Receiving payments from abroad

CWHodlings-Yellow-Jaguar

Hi everyone,

So I know that Bunq has a partnership with TRansferwise for sending payments abroad and that's fantastic. But I would like to know what happens when receiving payments from abroad?

I work as a remote worker for an American company, who pay me in USD. I would ideally like to actually hold this money as USD in my Bunq account instead of converting it to Euros each month automatically. That way I can decide when the best time to convert the currency might be.

Is this something I am able to control and setup in my Bunq? Having both a USD account and Euro?

Jakob-Y

CWHodlings With bunq you only have an Euro account. You can receive payments from the US, but only as long as it‘s an Euro payment. Other currencies will bounce back.

But you could of course open a free multi-currency account at TransferWise and receive and hold USD there. It‘s not integrated directly in the bunq app but fast to transfer to your bunq account whenever you need it.

Tim

Hi 👋 CWHodlings

Unfortunately that won't work. You can only receive and hold EUR on your bunq account. Other transfers will bounce back to the sender.

What you can do is open an account at Transferwise and receive money on a USD account there. Exchanging the money to EUR is relatively cheap with Transferwise and you can send the money to your bunq account through instant payments in EUR.

CWHodlings-Yellow-Jaguar

Thanks for your quick answers!

Petrus-Olive-Tiger

CWHodlings Laat ons even weten als je een Transfer wise rekening hebt geopend met een Europese IBAN en Amerikaanse bankrekening? Dan kun je binnen Transferwise omzetten van dollars naar euro's bij Transferwise. En van Transferwise overboeken naar Bunq staat het geld gelijk bij Bunq door een Instant Payment overboeking te doen. Easy peasy!