My account was restricted: What’s the reason?

bunq

Hey bunqers 🌈

We continuously monitor users activity on their accounts and we take care to ensure their financial security and compliance with bunq Terms and Conditions.

Why was my account restricted?

There are a couple of reasons on why restrictions on your account may have applied:

Our advanced system may have spotted unusual activity on your account and automatic security measures have been applied until further review is done by the relevant team
You’ve missed a deadline to comply with a certain requirement (e.g. transfer a business activity from a personal account to a business account);
You haven’t provided the requested documents or information (e.g. regarding your source of funds, a payment or intended usage of a bunq account).

What can I do?

You can first check if there are any Awaiting events or unresponded chats

Open your bunq app and go to the Profile tab to check for Awaiting events.
Both pending events or awaiting chat(s) will be visible so you can check and provide all the required information and supporting documents.
You can attach pictures or PDF files of the requested documents (e.g. a copy of your salary slip or extract of another bank account).
Make sure you go through all questions and provide any relevant supporting documents requested. This will save you time and will help us finish the checks faster.

In case none of the above is applicable to your case and you haven’t received any other notification related to the restrictions applied to the account, please do not hesitate to contact ourSupport team for help.

What happens next?

We act in line with the European laws to make sure your money stays safe with us. If we suspect that your account is being used to carry out illegal activities, then it's our responsibility to deny all access to that account. Depending on the situation, this decision can be either temporary (until further details disclosed) or permanent.

Our Compliance Team may contact you for further information to make a decision to either (1) unblock your account or (2) block your account permanently.

If we decide to close your account, you'll be contacted by our Compliance Team to let you know what happens next. In the event that your account gets permanently closed, you'll no longer be able to receive or make any payments afterwards.

Our Compliance Team may also decide to hold funds after the closure of your account to cover any debts to us, payments that you approved before your account was closed or legitimate claims and rights of third parties. You can learn more here.