• Opening a business account

Hoi Bunq Community,

I have a quick question regarding the time for opening a business account.

I have a normal personal account and additionally want to open business accounts. So far so good, especially that Im already verified and have the kvk-number and all the other info for the business acount at hand and bunq advertises BIG TIME to open bank accounts within 5 Minutes.

So I am getting asked several times to provide Information, and because I am setting up my company with a holding to split risk from assets, the questions are pointed onto identifying shady structures for shady stuff. Which is also kinda understandable according to past news about dutch holdings.

So far so good, but then comes the big hammer, all data is provided and the app states that a verification will take about 3 WEEKS!!! Yes 3 weeks and thats not very 5 minutes alike

Has anyone else experienced this message and had really wait that long? Are there some other company directors who can provide Information?
It would ne really great if you can provide me some first hand experience, because without business account I cannot set up my boekholding and maybe loose my first 2 contracts because of the delay and need to know if action from my side is required because it really lasts that long

Thanks in advance for your information

    @MitchConnor#284040 The advertisement of verifying new accounts within 5 minutes is about personal accounts, not business accounts. On average, business accounts are verified within 1-2 weeks, but it can also take 3. The only thing you can do is provide the asked information and wait.

    You first need to have these administrative things (KvK, business bank account, etc.) ready before you start with your first contract. This isn't something you can blame on bunq in my opinion, all banks have a waiting time for business accounts.

      Thanks for your quick reply. It kinda helps a lot to hear it can really take that long

      There is no blamegame at work here. But the Provided Information by Bunq has lead to a miscalculation regarding the company account which causes trouble.
      And in this point you are wrong. The advertisment is also for business accounts.
      Example forum:
      https://together.bunq.com/d/46776-how-to-open-an-account-in-5-minutes
      And even in the app the button states:
      Open in minder dan 5 minuten een zakelijke rekening

      And noone would wonder if a bank checks for KYC stuff some working days.

        @MitchConnor#284048 The 5 minutes only apply if your account can be verified automatically. It looks like your account needs to be verified manually, which explains the longer waiting time.

          Hey there, @MitchConnor#284040 👋
          We understand it’s not ideal to wait for the business verification, however, business accounts may take different times to be reviewed depending on their activities, structure and provided documentation. We’re always doing our best to complete the process ASAP 🚀

          After looking into this for you, I noticed that our team already informed you on month ago that your company isn't legally registered. Kindly reach out to our support team, so they can provide you with further information 🙏

            6 months later

            Hi Sheldon, the same is happening to me and yet I provided all required information and now, I’m still waiting already for more than 3 weeks. This is outrageous

              Hello @Peter-Orange-Swan-1518602397#290669 😊

              I understand that you've been waiting for some time for your Business Account's verification, as Sheldon has already mentioned that Business Accounts may take more time to review and approve, so thank you for your patience!

              After checking into this, I have reached out to our responsible department about it, so they can review and update you accordingly! You can always directly contact our support team as well by clicking here and they will gladly help you out or provide the status of your application 🌈

              You can also send an email to support@bunq.com. Your safety is our utmost priority, that's why we suggest contacting us via the app as the connection is encrypted and therefore more secure 🔒

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