Hey bunqers 🌈,
Have you received a message from our compliance team about your account being closed or under review? Don’t worry - we’re here to help you understand why this might have happened and what you can expect next.
Why do we restrict accounts?
At bunq, security is our top priority. We work hard to provide a safe banking environment for all users. As a fully-licensed bank, we’re also legally required to comply with regulations and follow European legislation.
Our advanced systems are designed to detect irregularities or unusual account activities. When we identify something out of the ordinary, we may temporarily or permanently restrict an account to protect it. This process ensures that:
- Your account remains secure.
- The integrity of our banking system is upheld.
While we understand account restrictions can be inconvenient, they’re a crucial part of keeping everyone safe.
What happens when my account is restricted?
Sometimes, we may temporarily restrict your bunq account(s) due to an external request for an ongoing review that requires additional input from you. If our compliance team needs more information to proceed, they’ll reach out to guide you through the next steps.
Restrictions can be partial or complete, and you’ll always receive a notification if this happens. You can read more about the reasons we may restrict your account here.
All restricted account cases are carefully reviewed by our dedicated team to determine if the account needs to be permanently closed. Rest assured, we’ll never close an account without probable cause. While legal limitations may restrict the details we can share, we’ll keep you informed as much as possible.
Check our Terms and Conditions for more information 🙌
Why was my account permanently closed?
If we find that your account activity doesn’t align with regular banking behavior, termination may take effect immediately.
You will receive a notification both in-app and via email from our Compliance team to let you know why your account was permanently closed and what happens next.
Can I still receive money on a permanently closed account?
If your account is closed, incoming payments will bounce back to the sender, provided there are no legitimate claims from third parties.
What happens to my money after my account is permanently closed?
If your account is closed and you have remaining money on the account - we’ll return any money that belongs to you after a minimum of 30 days.
We hold the remaining money in your account for 30 days (or longer, depending on third-party claims) to settle outstanding fees, debts, or payments authorized before the account was closed.
Please note: We can’t speed up the process and must wait at least 30 days before forwarding the remaining money to you.
How will I get my money back from a permanently closed account?
After the 30 day review period, all remaining money in your account will be returned to you and we’ll notify you via email. The email will hold a bunq.to link which you can use to claim your money within the next 30 days.
If you miss this deadline, contact our Support team and provide your EEA IBAN. Our team will manually refund you to the EEA IBAN you provide.
Can I dispute the permanent closure of my account?
Once we permanently close your account due to the detection of irregular banking behaviour, we can’t revert the decision. We do this to keep our banking environment safe and comply with banking regulations.
At bunq, we’re committed to making banking easy and secure for everyone. If your account has been permanently closed and you have any questions, feel free to reach out to our Support team through the app by tapping on 🟣 the Support Centre button on the bottom left of your screen or via support@bunq.com.
Important Notes
- Keep the bunq app installed: Updates and next steps will be shared via in-app notifications and chat.
- Notice Period: If you’re given a notice period, use this time to transfer your funds to another bank account.
Related Topics
Want to learn more? Explore more bunq knowledge here ✨
