Bunq enters ireland

Has anyone used Bunq for children's accounts? I've been putting off setting them up with Revolut because they only offer 2 children's accounts on the €3.99 offering, and you need to go to the €15.99 per month offering to have more than two. Seems with Bunq you can have up to four childrens accounts for €3.99 per month. I just want somewhere they can save their birthday money in a savings account and have a current account with a card for pocket money. Not talking about major volumes of money you can imagine but is there any hidden costs - they say the offer cards on the childrens accounts and dont mention fees. Would be interested to hear anyones feedback on this. Thanks.

I opened a new Bunq account a couple of weeks ago via their website seamlessly without any stress or issues

Just use the calculator on your phone.

2000 × 2.67% = 53.40

53.40/12 = 4.45 euros per month before dirt

4.45 euros per month

(4.45 × .333%) = 1.483333 dirt

4.45 - 1.4833333333= 2.97 euros total after dirt(which you have to declare yourself at the end of the year)

Thats what I'm getting.

Bunq has the best interest rate but I found their app to be too buggy. It wouldn't let me scan my passport due to having tried scanning an old passport before. It got locked in verification mode. Because of the bugginess of the app which you are forced to use when applying by phone I would not recommend them. I might try Raisin even though their interest rates are a little lower.

The EU don't want people to be able to get any interest on their savings. They pretend inflation is dropping while everything is way overpriced and prices are still rising. It's a lie to suit the banks. So the interest rates for savings are dropping while prices are rising. After a while it likely won't be worth putting money in any bank.

There are still some good term deposit rates out there. AIB pay 2.77% for 2 years, PTSB pay 2.75% for 1 year, Easisave pay 3.10% for 3 months, Aareal via Raisin.ie pays 2.75% for 5 years.

How long does it take them to send out a physical card?

The credit card indeed has a limit equal the amount of funds on the account and each charge is deducted from those funds. Even if it's a pre-authorization for let's say a hotel booking.

The difference is that it's coded as credit card so in theory could be used at rental car agencies/hotels etc. where a deposit is required, but it would require you to have the appropriate funds available.

It's so that you can have a credit card without the risk of going into debt. And well as Bunq to get the credit card interchange rate without having the risk of extending you credit.

Now again, if you check into a hotel and they want let's say 150€ as deposit, you need to have that 150€ on your account (just you would need to have it on a debit card). While with a real credit card it would just be there as pre-authorization reducing your credit line.

Advantage is you get a credit card without having to pay 30€ to the Irish Government for the privilege because the stamp duty is not on the card but on the credit account behind it and Bunq does not give you a credit account, hence no 30€.

The introduced this concept when they still were issuing Maestro Card as their Debit card which had restrictions, but since Maestro is no more and even in their home country debit cards are more widely accepted now, they still offer a Debit Card and a Credit Card (without giving you actual credit line).