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FAQ for users

Q: how does it work now?

A: Sign up to Limitless, connect your bunq account and your designated "savings" account and set your goals. With every debit card transaction, we calculate an agreed amount to be automatically transferred to your "savings" account which is scaled on a sliding scale from 2-20%, depending on the size of the transaction. This amount goes from the current account (the one associated with your card) to your designated "savings" account at bunq.
The smaller the transaction, the larger the percentage saved and vice versa. This way you can reach your goals faster. On top of this, you are free as a user to save any additional amount as you wish directly to one of your savings goals.


Q: How much gets saved?

A: Based on your spending, Limitless automatically saves a certain % from each transaction. This would be 20%, if you spend between € 0-10, 15% between € 11-50, 10% between € 51-100, 5% between € 101-500 and 2% above € 500.


Q: Is it safe?

A: Yes, your money is kept in your bank accounts and not ours.  We have banking level SSL security, our systems are working on security tested and certified infrastructure; and we have tested the server and verified its security through an external third party.

 

Q: Is my personal information safe?

A: Yes, we keep your information safe with banking level TLS/AES encryption and our infrastructure has the following certifications: FIPS, ISO 27018, PCI DSS Level 1 and SOC 3.

 

Q: How do I choose my goals?

A: It’s up to you. You can save for your birthday, for travel, a deposit for a car or home, a charity of your choice or any other goal. Limitless just helps you achieve them.

 

Q: How much do I need to save?

A: There is no minimum or maximum amount, you have the freedom to decide.

 

A: Where is Limitless currently available?

A: You can download it from the App Store however currently you can only use it in the European Union if you have a bunq account . Not a bunq customer or live outside of the EU? We are working hard to bring Limitless closer to you! Please get in touch , and follow us on LinkedInTwitterInstagram and Facebook to stay up to date.


Q: how will it work in the future?

A: Sign up to Limitless, connect your bank account and set your goals. With every debit card transaction, we calculate an agreed amount to be automatically transferred to your savings account which is scaled between 2% to 20%, depending on the size of the transaction. This amount goes from the current account of your bank (the one associated with your card) to your investment account at our partner bank, with a small amount invested into an appropriate fund (made up of a diverse selection of low cost ETFs) with the balance into very low risk savings-type accounts for short term goals as before. Over time, the proportion going into investments will rise.
The smaller the transaction, the larger the percentage saved and vice versa. This way you can reach your goals faster. On top of this, you are free as a user to save and invest any additional amount as you wish directly to one of your savings goals.

 

If your question hasn’t been answered - We are happy to help you. Contact us via mail or use our live chat service through our website or via the Limitless app.