Our full, unfiltered review of the new Bunq bank

Bunq: our opinion in brief

Bunq is a neo-bank that stands out from the competition above all because of its ecological commitment In fact, the brand is committed to plant a tree for every dollar spent . What's more, it offers its customers unique freedom to choose in which types of assets they wish their funds to be used.

In terms of rates, Bunq hardly stands out from the competition, as its pricing remains in line with the average of other banks. Also noteworthy is the travel insurance service that accompanies the premium offer.

Bunq: presentation

Bunq is a Dutch bank founded in 2012 by Ali Niknam . Its story has all the makings of a success story, as it obtained its banking license just two years after its creation. acquires unicorn status in 2021. Its professional offering only appeared in 2016 .

Present in France since 2018, it is now present throughout the European Union and in Norway and Iceland. In 2023, the company announces plans to enter the US market.

Bunq is characterized above all by its sustainable and ecological objective . The bank offers its customers the commitment to plant a tree for each level set according to the rate plan subscribed to. Customers can also choose to invest their money in environmental projects.

It falls into the neo banks . In other words, its services are essentially accessible via its mobile application.

Advantages of the Bunq pro account

Here are the main advantages of Bunq's pro account:

Avis Bunq: the mobile application

The Bunq mobile application offers a number of interesting features:

• Real-time account information . The customer receives instant alert notifications for every transaction carried out by a cardholder. In this way, the business owner retains effective control over payment cards issued to employees . Bunq allows the holding of 25 sub-bank cards.

• Real-time monitoring of company finances . The application's dashboard lets you organize your company's accounting in real time, or make forecast projections.

• Practical management tools. Bunq can be integrated with your usual accounting software.

• A fluid interface and easy handling . Bunq has focused above all on ease of use.

• All the practical features you need for fast transactions :

  • Opening an account

  • Send instant notifications

  • Ordering a credit card

  • Changing account settings

  • Etc.

• Accounting management functions :

  • Invoice scanning

  • Expense management

  • Manage user access to company accounts

  • Automated VAT rate processing

  • Etc.

An eco-friendly neo-bank

Bunq is a bank that prides itself on being ecological and environmentally friendly . It enables its customers to reduce their carbon footprint by committing to plant a tree for each spending level determined according to the rate plan subscribed to.

In this way, the bank undertakes to plant one tree for every 100 euros spent on Easy Bank Pro XL Business and for every 1,000 euros for other offers.

What's more, it also offers its customers the opportunity to choose the companies that their funds will help to support financially.

A multi-currency account

Bunq business lets you send and receive money transfers in over 40 currencies.

Mastercard credit card

Bunq gives you access to a physical Mastercard bank card starting with the free offer.

The neo-bank also offers free access to 26 virtual payment cards This is a significant advantage for companies with many employees. What's more, these cards allow unlimited payments in the euro zone.

Interest-bearing account

Bunq is one of the only neo-banks to offer remuneration on sums deposited in a business account. The 3 pay-as-you-go offers provide interest of 1.05% per annum up to a maximum of 100,0000 euros.

Interest is paid weekly.

Travel insurance with Easy Bank Pro XL Business

This feature is ideal for companies whose employees travel frequently.

And the drawbacks?

Here is an overview of the main negative points of Bunq business:

Lack of cheque and cash collection facilities

Bunq Business does not accept cheques or cash deposits.

Limited customer support

Bunq's customer service is accessible by email only . However, the platform does provide a Bunq Together community forum where users can help each other.

However, it is regrettable that there is no emergency contact number for the most urgent cases.

What about Bunq's tariff?

Bunq offers 3 price plans for businesses and professionals:

Easy Card Business

This is Bunq's free offer. It allows you to have a virtual card, suitable for payments via Google Pay, Apple Pay and Fitbit Pay. For a physical bank card, you have to pay 9.99 euros .

Payments within the euro zone are free, but foreign transactions are charged at 2% of the payment amount.

A flat-rate fee of 2,99 euros for each withdrawal, plus additional network charges at 0,50 % if made outside the euro zone.

The Easy Card Business offer includes 2 free outgoing transfers per month. Any additional transfers will be billed 13 centimes each.

It cannot be used for direct debits.

As part of its commitment to the environment, the neo-bank undertakes to plant a tree for every 1,000 euros spent.

Easy Bank Business

Billed 7.99 euros per month This offer is better suited to professionals who want to benefit from a more comprehensive range of services.

Withdrawal rules are identical to those of the Easy Card offer. However, fees for the first 5 withdrawals are reduced to 0.99 euro each. Above this threshold, they revert to 2,99 euros .

Transfers and direct debits, on the other hand, are billed at 13 centimes .

Easy Bank Pro Business

This is Bunq's flagship offer, with a monthly fee of 13.99 euros . It allows you to benefit from French IBAN (or Spanish, or German, Dutch and Irish).

It also makes it possible to combine 25 sub-accounts with their own IBAN and 3 credit cards.

Additional physical cards are available for a shipping charge of 9.99 euros and a monthly fee of 3.99 euros.

The Easy Bank Pro Business offer also includes a set of 26 virtual cards . Here, too, it is possible to add an additional set of cards for a fee. 19.99 extra per month .

Payments within the euro zone are unlimited and free of charge. For transactions abroad, you must pay 0,50 %.

Easy Bank Pro Business customers benefit from 6 free withdrawals per month. The account accepts direct debits and credit transfers, but does not accept cheques.

Easy Bank Pro XL Business

This offer costs 23.99 per month. It allows you to benefit from all the features offered by Easy Bank Pro Business, plus travel insurance.

In partnership with Qover, this insurance covers vehicle rental and cancellations, as well as medical emergencies.

With this offer, the bank undertakes to plant a tree for every 100 euros spent.f

Bunq's rates don't really stand out from those of its competitors. In fact, they are in line with the average for other banks.

Hero, the best alternative to Bunq

Launched in 2021, Hero is a relative newcomer to the French banking scene.

In fact, at the outset, it was primarily a payment solution aimed at micro and medium-sized B2B businesses.

Its professional account offer is brand new with the following features:

• Free account with 3 payment methods: direct debit, bank transfer and credit card

• Payment facilities such as deferred payment and instalments

• Financing solutions with electronic factoring . Hero takes the place of its customers by anticipating the payment of their supplier invoices. The latter are then responsible for reimbursing the platform.

In short, Bunq is a neo-bank appreciated by its users for its innovative offering and commitment to the environment.

However, its pricing remains uncompetitive compared with other banks. Hero, on the other hand, is a free account that combines business account and financing solution functionalities.