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.
2.99 €
Management Fee
2.99 €
ATM Withdrawal
0%
Currency conversion Fee
Details
| Product Name | bunq Easy Bank Personal |
|---|---|
| Management Fee | 2.99 € |
| Card delivery | Up to working 10 days |
| Supported currencies | GBP, PLN, CHF, USD, BGN, EUR |
| Card Fee | 9.99 € |
| ATM Withdrawal | 2.99 € |
| International ATM Withdrawal | 2.99 € |
| Currency conversion Fee | 0% |
| Free ATM Withdrawal Limit | N/A |
| Mobile payments | Apple Pay, Google Pay, FitBit Pay |
| Card type | Mastercard |
| Go to site More Info |
How it works
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 Easy Bank, Easy Money and Easy Green.
The most affordable plan, Easy Bank, comes with a monthly maintenance fee of €2.99. For Easy Money, you’ll pay €8.99 a month or €17.99 a month for Easy Green.
Both the Easy Money and Easy Green 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, Easy Green, also allows you to offset your CO2 emissions by planting trees on your behalf.
Key features of bunq
bunq offers a wide array of benefits, such as:
- Fast and easy sign-up process
- 0.09% interest earned on your first €10,000 – paid monthly
- 4 withdrawals per month ATM withdrawals, after which it costs €0.99 each time
- Free local and regular payments
- Send money to 15 non-Euro currencies via Wise
- Up to 25 free sub-accounts, each with its own IBAN so you can quickly organise your money
- Three bank cards, including a Mastercard direct debit
- Apple Pay and Google Pay are both compatible
- Send funds to other bunq users, 24/7
- Make instant payments and easily organise batch payments
- Generate personalised payment links for people or companies who owe you money. They don’t need to be bunq customers.
- Bookkeeping and accounting apps to help automate your business finances, including VAT calculations
- Instant notifications to track each card payment, direct debit or other transaction
- Customer support via the app or email
bunq account options
bunq offers three personal accounts — Easy Bank, Easy Money and Easy Green.
Fees and limits
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.
| Easy Green | Easy Money | Easy Bank | |
|---|---|---|---|
| Monthly maintenance fee | €17.99 | €8.99 | €2.99 |
| 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 | First 4 withdrawals per month | 4 withdrawals per month | €2.99 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 |
The 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.
Experiences from other bunq users
bunq scores 2.4 over 5 based on 1,900+ reviews and is rated Poor on Trustpilot.
| User ratings | # of reviews | What do customers say |
|---|---|---|
| 2.4 / 5 | 1,918 |
|
*Note: Information provided is based on the reviews and rating on Trustpilot (11 May 2021).
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 place an order for any of your preferred bunq cards. It usually takes between two and three working days for the bunq card to arrive.