- Free payments in different currencies, no foreign exchange fees
bunq Review
bunq Review
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Introduction
bunq is an Amsterdam-based, international mobile bank, founded in 2015 by Ali Niknam, the original founder of the IT company TransIP.
Being officially permitted and insured by the Dutch Central Bank, bunq, however, is a totally independent borderless European bank, without any branches, queues, or paperwork whatsoever. The bank is a mobile app itself.
bunq is fully international with the app and website being available in 6 languages for both operation and customer support. By opening a bunq account, one get access to 25 bank accounts (multicurrency), up to 3 physical cards (Mastercard / Maestro) and up to 5 virtual Debit Mastercards.
Debit Card
Languages
- NL
- DE
- EN
- IT
- ES
- FR
Plans
- Free Account
Rating
Banking Features
Multiple bank accounts
Open a bank account for any need, straight from the bunq app. Whether it’s for groceries, your holiday or going out with friends, you can open bank accounts in seconds, each with a unique IBAN.
Up to 25 sub-accounts
Open a subaccount for any need, straight from the bunq app in seconds, each with a unique IBAN.
Transfers Abroad
Send money to 39 supported currencies with Wise (TransferWise) with the mid-market exchange rate, and no hidden fees.
Personal payment links
bunq.me link is the easiest way to get your money back or split your bills with friends. It works with any European bank client, and you can set it up in seconds. They don’t need to be bunq users, or even install the app).
iDEAL integration
No hassle with e-readers or plastic cards, since bunq mobile bank has iDEAL integration.
Online Cards
You can create up to 5 Online Cards on top of your 3 physical cards, and use them immediately. No extra charge required.
Apple Pay and Google Pay
Add your bunq card to your Apple Pay or Google account and enable contactless in-store payments as well as instant, secure online payments with a higher level of security (Touch ID, Face ID).
Instant Switch
As a collaboration between Dutch banks, the Dutch Switch Service lets one instantly switch account from another bank to bunq, and automatically forward all payments and direct debits to your bunq account.
In-app card control:
Enable foreign payments, activate paying online, set CVC codes to change, create virtual cards, block/unblock cards.
Fingerprint login:
A choice of preferred login method: a password or a fingerprint.
Savings Goals:
Helps save up for your next dream purchase, or experience, with the current status of your progress. Savings Goals are shareable with friends, family or partners.
Auto Save:
Achieve your goals faster by setting your bunq app to save automatically on every payment, and round up your spendings to €1, €2, or €5.
Interest rate:
bunq claims to provide customers with an interest rate of 1.56% and will apply to savings and checking accounts of both personal and business users.
bunq Points
bunq Points allow users to earn and redeem points for added benefits.
bunq Jackpot! 3 chances to win €10,000 every month:
There are several ways in which you can hit the Jackpot:
- Invite your friends to join bunq, so you can enjoy it together
- Keep money in your bunq account – with every euro you add, your chance to hit the Jackpot
- Increases. every card payment you make, anywhere in the world and online.
Markets:
- You’re a Dutch or German resident with a personal or business account
- You’re a French resident with a personal account
Taxes:
- Netherlands – You receive €7,100.00, bunq is paying the rest as tax
- Germany – You receive €10,000.00, you should handle the taxes yourself afterward
- France – You receive €10,000.00, no taxes applied
bunq Accounts and Fees
Personal account types
| bunq Free | bunq Core | bunq Pro | bunq Elite | |
| Price per month | €0.00 | €3.99 | €9.99 | €18.99 |
| Card fee | X | 1 card free of charge | 3 cards included | 3 cards included |
| Free ATM withdrawals (EUR) | X | X | 6/month | 6/month |
| Instant and schedule payments | ✓ | ✓ | ✓ | ✓ |
| Open bank account in foreign currencies | 22 global currencies | 22 global currencies | 22 global currencies | 22 global currencies |
| Split payments | Travel Insurance | ✓ | ✓ | ✓ |
| Zero foreign exchange | €1,000/year | Unlimited | Unlimited | Unlimited |
| Google Pay & Apple Pay | ✓ | ✓ | ✓ | ✓ |
| Multi-currency savings accounts | ✓ | ✓ | ✓ | ✓ |
| Deposit protection | ✓ | ✓ | ✓ | ✓ |
| eSIM | ✓ | ✓ | ✓ | 4*2GB free/year |
| Travel insurance | X | X | X | ✓ |
| 24/7 online support | ✓ | ✓ | Priority | Priority |
bunq Free
Price per month
€0.00
Card fee
Free ATM withdrawals (EUR)
Instant and schedule payments
Open bank account in foreign currencies
22 global currencies
Split payments
Zero foreign exchange
€1,000/year
Google Pay & Apple Pay
Multi-currency savings accounts
Deposit protection
eSIM
Travel insurance
24/7 online support
bunq Core
Price per month
€3.99
Card fee
1 card free of charge
Free ATM withdrawals (EUR)
Instant and schedule payments
Open bank account in foreign currencies
22 global currencies
Split payments
Zero foreign exchange
Unlimited
Google Pay & Apple Pay
Multi-currency savings accounts
Deposit protection
eSIM
Travel insurance
24/7 online support
bunq Pro
Price per month
€9.99
Card fee
3 cards included
Free ATM withdrawals (EUR)
6/month
Instant and schedule payments
Open bank account in foreign currencies
22 global currencies
Split payments
Zero foreign exchange
Unlimited
Google Pay & Apple Pay
Multi-currency savings accounts
Deposit protection
