Bunq Digital Banking
Bunq
Bunq is a Dutch bank based in Amsterdam. Founded in 2012 by Ali Niknam, the company has gone from being a disruptive Dutch startup to the second largest neobank in Europe. In 2021, the company raised €193m in Series A funding from investors like Pollard Street Capital – which put a €1.6bn valuation on Bunq’s business.
Reading time: 20 min
Last updated: April 1, 2026
Table of Contents:
Written by:
Dan Malone
At a Glance:
Bunq is Europe’s 2nd largest neobank with a strong Irish presence.
All Bunq banking plans come with more than one Irish IBAN.
The bank is best known for its budgeting tools, competitive student offering and user-friendly app.
Bunq Pro is our pick for the best all-rounder plan offered by the bank.
Is Bunq Safe for Irish Customers in 2026?
Bunq is a fully regulated Dutch bank making it perfectly safe for use. The company is supervised by De Nederlandsche Bank (DNB). DNB is the Central Bank of the Netherlands. When Bunq became regulated in 2014, they were the first bank in 35 years to receive an EU banking licence.
Since then, Bunq has expanded its business into 30+ countries, serving more than 20 million customers who entrust the bank with over €15 billion in deposits. As an EU-regulated bank, deposits held with Bunq are fully protected and guaranteed by the Dutch State up to €100,000 per depositor. This is the Dutch Deposit Guarantee Scheme (DGS), equivalent to the Irish Deposit Guarantee Scheme limit, but administered in the Netherlands.
How Secure Is Bunq?
| Security Feature | Available on Bunq? |
|---|---|
| Two-Factor Authentication (2FA) | Yes |
| Biometric Login | Yes |
| Auto Logout | Yes |
| Spending & Withdrawal Limits | Yes |
| Freeze Card | Yes |
| Rotating CVC | Yes |
| Localised Card Protection | Yes |
| Single-Device Session | Yes |
| Delayed Payments | Yes |
| Auto Accepted Card Payments | Yes |
| Auto Accepted Direct Debits | Yes |
| Auto Accepted Contact Requests | Yes |
| Blocked Card Payments | Yes |
| 3D Secure (3DS) | Yes |
Bunq requires customers to verify their mobile device via SMS and to set a 6-digit PIN. This becomes the primary device for the account. When you log in from a new device, the app needs to re-check your biometrics. It compares a scan of your face to the identity document you provided when you signed up. Customers can only log into Bunq on one mobile device at a time, preventing simultaneous unauthorised access.
The app supports biometric logins and transaction approvals, via FaceID and TouchID, for extra security. Spending limits can be set to prevent unauthorised withdrawals, with high-value transactions requiring biometric confirmation.
In addition, within the ‘Card Settings’ section of the app, Irish customers can access a wide range of Bunq security features including daily spending limits, daily ATM limits, localised card protection and more.
Customer Support
Like most neobanks, Bunq uses 24/7 AI chat support as a first line of defence for customer queries. Irish customers can also make use of Bunq’s SOS support chat where a Bunq employee will reply to your query within 10 minutes. Media can be shared via chat too to help explain the issue. For users on a Bunq paid plan, a 24/7 emergency support hotline is available where you can talk to a Bunq employee about your question.
How To Open A Bunq Account (Est. Time: 5 Minutes)
Bunq has a very straightforward onboarding process. Once you download the app, you simply confirm your mobile number via SMS verification and you’ll gain access. Then, it takes just 5 minutes to complete the registration process which requires you to:
Confirm your account type: personal, business, joint or child.
Provide personal details: name, address, date of birth, email and accepted identity document (i.e. passport, national identity card, driver’s license or resident permit).
Biometric confirmation: verify your identity with a selfie.
When you sign up for a new Bunq account, you’ll be given a free 30-day trial of Bunq Elite.
