- 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 saving up for your next dream purchase, or experience, with a 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 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
It costs €3.99/month to open the basic bunq’s “Easy Bank” account and get 1 physical card free of charge. However, by opening the “Easy Bank” account, you receive 3 cards free of charge and in the “Easy Green” 4. In the “Easy Bank” account you do not get free withdrawals, whereas in the “Easy Money” and “Easy green” account you get 10 free withdrawals/month.
Personal account types
| Easy Savings | Easy Bank | Easy Bank Pro | Easy Bank Pro XL | |
| Price per month | €0.00 | €3.99 | €9.99 | €18.99 |
| Card Fee | X | 1 card free of charge | 3 cards included, €9.00 + €3.00/month for every additional card | 4 cards included, €9.00 + €3.00/month for every additional card |
| 25 sub-accounts included | X | X | ✓ | ✓ |
| Free ATM withdrawals (EUR) | X | €0.99 per first 5 withdrawals | 10 withdrawals/month | 10 withdrawals/month |
| Free payments (EUR) | Maximum of 3 outgoing (non-instant) payments per month. Receiving payments is free and not limited | ✓ | ✓ | ✓ |
| Currency Conversion | X | X | The Currency Cloud exchange rate + network fee (0,5%) | The Currency Cloud exchange rate + network fee (0,5%) |
| Google Pay & Apple Pay | X | ✓ (selected countries) | ✓ (selected countries) | ✓ (selected countries) |
| Receiving money outside SEPA (EUR) | X | ✓ Terms fees apply | ✓ Terms fees apply | ✓ Terms fees apply |
| Top up with iDEAL, Sofort or Bank Transfer | Free | Free | Free | Free |
| Top up with credit or debit card | First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards | First €500 free per month. 0.5% for EEA cards or 2.5% for non EEA cards | First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards | First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards |
| International Transfers | X | TransferWise | TransferWise | TransferWise |
Easy Savings
Price per month
€0.00
Card Fee
25 sub-accounts included
Free ATM withdrawals (EUR)
Free payments (EUR)
Maximum of 3 outgoing (non-instant) payments per month. Receiving payments is free and not limited
Currency Conversion
Google Pay & Apple Pay
Receiving money outside SEPA (EUR)
Top up with iDEAL, Sofort or Bank Transfer
Free
Top up with credit or debit card
First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards
International Transfers
Easy Bank
Price per month
€3.99
Card Fee
First card free
25 sub-accounts included
Free ATM withdrawals (EUR)
€0.99 per first 5 withdrawals
Free payments (EUR)
Currency Conversion
Google Pay & Apple Pay
Selected countries
Receiving money outside SEPA (EUR)
Top up with iDEAL, Sofort or Bank Transfer
Free
Top up with credit or debit card
First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards
International Transfers
TransferWise
Easy Bank Pro
Price per month
€9.99
Cards included
3 cards
Card Fee
€9.00 + €3.00/month
25 sub-accounts included
Free ATM withdrawals (EUR)
10 withdrawals/month
Free payments (EUR)
Currency Conversion
Real exchange rate via TransferWise
Google Pay & Apple Pay
Selected countries
Receiving money outside SEPA (EUR)
Top up with iDEAL, Sofort or Bank Transfer
Free
Top up with credit or debit card
First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards
International Transfers
TransferWise
Easy Bank Pro XL
Price per month
€18.99
Cards included
4 cards
Card Fee
€9.00 + €3.00/month
25 sub-accounts included
Free ATM withdrawals (EUR)
10 withdrawals/month
Free payments (EUR)
Currency Conversion
Real exchange rate via TransferWise
Google Pay & Apple Pay
Selected countries
Receiving money outside SEPA (EUR)
Top up with iDEAL, Sofort or Bank Transfer
Free
Top up with credit or debit card
First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards
International Transfers
TransferWise
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
| Easy Savings | Easy Bank | Easy Bank Pro | Easy Bank Pro XL | |
| Price per month | €0.00 | €7.99 | €13.99 | €23.99 |
| 25 sub-accounts included | X | X | ✓ | ✓ |
| Card Fee | X | 1 card free of charge | 3 cards included. €9.00 + €2.99/month for every additional card | Metal card included |
| Free ATM withdrawals (EUR) | X | €0.99 per first 5 withdrawals | 10 withdrawals/month | 10 withdrawals/month |
| Free payments (EUR) | Maximum of 3 outgoing (non-instant) payments per month. Receiving payments is free and not limited | €0.11 per payment/request | €0.11 per payment/request | €0.11 per payment/request |
| Currency Conversion | X | X | The Currency Cloud exchange rate + network fee (0,5%) | The Currency Cloud exchange rate + network fee (0,5%) |
| Google Pay & Apple Pay | X | ✓ (selected countries) | ✓ (selected countries) | ✓ (selected countries) |
| Receiving money outside SEPA (EUR) | X | Per Swift inbound up to €25.00 | Per Swift inbound up to €25.00 | Per Swift inbound up to €25.00 |
| Top up with iDEAL, Sofort or Bank Transfer | €0.11 | €0.11 | €0.11 | €0.11 |
| Free top up with credit or debit card | First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards | First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards | First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards | First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards |
| Bulk Payments | X | ✓ | ✓ | ✓ |
| Paying a direct debit | X | €0.11 | €0.11 | €0.11 |
| Scanning and paying invoices in the bunq app. | X | X | €0.22 per scan + €0.11 per payment | €0.22 per scan + €0.11 per payment |
| Automate all your finances with Zapier | X | X | Free | Free |
Easy Bank
Price per month
€7.99
25 sub-accounts included
Card Fee
Free Payments (EUR)
Maximum of 3 outgoing (non-instant) payments per month. Receiving payments is free and not limited
Free ATM withdrawals (EUR)
Currency Conversion
Google Pay & Apple Pay
Receiving money outside SEPA (EUR)
Top up with iDEAL, Sofort or Bank Transfer
€0.11
Free top up with credit or debit card
First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards
Bulk Payments
Paying a direct debit
Scanning and paying invoices
Automate all your finances with Zapie
Easy Bank Pro
Price per month
€13.99
25 sub-accounts included
Cards included
3 cards
Card Fee
€9.00 + €2.99/month
Free ATM withdrawals (EUR)
10 withdrawals/month
Free Payments (EUR)
€0.11 per payment/request
Currency Conversion
€0.10 per payment+ the real exchange rate
Google Pay & Apple Pay
Selected countries
Receiving money outside SEPA (EUR)
Per Swift inbound up to €25.00
Top up with iDEAL, Sofort or Bank Transfer
€0.11
Free top up with credit or debit card
First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards
Bulk Payments
Paying a direct debit
€0.11
Scanning and paying invoices
€0.22 per scan + €0.11 per payment
Automate all your finances with Zapie
Easy Bank Pro XL
Price per month
€23.99
25 sub-accounts included
Cards included
Metal card included
Card Fee
€9.00 + €2.99/month
Free ATM withdrawals (EUR)
10 withdrawals/month
Free Payments (EUR)
€0.11 per payment/request
Currency Conversion
€0.10 per payment+ the real exchange rate
Google Pay & Apple Pay
Selected countries
Receiving money outside SEPA (EUR)
Per Swift inbound up to €25.00
Top up with iDEAL, Sofort or Bank Transfer
€0.11
Free top up with credit or debit card
First €500 free per month. 0.5% for EEA cards or 2.5% for non-EEA cards
Bulk Payments
Paying a direct debit
€0.11
Scanning and paying invoices
€0.22 per scan + €0.11 per payment
Automate all your finances with Zapie
Free
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.