Save. It's so important. And nowadays a simple and, in our opinion, free savings account is essential for this. The importance of saving and putting money aside is beyond dispute. This is essential for healthy financial planning. And your peace of mind. So you would think that the banks would also endorse this and make this as easy as possible. But unfortunately that has been less and less the case lately.
The Triodos stops offering a free savings account
Unfortunately, Triodos Bank has stopped offering free savings accounts this year. We really don't think it is possible to pay for a savings account. That is a shame, as we would like to put our money with a green bank that can then lend the money to good sustainable projects. But paying for that when you already receive rounded 0% interest is going a bit far in our opinion.
We would like to see the Triodos bank become an alternative for small entrepreneurs. For example, with a simple product for paying and saving. Experience now shows that it is often not chosen because of the costs, even though the green vision of Triodos Bank is very appealing.
Bunq a good alternative for saving?
Also Bunq was a good one to easily create some pots and save. If you were lucky, you had an old account that was still free so that you could save well with all the smarts of Bunq. Unfortunately, Bunq has kicked out all free users and it now costs €7 per month, minimum. Perhaps that is a reasonable amount if you switch completely to Bunq and would like access to the latest banking gadgets in the payment country. If you want to save cheaply, because all costs are deducted from your return, then it is a different story.
We are curious what you think Bunq finds!
MoneYou is for savers, right?
MoneYou's savings accounts have been a great success and very popular for years. Very easily creating different savings accounts for different savings purposes works like a charm.
Then came the MoneYou Go checking account, which made it super easy to create funds to save. All smart functions to easily save and pay. We became more and more fans of it.
Until, you guessed it, MoneYou and MoneYou Go were also killed by parent company ABN AMRO. The reason is that too little was earned from the savings accounts. That it cost ABN AMRO too much money to maintain this separate company.
Then there was one less good and, above all, free savings account.
Good and free savings account
Fortunately, there are other options. Currently we are Brand New Day testing. You probably know Brand New Day mainly as a pension provider. Since they took over a bank, you can also open a savings account with Brand New Day. And you can easily open multiple savings accounts so that you can get started with your individual savings again.
Unfortunately, you cannot yet name the accounts yourself. Fortunately, you can ask customer service to have this done, but that is a bit cumbersome.
Other savings accounts
There are a few other companies in the Netherlands that offer savings accounts. These are often not the major banks, but insurers or smaller banks. We will also subject this to a test to see whether it is smart to open an account there.
We will continue to work on savings accounts in the near future Brand New Day to take over the funds we had set up at MoneYou. We will of course let you know how we like it!