bunq review
Open multiple bank accounts and transfer your money easily with bunq.
bunq is a mobile bank account that offers a number of convenient features. You can open multiple bank accounts with unique IBANs, the bunq app is available in six languages and you can earn interest on funds you hold in your account. Plus, you get the security features and low fees you expect from a digital bank. In this review of bunq for Germany we break down exactly what you can expect from a bunq account so you can decide if it’s right for you.
€7.99
Monthly fee
€0.99
ATM fee for Euro withdrawals
€0
Currency conversion fee
Details
| Product Name | bunq easyMoney Personal |
|---|---|
| Monthly fee | €7.99 |
| Card delivery | Up to working 10 days |
| Supported currencies | 1 |
| Card fee | €0 |
| ATM fee for Euro withdrawals | €0.99 |
| Currency conversion fee | €0 |
| Free ATM withdrawal limit | 10 withdrawals per month |
| Mobile payments | Apple Pay, Google Pay, Fit bit Pay |
| Card type | Mastercard, Maestro |
| Go to site More Info |
How does bunq work in Germany?
With bunq, everything you do is handled on the app and there are no physical branches. bunq has recently simplified the types of personal accounts it offers, now offering easyTravel (formerly Travel), easyMoney (formerly Premium) and easyGreen (formerly SuperGreen).
There’s no monthly maintenance fee for easyTravel but there is a one-off fee for the travel card, currently €9.99. For easyMoney, you’ll pay €7.99 a month or €16.99 a month for easyGreen.
Both the easyMoney and easyGreen accounts allow you to set up 25 individual IBAN accounts to manage your money. In the app, you’ll be 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. bunq’s highest tier account, easyGreen, also allows you to offset your CO2 emissions by planting trees on your behalf.
Compare all bunq products
Key features of bunq
bunq easyTravel
The bunq Travel Card offers the following features:
- No monthly fee. You won’t pay any monthly fees but there is a one-off fee of €9.99 for the card.
- No weak exchange rates. Through its partnership with TransferWise, bunq charges you the real exchange rate for international currency transfers.
- Notifications. Keep track of your spending with notifications.
- Freeze your card. Lock and unlock your card so it can only be used when you want it to be.
- Hassle-free splitting. Manage group travel expenses through the bunq Splice Groups function.
bunq easyMoney
bunq’s easyMoney account, which costs €7.99 a month includes:
- Three debit cards included. Each bunq easyMoney account comes with three cards that you get to choose: the Maestro card, a debit Mastercard and the bunq Travel Card.
- MassInterest. bunq lets you earn interest on whatever money you have in your account, not just your savings account. Earn 0.27% on the first €10,000 held in your accounts, which is paid monthly.
- Savings and payments. You can put money towards your savings goals, create a shared savings goal or create a slice group to split payments.
- 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. You can create 25 more for €19 per month.
- Money transfers abroad with TransferWise. bunq uses TransferWise rates for international money transfers. You won’t be charged a fee unless you hold a bunq business account where you’ll pay €0.10 per transfer.
- Apple Pay, Google Pay and FitBit Pay. You can pay with bunq using your iPhone, Android or watch.
- Free account top-ups. Top up your account for no charge when you use iDeal, Sofort or a bank transfer.
- 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.
- Control your finances. Make use of receipt scanning, Zapier and Auto Vat.
- Travel assistant. You can use the travel assistant in the bunq app so you can get help spending in another currency.
bunq easyGreen
With easyGreen, bunq’s top tier account for €16.99 a month, you’ll have access to all the features of easyMoney as well as the following exclusive perks:
- Become Co2 free. For every €100 that you spend through your easyGreen Business account, a tree will be planted.
- Metal card. Get a free exclusive Metal card if you sign up and pay for 24 months upfront.
- Protection. You’ll receive Metal card purchase protection and extended warranty.
Fees and rates
There are a few different costs, fees and limits to consider when you choose a personal account with bunq. Below, we’ve listed some of the most important fees that you should consider. For a complete list of the fees, visit the bunq website.
| easyGreen | easyMoney | easyTravel | |
|---|---|---|---|
| Monthly maintenance fee | €16.99 | €7.99 | Free except for one-off fee of €9.99 for travel card |
| Additional 25 sub-accounts | €19 | €19 | N/A |
| bunq+1 joint account | €2.99 | €2.99 | N/A |
| Transfer fee to, or from, other SEPAs (Single Euro Payments Areas) | Free | Free | Free for receiving SEPA payments only |
| Transferring non-euro payments through TransferWise | TransferWise fee only per transfer | TransferWise fee only per transfer | N/A |
| Direct debit or credit card top-up | Free for the initial €500 deposited per month then 0.5% afterwards | Free for the initial €500 deposited per month then 0.5% afterwards | 0.5% |
| Requests paid instantly via debit or credit card | 2.5% of the sum | 2.5% of the sum | N/A |
| ATM withdrawals | 10 withdrawals per month | 10 withdrawals per month | €0.99 per withdrawal |
| Fee for exceeding €100,000 account balance | €0.03 per day for each €1,000 | €0.03 per day for each €1,000 | €0.03 per day for each €1,000 |
Verdict
bunq offers innovative accounts for those looking for different features from their bank. You can benefit from features that come standard with digital banks such as budgeting options and security tools, but you also get extra features such as the option of multiple bank accounts and an eco-friendly account option that can help you become CO2 free. While these are great features, make sure you are going to use and benefit from them before you sign up as there is no free bank account option.
How to sign up
You can open bunq if you reside in the EU or are planning on moving there. To sign up, head to the bunq website and then download the app. You’ll need to submit certain details about yourself and verify your identity.
Once your account is verified you can order three Maestro, Mastercard, or bunq travel cards. It usually takes between two and three working days for the bunq card to arrive.