So you just moved to the Netherlands, and you need to sort out your finances. Picking and opening a bank account in a new country doesnโt have to be a hassle โ not with bunq, at least.
This Dutch bank is shaking up the banking and finance sector, so here are eight reasons why we believe bunq is the ideal bank for expats in the Netherlands.
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1. bunq is THE easiest bank to sign up to
bunq is a completely digital bank, so thereโs no need to go to a physical building โ which is incredibly convenient for digital nomads and people who often travel for work and school.
You can access all of bunqโs services on your phone from the comfort of your home, including signing up.
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You can set up your account with bunq in just a few steps, and while most Dutch banks wonโt let you sign up without a BSN (which can take weeks to get), bunq lets you open an account before you get this crucial number.
2. bunq offers different types of accounts for different needs
Whether youโre an expat with a family or an easy-going freelancer, bunq has all kinds of plans for your financial needs.
![Person-holding-phone-with-bunq-app-open-in-the-netherlands](https://dutchreview.com/wp-content/uploads/bunq-app-interface-1024x683.jpg)
The most common account, Easy Bank Pro, is perfect for users who want the best exchange rates, a local IBAN, and 24/7 online support โ for just โฌ9.99 per month.
Tip: bunq has four main types of accounts: Easy Savings, Easy Bank, Easy Bank Pro, and Easy Bank Pro XL. Each one has different perks and features, including access to physical and digital bank cards, ATM withdrawals, invoicing, and travel insurance, among other needs.
You can also open a subaccount to enjoy a high interest rate on your savings, now a whopping 2.46% in the Netherlands. Who doesnโt want to save a little extra money nowadays?
Speaking of extra money, letโs get to the good stuff: cashback! With an Easy Bank Pro XL account, you can get 1% cashback on restaurants and bars (perfect for that Dutch beer youโll be drinking) and 2% cashback on public transport. ๐ธ
3. You can pay for things abroad with a bunq account
bunq makes travel expenses a lot easier too. Offering both a debit or credit Mastercard, bunq makes sure youโll have worldwide coverage โ but whatโs the difference?
First, both Mastercard Debit and Mastercard Credit donโt offer spending credits, so itโs easy to keep track of the money coming in and out of your accounts.
You can access your Mastercard Debit easily via your bunq accounts, which makes it super easy to pay for things like meals and souvenirs when travelling abroad.
![Person-paying-for-coffee-with-mobile-phone](https://dutchreview.com/wp-content/uploads/person-paying-with-mobile-phone-1024x683.jpg)
Got a bigger travel expense coming up, such as a car rental or your hotel room? Then youโll likely be asked to pay a deposit ahead of time. Thatโs where your credit card comes in.
With your Mastercard credit card from bunq, you enjoy the full extent, perks, and acceptability of a normal credit card โ without the risk of accumulating debt. Win-win!
4. You can save money when exchanging currencies with bunq
Sending money home is a common thing to do when youโre living and working abroad. Luckily, transferring money has never been easier.
Currently, bunq allows you to send money in 39 different currencies without charge. The only thing you need to take into account is the real exchange rate.
![photo-young-man-holding-bank-card-receiving-international-money-transfer-from-laptop](https://dutchreview.com/wp-content/uploads/fast-international-money-transfers-to-and-from-the-netherlands.jpg)
You can save up to 3% on each transaction, which is perfect for someone who travels a lot or needs to transfer money often.
5. bunq’s app and customer service operate in seven languages
When it comes to complicated questions about your finances, you want to be able to understand everything clearly.
Thatโs why bunq offers you the ability to read their website and operate the app in seven languages: English, French, Spanish, Italian, German, Portuguese and, of course, Dutch.
If you need help from bunqโs customer service team, you can also talk to them in any of the seven languages above.
Tip: If you would rather talk to someone in a language other than the seven offered in the app, that’s also possible. The customer service chat feature is enabled through Google Translate, so you can get your questions answered and problems solved in a language you’re comfortable in.
