Bunq is a mobile bank that majorly serves people from European countries. The bank has its headquarters located in Amsterdam, Netherlands. Ali Niknam personally founded the bank in 2015 with the money he made with a hosting company. The bank offers personal and business accounts that make it easy to transact.
The bank does not have branches and it does not require any paperwork or queuing. This is also called a virtual bank account. You have the option to open a bunq joint, premium or business account. The bunq joint account is maybe the easiest way to open a joint account in Europe today.
Bunq does not offer customer support over the phone. Customer support is available in six languages, including English and Spanish, and is done through emails, notifications and in-app customer support. However, they have excellent customer support on the app, where you can ask for help. Tap on
Help from the app and then write down your question.
bunq Mobile App
Bunq delivers all its financial services through a mobile app. With the app, you can open a free transaction account. You can also open up to 25 accounts at a fee. Businesses can also use the app to open an account. One advantage of the mobile bank is that you can request money from a friend and split various bills. Payments are usually instant. You can open a fully-fledged bank account online.
bunq Banking License
bunq is a fintech company that began its operations in the form of payment solution. It later expanded to deposit accounts for its customers. In 2015, the bank was granted its banking license by the Dutch Central Bank (DNB). This enabled the bank’s customers to make deposits of up to 100,000 euros into their accounts, which is a requirement by the Deposit Guarantee Scheme.
Besides, the bank also got a mandate to transact with other banks. When you open an account with bunq, you get an IBAN bank account number, which allows you to make deposits and instant payments to different financial institutions.
Countries in Which bunq is Available
bunq is currently available in eight countries within the European markets, namely The Netherlands, Italy, Spain, Germany, Ireland, France, Belgium and Austria. The bank is planning to expand to other European markets, namely, Republic of Cyprus, Czech Republic, Denmark, Slovenia, Estonia, Bulgaria, Croatia, Finland, Poland, Portugal, Greece, Lithuania, Luxembourg, Sweden, Romania, Malta, Slovakia, Hungary, Latvia, the United Kingdom and non-EU countries Norway and Iceland.
Customers from these countries will also be in a position to create online bank accounts and get IBAN account numbers and a debit card that will attract a monthly subscription fee.
bunq supports six languages for both customer support and banking services. Among them is English, Spanish and Dutch.
bunq Business Account
bunq offers business bank accounts. To create is easy and it only takes five minutes. Also, opening a bank account is done online and the process does not require any paperwork. You also don’t need to visit a bank or to queue to have a bank account for your business. You only need your smartphone, which you can then use to download the bunq app. The app has advanced inbuilt features that save you time.
With the business account, you can execute SEPA XML files at anytime. You can also open multiple bank accounts, each of which comes with an IBAN account number. The app also has an inbuilt budgeting feature, which helps one to allocate money to the most important things. You do not have to enter payments manually to the system since you can scan the invoice. Also, the app has an inbuilt bookkeeping feature that is synchronized with your business transactions.
The business account has the following benefits:
- No charges for foreign exchange
- It is eight times cheaper compared to international payments
- You can save money using the app
The bunq business account is straightforward. The account attracts a monthly maintenance fee of €9.99. When you open an account with bunq, you can subscribe to the bunq travel card. To get the card, you only need to make a onetime payment of €9.99. With the card, you can withdraw money from any ATM worldwide at a fee of €0.99 for every withdrawal. Check out for other bunq charges here.
You can also subscribe to the bunq Green Card that is used to make payments. To get the card, you only need to subscribe for only €99 annually. The card is used to make payments so that every payment is deducted from the card’s balance.