Petervdv 🏳️🌈 I’ve kept that in mind and considered it likely irrelevant as most competitors that launched around the same time seem to support it. To cut Bunq some slack, I didn’t count Knab as AEGON already had actual financial experience. :) Incidentally, I’d rather have better essential functions for a bank than stuff like getting badges for example.
See what bothers me and why I clearly cannot hide my annoyance with this discovery, is that this inability to receive currencies other than EUR doesn’t (clearly) seem to be communicated anywhere. I can’t find it in the terms, I can’t find it in the pricelist, and can’t find it anywhere on the website... This is a very severe limitation, such things must be communicated.
The terms only make a note about SEPA banks being supported. I’m aware of that, as I actually read the whole document before signing up. But SEPA != EUR only. I mean there’s british pounds, norwegian kroner, swiss francs, swedish kroner and then there’s multiple banks that allow you to open an account in USD even as a consumer. Not accepting transactions from outside SEPA is inconvenient, but not necessarily a problem for me. But nowhere does it state you cannot receive other currencies, it only states your balance is kept in EUR. I figured that means it’s automagically converted to EUR for you, and that was fine with me.
A note in the Pricelist enforced me interpreting it as such. It states that for transactions in another currency, they’re converted to EUR. Now this is for outgoing payments by the looks of it, it’s the generic term “transactions” (meaning in/out) that put me off on that one. And to top it off: it mentions inbound SWIFT-payments in the pricelist. I already found that slightly confusing as the terms state it’s impossible to get transactions from outside SEPA (even states under “handrem” (handbreak) that such transactions are blocked, so I guess that’s just a fine for rejecting the payment, lol... Which also isn’t clearly communicated.)
So all the same: no explicit mention that you can only receive payments in EUR... I seriously can’t find a mention of it anywhere nor a note that Bunq rejects foreign currency payments. (And that’s also important, because the sender can be fined of a transaction fails, just like at Bunq...)
It’d be really nice if stuff like this would be really clearly communicated. It’s a fundamental feature that you’d expect which apparently doesn’t work, so that’s not something a bank should forget to mention in my opinion...
And that’s what pissed me off about this. :) I don’t like surprises, especially not nasty surprises.
So I hope Bunq will clarify this better on the site and/or terms for now; and hope they will start supporting receiving other currencies than EUR really soon as it’s a essential function imho.
