us.

Where you're coming from does seem like an interesting option to consider, giving bunqers the freedom to choose another membership option in place of the standardized fee when making payments abroad.

I will add this to our wishlist so we can see what other bunqers think about this idea 💡

Enjoy your evening!

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8

I would love an optional fee per month for unlimited payments in foreign currencies. Or a fair use policy like: untill €1000,- per month for free after that ..% or €.. per transaction. Like you guys do with the cash withdrawals. Or a totally different package like premium+ especially for travelers this would be a nice feature

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2

As NiB said below: This fee makes Bunq feel expensive compared to the competition. So you definitely should do something, it's ok to pay more for your great app and for not investing our money - but there must be a way to get this fx fees away

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7

To be honest, the 1.5% FX fee was and still is maybe one of the main things that makes bunq feel "expensive" for me, and discouraged me from upgrading to Premium. Especially since it's charged on top of what I'd consider a monthly fee that's not low, compared to other competitors (N26, Revolut, or, for instance in Germany, DKB. Feels like paying a premium price for a (supposedly) "complete package" - and then being bitten by additional per-usage fees on top of that.

Fair use policy seems sensible at first thought. However, I don't think the bar should be set a fixed 1000€ a month. That wouldn't even cover the occasional flight/holiday booking (once or twice a year) for many families - which I really feel it should.

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3

I totally agree on your points - regarding FX fees bunq „feels“ expensive as you already pay a „higher“ amount (compared to others). Of course we all agree that we like how bunq is doing things differently. However, if they want people to fully switch to bunq there is some change needed. I can only speak for myself, but I’m not willing to spend thousands of € per year abroad and pay quite a huge amount on FX fees - I’ll rather use a different card during this time.

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4

Yeah exactly! I mean I love bunq and I don’t have any problems with the pricing model that they have but since I’m a lot of times abroad and have to pay in foreign currency it’s gonna cost me a lot more! I’m willing to pay like an extra monthly fee to cover those cost. Now I’m using revolut next to it and I would cancel it if bunq fix this! This is on the other side also the only point that can be better in my opinion😃

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3

Yes 1.5 is expansive for premium package because we are premiums try to reduce or make fixed fee

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2

For example n26 premium fx exchange is free i suggest the same for.premiums.member

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3

Totally agree. FX costs should be 0% with a direct/online bank that charges 8€/month, especially when (to my knowledge) you earn the so-called „interchange“ as described by Johannes.. me personally, I‘m still doubting if I should be using bunq premium as I’m half of every week outside the Euro-Zone, so 1,5% on my expenses a month is a considerable amount, especially since I could have it for free completely (DKB credit card when you‘re an „active customer“)