Did you receive a message from our Compliance Team saying that your account has been blocked or is under review?
If so, it means we’ve decided to temporarily suspend your account. We take security seriously here at bunq, and have placed your account under review to make sure your money stays safe. Keep reading to see why this might have happened.
Why do we restrict accounts?
As a bank, we're legally required to protect our users’ accounts and the integrity of our banking system. To make sure everything stays safe, we pay close attention to how our customers use their accounts. This helps us identify anything suspicious, and flag any activity that could present a problem.
Whenever we recognize suspicious activity that goes against our Terms and Conditions, we take immediate action. This helps keep your account safe, and protects your data.
Please be assured that we’ll never intentionally freeze or close an account although the laws prevent us from sharing additional details. Thank you for your understanding! 🙏
What happens when my account is restricted?
Sometimes bunq may temporarily restrict your bunq account(s). That could mean either a complete restriction for all the incoming and outgoing payments or a partial restriction for the outgoing payments only.
You'll always receive a notification for such blocking of your account(s).
Does this mean my account with bunq will be terminated?
The short answer is no. Each case is reviewed by our dedicated team and processed in line with our policies and legal requirements. We won’t terminate your account without further notification. However there’s certain information that we’re not legally allowed to share with you.
You can find more details in our Terms and Conditions 🙌
What’s the reason for my account's restriction?
See the possible reasons here
What can you do?
You can check here
Can I still receive money on a blocked account?
You can learn more about this here
What happens with my money once my bunq account is terminated?
In case we’ve determined that your bunq account usage differs substantially from what’s considered a regular day-to-day banking behavior, we may take actions on your account closure and you won’t be able to receive any incoming payments afterwards. This means that all transactions sent to your account will bounce back to the sender.
As to all funds remaining on your account, there are 2 case scenarios:
Any remaining funds in your account(s) that is rightful to you will be returned for which you’ll receive an email with instructions to claim your funds as explained in our Terms & Conditions. You’ll have 45 days to collect your funds via the bunq.to link we'll send you through email. If you fail to claim your funds, please reach out to our Support team for further assistance and provide your EEA IBAN account details for a refund.
Any remaining funds in your account(s) will be held after closure for an initial period of 4 months in order to cover any outstanding payments or fees, pre-approved payments, or rightful claims of third parties.
Within this period we’re performing additional reviews to help you get your funds back. We may further extend this period if we need additional input from third parties.
As soon as we have additional information and when we confirm that your funds can be returned to you, we will inform you accordingly.
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