Key Takeaways
- Bunq is a Netherlands-based neobank that serves the EU market.
- It offers personal and business accounts supporting 22 global currencies.
- It also provides related features, including payment processing, expense management, credit cards, and interest-bearing savings accounts.
- We see some issues around Bunq’s lapsed availability in the UK and its expansion into the US, which is still in the early stages.
Bunq is a Dutch neobank that targets the EU as its core market, with past support for users in the UK and possible future access in the US.
Bunq CEO Ali Niknam and his team set out to launch a payment platform in 2012 in response to the then-recent economic crisis. They finally launched Bunq three years later, starting with the platform’s mobile app in 2015.
Since then, Bunq has grown significantly. It now serves 20 million users worldwide and claims to be the second-largest neobank in the EU.
Bunq is an important option, especially for users that need an EU-focused payments provider — but is it your best choice overall? Let’s take a look.
Why Choose Bunq?
Bunq’s banking services are primarily targeted at European users in need of multi-IBAN accounts and global payment solutions.
The platform is a suitable choice for small and medium-sized enterprises (SMEs), freelancers, sole proprietors, and individuals.
Plus, Bunq’s partial focus on automation and advanced API features can be useful if your company has development resources and staffing.
Bunq also advertises sustainability and ecological practices: it’s engaged in socially responsible investments, publishes annual accountability reports, and donates revenue, planting one tree for every €100 spent by users.
Those are Bunq’s key selling points, but taking maximum advantage of the platform means understanding it in-depth. So — is Bunq right for you?
Core Products and Offerings
Bunq offers a wide selection of features, including but not limited to:
- EU-wide access – Personal users can open accounts from most EEA countries. Businesses can open accounts from select EU countries.
- IBAN accounts – Each personal and business tier includes a set number of IBANs and support for 22 foreign currencies. Pro and Elite users can additionally create foreign IBANs (NL, DE, FR, ES, or IE).
- Savings accounts – Interest rates vary by currency and account type.
- Payment cards – Debit cards that are as recognized as credit cards.
- Incoming and outgoing payments – Scheduled payments, payment requests, and card and contactless payments.
- ATM withdrawals and deposits.
- Bill payments for businesses in more than 30 currencies worldwide.
- Expense management tools, including employee spending controls, receipt uploads, and accounting tools.
- Extra features for personal users, including crypto, budgeting, joint accounts, stock investing, and referral rewards.
Pricing and Fees
Bunq offers several service tiers. Available options include:
- “Core” business plans from €17.99/month, providing bank accounts, savings accounts with interest, multi-currency savings accounts, physical and virtual cards, and 100 free instant payments per year.
- “Pro” business plans from €13.99/month, offering higher limits on many of the above features, the ability to obtain foreign IBANs (NL, DE, FR, ES, or IE), and access to metal and employee cards.
- “Elite” business plans from €23.99/month, boasting even higher limits, foreign IBANs, and exclusive features such as travel insurance.
- Free business plans for sole proprietors, including banking services but lacking physical cards, free instant transactions, and other features.
- Personal plans from €0-€18.99/month. All personal tiers include basic banking, but the lowest tiers lack physical cards and other features.
Target Audiences and Use Cases
Bunq does not target specific sectors, nor does it publish individual client testimonials that showcase the benefits of its services.
However, it does highlight several key user groups:
- Small and medium-sized enterprises can benefit from 500 free transfers per year, smart bookkeeping, and bonus access to business services such as Google Workspace, Sixt, and DocuSign.
- Freelancers can take advantage of Bunq’s flexible tier system by starting with a free account and upgrading if necessary.
- Expats can quickly open a personal account without a tax ID, especially if they are emigrating to the Netherlands or traveling abroad.
- Individuals and personal users can obtain free student accounts, joint couple accounts, and parent-child accounts.
- EU businesses. Bunq serves companies with supported structures within its European service area — namely those in the Netherlands, Belgium, France, Germany, Austria, Spain, Italy, Ireland, and Portugal.
