bunq
Ali Niknam bootstrapped the Netherlands' first new banking license in 35 years with his own money.
EU-wide; API-first; 'Bank of The Free'.
- Who holds it
- The company itself — it holds a full banking licence — Dutch banking license.
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from bunq’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| AI | AI assistant as the interface |
| HQ | Amsterdam, NL |
| Founded | 2012 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Dutch banking license |
| Card | MC · Debit |
| Cashback | 1% (plan) |
| Yield | Up to ~3.4% interest |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Europe |
| Countries | Netherlands, Germany, France, Spain, Italy, Belgium, Austria, Ireland, Portugal |
| Founders | Ali Niknam |
| Funding | Founder-funded (~€100M of Niknam's own) + raises |
| Services | fiat pay-in (bank rails) · fiat pay-out (bank rails) · own IBAN / account no. · multi-currency hold · virtual cards |
| FX markup | Mastercard rate + 0.5% up to €1,000/yr; 3% conversion fee above that (Free plan) (2026-07) · source ↗ |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @bunq ↗
Common questions about bunq
What is bunq?
bunq is a fiat neobank, headquartered in Amsterdam, NL and founded in 2012. Your money is held custodially, so bunq or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Dutch banking license).
Does bunq have a card, and where can you use it?
It issues a Mastercard debit card. It is available in 9 countries, across Europe.
Does bunq require KYC?
Yes. bunq requires identity verification (KYC) to open an account, as a licensed bank.
What does bunq cost?
From the verified fields: FX abroad — Mastercard rate + 0.5% up to €1,000/yr; 3% conversion fee above that (Free plan) (as of 2026-07); cashback 1% (plan); yield Up to ~3.4% interest. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with bunq before relying on them.
Early investors
Head-to-head
Peers
Monzo · Wise · Starling Bank · Atom Bank · Zopa Bank · Chase UK
bunq appears in
Neobanks that hold their own banking license (132) · Neobanks available in Europe (144) · Neobanks that issue a Mastercard (150)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.