Hey bunqers 🌈
When you reach the age of 18, you legally become an adult, which is why, we’ll implement a few changes to your bunq account. The most important one of these changes is that we remove the link between your account and your parent's account. As a result, you gain full ownership of your Personal account.
What does it mean to have full legal ownership?
Being a sole legal owner of your account at bunq means that you have full control and responsibility over the account. You are the only one who can make decisions related to the account, such as making transactions, changing account settings, or closing the account.
As the sole owner, you also have the responsibility to ensure that your account is used in compliance with bunq's policies and procedures. This includes ensuring that your account isn’t used for illegal activities or in a manner that violates our Terms & Conditions.
What’s the expected use of my account?
Personal accounts are intended for day-to-day spendings and savings. You can use it to receive your salary, scholarships, allowances or even birthday gifts from friends and family. In terms of spending, you can use Personal accounts to pay for groceries, shopping, travel, or anything you need to pay for in daily life.
Personal accounts can’t be used for commercial activities. If any commercial activities are detected, you’ll be asked to open a Business account, if available in your country, or discontinue business-like activities to avoid potential account closure.
What behavior isn’t tolerated?
Additionally, in order to limit the risks some activities and transactions may pose to the financial system, we do not tolerate using your bunq Personal account predominantly for the following activities:
- Gambling or betting activities
- Trading or investing in crypto assets or other unregulated markets
- Excessive cash withdrawals
- Receiving, spending, or sending money to countries that are considered high-risk by the European Union or have a low score on the Corruption Perception Index from Transparency International
- Intermediate account usage - transfers via payment service providers or to and from various counterparties
Related topics
Want to learn more? Explore more bunq knowledge here ✨
