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Digital bank bunq raises interest rates

Friday 10 February 2023 14:20 CET | News

Netherlands-based digital bank bunq has announced raising interest rates again. 

Interest rates on call deposit accounts and fixed-term deposit accounts have already increased in recent months, which is now the case with bunq. The digital bank is increasing its interest rate again and instead of 1.05%, there is now 1.31% interest on private savings accounts. This applies to credits of up to EUR 100,000. Interest is calculated daily and credited to the account at the end of the month.


Interest on account deposits

If users want to get interest on their deposits at bunq, they have to activate the "MassInterest" function for the respective account. On deposits of up to EUR 100,000, there is then 1.31% interest, which is more than many overnight accounts. The customer can choose which sources the interest should come from, for example only from investments in "green companies".

Bunq current account cost

The neobank currently offers 3 different account models. The cheapest is the Easy Bank account which costs EUR 2.99 per month and is suitable for normal banking. The Easy Money account costs EUR 8.99 per month and allows accounts in 16 currencies as well as easier investing of excess money. Users who spend EUR 17.99 per month will receive access to the Easy Green account. According to a bunq representative, this account model means that banking processes should be climate-neutral after two years. For every EUR 100 in sales, the bank plants a tree. 

Netherlands-based digital bank bunq has announced raising interest rates again.

Another feature of bunq, which applies to all accounts, is that according to its data protection declaration, the bank does not work in collaboration with the German private credit bureau Schufa. This makes it possible to open a bung account without Schufa.


Bunq’s additional features

The neobank offers users the option to get up to 2 free Mastercards and 25 virtual Mastercards for safe online payments. Customers can spend overseas with no added fees, and enjoy all the perks of a credit card, including booking hotels and renting cars, without the risk of debt. Active AutoVAT, and the bunq app, will calculate the VAT on users’ incoming and outgoing payments and save it in a dedicated sub-account automatically.


Customers can also have the bunq app automatically send bank statements to their bookkeeper and integrate their favourite bookkeeping software with bunq. Additionally, users can create a lifelong personal payment link which can be shared in order to get paid back with bunq.me. Those who are sent the link can then pay directly from their bunq account, via IDEAL, Sofort, and even with their card.

Source: Link


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Keywords: banking, mobile banking, bank account, online banking, online payments
Categories: Banking & Fintech
Companies: bunq
Countries: Netherlands
This article is part of category

Banking & Fintech

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bunq

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