Bunq Bank Account Features
Bunq has four plans - Bunq Free, Bunq Core, Bunq Pro and Bunq Elite. Here is a summary of the key features of each plan:
| Bunq Free | Bunq Core | Bunq Pro | Bunq Elite | |
|---|---|---|---|---|
| Pricing & Accounts | ||||
| Price per month | €0.00 | €3.99 | €9.99 | €18.99 |
| Student Discounted Price per month (Under 26) | €0.00 | €3.99 | €0.00 | €9.00 |
| Child Accounts (Under 18) | No | Included - Pro Features Free for Child | Included - Pro Features Free for Child | Included - Pro Features Free or €9 per month for Elite Features for Child |
| Joint Account | Invite needed from Bunq Core, Pro or Elite user | Included | Included | Included |
| Irish IBANs | 3 | 5 | 25 | 25 |
| Foreign IBANs | No | No | Yes | Yes |
| Customer Support | 24/7 Chat Support | 24/7 Chat and Call Support | Priority 24/7 Chat and Call Support | Priority 24/7 Chat and Call Support |
| Cards | ||||
| Physical Cards | No | 1 | 3 | 3 |
| Digital Cards | 1 | 1 | 25 | 25 |
| Funds Movement | ||||
| Bank Transfer Top Up | Free | Free | Free | Free |
| Apple Pay/Google Pay/Card Top Up | First €500 free per month, 0.5% thereafter (2.5% for non-EEA cards) | First €500 free per month, 0.5% thereafter (2.5% for non-EEA cards) | First €500 free per month, 0.5% thereafter (2.5% for non-EEA cards) | First €500 free per month, 0.5% thereafter (2.5% for non-EEA cards) |
| ATM Withdrawals | €2.99 per withdrawal | 5 withdrawals at €0.99 each per month, €2.99 thereafter | 6 free withdrawals per month. Following 5 withdrawals at €0.99, €2.99 thereafter | 6 free withdrawals per month. Following 5 withdrawals at €0.99, €2.99 thereafter |
| Payments | ||||
| Sending/Receiving Payments | Free | Free | Free | Free |
| Direct Debit | Free | Free | Free | Free |
| Instant Payments | Yes | Yes | Yes | Yes |
| Scheduled Payments (Standing Orders) | Yes | Yes | Yes | Yes |
| Payment Requests | Yes | Yes | Yes | Yes |
| Split Payments | No | Yes | Yes | Yes |
| Apple Pay/Google Pay | Yes | Yes | Yes | Yes |
| Sent Payment Requests, Paid by Card | 2.5% fee | 2.5% fee | 2.5% fee | 2.5% fee |
| Secondary PIN | No | Yes | Yes | Yes |
| Budgeting & Saving | ||||
| Insights | Yes | Yes | Yes | Yes |
| Round Up | No | No | Yes | Yes |
| Income Split | No | No | Yes | Yes |
| Spending Limits | No | No | Yes | Yes |
| Easy Budgeting | No | No | Yes | Yes |
| Interest | 2.01%/1.51% | 2.01%/1.51% | 2.01%/1.51% | 2.01%/1.51% |
| Foreign Currency & Travel | ||||
| Foreign Currency Account | Yes | Yes | Yes | Yes |
| Card Payment (With Currency Conversion) | Real exchange rate + 0.5% markup on the first €1,000 per year. After that, the fee is 1.50% of transaction amount | Real exchange rate + 0.5% markup | Real exchange rate + 0.5% markup | Real exchange rate + 0.5% markup |
| Converting Currencies (In-App) | Real exchange rate + 0.5% markup | Real exchange rate + 0.5% markup | Real exchange rate + 0.5% markup | Real exchange rate + 0.5% markup |
| Weekend Foreign Currency Exchange | 0.15%-0.50% markup | 0.15%-0.50% markup | 0.15%-0.50% markup | 0.15%-0.50% markup |
| Outgoing Non-Euro Bank Transfer (Without Currency Conversion) | Transaction Fee | Transaction Fee | 5 free transactions per month, Transaction Fee thereafter | 10 free transactions per month, Transaction Fee thereafter |
| Outgoing Non-Euro Bank Transfer (With Currency Conversion) | Transaction Fee plus real exchange rate + 0.5% markup | Transaction Fee plus real exchange rate + 0.5% markup | Real exchange rate + 0.5% markup plus 5 free transactions per month, Transaction Fee thereafter | Real exchange rate + 0.5% markup plus 10 free transactions per month, Transaction Fee thereafter |
