bunq

What is bunq?

bunq is a European digital bank that offers mobile-first personal and business accounts with European IBANs and instant payments. Headquartered in the Netherlands, bunq operates under a full EU banking license (bunq B.V.) and is supervised by De Nederlandsche Bank (DNB). Eligible deposits are protected by the Dutch Deposit Guarantee Scheme (DGS) up to €100,000 per depositor. This regulatory status distinguishes bunq from e-money institutions and payment apps, providing users the safeguards of a bank along with app-based convenience.

bunq focuses on customers across the European Economic Area (EEA). Residents of EU countries, Iceland, Liechtenstein, and Norway can typically open accounts, subject to identity verification and local availability. As a mobile bank, bunq’s services are delivered primarily through its iOS and Android apps, with key banking functions—payments, savings, budgeting, and card controls—managed in-app. Geographic availability and certain features (such as localized IBANs, card types, or Apple Pay/Google Pay support) can vary by country due to local regulations and scheme participation.

The platform targets both individuals and businesses that want modern banking tools: multiple sub-accounts with unique IBANs for budgeting, instant SEPA transfers, in-app virtual cards for online payments, and business features such as automated tax set-asides and invoicing attachments. bunq also positions itself as sustainability-focused through its tree-planting program available on specific plans. International spending is supported via Mastercard, and international transfers are available through in-app partners where supported. Overall, bunq combines the safety of a licensed bank with the flexibility of a mobile payment platform.

Key Features & Services

Multi-IBAN current accounts with SEPA Instant

At its core, bunq provides European current accounts with IBANs that support SEPA transfers and, in many cases, SEPA Instant. Users can hold and organize money across multiple sub-accounts, each with its own IBAN. This setup enables clean separation of budgets (e.g., rent, bills, travel, taxes) without opening separate bank relationships. For businesses, dedicated IBANs per client or project streamline reconciliation and invoicing. SEPA Instant availability and transfer limits may depend on country and plan, but when enabled, euro transfers between participating banks settle in seconds, 24/7.

bunq provides local European IBANs and, in select markets, localized account details to help users receive payments as if they had a local account. This can reduce friction when getting paid by employers, marketplaces, or clients in different EU countries. Standard account actions—standing orders, payment requests, and recurring transfers—are available in-app. The bank also supports payment requests via links, making it easy to collect funds from contacts who don’t use bunq.

Sub-accounts for budgeting and shared spending

One of bunq’s hallmark features is the ability to create and manage multiple sub-accounts. Each sub-account can be used for a specific purpose and can have its own IBAN, card linkage, and rules. Users commonly set up sub-accounts for essential bills, savings goals, travel funds, and discretionary spending. The app can also categorize transactions, send spending insights, and help users track budgets over time.

Shared sub-accounts allow family members, roommates, or business partners to manage joint expenses with transparent visibility. Bill splitting tools and payment requests simplify shared costs, while permissions can be tailored so not everyone has full access. This structure is especially useful for freelancers and small businesses that need a lightweight way to separate tax money, reimbursements, and operating expenses without complex accounting software.

Daily interest on balances (country and plan dependent)

bunq pays interest on eligible balances and credits it daily, so users can see earnings accrue in real time without waiting for month-end statements. Interest rates and eligible account types vary by country, regulatory status, and plan. The daily accrual model is attractive for both individuals and businesses that keep operational balances, as it ensures funds are continuously working even in standard current accounts. Users can view rates in-app and on bunq’s website for their country of residence.

Savings features, such as named goals or sub-accounts, make it easier to set aside funds for upcoming expenses. While interest and eligibility can change, bunq consistently presents rates transparently in the app before users move money. For businesses, daily interest on operating funds can offset account fees or card costs over time, depending on usage patterns.

Cards for travel and everyday spending

bunq issues cards on the Mastercard network for global acceptance. Users can manage card settings in-app: enable or disable online payments, set limits, restrict use to certain regions, and freeze or unfreeze cards instantly. The app also supports virtual cards for safer online purchases, allowing users to keep their physical card details private when shopping on the web.

For everyday use, bunq supports contactless payments and mobile wallets (e.g., Apple Pay and Google Pay) in supported countries. When spending abroad, card transactions are processed at the network exchange rate and displayed instantly in the app. bunq publishes the applicable fees and any plan-specific terms in its pricing documentation, and users see clear information before confirming actions. ATM withdrawals are supported worldwide wherever Mastercard is accepted; local ATM operator fees may apply, and bunq may charge additional fees depending on plan and usage.

Business banking tools, including automated tax set-asides

bunq Business accounts include features that help self-employed professionals, freelancers, and SMEs handle day-to-day finances without heavy admin. A notable feature is automated tax set-asides: incoming payments can trigger an automatic transfer to a dedicated VAT or tax sub-account based on a percentage set by the user. This reduces the risk of spending money that should be reserved for tax obligations.

Other business-friendly tools include invoice attachments to payments, multi-IBAN workflows for client oversight, and export options for bookkeeping. bunq provides an API that developers and finance teams can use to integrate account data with internal systems and third-party tools. The goal is to give businesses real-time insight into cash flows while minimizing manual reconciliation. Access controls and shared sub-accounts also allow owners to collaborate with accountants or teammates securely.

Sustainability program and metal card option

For users who prioritize environmental initiatives, certain bunq plans include a tree-planting program linked to card spend. Bunq partners with reforestation organizations to plant trees based on spending thresholds, allowing users to track their environmental impact directly in the app. Eligible plans may also include a metal card option designed for durability. While sustainability benefits vary by plan and market, bunq clearly labels which tiers include tree-planting and how contributions are calculated.

