What is Outgoing Switch Service?

Koen-Orange-Swan

Hey bunqers 🌈

As soon as you have submitted a Switch Service Request with another bank, that bank will forward your request to us. We will then verify that everything is in order. If everything is good the request will be accepted. You will then receive a message from us containing the date on which the service will be activated.

Your bunq account will remain active and will continue to function the same as before. After the activation date of the Switch Service you can expect the below things to happen.

Incoming Payments

Payments made from other banks to your bunq IBAN.

These payments will be automatically redirected to your other bank account and you will not see them in your bunq account. Payments made between bunq accounts (including connected aliases) for which you requested the Switch Service.
Each of these payments will show up in your overview twice. Once for the money coming into your bunq account, and again for the money being redirected to your other bank account.

Outgoing payments

You can continue to make payments with your bunq account. These will not be affected by the Switch Service.

Direct Debits

All Direct Debits will be automatically forwarded to your other bank account. Be advised: Some Direct Debits are submitted up to two weeks in advance. This means that they can still end up being paid with your bunq account up to two weeks after your Switch Service was activated.

My Account

The Switch Service will only affect the IBAN you submitted while making the request. Payments and Direct Debits coming in on any of your other accounts will not be redirected to your other bank.

Using your bunq card on a switched account

You can continue to make card payments with the switched account and they will be processed as usual. You will not see any of these transactions on your other bank.

Topping up a switched account

If, for whatever reason, you want to top up the bunq account for which you initiated the Switch Service, please take note that you can only do so with the bank account on the other side of the service. Payments made from the account on the other side of the Switch Service will not be bounced back.

Can I close my bunq account?

Yes - you can close your bunq account after your Switch Service has been activated, as the service will continue to function. We do recommend waiting at least two weeks in case of any outstanding Direct Debits.