| Incoming Non-Euro Bank Transfer (Without Currency Conversion) | Transaction Fee | Transaction Fee | Transaction Fee | Transaction Fee |
| Incoming Non-Euro Bank Transfer (With Currency Conversion) | Transaction Fee plus real exchange rate + 0.5% markup | Transaction Fee plus real exchange rate + 0.5% markup | Transaction Fee plus real exchange rate + 0.5% markup | Transaction Fee plus real exchange rate + 0.5% markup |
| Travel Insurance | No | No | No | Yes |
| eSIM | Yes | Yes | Yes | Yes - 8GB Free Worldwide Data per Year |
| Other Features | ||||
| Wheel of Fortune Spins | Yes - Bar & Restaurant Payments | Yes - Bar, Restaurant & Grocery Payments | Yes - Bar, Restaurant & Grocery Payments | Yes - Bar, Restaurant, Grocery & Travel Payments |
| Switching Service | Yes | Yes | Yes | Yes |
| Freedom of Choice (Lending) | Yes | Yes | Yes | Yes |
| Outgoing - EUR, USD, GBP | €0.70 |
| Outgoing - SEK, NOK, DKK, PLN, AUD | €1 |
| Outgoing - CZK, RON, HUF, CAD, IDR, INR, MXN, MYR, SGD, HKD, HRK | €3 |
| Outgoing - PHP | €6 |
| Outgoing - SWIFT | €5 |
| Incoming - SWIFT or Wire | €5 |
| Incoming - non-SWIFT | €0.70 |
Irish IBANs
You might be wondering why Bunq gives you more than one Irish IBAN. Having multiple IBANs means having multiple bank accounts, all under the one roof. The beauty of this is that you can have a dedicated bank account for different categories of transactions, allowing you to budget more effectively. For example you could have separate accounts for:
Rent, Utilities and Insurance (3 IBANs).
Groceries, Transport and Eating Out (3 IBANs).
Emergency Fund, Summer Holiday, Christmas, New Car or Renovation (5 IBANs).
Streaming Services, Gym Membership, Cloud Storage (3 IBANs).
Bunq Pro and Elite can facilitate up to 25 Irish IBANs, while Bunq Core and Bunq Free offer 5 IBANs and 3 IBANs respectively. The more IBANs you have, the more precise your budgeting becomes.
Adding new accounts on Bunq is easy. On the ‘Home’ screen, click “Add an Extra Bank Account”. What you’re looking for is another ‘Personal’ account, but this is also where you can create joint, kids, business and foreign currency accounts too. You can then name your bank account (i.e. Groceries) and assign it a colour and a logo.
Bunq Budgeting Features Explained
Great budgeting tools are so much more than a ‘nice to have’. They can provide real savings over time by promoting good money habits. The less manual money management you have to do, the better - Bunq solves this for Irish customers.
What Bunq Pro Includes
Beyond the 20 extra Irish IBANs you get with Bunq Pro, the main value of this plan lies in its automation features. Bunq Pro gives Irish customers access to:
Easy Budgeting: assign expenses to different sub-accounts.
Auto-Select: AI-powered card spending that recognises expense types.
Income Splitting: automatically sort your income on pay day.
Spending Limits: take control of your spending by setting category limits.
Round Up: save as you spend by rounding up to the nearest euro.
It’s important to understand each of these features in order to get the most out of Bunq.
Go into any of the custom bank accounts that you’ve created and click the settings icon in the top right-hand corner. Select ‘Easy Budgeting’ and then enable it. Next, head into ‘Categories’. This is where you need to tell Bunq what type of expenses should be deducted from this account's funds. For example, if you’ve selected your account for groceries, choose ‘Groceries’. Next time you use your card for groceries, Bunq’s AI will recognise the transaction type and pull the money from that account.
