Hey bunqers 🌈
Your safety and well-being are our priority. That’s why we have an Acceptance Policy in place to abide by legal regulations and follow some of our own risk standards as a bank.
Some Business accounts may not get verified since they don’t fit our Acceptance Policy. Below, you can see the main reasons we might not verify certain Business accounts:
Complex Legal Structure
To ensure optimal user experience, we currently only provide our services to small and mid-sized businesses with simple corporate structures. This means that the following structures don’t fit our Acceptance Policy:
- Foundations (Stichtingen) not managed by a natural person.
- Any legal entity managed by a Stichting.
- Companies with shares owned by companies without shares.
- STAKs (Stichting Administratiekantoor) or companies with a STAK in their ownership structure.
- Companies whose second layer includes one or more companies which are not a Besloten Vennootschap (or a foreign equivalent)
- Stichting Derdengelden
- For Dutch companies: Ownership structure which doesn't end with a natural person in Layer 3 (learn more about accepted layering here)
- For companies outside The Netherlands: Ownership structure which doesn't end with a natural person in Layer 2 (learn more about accepted layering here)
- Companies whose layers contain businesses outside our accepted forms
You can learn more about the structures we accept here
Activities aren’t in line with our risk profile
In order to provide you our services, we should make sure that your business activities are in line with our risk appetite. This means that if your business activities are too risky activities, we’ll have to postpone your verification until further changes in our Acceptance Policy.
- You can learn more about business activities here
You’re not the director of the company
To keep your money safe, we currently only allow authorized representatives of a business to open an account. When we verify your business, we make sure to double-check all the provided info with the Chamber Of Commerce’s database.
If a director mismatch is found, we’ll let you know right away!
If this is a misunderstanding, you can contact us via Support from here and provide a document stating you’re authorized to represent the company.
Director's Personal account isn't verified
As a bank, we're legally required to store all of our users’ personal information in a secure way. Creating Personal accounts for the directors of the Business accounts allows us to keep your and your company’s information safe while complying with this regulation. More info can be found here.
In order to finish your Business' verification, all directors should have verified and active Personal accounts. See how to verify your Personal account here.
Unsupported Legal Form
We only accept a limited range of legal forms within the countries eligible for Business accounts. That’s why, if your company doesn’t match our supported types of business for the country you reside in, we won’t be able to verify your account.
- You can check the supported legal forms per countries here
Minor Director
At this moment, we don’t allow minors to open Business accounts or be a part of the corporate structure, as per our Acceptance policy.
- You can check more info on our Acceptance Policy here
Business isn’t active in the Chamber Of Commerce
If your company isn’t registered with an active status in the Chamber Of Commerce’s database, we won’t be able to continue with your company’s account verification.
Once your business’ status changes back to active, we’ll be more than happy to review your application again. Just make sure to contact us via Support from here.
High monthly transaction volume
If the expected monthly transaction volume doesn’t fit our current focus towards small and mid-sized businesses, that could also lead to a more extended review process to determine if we can currently support your stated volumes.
As of now, we don’t support businesses with monthly transaction volume above €5,000,000.
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