6. You can plant trees by spending money with bunq
People are becoming more conscious of the environment, and it is especially important for us to try to lessen our impact on the climate. bunq allows you to do just that.
READ MORE | How do the Dutch feel about climate change?
By simply spending money with bunq, you contribute to a greener planet. How so, you ask? Well, for every โฌ100 you spend with your Easy Bank Pro XL account, bunq plants a tree. ๐ณ
![bunq-graphic-plant-trees-by-spending-money-with-bunq](https://dutchreview.com/wp-content/uploads/bunq-graphic-plant-trees-by-spending-money-with-bunq-1024x441.jpg)
(Weโre not encouraging financial irresponsibility, of course โ but even if youโre bad with money, you wonโt be bad for the planet with your Easy Bank Pro XL account. ๐)
Donโt have Easy Bank Pro XL? No worries! bunq also plants one tree for every โฌ1,000 spent with any other subscription.
It wonโt singlehandedly save the planet, of course โ but luckily, bunq also lets you choose how the companyโs money is invested. No coal mining or gambling companies? No problem!
7. bunq will help you with fraud detection and resolution on-the-go
Itโs basically everyoneโs worst nightmare to realise youโve lost your bank card or that youโve been the subject of fraud.
With bunq, itโs easy to protect your money. If you realise you left your card in a restaurant or shop, then you can instantly freeze it on the app โ no need to make calls and listen to Muzak hold music.
Even better, bunqโs optional localised card protection feature gives extra protection by only letting card payments be authorised if they happen within a 100-kilometre distance of your device.
![Man-working-on-laptop](https://dutchreview.com/wp-content/uploads/Man-working-on-computer-1024x683.jpg)
You can also opt to get a notification each time your card is used so that any suspicious payments will be obvious to you instantly.
8. You can get travel insurance for you and your family
Travelling is great โ but itโs even better when you can enjoy it knowing youโre insured if anything should go wrong. With bunq, you can do just that.
With an Easy Bank Pro XL subscription, you can take advantage of bunqโs travel insurance of up to โฌ2,500,000.ย
The best part? If youโre travelling with your family, the insurance applies not only to you but also to your loved ones who are joining your adventure. Does it get any better than this? We think not.
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To be eligible for this perk, you must:
- Have an Easy Bank Pro XL subscription;
- Not be travelling against medical advice;
- Be under 75 years old at the start of your trip; and
- Comply with the requirements of your public transport carrier while travelling.
Ready for bunq? Here are your account options
Everything about bunq feels like the future. If you’ve decided that this is the bank for you, then all that’s left to do is to decide what sort of account you want with them.
![Freelancer-handling-his-finances-from-home-in-the-netherlands](https://dutchreview.com/wp-content/uploads/Man-standing-in-kitchen-1024x683.jpg)
bunq for the people
A personal account at bunq has loads of advantages, but the two that stuck out to us were the high-interest rates you get on your money โ up to nine times what you get at other banks, paid monthly.
On top of that, bunq only invests ethically, so your money won’t end up funding climate change.
![Couple-looking-at-their-finances-on-bunq](https://dutchreview.com/wp-content/uploads/couple-looking-at-finances-on-bunq-1024x683.jpg)
You can have up to 25 sub-accounts so you can save money for a house, that trip abroad, or plane tickets to see your family.
bunq for businesses
bunq does also have options for business bank accounts if you want to get extra perks for your company or freelance business, or if you just want to keep your business expenses on a separate account away from your personal finances.
READ MORE | ZZP? The ultimate guide to being a freelancer in the Netherlands in 2023
Say goodbye to confusing jargon and language barriers! Equipped with a simple, sleek interface, innovative features, and an easy-to-use banking system, bunq is the perfect bank for anyoneโs financial needs. Now go forth with a new sense of financial freedom!
Have you used bunq before? Tell us about your experiences in the comments below.
My experience with Bunq has been far from stellar: clumsy registration process (especially the documents upload part), unresponsive client support which was closing my tickets without explanation. I’m probably one of the few who had those issues, but I’ll definitely not rely on them as I don’t feel safe putting my money on a Bunq account.