Bunq is a fully licensed Dutch digital bank that offers modern, mobile-first banking services across Europe. Founded in 2012 in Amsterdam, bunq has grown to become the second-largest neobank in the European Union, serving both personal and business customers with innovative banking features.
Unlike traditional banks, bunq operates entirely online without physical branches, focusing on user-friendly apps, instant notifications, and features designed for digital nomads, freelancers, and internationally-minded Europeans.
Where is Bunq Available?
Bunq currently operates in 21 countries across Europe and select overseas territories:
European Countries: Austria (AT), Belgium (BE), Bulgaria (BG), Denmark (DK), Finland (FI), France (FR), Germany (DE), Greece (GR), Iceland (IS), Ireland (IE), Italy (IT), Netherlands (NL), Norway (NO), Portugal (PT), Slovakia (SK), Slovenia (SI), Spain (ES), Sweden (SE), United Kingdom (GB)
French Overseas Territories: Guadeloupe (GP), French Guiana (GY), Martinique (MQ), Réunion (RE)
All users receive a local IBAN from one of bunq's banking locations, making it easy to receive payments and manage finances across Europe.
The Rise of a Dutch Banking Disruptor
Bunq has emerged as one of Europe's most innovative digital banks since its founding in 2012. Created by entrepreneur Ali Niknam with his own funds, the bank has grown organically without venture capital backing for many years, demonstrating remarkable independence and sustainable growth.
The bank made history as the first company in 35 years to receive a Dutch banking license, breaking into a heavily regulated industry dominated by traditional institutions.
10 Key Facts About Bunq
1. Dutch Origins: Founded in 2012 in Amsterdam by entrepreneur Ali Niknam, bunq was the first company in 35 years to receive a Dutch banking license from the Dutch Central Bank (DNB).
2. Impressive Growth: Now the second-largest neobank in the EU with over 5 million users, bunq continues to expand its presence across Europe.
3. US Expansion Plans: The bank has filed for a banking license with the FDIC in New York, signaling ambitious plans for transatlantic expansion.
4. Strategic Acquisitions: Bunq has grown through smart acquisitions, including:
- Capitalflow: An Irish lending platform for SMEs
- TriCount: A Belgian expense-sharing app that brought 5.4 million new users to the platform
5. Expat-Friendly: Unlike traditional Dutch banks, bunq allows account opening without a BSN (Dutch social security number), making it ideal for newcomers to the Netherlands and international users.
6. Independent Funding: For many years, bunq was solely funded by its founder Ali Niknam, who invested over €100 million of his own money, maintaining independence from external investors and their demands.
7. Innovative Features: The bank pioneered features like instant money requests, shared bank accounts with real-time spending updates, and sub-accounts for budgeting.
8. Sustainable Banking: Bunq plants trees based on spending across all paid plans, with Elite users getting 1 tree planted for every €100 spent.
9. Multiple Account Types: Offers four account tiers from completely free to premium, plus business banking solutions for freelancers and companies.
10. European Coverage: Available across the European Economic Area with local IBANs, making it a versatile option for cross-border banking, travel, and international business.
Bunq for Business
Beyond personal banking, bunq offers a comprehensive business banking solution designed for freelancers, entrepreneurs, and companies.
Business Account Features:
- Dedicated business IBANs
- Team management with role-based access
- Integrated invoicing tools
- Multi-currency accounts for international business
- Batch payments for salary and supplier payments
- API access for accounting software integration
- VAT-compliant transaction categorization
Business accounts mirror the personal account structure with Free, Core, Pro, and Elite tiers, allowing businesses to choose the features that match their needs.
Bunq Plans: Which One is Right for You?
Bunq offers four account tiers, from a completely free option to premium banking with exclusive benefits:
bunq Free (€0/month)
Best for: Budget-conscious users, students, and those trying digital banking for the first time
Key Features:
- 3 bank accounts with local IBANs
- Savings accounts earning 2.01% interest
- 1 physical Mastercard + 1 digital card
- Instant and scheduled payments
- Apple Pay & Google Pay
- 6 free ATM withdrawals per month
- €1,000/year zero foreign exchange fees (ZeroFX)
- Crypto trading at 1.99% per trade
- 1 tree planted per €1,000 spent
Ideal Profile: Students, young professionals, or anyone wanting to test bunq without commitment. Perfect for basic European banking needs with simple budgeting through multiple sub-accounts. Great starter option before upgrading to paid plans.
bunq Core (€3.99/month)
Best for: Savers and users who want enhanced features at an affordable price
Key Features:
- Everything in Free, plus:
- 5 bank accounts
- Multi-currency savings earning 3.01% interest (USD/GBP)
- Foreign currency accounts in 22 currencies
- bunq.me payment requests (paid with iDEAL, debit/credit card)
- Invoice scanning
- Joint accounts with other bunq users
- Crypto trading at 0.99% per trade
- 1 tree planted per €1,000 spent
Ideal Profile: Savers looking to maximize interest returns, especially those comfortable holding USD or GBP. Good for Europeans who occasionally deal with foreign currencies but don't travel extensively. The 3.01% interest rate on foreign currency savings is a standout feature at this price point.
