Open multiple bank accounts and transfer your money easily with bunq.
bunq is a mobile bank account
Currency conversion fee
What's in this review?
How does bunq work in Germany?
With bunq, everything you do is handled on the app and there are no physical branches. bunq’s range of products includes a Premium account, which comes with a monthly fee. bunq also offers a travel card that doesn’t charge a monthly fee but does have a one-off setup fee, currently €9.99.
The Premium account lets you set up 25 individual IBAN accounts to manage your money. In the app you are able to use budgeting tools, set up savings goals, use a personal payment link to get paid easily by friends and get free ATM withdrawals when you travel overseas. Its highest tier account, bunq SuperGreen, also allows you to offset your Co2 emissions by planting trees on your behalf.
What features does bunq offer?
- Three debit cards included. You can choose to use up to three types of debit card with your bunq account: a Mastercard, a Maestro card and a travel card.
- MassInterest. bunq lets you earn interest on whatever money you have in your account, not just your savings account. Premium account holders earn 0.27% on any money held in their accounts which is paid monthly.
- ATM withdrawals. You won’t be charged a fee for up to 10 withdrawals per month.
- Create multiple accounts. bunq lets you create up to 25 bank accounts with their own unique IBAN. If you need more, you can create 25 more for €19 per month.
- Money transfers abroad with TransferWise. Bunq’s partnership with money transfer service TransferWise means sending money abroad at competitive rates.
- Apple Pay and Google Pay. You can pay with bunq using your iPhone or Android.
- Premium SuperGreen.Upgrade your account to unlock membership of its environmentally-friendly Green Card scheme. For €16.99 a month you’ll get a metal card, and bunq will plant trees to offset your Co2 emmissions.
- Personalised payment links. You can use bunq.me to generate a link to send people who owe you money, and they can pay you back easily. They don’t need to be Bunq customers.
- Dual PIN. bunq lets you set two PINS for one card so you can pay from two accounts.
- Travel assistant. In the bunq app you can use the travel assistant so you can get help spending in another currency.
What types of bunq accounts can you open?
bunq offers three types of personal accounts: bunq Premium, bunq SuperGreen and bunq Travel.
Compare all bunq products
What fees and limits apply with bunq Premium?
There are a few different costs and limits to be aware of with bunq. These include:
- A monthly fee applies with bunq. For its Premium account, this is €7.99. For the bunq Premium SuperGreen account, you’ll pay €16.99 a month.
- Sending money in Euros is free and sending money in any currency other than Euros will be charged at TransferWise rates.
- You won’t be charged for withdrawing cash at an ATM up to 10 withdrawals per month.
- 25 additional bank accounts are included with both the Premium and SuperGreen accounts. If you need more bank accounts, you can access up to 25 more for €19 per month.
Is bunq safe?
Any money you have with bunq is protected up to €100,000 by the Deposit Guarantee Scheme of the Dutch National Bank (DNB). If bunq were to go out of business, your money will still be safe.
The card is also protected by a PIN which you choose yourself. If your card is lost or stolen, you can block it from the app within seconds and immediately order a replacement card.
Pros and cons of bunq in Germany
- The option of multiple bank accounts
- You can earn interest on money you hold in your bunq account
- 0% foreign currency exchange fee
- Cheap international money transfers with TransferWise
- No free bank account option
- Maximum 10 free ATM withdrawals a month
- You’ll still need another bank account for some of your financial needs
Compare bunq with other digital banks in Germany
*You must transfer at least 3 salary payments (wages, salary, pension, salary, BAföG) of at least 1,000 € per month by 31 March 2021.