Bank Switch Service: What is it and how do I enable it?

Elise

Hey bunqers 🌈

Got your German, French, or Irish IBAN and want to make bunq your primary bank account? You can do so via the fully mobile Bank Switch Service within the app 🙌

Users with German, French, or Irish IBANs can easily enable the Switch Service that allows all of your incoming payments and direct debits to be automatically switched to your new bunq account.

How do I submit the Switch Service request?

All you have to do is request a switch to bunq and we’ll take care of the rest 💪

Go to 👤 Profile tab
Tap on ⚙️ Settings
Tap on Switch Service
Tap on Let’s start
Choose the Bank Account where you want to redirect the payments
Register your Switch Service through the page you’re redirected to
Done ✅

Note: Requesting the Dutch Switch Service is done entirely in the app.

Who can use the Bank Switch Service?

Currently, the Bank Switch Service can only be applied for transfers from banks in the Netherlands, Germany, Ireland and France to bunq. This service is available for all our plans - bunq Free, Core, Pro, and Elite. The feature also works for both Personal and Business accounts.

Processing the request

Once you complete all the steps, your request will be sent to the old bank and it will be processed automagically 🪄

Your Switch Service will become active 2 weeks after being requested.

What will happen next?

Once your application has been submitted, you’ll get an email with your login credentials, which you can use to check the status of your request. You will also be able to see a dashboard with all the payments you selected, which ones have been notified and which ones you need to change yourself.

Once all the payment partners have been notified, you will receive a second email with some documentation and a reminder to log in and check the status of the partners.

This means that:

All payment partners and all direct debits made from your other bank account will be notified to change to your bunq account.
Once a new direct debit has been made with a company, we will automatically provide them with your bunq IBAN. Then the company will replace the IBAN on file and all future payments will be directly sent to your bunq IBAN. All direct debits made to the old account will not be processed.

For any further information, you can also check out our Terms & Conditions here.

Can I enable Switch Service on my Joint Account?

Currently, Switch Service for Joint Accounts is only available for Dutch residents. To enable it, follow the steps mentioned below:

Go to 🏠 Home
Tap on your Joint Bank Account
Go to ⚙️ Settings
Select Dutch Switch Service
Tap on Fully switch to bunq
Enter your old IBAN
Select a Bank Account to redirect payments
Confirm Switch with your Security Code

How do I cancel Switch Service?

Switch Service can't be cancelled directly from the app. If you need to cancel your Switch Service after it has been accepted, please reach out to us through our Support Center and we'll assist you with the cancellation process.

Why can my Switch Service request get rejected?

These reasons can be received from your old bank, so it’s best to do the needed amendments or reach out to them directly and then resubmit the request:

The old account is not under your name - We can only process Switches if both accounts (the old and the new one) are held by the same person, so we had to cancel your request.
The trade name linked to your old account is different from the trade name linked to your bunq account - Please make sure that the trade name of the company fully matches in both bunq and your old bank before re-submitting the request. If you’re sure that they already match, you can contact your old bank to check with them on how to ensure the resubmitted application is not rejected again.
The desired start date is incorrect. Old account may be in active Switch on that date - that means that the old account has been in the Switch Service that has either not ended by the desired starting date or too little time has passed since its conclusion.
The bank account (IBAN) is already registered with the Switch Service - In this case, it may be temporary or permanent inactivity of your account, or there's no such an account registered under your name.
Your old account is not a checking account - Make sure your old account is a checkout account.
The old account is of a different account type
- Please know that the old bank is only able to process switches from personal accounts to our Personal accounts or from Business to Business.
- We can only process Switch if both accounts (the old and the new one) are held by the same people, so please make sure to open a joint bank account at bunq as well, and you can request the Switch again!
The old account is closed
The KvK number linked to your old account is different from the KvK number linked to your bunq account - Both accounts in Switch Service should belong to the same Company of yours

For other reasons, please contact us through our Support Center.

How can I send money to my old IBAN with an active switch service?

You can transfer money to the old account by sending it from the new account that's active in the Switch Service, as only from that IBAN it won't be forwarded.