What is an e-money account and how do I use it?

bunq

Hey bunqers 🌈

When new users download the bunq app they can start using bunq instantly. Once they open their bunq account for the first time without completing the verification process, they get an e-money (or so-called bunq Demo) account. You simply download the bunq app and you start using it right away, getting to know bunq in an easy way. However, in order to use all of our cool features right away, you should finish your verification.

How does it work?

Simply download the bunq app, accept the Terms & Conditions, provide your name and your date of birth and you're good to go! However, you'll be able to order a Credit Card or Maestro card, only after verifying your account by upgrading it to a full bank account and provide your address to get the card delivered 💳

As an e-money user you can only order DigiCards.

What can I do with my e-money account?

Total transaction limit of €150 during the whole e-money period of your account (until you verify your account)
Not included international payments
Not included physical bunq cards
Not included joint sub-accounts
Not included opening of additional business accounts
Not included iDEAL top up

Keep in mind that the e-money accounts aren’t covered by the Deposit Guarantee Scheme

How do I manually upgrade to a full bank account?

You’ll automatically be prompted to upgrade after reaching the limits of your e-money account but you can also switch manually to a full bank account:

Click on the Profile tab
Select Settings in top right corner
Select Personal Information
You can then upgrade your account (make sure to keep your ID at hand!) by tapping on Make sure you're secured

Your account may need verification. Learn more about verifying accounts here. Unverified accounts can also be invoiced, starting right after your 1-month free trial.

Who can open an e-money account?

You can open an e-money account if you live in the following countries: Germany, France, Belgium, Italy, Ireland, Spain, Sweden, Greece, Bulgaria, Croatia, Austria, Czech Republic, Finland, Luxembourg, Lithuania, Malta, The Netherlands

My child has opened an account without my knowledge - what should I do?

The account that has been opened by your child is a so-called e-money account. Under European regulations, we're allowed to offer these accounts without verifying the identity of the person opening the account. To avoid fraud and other misconduct, these e-money accounts are limited in their functionalities.

This is why your child was able to open their account without any parental approval. In case your child wants to open a full bank account with us, you should give your child permission first. If you want to know how to open an account for your child, please check this page.