bunq Pro (€9.99/month)
Best for: Frequent travelers, digital nomads, and users managing complex finances
Key Features:
- Everything in Core, plus:
- 25 bank accounts for advanced budgeting
- 3 physical cards + 25 digital cards
- Personalized card designs
- Foreign IBANs (NL, DE, FR, ES, IE) for receiving local payments
- 5 free foreign currency transfers per month
- Unlimited ZeroFX (no foreign exchange fees)
- Travel insurance included
- 4x2GB eSIM data free per year (save on roaming)
- Child accounts for up to 4 children
- 50% discount on stock trading fees
- Crypto trading at 0.49% per trade
- Priority 24/7 SOS hotline
- 1 tree planted per €250 spent
Ideal Profile: Digital nomads who travel frequently and need unlimited fee-free foreign spending. Perfect for freelancers working with international clients who need foreign IBANs (e.g., German IBAN for German clients). The included travel insurance and eSIM data make this excellent value for location-independent workers. Also great for parents wanting to teach children money management.
bunq Elite (€18.99/month)
Best for: High-net-worth individuals, frequent luxury travelers, and crypto enthusiasts
Key Features:
- Everything in Pro, plus:
- Metal Mastercard included (100% stainless steel)
- 10 free foreign currency transfers per month
- Crypto staking to earn passive income
- Double bunq Points rewards
- Airline miles on spending
- Crypto trading at just 0.25% per trade (lowest rate)
- Priority support with fastest response times
- 1 tree planted per €100 spent (best sustainability impact)
Ideal Profile: Affluent travelers who want premium banking with a prestigious metal card, comprehensive insurance, and maximum rewards. Ideal for crypto investors who want the lowest trading fees and staking capabilities. Perfect for those who spend enough to benefit from double points and airline miles. The aggressive tree-planting (10x more than Core) appeals to environmentally conscious high spenders.
Comparison: Which Plan Should You Choose?
| Your Situation | Recommended Plan |
|---|---|
| Student or first-time digital banking user | Free - Try bunq risk-free |
| Want to maximize savings interest | Core - 3.01% on USD/GBP savings |
| Travel frequently within Europe | Pro - Unlimited ZeroFX + travel insurance |
| Digital nomad working internationally | Pro - Foreign IBANs + eSIM data |
| Crypto trader or investor | Elite - Lowest fees (0.25%) + staking |
| High spender wanting premium experience | Elite - Metal card + double rewards |
| Parents wanting kids' accounts | Pro or Elite - Child account features |
| Budget-conscious but need basics | Free or Core - Under €4/month |
Pro Tip: Start with the Free plan to test bunq's interface and features. You can upgrade anytime to access premium features, and bunq often offers promotional trials of paid plans.
Can Bunq Be Trusted?
Bunq operates under a full European banking license issued by the Dutch Central Bank (DNB) and is regulated by the European Central Bank (ECB). This means:
✓ Deposit Protection: Deposits are protected up to €100,000 per account holder under the Dutch Deposit Guarantee Scheme (DGS)
✓ Regulatory Compliance: The bank must comply with strict European banking regulations, including anti-money laundering (AML) and know-your-customer (KYC) requirements
✓ Regular Audits: Subject to ongoing supervision and audits by Dutch and European banking authorities
✓ Transparent Reporting: Publishes annual financial statements and maintains transparent communication with users
✓ No Investment Risk: Unlike investment platforms, bunq is a deposit-taking institution, meaning your money is held as deposits, not investments
Security Features:
- 3D Secure authentication for online payments
- Instant transaction notifications
- Ability to freeze/unfreeze cards instantly
- Biometric login (fingerprint/face recognition)
- Rotating CVC codes for enhanced card security
- Two-factor authentication
- Localized card protection (cards only work near your phone)
Why Choose Bunq?
For digital nomads, young Europeans, and internationally-minded users seeking flexible banking solutions, bunq offers several key advantages:
✓ Easy Account Opening: Open an account in 5 minutes from your smartphone without visiting a branch
✓ Multi-Currency Support: Hold accounts in 22 global currencies with competitive exchange rates
✓ Modern Banking Features: Instant payments, real-time notifications, and advanced budgeting tools like Salary Sorter
✓ Strong Privacy Focus: bunq emphasizes user privacy and data protection with transparent policies
✓ Extensive European Presence: Available in 21 countries with local IBAN support, plus foreign IBANs (DE, FR, ES, IE)
✓ No BSN Required: Unlike traditional Dutch banks, you don't need a Dutch social security number to open an account
✓ Sustainable Banking: All paid plans include tree planting based on spending, with Elite planting 1 tree per €100
✓ Free Option Available: Unlike most neobanks, bunq offers a genuinely functional free tier with no hidden fees
✓ Advanced Features: Open API for automation, Zapier integration, crypto trading with staking, and stock investing
Is Bunq Right for You?
Bunq excels as a modern European digital bank, particularly for:
- Expats and international workers in Europe
- Digital nomads and frequent travelers (Pro/Elite plans shine here)
- Freelancers needing multiple IBANs for different markets
- Crypto enthusiasts wanting integrated trading and staking
- Environmentally conscious consumers (tree planting feature)
- Families wanting to teach children financial literacy
- Anyone frustrated with traditional banking bureaucracy
- Savers seeking competitive interest rates (3.01% on USD/GBP)
However, bunq may not be ideal if you:
- Prefer in-person banking at physical branches
- Need banking services outside Europe (though US expansion is coming)
- Want completely free international transfers (Pro/Elite offer limited free transfers)
- Require advanced investment products beyond stocks and crypto
- Need a bank account for business activities requiring very high transaction volumes
Getting Started with Bunq
Ready to try bunq? You can start with the completely free plan with no commitment, no credit card required. Simply download the app, verify your identity with a passport or ID card, and start banking within 5 minutes.
You can upgrade to paid plans anytime to unlock features like unlimited ZeroFX, travel insurance, multiple cards, and foreign IBANs.
Looking to explore bunq's features in detail? Visit our comprehensive bunq review or check out our bunq business account guide to learn more about what this innovative Dutch bank has to offer.
