Is bunq safe and reliable?

Johanna

Hey bunqers 🌈

At bunq, your safety is our top priority. We’re constantly improving our security measures to ensure that your money and personal information stay safe with us.

Deposit Guarantee Scheme (DGS)

We hold a full European banking license issued by the Dutch National Bank (DNB). As part of this license, your deposits are covered by the Deposit Guarantee Scheme (DGS), which protects up to €100,000 of your money.

You can learn more about the DGS on the Dutch National Bank's website or check out our infosheet. For full transparency, you can also view our registration with the DNB here (https://www.dnb.nl/openbaar-register/registerdetailpagina/?registerCode=WFTDG&relationNumber=R127999).

Important: Please note that non-Euro Savings accounts are not covered by the Deposit Guarantee Scheme and are subject to value fluctuations.

Your privacy

We collect and use your personal data to help assess and accept new users, process payments, ensure the security of the financial sector, and meet legal requirements.

Rest assured, we will never sell your information to third parties. We only share relevant information with third parties when it's necessary to provide our services, and we always keep it to a minimum. For more details, please refer to our Privacy Statement (https://www.bunq.com/legal/privacy).

How does bunq ensure the security of your account?

In addition to our dedicated Compliance team that diligently monitors for any suspicious activities, we’ve integrated several security features into our app. These features add an extra layer of protection to your bunq account:

Detection for remote access software: To prevent fraud, we detect the use of remote access apps like AnyDesk. If detected, we automatically place a payment limit on your account to block potential fraudulent transactions.
IBAN-name check: To reduce the risk of incorrect or fraudulent transfers, we prompt you to verify the details if the recipient’s name doesn’t match their IBAN.
Extra security warnings: To help you stay safe, we provide additional alerts when you’re taking potentially risky actions, like approving a login, making a payment, or changing your daily limit.
Reset your Security Code: If you reset your Security Code, all active login sessions will end. If you want to log in from a new device, you’ll need to verify your identity again. This adds an extra layer of security, especially if you suspect your account might be compromised.
SOS Support: If you lose access to your account, call our SOS Support at +31208083666. This automated flow will help you temporarily block your card and bunq account within 1 minute, keeping your funds safe until you regain access. If you believe your account has been hacked, please report it by filling out this form (https://www.bunq.com/report/hacked)

How can I ensure the security of my bunq account?

We’re here to help keep your funds safe and prevent unauthorized access to your bunq account. To make sure your account stays secure, here’s what you can do to protect it 💪

Take a look at our security guidelines:

Keep your Security Code private and never share it with anyone, no matter what.
Protect your phone by setting up at least one form of access protection, like a login code
Check your account regularly, ideally every two weeks.If you notice anything unusual, reach out to us right away via the support chat or email us at support@bunq.com, and we’ll guide you through the next steps.
Make sure you're always using the latest version of the bunq app and keep your phone's operating system updated.
Only log in to bunq through the bunq app or bunq Web. If you’re unsure, contact us via the secure in-app chat.
Remember, we will NEVER call you. If someone claiming to be from bunq calls, hang up and report it at bunq.com/report.

As part of legal requirements, we always verify who’s using our services. That’s why we ask you to verify your identity when you open a bunq account. Also, please remember that your bunq account is for personal use only.