International transfers via in-app partners

For cross-border payments outside SEPA, bunq offers international transfers through in-app partners in supported corridors. This typically provides transparent, competitive pricing and clear delivery estimates. Users initiate the transfer from the bunq app, see the fees and FX rate before sending, and can track status. Availability depends on the recipient country and the currencies supported by the partner in question.

Pricing & Fees

bunq uses a published, plan-based subscription model for both personal and business users. Exact pricing, included allowances, and country availability can change and may differ by market. Users should confirm current pricing in the app or on bunq.com before subscribing or upgrading.

Below is a high-level overview of how bunq structures its plans.

Plan name	Type	Billing	What’s included at a glance	Pricing
Easy Bank	Personal	Monthly subscription	Core EU account with IBAN, SEPA transfers, card access, mobile wallets where supported	Publicly listed on bunq.com
Easy Money	Personal	Monthly subscription	Multiple sub-accounts, richer budgeting, virtual cards, enhanced features vs. entry plan	Publicly listed on bunq.com
Easy Green	Personal	Monthly subscription	Includes sustainability features (tree-planting), premium card option, extended benefits	Publicly listed on bunq.com
Easy Bank Business	Business	Monthly subscription	Core business account with EU IBAN, SEPA transfers, card access	Publicly listed on bunq.com
Easy Money Business	Business	Monthly subscription	Additional sub-accounts, automation tools, virtual cards for teams	Publicly listed on bunq.com
Easy Green Business	Business	Monthly subscription	Sustainability features, premium card option, full feature set for SMEs	Publicly listed on bunq.com

Notes on fees and limits:

• Account and card fees: Each plan includes specific card entitlements (physical and virtual). Replacement or additional cards may carry fees. Details are shown before ordering in-app.
• ATM withdrawals: Local ATM operator fees can apply globally. bunq may charge withdrawal fees and limits that vary by plan and country; allowances, if any, are stated in plan terms.
• FX on card spends: Foreign currency transactions use network exchange rates; any bunq fee or markup is disclosed in the pricing schedule and may differ by plan.
• International transfers: Cross-border transfers outside SEPA are facilitated via partners, with fees and FX rates shown upfront before sending.
• Interest: Daily interest on eligible balances varies by plan and country. The app displays the applicable rate before you move funds.
• Other charges: Certain actions (e.g., urgent payments, card delivery, chargebacks) may have fees. bunq publishes a full fee schedule on its website.

If you need exact current amounts, consult bunq’s pricing page for your country, as the bank provides a detailed, regularly updated breakdown of all fees and plan features.

Pros and Cons

Pros

• EU-licensed bank with DGS protection up to €100,000 per depositor, offering stronger safeguards than e-money apps.
• Multiple sub-accounts with unique IBANs make budgeting, project accounting, and client segregation straightforward.
• Daily interest on eligible balances, shown transparently in-app, helps funds earn while staying accessible.
• Robust card controls, virtual cards, and mobile wallet support improve security for online and in-store payments.
• Business tools like automated VAT/tax set-asides and export options reduce routine admin for freelancers and SMEs.
• SEPA Instant support on eligible accounts enables near real-time euro transfers 24/7 where available.
• Sustainability features and optional metal card appeal to users who value environmental initiatives.

Cons

• Availability is focused on the EEA; users outside supported countries may not be eligible to open accounts.
• Some advanced features and higher allowances require higher-tier paid plans, increasing monthly costs.
• ATM withdrawals and foreign usage may incur fees that vary by plan; heavy cash users might prefer alternatives.
• International transfers rely on in-app partners; users needing specialized corridors may prefer a dedicated FX provider.
• No branch network; users who want in-person service may find a traditional bank more suitable.
• Feature availability (e.g., mobile wallet support, local IBANs) can differ by country, which may limit consistency across teams.

Who Is bunq Best For?

bunq is best for EEA-based individuals and businesses who want a mobile-first bank with strong budgeting and payment tools. If you manage multiple budgets or client projects, the ability to create many sub-accounts—each with its own IBAN—saves time and simplifies bookkeeping. Freelancers and SMEs that invoice in euros can benefit from SEPA Instant transfers and automated tax set-asides to avoid surprises at quarter-end. Personal users who prefer daily interest on accessible balances and strong card security controls will appreciate bunq’s app experience.

It also suits digital nomads and frequent travelers across Europe who need a euro account with broad card acceptance and instant notifications. If you rely on mobile wallets, bunq supports Apple Pay and Google Pay in many countries, making day-to-day payments convenient. Users who value sustainability may find the tree-planting program compelling, especially when paired with a metal card for durability.

Who might not be an ideal fit? If you require complex lending, extensive cash services, or in-person branch support, a traditional bank may meet your needs better. Companies operating outside the EEA or needing local accounts in non-European markets should consider a provider with wider geographic coverage. Heavy cash depositors and those needing specialized international payment corridors may prefer dedicated cash management or FX platforms.

bunq Alternatives

• Revolut (/revolut) – Better suited for businesses needing integrated expense cards, team budgets, and granular spend controls across departments, alongside strong multi-currency features and in-app analytics.
• N26 (/n26) – A good option for users who want a simple personal account with Spaces-style sub-accounts, a streamlined app, and straightforward pricing in supported EU markets.
• Wise (/wise) – Strong alternative for international payments and multi-currency balances with local account details in several currencies; ideal if low-cost FX and transfers are the priority over full-service banking.
• Monese (/monese) – Useful for newcomers to Europe who want quick mobile account setup with EU or UK account details and a focus on everyday spending rather than advanced business tooling.
• Paysera (/paysera) – Suitable for users and merchants who prioritize cross-border payments and multi-currency accounts, with additional merchant services that may complement or replace certain banking needs.