How do I receive money in my Foreign Currency Account?

bunq

Hi bunqers 🌈

When someone sends money to your Foreign Currency Account, this is mostly a SWIFT payment. It takes time for these payments to arrive. SWIFT payments can take up to 5 days. There are also fees involved in receiving a SWIFT payment. You can learn more about this here.

Note: bunq doesn't handle currency conversion. This responsibility lies with the sending bank. Foreign Currency Accounts only accept deposits in the specified local currency.

What are my Foreign Currency Account's details?

The Foreign Currency Account's IBAN is a UK IBAN
BIC/SWIFT code: TCCLGB3LXXX.

For GBP accounts, you have Foreign Currency Account details in addition to your IBAN. If someone sends Pounds using these account details, it's processed as a Faster Payment (FPS), which is way faster and cheaper than a SWIFT payment. A Foreign Currency Account transfer in GBP arrives in seconds!

Now you can also do USD transfers faster than ever - find the ACH routing number for your USD account by following the easy steps explained here

Limits and bouncing fees for incoming payments

Limits

To keep Foreign Currency Account safe and available at all times, incoming transactions over £90.000,00 can't be processed and are returned sender.

Bounce fees
For an incoming payment that’s bounced, transaction costs apply. These cost are deducted from the payment upon return

Can I receive all kinds of currency payments on my Foreign Currency Account?

Indeed! As of July 4, 2022 you're able to receive payments in different currencies to your Foreign Currency Account and we'll do the conversion for you. Example: You were sent 10 EUR to your USD account, what's gonna happen is that we'll automatically convert the transfer and you'll receive 12 USD (based on Currencycloud's conversion rate for the day)

From which countries can I receive funds?

Åland Islands (ALA)
Andorra (AND)
Australia (AUS)
Austria (AUT)
Belgium (BEL)
Bulgaria (BGR)
Canada (CAN)
Cayman Islands (CYM)
Chile (CHL)
China (CHN)
Cook Islands (COK)
Croatia (HRV)
Cyprus (CYP)
Czech Republic (CZE)
Denmark (DNK)
Estonia (EST)
Faroe islands (FRO)
Finland (FIN)
France (FRA)
French Guiana (GUF)
Germany (DEU)
Gibraltar (GIB)
Greece (GRC)
Greenland (GRC)
Guadeloupe (GLP)
Guernsey (GGY)
Hong Kong (HKG)
Hungary (HUN)
Iceland (ISL)
India (IND)
Indonesia (IDN)
Ireland (IRL)
Isle Of Man (IMN)
Israel (ISR)
Italy (ITA)
Japan (JPN)
Jersey (JEY)
Latvia (LVA)
Liechtenstein (LIE)
Lithuania (LTU)
Luxembourg (LUX)
Malaysia (MYS)
Maldives (MDV)
Malta (MLT)
Martinique (MTQ)
Mauritius (MUS)
Mayotte (MYT)
Monaco (MCO)
Mongolia (MNG)
Namibia (NAM)
Netherlands (NLD)
New Caledonia (NCL)
New Zealand (NZL)
Norway (NOR)
Oman (OMN)
Philippines (PHL)
Poland (POL)
Portugal (PRT)
Puerto Rico (PRI)
Réunion (REU)
Romania (ROU)
Saint Martin (French part) (MAF)
Singapore (SGP)
Slovakia (SVK)
Slovenia (SVN)
South Africa (ZAF)
South Korea (KOR)
Spain (ESP)
Sri Lanka (LKA)
Svalbard and Mayen (SJM)
Sweden (SWE)
Switzerland (CHE)
Taiwan (TWN)
Thailand (THA)
Tonga (TON)
United Kingdom (GBR)
United States (USA)
Uruguay (URY)
Vietnam (VNM)

Can I receive payments from all sources of funds?

To keep the Foreign Currency Account safe and responsible, not all sources of funds are allowed. The following sources are restricted for funding a Foreign Currency Account:

Businesses related to weapons
Multi-level marketing
Pawnbrokers
Political organisations
Precious metals and stones
Adult entertainment
Drug paraphernalia
CBD and related products
Carbon credits
Crypto currencies
Gambling
Ponzi / pyramid schemes
Firms involved in the servicing of illegal goods/services including but not limited to: counterfeit goods/trademark infringement, human trafficking, child labor, prostitution.

What happens if money comes in from a restricted source or in a currency that’s not supported?

When you receive money in an unsupported currency, or when the money comes from one of the above sources, the funds are returned to the sender. 🚀