bunq Together

Local IBAN

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How can bunq run Local IBAN features? Do they need different finance licenses for the different countries? Or do they use the partnership with Currencycloud?

thijsoost

Pietro They indeed work with Currencycloud for local currencies, but for the local IBANs they have offices in those countries.

Jakob-Y

Pietro Two different features:

Local IBAN is from bunq themselves, through many different branch offices and licenses in different countries.
Local Currencies is offered in partnership with Currencycloud.

Therefore: all Euro accounts are fully by bunq themselves, no third parties involved. The non-Euro accounts are offered through partners.

Gianguig

Pietro Hi 👋,
Local IBAN are run by bunq and are truly local IBAN numbers owned by bunq via its local subsidiaries. Available as of now in NL, DE, FR, ES and IE.

Local currencies instead are run using partnership with CurrencyCloud and are all based out of the UK.

I hope you find these info useful.
Regards
GG