Have you run into debt? Then the money on your bank account may be seized.
A judge can rule that the money on your bank account must be used to pay off your debt. bunq is obliged to comply through a garnishment process. Garnishments are levied by a bailiff and not by bunq.
Seizure
When we first seize your funds, it is after a creditor has initiated this process with the authorities. We transfer the funds into an internal bank account. In this account your money is reserved for the bailiff. After this, you will regain full access to your bunq bank account.
Statement
The law states that bunq must wait for 4 weeks after the seizure of your funds, during which time the bailiff is provided with a statement of how much money was in your account at the time of the garnishment.
Transfer
After receiving the statement, the bailiff tells us the exact amount that is owed and we transfer the amount to the bailiff. The bailiff then sends the money to the creditor and the garnishment process is completed.
Is your money yet to be released after the garnishment period has passed? Please let our team know at support@bunq.com.
If you want to dispute this process or disagree with it, you can appeal to your local bailiff regarding this matter.
Want to read bunq’s terms & conditions?
Find more information on this link.
