I received a notification today: Bunq had some questions.
So I tap the notification, the Bunq app opens and I’m facing a bunch of KYC (know your customer) questions.
Of course the questions themselves are not a problem. Bunq has a legal obligation to keep track of these things.
However.
Nowhere did it mention what account the questions were referring too. I have both a private and a business account with Bunq and the answers to the questions would of course be different.
Fortunately they do provide a “I’ll do it later” option which allowed me to bail out and look around the in the app to see which account the questions applied to.
IDEA #1: please mention the account name at the top of the questionnaire. Ideally on every single page for reassurance. The answers potentially have legal consequences, so it should not ambiguous what’s being asked.
For my second part: the questions lack options or clarifications that the typical entrepreneur person would need for their private account.
I selected salary as my primary source of income. As that’s how I perceive and use it in daily life. But every few years I’ll pay myself a dividend that potentially dwarfs several years of salary.
The same goes for the expected balance. I usually keep it below 10.000 as I like to have my money used or invested. But after such a dividend payment it can take a few months for me to move everything in place.
Once you select salary as a source of income you’re asked for evidence, like a salary slip. But you’re not given any opportunity to provide anything to explain additional income.
IDEA #2: please allow for more detailed answers. Answers that allow the account owner to explain what would otherwise be considered anomalies.