Petervdv š³ļøāš Iāve 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 didnāt count Knab as AEGON already had actual financial experience. :) Incidentally, Iād 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 doesnāt (clearly) seem to be communicated anywhere. I canāt find it in the terms, I canāt find it in the pricelist, and canāt 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. Iām aware of that, as I actually read the whole document before signing up. But SEPA != EUR only. I mean thereās british pounds, norwegian kroner, swiss francs, swedish kroner and then thereās 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 itās 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, theyāre converted to EUR. Now this is for outgoing payments by the looks of it, itās the generic term ātransactionsā (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 itās impossible to get transactions from outside SEPA (even states under āhandremā (handbreak) that such transactions are blocked, so I guess thatās just a fine for rejecting the payment, lol... Which also isnāt clearly communicated.)
So all the same: no explicit mention that you can only receive payments in EUR... I seriously canāt find a mention of it anywhere nor a note that Bunq rejects foreign currency payments. (And thatās also important, because the sender can be fined of a transaction fails, just like at Bunq...)
Itād be really nice if stuff like this would be really clearly communicated. Itās a fundamental feature that youād expect which apparently doesnāt work, so thatās not something a bank should forget to mention in my opinion...
And thatās what pissed me off about this. :) I donāt 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 itās a essential function imho.