In the ‘Amount’ section, you can tell Bunq how much money you want available in that specific account for the month. But you need to decide where that money will come from. Under ‘Budget’, you have three options:
‘From My Salary’ - automatically top up the account when your salary arrives
‘Monthly’ - automatically top up the account from another account on a particular date in the month
‘One-off’ - manually top up the account for a once-off event, like a music festival, holiday or Christmas.
When you choose an automatic top up method, any budget that isn’t spent at the end of the month can either be kept in the account, moved to another expense account or saved. If you choose to keep the balance in the account, only the difference between your monthly budget and the remaining balance will be topped up.
Go to the ‘Cards’ tab. For your primary physical card, set ‘Pay From’ to ‘Auto Select’. When you spend with your card, Bunq’s AI will automatically take the money from the correct account based on the transaction category. For example, if you paid for your groceries with your card, the money would be pulled from your Groceries account.
Key Insight: On Bunq Free and Bunq Core, ‘Auto Select’ isn’t available, so you’d need to manually link the card to the correct account before spending. This is a key value-add of Bunq Pro.
Auto Select works on foreign currency accounts too. For example, if you use your card to pay for something in GBP, Auto Select will take the money from your GBP account if you have one. If you don’t have one, it will use the most appropriate EUR account for the transaction depending on its category i.e. grocery, entertainment etc.
Bunq allows you to automatically organise your income so that every time you get paid, you can split that money between your budgets, savings and investments. When your first salary arrives in Bunq, tap on the transaction and select ‘Organise’. Then you’ll see the list of accounts that you’ve created. You can choose to split the salary payment by percentage (best if your income varies) or by a fixed amount (best if your income is consistent).
Once you set up automatic organising, Bunq remembers your employer’s name. Next month, your salary will be sorted into the accounts that you selected. This feature can be used on any recurring income you may receive, salary or otherwise. You can edit your income splitting at any stage. On the ‘Home’ tab, click into ‘Net Wealth’ and scroll down to ‘Organise Your Income’.
On the ‘Home’ tab, click into ‘Net Wealth’ and swap to the ‘Insights’ tab. Here, you’ll be able to set spending limits for each category. These can be the default categories provided by Bunq or custom categories that you create. For example, if the default ‘Entertainment’ category feels too broad, you can choose a specific transaction, like a cinema ticket purchase. Then create a new custom category specifically for ‘Cinema’. Bunq’s AI will then recognise any future spending on cinema trips and assign it to this category.
You can set a monthly spending limit for the category. Bunq will send you push notifications when you’ve reached 80%, 95% or 100% of your budget. This way, you’ll always know where you’re at relative to your goals.
Key Insight: Remember, a dedicated bank account can be created for any category. This allows you to ensure that the funds used for a particular transaction (i.e. a cinema visit) are drawn from the correct account (i.e. a cinema account).
Bunq has an Auto Round Up feature that allows you to proactively save or invest as you spend. On the ‘Home’ tab, click into ‘Net Wealth’ and scroll down to ‘Auto Round Up’. By clicking the settings wheel, you can choose to enable Auto Round Up. If enabled, you can choose to round up your purchases to the nearest €1, €2 or €5:
- Nearest €1: Buy a coffee for €2.80, it rounds to €3. You save €0.20
- Nearest €2: Buy a coffee for €2.80, it rounds to €4. You save €1.20
- Nearest €5: Buy a coffee for €2.80, it rounds to €5. You save €2.20
You can choose from which accounts you want transactions to be rounded up. Then, you can tell Bunq to either place the rounded up amount into a savings account or, alternatively, invest it into a stock, ETF or cryptocurrency.
What Else Is Included with Bunq?
To set up a direct debit on Bunq, you should first decide from which account the payment is to be made. For example, if you’re setting up a direct debit for electricity, internet or bin collection, you may give the merchant(s) the IBAN connected to your monthly bills account on Bunq. The same concept applies to rent and other monthly outgoings.
Once you receive the direct debit request from the merchant, you have three options:
- Accept Once: only this month’s payment will go through.
- Always Accept: every future bill from the merchant will be paid automatically (i.e. classic direct debit)
- Decline: the payment is blocked.
