Hey bunqers ๐
Receive, convert, hold and spend in your favorite currency without having to leave your bunq app. Easy Bank
Pro XL and Easy Bank Pro users residing in ๐ณ๐ฑ The Netherlands, ๐ฉ๐ช Germany, ๐ช๐ธ Spain, ๐ฎ๐น Italy, ๐ซ๐ท France, ๐ฎ๐ช Ireland can now open a Local Currency account and enjoy handling finances in 21 currencies.
How do I open a Local Currency account?
- Go to ๐ Home tab
- Tap on ๐ฃ + Add
- Click on ๐ข Add a Bank Account
- Select ๐ Bank Account
- Personalize your Bank Account
- Choose Local Currency
- Done
Further information can be found here.
Available currencies
The following currencies are currently available:
- Euro
- American dollar
- British pound
- Swiss franc
- Polish zลoty
- Danish krone
- Swedish krona
- Canadian dollar
- Turkish lira
- Czech koruna
- Romanian leu
- United Arab Emirates dirham
- Australian dollar
- Norwegian krone
- South African rand
- Hungarian forint
- Japanese yen
- Chinese yuan
- Thai baht
- Singapore dollar
- Mexican peso
Are my Local Currency Accounts secure?
bunq always aims to keep your funds safe and sound. As a result, in order to offer you the best product possible, without taking any risks, we partner with Currencycloud.
The way it works in essence is that your balance on your non-euro bunq accounts are technically held in a third-party bank account which isnโt sensitive to any credit-risks from our counter party.
This way, we ensure that your funds are taken care of with the best protection, regardless of the fact that they are not covered from the Dutch Deposit Guarantee Scheme. So yes, your Local Currency Accounts are secure ๐ช
Is my balance on Local Currency account(s) protected under the Deposit Guarantee Scheme?
Your (non-Euro) Local Currency account(s) arenโt eligible for protection under the Deposit Guarantee Scheme. For more information on how the Dutch Deposit Guarantee works click here.
Why do I get a UK IBAN on a Local Currency account?
The foreign currency isn't held in the Netherlands, but in the UK.
How do I receive money in my Local Currency account?
โก๏ธ Learn more here
- Important note: As of June 24, 2022, users from Latvia ๐ฑ๐ป, Lithuania ๐ฑ๐น and Poland ๐ต๐ฑ with already active Local Currencies Bank Accounts won't be able to receive payments or transfers there due to service restrictions based on our Acceptance Policy.
What are my Local Currency accepted activities?
Our partner Currencycloud has some legal restrictions on the type of industries, activities, and countries they support and service. Most of the activities are aligned with our Terms & Conditions, however make sure to check what are the Non-permitted activities and Permitted jurisdictions by Currencycloud - the payments from your Local Currency account are automatically processed and rejected based on the previously mentioned terms.
Why did I receive questions about my payment?
As your payments relate to currency conversion, this is done via our external partner payment provider - Currencycloud. Sometimes they need supporting information regarding these payments. If needed - you'll receive a notification regarding this and you'll asked to provide the needed information in the in-app chat โ
After receiving the requested information, our team forwards it to our payment provider partner. Once accepted from their side - the payment is done successfully!
Please note that failure to provide a sufficient response in 72h after receiving the questions may result in potential rejection of the payment in future.
Can I do a Direct Debit on my Local Currency account?
We're constantly updating our product and adding features, and this one is on the list, but not available yet! ๐ช
Can I use AutoSave for Local Currencies? ๐ธ
We currently offer Savings Accounts in EUR, USD, and GBP, which means payments made vie Multi-Currency Savings Accounts will contribute to your AutoSave account. Further information about Multi-Currency Savings accounts can be found here.
You can only choose to save in one Savings account at a time. This applies to all currencies available.
Does the app automatically deduct funds from my Local Currency account?
Via our great feature AutoSelect, wherever you go and with whichever card you pay, the app will automatically deduct the funds from the Bank Account with the corresponding currency.
Example: You go on a trip to the USA. Your card is linked to your EUR Bank Account, but you have an active USD Bank Account. When you make a card payment in the USA, the app will automatically deduct the funds from your USD Bank Account so that you can save on conversion fees and extra costs ๐
Are there gonna be more currencies?
Absolutely yes! And this is where you can be heard - vote for the local currency you want to see in our app next right here ๐ช
Related topics
Want to learn more? Explore more bunq knowledge here ๐