eSIM
Travel insurance
24/7 online support
Priority
bunq Elite
Price per month
€18.99
Card fee
3 cards included
Free ATM withdrawals (EUR)
6/month
Instant and schedule payments
Open bank account in foreign currencies
22 global currencies
Split payments
Zero foreign exchange
Unlimited
Google Pay & Apple Pay
Multi-currency savings accounts
Deposit protection
eSIM
4*2GB free/year
Travel insurance
24/7 online support
Priority
Business accounts
- The direct connection between bunq and bookkeeping software
- The VAT set aside and transfer to a designated VAT sub-account automatically
- All receipts in one place
- Own IBAN for each sub-account
- Realtime API
- Employee access
| bunq Free Busines | bunq Core Business | bunq Pro Business | bunq Elite Business | |
| Price per month | €0.00 | €7.99 | €13.99 | €23.99 |
| Employee cards | X | X | 3 included | 10 included |
| Virtual cards | 1 included | 1 included | 25 included | 25 included |
| Foreign IBANs | X | X | NL, DE, FR, ES or IE | NL, DE, FR, ES or IE |
| Free ATM withdrawals (EUR) | X | X | 10/month | 10/month |
| Instant and scheduled payments | ✓ | ✓ | ✓ | ✓ |
| Foreign currency payment | Fees apply | Fees apply | 5 free transactions/month | 10 free transactions/month |
| Split payments | X | ✓ | ✓ | ✓ |
| Request payments with bunq.me | ✓ | ✓ | ✓ | ✓ |
| In-store deposits | X | €100 free/month | €100 free/month | €100 free/month |
| Trade names | X | ✓ | €2.99 per month/trade name | €2.99 per month/trade name |
| Invoice Scanning | X | X | ✓ | ✓ |
bunq Free Business
Price per month
€0.00
Employee cards
Virtual cards
1 included
Foreign IBANs
Free ATM withdrawals (EUR)
Instant and scheduled payments
Foreign currency payment
Fees apply
Split payments
Request payments with bunq.me
In-store deposits
Trade names
Invoice Scanning
bunq Core Business
Price per month
€7.99
Employee cards
Virtual cards
1 included
Foreign IBANs
Free ATM withdrawals (EUR)
Instant and scheduled payments
Foreign currency payment
Fees apply
Split payments
Request payments with bunq.me
In-store deposits
€100 free/month
Trade names
Invoice Scanning
bunq Pro Business
Price per month
€13.99
Employee cards
3 included
Virtual cards
25 included
Foreign IBANs
NL, DE, FR, ES or IE
Free ATM withdrawals (EUR)
10/month
Instant and scheduled payments
Foreign currency payment
5 free transactions/month
Split payments
Request payments with bunq.me
In-store deposits
€100 free/month
Trade names
€2.99 per month/trade name
Invoice Scanning
bunq Elite Business
Price per month
€23.99
Employee cards
10 included
Virtual cards
25 included
Foreign IBANs
NL, DE, FR, ES or IE
Free ATM withdrawals (EUR)
10/month
Instant and scheduled payments
Foreign currency payment
10 free transactions/month
Split payments
Request payments with bunq.me
In-store deposits
€100 free/month
Trade names
€2.99 per month/trade name
Invoice Scanning
Student accounts
Student accounts will now be more accessible, offering free bunq Pro accounts for eligible students aged 18-25 and bunq Elite for just €9 per month.
Family accounts
Family accounts now include up to 4 free bunq Pro accounts for children with Core, Pro, or Elite plans.
Security
Create virtual cards, block and unblock current cards if lost or stolen, view and change your PIN directly from your phone — total control over the cards and account in general, quickly from the app.
bunq has a full banking license issued by the Holland Central Bank, so the customers’ funds are protected and refundable up to €100k.
Card settings on-the-go
Changing your PIN, setting card limits, (de-)activating or blocking a card, all that in real-time, just from your mobile.
bunq’s patent-pending Dual PIN technology enables using 1 card for 2 accounts.
Mastercard rotating CVC code:
An extra safety layer making the CVC code refresh automatically every few minutes in the app, or letting users update it manually.
bunq Support
bunq offers standard means of contact: a built-in-app chat and Email.
Instead of a basic FAQ section on the website, bunq offers the clients a proprietary community platform “Together”, where users can ask for help, find answers, or just share experiences, and get ranked and promoted, for doing so. By sharing knowledge, the users earn points and can get a higher ranking.
Unfortunately, bunq doesn’t provide telephone support.
Pros
- Very quick and easy to sign up
- No fees for spending in Europe with Euros
- Multiple sub accounts
- Easy joint account option
Cons
- Just 10 Free ATM withdrawals per month
- Monthly fee
- Available only for permanent residents of the EEA
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I am using bunq now for a year and I like it very much due to the direct control you have over your own money and accounts. Eg. my previous bank made it my problem to check my automatic direct debits. Also the ZeroFX is very welcome when you travel and I think the APP is great.
Fantastic app! First time I manage to stick to my budget thanks to the easy to set up and easy to manage accounts. Recently the app has started crashing more often. That is something that is not acceptable as I am using bunq as my only bank. Will give 5 stars once that is resolved.
I have been using bunq as my primary bank for about one and a half year and I will just say: the best bank app I have used/seen so far! Very good customer support as well.
Conclusion
Opening a bunq account is fast and very easy, and even before the card arrives, you could use it with the card details in the app. Once opened a personal account, you can also have a joint account shared with someone else.