Bunq Review

Company Information

Bunq is an international mobile bank that serves the European Economic Area (EEA) and was created by Ali Niknam in 2015. This Amsterdam-based mobile bank is a borderless, branchless bank that is permitted and insured by the Dutch (Holland) Central Bank.

Bunq operates in six languages with options to open 25 multicurrency accounts. You can either go cardless or have up to three physical cards and five virtual debit cards. With Bunq, you can send money requests, pay zero fees on international transactions, and it’s compatible with Apple Pay and Google Pay.

Pros & Cons


  • Although it’s an independent bank, Bunq is fully licensed under the Dutch Central Bank which offers added protection and Bunq users’ funds are protected up to €100,000.00.
  • CVC code refreshes for additional security and you choose password or fingerprint protection
  • 0.27% interest rate on all accounts


  • A free account isn’t worth much since you aren’t given access to a card and a “premium” account only allows for one personal account.
  • Only available for permanent residents of the EEA

Who is it for?

As we’ve established, permanent residents of the EEA will benefit most from Bunq. Especially those who travel internationally or plan on spending large periods of time abroad where the Euro is used, it’s great for securing rentals and taking care of domestic expenses while traveling between European countries.

Bunq is also good for those who have poor credit scores and have trouble building their finances since there’s no credit check required. 

On-Boarding Process

It’s extremely quick and easy to open a Bunq account and you can start using it before your card even arrives. Instantly open up to 25 sub-accounts and joint accounts that you can start using right away.

Accounts & Pricing

Three types of personal accounts: a free Travel Card Only account, a Premium account for €7.99 per month, and a Joint account for €9.99 per month.

With the Travel Card account, you pay a one-time €9.99 fee for the card and €0.99 for every ATM withdrawal. With a Premium account, you get 3 free cards and can pay €9.00 + €3.00 per month for every additional card. With a Joint account, you get 4 free cards and the same fees apply for every additional card.

For both Premium and Joint accounts, you’re allowed 10 free ATM withdrawals per month before the €0.99 fee applies.

Bunq also has Business plans for €9.99 per month which offers 3 cards and 10 free ATM withdrawals per month. The Business plan has options for bulk payments, receiving money outside SEPA, and functions to help with invoicing and receipts. 

Key Features

  • Unlike many mobile banks, your Bunq card is a credit card meaning that you’ll be able to use it anywhere Mastercard/Maestro is accepted. 
  • When sending money requests, the people paying you don’t need to be Bunq users. 
  • Dutch users can easily switch from their current bank to Bunq and automatically get all auto-payments and direct debits switched to a new Bunq account.
  • Create savings goals and choose auto-save options.

To Sum Up

If you live in the EEA and travel often or do business internationally, Bunq could be a great mobile bank for you. Bunq has incredible security features and with its association with the Dutch Central Bank, there are many perks. 

However, it’s likely you’ll have to pay for the service you want as the free option isn’t great. And if you’re not a permanent resident of the EEA, Bunq is unavailable to you. 

Overall, if you don’t do a lot of traveling or international transactions, there’s probably a less pricey option when it comes to a mobile bank for everyday use.


  • Sign up in 5 minutes for 1 month trial of premium account
  • Shop online safely using a virtual one-time Online Card
  • Easy budgeting and saving tools
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