Bux offering 2.01% on cash balances up to €25k

AlmightyCushion · 11-04-2023 4:25pm #1

From an email I received from them:

As of 5 April BUX is offering 2.01% annual interest on your uninvested cash balance.

That's right - you can start earning interest compensation by simply depositing funds into your BUX account. And the best part? No other Dutch neo-broker offers a higher rate

Your deposit with BUX is held at ABN Amro Clearing Bank and is protected up to €100,000 under the conditions of the Dutch Deposit Guarantee Scheme (DGS).

Interest compensation will be paid quarterly on uninvested cash balances up to €25,000.

If you sign up with a referral you receive a free share. They say Apple, GoPro, Dropbox or others as an example but I wouldn't get my hopes up for an Apple share.

R11 · 11-04-2023 8:25pm

How do I get one of these accounts? I presume I've to pay DIRT on the interest?

JTMan · 11-04-2023 8:25pm

Great to see this. I just signed up via the referral thread.

Bux clearly trying to slightly pay better than Trade Republic with their 2.01% offer.

Rate is not as good as lightyear ( https://golightyear.com/eu ) but 100k is protected rather than 20k with Lightyear.

JTMan · 11-04-2023 8:30pm

https://www.boards.ie/discussion/comment/120466659#Comment_120466659

Sign up via https://getbux.com/ - use a referral.

Yes, you need to pay DIRT to the Revenue via your tax return.

DopeTech · 11-04-2023 8:33pm

Do you need to pay the monthly fee even if you don’t invest?

AlmightyCushion · 11-04-2023 8:51pm

https://www.boards.ie/discussion/comment/120466706#Comment_120466706

I had a Bux account for a while now and haven't paid any fees. Saying that, I don't use it for trading. I only signed up because I got a referral for a free share ages ago.

R11 · 11-04-2023 9:03pm

https://www.boards.ie/discussion/comment/120466689#Comment_120466689

Are Bux and lightyear instant access?

JTMan · 11-04-2023 9:05pm

https://www.boards.ie/discussion/comment/120466856#Comment_120466856

Yes, both instant access.

JTMan · 11-04-2023 9:07pm

https://www.boards.ie/discussion/comment/120466790#Comment_120466790

I have just noticed that there is a 2.99 EUR a month account fee. They hide that.

AlmightyCushion · 11-04-2023 9:50pm

https://www.boards.ie/discussion/comment/120466872#Comment_120466872

I've never paid a fee so no idea how it works. I had to deposit 5 euro to get a free share. Then I withdrew the 5 euro after I got the share. I have never been charged anything but I haven't had money in it either. That fiver was probably there for only a few days at most and it was over a year ago.

evostik · 11-04-2023 10:00pm

The Service Fee was introduced effective 01/04/23.

Service Fee

To make the trading experience easier, BUX offers its customers access to a variety of value added features such as news, price alerts, dividend calendars, and much more. Instead of offering these features to only a select group of premium customers, BUX strives to continue making investing accessible, intuitive, and affordable for everyone. In order to give all customers access to these features we are introducing a monthly service fee of €2.99. In this way we can keep the overall cost of trading as low as possible, and our savings plans commission-free, while remaining fair and transparent toward all our clients.

epopnomis · 12-04-2023 8:17pm

where are the referral links.. can you still get a free share???

DopeTech · 12-04-2023 8:24pm

https://www.boards.ie/discussion/comment/120470759#Comment_120470759

Over in the referral codes forum!

https://www.boards.ie/categories/referral-codes

epopnomis · 12-04-2023 8:54pm

so 2.01% on balances up to 25K, approx 500 euro a year minus 36 for monthly fees.

Bobeagleburger · 13-04-2023 5:46am

https://www.boards.ie/discussion/comment/120470894#Comment_120470894

Minus Dirt tax @ 33%

epopnomis · 13-04-2023 8:50am

ah yes so about 300 quid a year back on 25K.

sob1467 · 13-04-2023 9:29am

Just did some tots on it after taking into account DIRT & the annual account fee the effective interest rate into your pocket is very low. 1% for €10k and 1.2% for €25k. Don't think it is worth the hassle.

Bux offering 2.01% on cash balances up to €25k

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