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BUNQ Bank
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Lorrmcmac
Posts: 3 Newbie

What Str the
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Lorrmcmac said:What are the experiences with this bank? I want to deposit a substantial amount but a bit hesitant. I know it's covered by the European gaurantee.
https://www.financemagnates.com/fintech/bunq-second-largest-neobank-in-eu-reports-first-quarterly-profit/
To be clear, this is a Dutch bank and it's covered by the Netherlands' deposit protection scheme*. There is no, "European guarantee." The same as Britain, EU and Eurozone countries each have their own it's just the coverage level - presently €100,000 - is set by the EC.
If it's a substantial amount of money and you're nervous about then I wouldn't do it. It looks like its only offering 1.56% on its savings account.
*Which I'd personally be relaxed about.0 -
You don't say what currency your funds are in or the target currency when you want to withdraw0
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Lorrmcmac said:What are the experiences with this bank? I want to deposit a substantial amount but a bit hesitant. I know it's covered by the European gaurantee.
Personally I'd stick with a UK bank if you live in the UK. I think using the Financial Ombudsman Service and Financial Services Compensation Scheme should you ever need to, would be easier for a UK resident than dealing with the Dutch equivalents.0 -
TheBanker said:Lorrmcmac said:What are the experiences with this bank? I want to deposit a substantial amount but a bit hesitant. I know it's covered by the European gaurantee.
Personally I'd stick with a UK bank if you live in the UK. I think using the Financial Ombudsman Service and Financial Services Compensation Scheme should you ever need to, would be easier for a UK resident than dealing with the Dutch equivalents.
From the OP's (short) posting history it appears that they're abroad but Bunq is available in a number of EU countries, which could be why they see a different rate although Bunq's Dutch website also shows 1.56%.
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wmb194 said:TheBanker said:Lorrmcmac said:What are the experiences with this bank? I want to deposit a substantial amount but a bit hesitant. I know it's covered by the European gaurantee.
Personally I'd stick with a UK bank if you live in the UK. I think using the Financial Ombudsman Service and Financial Services Compensation Scheme should you ever need to, would be easier for a UK resident than dealing with the Dutch equivalents.
From the OP's (short) posting history it appears that they're abroad but Bunq is available in a number of EU countries, which could be why they see a different rate although Bunq's Dutch website also shows 1.56%.0
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