Dutch neobank bunq has continued its expansion and officially launched in the UK.
The move follows launches in Germany, Austria, Italy, Spain, France, Ireland and Belgium.
bunq offers customers in the UK several services. bunq Premium is a mobile experience with up to 25 fully functional Euro bank accounts as well as Maestro and Mastercard debit and credit cards. Users choose where their funds are stored and how they are used.
In addition, consumers can utilise a bunq Travel Card, which calculates the true exchange rate on purchases in foreign currencies. This results in savings of up to 3% for customers. Furthermore, Travel Card is a credit card and can be used for hotels and rental services. The Mastercard credit card allows users to do this with no risk of overdraft. The Travel Card has no monthly costs and can be gained with a one-time fee.
“We’re very excited to launch in the United Kingdom. In true startup spirit we’re keen to learn how to make life easy for our British users,” said founder and CEO Ali Niknam.
By officially launching in Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, the United Kingdom and non-EU countries Norway and Iceland, bunq is now active in 30 European markets.
bunq brands itself as the “Bank of the Free”. The Dutch start-up wants to be a bank that makes life easy.
bunq was founded in 2012 by Ali Niknam, who managed to get the first European banking permit in over 35 years. He set out to change the traditional banking industry and, as its sole investor, invested €44.9m in bunq. bunq’s latest publicly available number of user deposits is €211,152,900, based on the deposits in December 2018. Over 2018, the deposits doubled and the bank states that it is increasing every day.