If you choose ‘Always Accept’, Bunq will allow you to set a maximum limit that can be processed automatically via the direct debit with that particular merchant. For example, if the limit is set at €200 and the merchant tries to take €250, Bunq will block the transaction and ask for your approval. Direct debits can be managed by going Profile > Settings > Security > Direct Debits.
Key Insight: If you want to set up a standing order instead of a direct debit, select the bank account that you wish to pay from, go into settings and click ‘Scheduled Payments’. You’ll be able to set an amount, recipient, payment date and how often the transfer should recur.
To remove some of the guesswork to be done by Bunq’s AI, you can use some or all of your 25 digital cards included under Bunq Pro for specific recurring transactions. For example, you could have one digital card that’s linked to streaming subscriptions, one that’s linked to travel etc.
For these cards, you wouldn’t use Bunq’s ‘Auto Select’ feature for payment. Instead, you’d set ‘Pay From’ to the specific account intended for the recurring transaction i.e. ‘Subscriptions’, ‘Travel’ etc. This ensures that the money always comes from the correct account.
Another great use case for Bunq’s digital cards is for once-off online transactions where you’re concerned about the safety of the website. You could complete the purchase with a fresh digital card and then rotate the CVC or delete the card entirely afterwards, making it useless for scammers (i.e. a burner card).
If you wish to be notified when the balance of a particular account is low and due for a top up, you can do this by enabling a ‘Refill Notification’ on the account. Go into the settings of any of your accounts and click ‘Refill Notifications’. Once turned on, you can tell Bunq to send you a push notification when the account balance falls below a certain amount. You can then choose by how much the account should be topped up by. Once the notification appears, you’ll need to select a source for the top up funds.
Bunq offers an instant access savings account with a variable rate on all plans. The annual equivalent rate (AER) is 2.01%. It’s important to understand the ‘Bunq Threshold’ for calculating interest on savings.
When you open a Bunq account your threshold is set at €0. This means that all of your savings will earn 2.01% interest. A new threshold will be set on two dates every year - July 1st and January 1st. The new threshold will be the highest balance that was in your savings account between:
- January 1st - June 30th: this is the July 1st threshold
- July 1st - December 31st: this is the January 1st threshold
Once your threshold is set for a 6 month period, you will only earn the 2.01% AER on savings above the threshold. Amounts below the threshold will earn 1.51%. You can make two withdrawals per month from Bunq’s instant access savings account.
Separately, Bunq offers fixed term deposit accounts where you can receive a guaranteed rate of interest on your savings for an agreed amount of time in return for locking away your cash for that same period:
- 3 Months: 1.76% AER
- 6 Months: 1.86% AER
- 12 Months: 2.11% AER
- 24 Months: 1.91% AER
If you withdraw your money early from a Bunq fixed term account, you’ll be charged 1% of your deposit for every year left in the term as a penalty (maximum 6%). Terms shorter than 1 year are counted as a full year for the first 1% charge. The charge will not apply where the withdrawal arises due to death, disability, unemployment, debt restructuring or a voluntary debt settlement.
Important: Bunq customers earn interest on total savings up to €100,000. This means that if you’ve got €70,000 in your regular savings account and €50,000 in a term deposit account, you’ll only earn interest on €100,000, not €120,000.
Bunq will prioritize paying you interest on your fixed term deposits first. In the above example, you’d earn the fixed rate on €50,000 and the variable rate on €50,000, not €70,000.
Bunq offers a promotional ‘Wheel of Fortune’ which rewards card spending with ‘spins’ where you can win up to 10x your money back. The more you use your Bunq card, the more spins of the wheel you’ll get, subject to terms and conditions. Prizes include:
- Win 10x, 1x, 0.5x, 0.25x, 0.1x or 0.01x of your card payment, subject to a maximum reward of €2,000
- Plant 1, 5, 10 or 100 trees
- A bonus spin
Your Bunq plan will determine which card transactions earn you spins:
- Bunq Free: bars and restaurant payments*
- Bunq Core & Pro: bar, restaurant and grocery payments*
- Bunq Elite: bar, restaurant, grocery and travel-related payments*
*Bunq identifies these transactions through merchant codes assigned by Mastercard
On the ‘Home’ tab, click the clover icon in the top right corner to access the Wheel of Fortune. If you invite a friend to join Bunq, you’ll both receive 100 extra spins. Spins expire weekly and must be used before Sunday 23:59 local Irish time.
