Amsterdam, 27 July 2023 - BUX, Europe’s fastest growing neo-broker, is thrilled to announce a significant increase in the interest rate compensation on uninvested cash from 2.3% to 2.5% per annum. The increase follows the ECB rate hike announced on 27 July. The increased interest rate compensation kicks in on 1 August 2023 and affects all BUX customers.
The heightened interest rate compensation demonstrates BUX's unwavering commitment to delivering value and maximising returns for its clients. By offering the highest interest rate compensation of all Dutch financial services companies, BUX is further empowering its customers to make the most out of their uninvested funds, ensuring their money works harder for them.
Yorick Naeff, the CEO of BUX, expressed his enthusiasm about this further increase in interest rate compensation, stating, "At BUX, we are dedicated to empowering our users and creating opportunities for their financial growth. We understand that every penny counts, and with the increase in the interest rate compensation on uninvested cash to an industry-leading 2.5% per annum, we are reinforcing our commitment to help our clients achieve their financial goals more effectively."
BUX's move to raise the interest rate compensation on uninvested cash aligns with the ECB's recent decision to increase rates, exemplifying BUX's proactive approach in responding to changes in the financial landscape. This step sets BUX apart as a financial institution that prioritises its clients' financial well-being while adapting to evolving market conditions.
BUX works with a very experienced partner. ABN AMRO Clearing Bank N.V. holds your money on a cash trading account and your money is protected up to €100,000 under the conditions of the Deposit Guarantee Scheme (DGS).
With more than 1 million users, BUX is on a clear path to becoming Europe's leading neo-broker. With its intuitive investment app, BUX makes investing easier and more affordable for everyone. With BUX, investors can invest in fractional shares, ETFs, ETCs, and cryptocurrencies from 2019. Investing can also be put on autopilot through the BUX Investment Plan. BUX is currently available in the Netherlands, Belgium, France, Germany, Spain, Italy, Austria, and Ireland. The fintech scale-up is headquartered in Amsterdam and is backed by some of the most prominent international venture capital firms.