Compliance, Deposit Protection, and Security
Bunq has obtained a full European banking license from the Dutch National Bank (DNB). This operating model includes a Deposit Guarantee Scheme (DGS), which means that customer funds are insured for up to €100,000.
The platform once served UK customers but stopped adding users following Brexit. Bunq reapplied to operate in the UK in early 2024, but its application has shown no apparent progress as of late 2025.
Bunq has obtained a US broker-dealer license and may offer stock investments to US users in the future. It lacked a full US banking license as of late 2025.
Aside from registrations and compliance, Bunq practicse several security measures, including “safety locks,” name mismatch alerts, and the option to cancel delayed transactions when unauthorized activity is suspected.
Other security features include automatic logout times, user-set payment limits, and more. See full details on the company’s safety page.
What Are Bunq’s Biggest Limitations?
- EU-centric services, with minimal UK and US support as of late 2025.
- Transaction limits: Bunq sets generous limits (€1 million in overall daily activity), but imposes considerably lower limits on some actions.
- Batch payments: Batch payment support is minimal and has been removed from recent app updates but is still an API feature.
- Free plans only for individuals: Free tiers are only available for individuals and sole proprietors. Larger businesses must use a paid plan.
- Compliance concerns: In 2025, the Dutch central bank fined Bunq €2.6 million for its failure to investigate possible financial crimes. It claimed the firm was “deficient in following up on its transaction monitoring alerts.”
- Moderate industry restrictions: Bunq has restrictions on some industries, including metal and gas, weapons, pharmaceuticals and tobacco, insurance, finance, and gambling — and past documents suggest crypto activity and adult content are outside its risk appetite.
How Does Bunq Compare to Payset?
| Payset | Bunq |
| Web and mobile access | Web and mobile access |
| Business accounts: £29/month + fees | Business accounts: €17.99- €23.99/month; free tier for sole proprietors |
| Personal accounts: £9/month + fees | Personal accounts: €0-€18.99 /month |
| No sign-up fee | No sign-up fee |
| Support for over 180 countries and 34 currencies | Support for several EU/EEA countries and 22 currencies |
| Payment cards coming in 2026 | Payment cards and payment card processing |
| Bulk and scheduled payments (see details) | Minimal bulk payment features |
| Team access for all business users (see details) | Spending management tools |
| No transfer limits once compliance requirements are met (see details) | €1 million overall daily activity limits, but lower limits on some actions |
| Regulated in the UK as an EMI, with licenses and/or services globally | Regulated as a European bank, with limited UK and US services |
| Account opening in 1-3 business days | Account approval in less than one week — extra 30-day free trial if delayed |
| UK safeguarding policy protects user funds | Deposit Guarantee Scheme (DGS) insures user funds |
| Friendly to crypto and many other sectors; only prohibits adult content and illegal activity | Moderate restrictions; possible restrictions on crypto and adult content |
The Bottom Line
Bunq is a popular option for users who are located in its EU service area, especially those looking for a variety of advanced features. Its multi-currency accounts, payment services, and API are all valuable business tools.
However, we see Bunq’s limited service area as a key flaw — especially its discontinued UK support and minimal US support in late 2025.
At Payset, we aim to offer maximally global service: with support for over 180 countries, including the UK, EU, and the US, we’ll help you get your money where it needs to go. Plus, we provide access to 34 currencies and multiple payment networks, including SEPA, SWIFT, CHAPS, and beyond.
See how Payset compares to other leading payment solutions here.
Open a Payset account today — no sign-up fee required.
Disclaimer: Pricing, features, and details on this page are based on competing websites at the time of writing (November 2025). Details may change over time, vary by region, and do not cover all service options offered by competitors. Users should verify details with competitors. Payset does not endorse or represent any competitor, nor have competitors endorsed the above content. Payset and related parties disclaim liability for any errors or actions taken based on this content. Information is for general purposes only and offered at the user’s own risk.