Our Recommendation
Bunq Pro
Bunq Pro is the best value-for-money plan offered by the bank. At €9.99 per month, it gives you:
- Best-in-class budgeting tools including Easy Budgeting and Income Splitting
- 25 Irish bank accounts in one
- 25 digital cards
- 6 free ATM withdrawals per month
- 5 free non-Euro bank transfers per month (excl. 0.5% currency conversion fee)
- Plus everything included in Bunq Free and Bunq Core
Pro Tip: If you keep at least €11,862 in a Bunq savings account, you’ll fully cover the cost of your monthly Bunq Pro subscription with the after-tax interest that you earn.
Other Options
Bunq Free is a good option for a no frills, digital-only banking experience where you don’t require advanced budgeting tools or multiple bank accounts. However, if you want a physical debit card or plan on withdrawing cash from an ATM, you’re likely going to be better off upgrading to Bunq Core at a minimum. Plus, Bunq Core opens up joint and children’s accounts for families. Bunq Elite is only worthwhile if you travel enough to make use of the global mobile data and travel insurance that’s included in the plan.
Bunq Pack Pricing
Bunq Pack is a plan bundling discount that’s available to Irish customers. This can be a great way for friends and family to open multiple Bunq accounts at a discount of up to 30%. Only the owner of the Bunq Pack will be billed. For €28.99 per month Bunq Pack offers:
- Up to 4 personal Bunq Pro plans or
- Up to 3 personal Bunq Pro plans and 1 business Bunq Pro plan
Bunq Frequently Asked Questions
With Bunq Pro, you can get as many as 25 Irish IBANs. Every Bunq plan starts with at least 3 Irish IBANs.
Yes, when you open a Bunq account you’ll be given a free 30 day trial of Bunq Elite. This is helpful for seeing the best of what Bunq has to offer with no financial obligation. You’ll also be able to order a physical card for free with your Elite trial.
Yes, but there’s an annual charge of €9.99 if the card is kept active on the free plan. Plus, ATM withdrawals will cost you €2.99 per transaction. In practice, if you wish to keep your card active, you’re better off upgrading to a paid plan.
No, the foreign currency accounts on Bunq are e-money accounts held with Currencycloud. They are not protected by the Dutch Deposit Guarantee Scheme like regular Euro accounts. Your money is still protected, via asset segregation, but there is no Government guarantee.
Yes, Bunq is a highly competitive option for students in Ireland. Students can get Bunq Pro for free, which is an incredible offer. You get all of Bunq’s budgeting tools, 6 free ATM withdrawals per month and 25 Irish bank accounts at no cost. Plus, Bunq Elite is only €9 per month and offers free travel insurance and global mobile data, ideal for travelling students.
Yes, joint accounts and children’s accounts are available to Bunq customers who are using Bunq Core, Bunq Pro or Bunq Elite.
Yes, you can absolutely get your salary paid into Bunq. Bunq Pro users can even choose to automatically split their salary into different sub-accounts within Bunq once it’s received i.e. rent, groceries, utilities, savings etc.
Yes, Bunq is perfectly safe. It is a fully regulated Dutch bank with over 20 million customers. Customer deposits are protected up to €100,000. Plus, Bunq offers significantly more advanced digital security features than the Irish banks, focusing on proactive rather than reactive security.
Bunq offers a dual or secondary PIN for your physical card. This lets you assign two PINs to a single card which can be useful for separating personal and joint expenses and/or business and personal expenses, to name but two use cases.
Yes, but not in the way you’d expect. While you can get a Bunq credit card, there is no ‘credit’ attached to it. It’s a credit card that operates like a debit card. This means you still need to have money in your account to spend. It’s designed to bypass merchants that require a credit card, like with car rental security deposits.
