Who can open a bunq Business account?

Elise

Hey bunqers 🌈 ,

Your safety and well-being are our priority. We have an acceptance policy in place to abide by legal regulations and follow some of our own risk standards as a bank.

Here are the basic conditions you need to meet in order to open a bunq Business account:

You’ll need a verified Personal account with bunq before opening a Business account. New users can open both accounts simultaneously during signup. More details can be found here*
All company directors must be 18 years or older.
Your business needs to be legitimate and registered in one of the following countries: the Netherlands, Belgium, France, Germany, Austria, Spain, Italy, Ireland, or Portugal.
You must live permanently in the country where your business is registered.
Your business must operate under a legal form that bunq accepts. [Find the full list here].
Your company’s structure and activities must meet bunq’s requirements. You can find more details on this below.
Each business organization can only have one business account with bunq.
If your company operates under multiple trade names (all registered under the same Chamber of Commerce number), you can easily open separate bank accounts for each name.
Every layer of your company must be registered as an active legal entity with the Chamber of Commerce (Kamer van Koophandel).
You cannot open a Business account if any UBOs or non-executives reside outside the EEA.
If your company is facing pending bankruptcy, you won’t be eligible to open a Business account.
The documents needed for approval may vary based on your business type or if you're a freelancer.

* Note: Your Personal account can be on our free of charge bunq Free plan. You’re free to choose any available plan for your Business account, no matter which plan you have for your Personal account.

Why was my company denied?

Here are some of the possible reasons for your Business account to be denied:

One of the company directors is insolvent, a minor or has been blocked;
The director or company is a confirmed for Politically Exposed Person (PEP) or Special Interest Person (SIP);
Company is a trust office NL;
Your company is inactive according to the Chamber of Commerce;
The company has a “Stichting” in the upper layers;
The company has more than 4 layers;
The company has foreign entity in the structure (eg. NL company with DE company above);
The company has Vennootschap Onder Firma (VOF) as upper layer;
The company has Stichting Administratiekantoor (STAK) in the structure;
The company is Stichting and has Besloten Vennootschap (BV) as upper layer;
The company is managed by Stichting;
The company has Stichting Derdengeld in the upper layer;
The company is Vennootschap Onder Firma (VOF) and has Stichting as upper layer;
The company is Vennootschap Onder Firma (VOF) and has VOF as upper layer;
The company is Vennootschap Onder Firma (VOF) with only 1 partner;
The company is Maatschap with Stichting as a partner;
The company is Maatschap with BV as a partner;
The company is Vereniging with Stichting as a partner;
The company is Vereniging with BV as a partner;
The company is Gesellschaft mit beschränkter Haftung (GMBH) with foreign entity in upper layer;
The company is Gesellschaft mit beschränkter Haftung (GMBH) with more than 2 layers;
The company is German with unsupported company structure;
The executive opening the account isn’t an authorized representative;
Your French company is confirmed liquidated/insolvent via infogreffe;
We discover fake Identification Documents (IDs) of the directors or Ultimate Beneficial Owners (UBOs);
The company performs unsupported crypto-currency activities;
The company has high risk information for transactions and activities during signup;
The Enhanced Due Diligence check shows high risk score for your company;
The Enhanced Due Diligence check shows high risk information discovered online;
The director is under garnishment;
The company executive opening the account doesn't reside in the same country as the company;
The company director is under legal guardianship;
The company doesn't cooperate and provide the requested information we’ve asked for during the signup process.