Do they do overdrafts?
Yeah, I was put off by that.
Does that Netherlands have a culture of paying for banking, I wonder?
Bunq is a scam.
No other way to describe it.
I have reviewed the account. It is not clear you are signing up for a premium service when you order the card. They get around this making the first month a trial period.
I actually have an invoice for the card which was invoiced at €0.00.
The premium invoice was sent via an in app message several days later.
They refuse to refund the amount because I made use of “premium features.” The only premium feature I used is their bank card, which I was invoiced at €0.00.
I agree, It’s completely not clear it will cost. I did, however, cancel the premium account straight away, after ordering the card, never intending to use it until I needed it.
Foolishly I put the activation code in though, which restarted the premium account!
Bunq is good, I suppose, if you spend a load of time on the continent but I would guess for the average UK user, the monthly fee far outweighs the benefits. Shame, because the app is genuinely great and there are some great ideas
Yeah I love the concept of Bunq, and have just signed up and ordered a card.
The first time I realised there is a cost was following sign up, the app shows “Visit Together”, (the Bunq community), with a recent post of “Is Bunq a Scam” (due to hidden pricing).
So will see during the first month. If I found this 2 years ago I’d be all over it as I used to go to the Netherlands quite often - and didn’t have a Mastercard at the time either…
Do like the vertical card though - and the multiple accounts bit is intriguing.
I downloaded Bunq because I wanted to take a look at it, and I agree it does seem very scammy.
I’m not planning on putting any money in there, so god help them if they try and charge me. I want to close the account, but can’t because I apparently have ‘active cards’ on the account…
deactivate the cards and then close the account
if that is the case a Maestro card is a good option rather than Mastercard Debit due to it’s higher acceptance rate in the Netherlands
I recently tried bunq as an alternative to my traditional Dutch bank account. The experience makes me appreciate Monzo’s unobtrusive and clear communication in comparison. bunq’s branding annoys me - if I wanted to spend my days looking at clip art i would just install a 90s era version of Microsoft Word.
Others have already mentioned the unclear pricing for the premium account. bunq also opts you into their (frequent) promotional e-mails, some of which can only be opted out of by contacting their support chat.
After many many emails and days of communications they finally reversed the charge.
I was gobsmacked at a bank that is meant to be regulated, refused to escalate my complaint after we had reached deadlock. We’re only talking €8. But I certainly would not trust them with large amounts of cash or serious banking as their support and complaints procedure is the worst I’ve come across.
Their site publicity is all about ‘no surprises’ etc. I seem to remember. It doesn’t sound like they quite lived up to that then.
There has been a lot of chat on their forum about the problems with the Premium trial month, so they must be looking at this generally.
It’s actually a very generous trial, because they let you keep any accounts you have created during the trial month.
Exciting times, huh
TranswerWise seems to be looking for dominance over challenger banks
This should make the bunq card a bit more attractive to UK users
N26 Discussion & Feedback
It won’t because of the 7.99€ fee. I’m not in euro countries enough to bother with that. I’ll just take cash out over maintain an account with them, as I’m sure most people in the UK would.
I said “a bit more”
They’ve said explicitly they’re not trying for UK customers anyway, which is a shame
Pretty sure having a card doesn’t require payment in most euro countries besides Germany
PM me with a phone number if you want to get 10 Euro signup bonus the first time you use the card.
Remember, first month you get premium for free - just remember to cancel before the end of the month, if you don’t want premium…