'customers will be able to easily set up direct debits and make and receive payments including monthly salaries. Without an Irish IBAN, services are quite limited as the market has seen with other well-known fintechs.'
@Yggr of Asgard what's the best way to use Bunq abroad, e.g. in the UK?
Should I create a sub account in "Bank like a local" in GBP, and then turn on AutoCurrency on my card so it'll take from this sub account automatically, and then transfer money from my euro sub account to my GBP sub account?
Or just pay as normal and let bunq handle the exchange on my normal euro account?
From what I can figure, if I just use my normal euro account, the fee will be: "The real Mastercard exchange rate + 0,5% (network fee)"
If I create a GBP sub account, I will have to pay "The Currency Cloud exchange rate + network fee (0,5%)" to fund this sub account from a sub euro account, and then I need to pay €0.70 per transaction (for GBP or USD) ?
You need 2 subs.
Does anyone know if you need to have two paid subscriptions for a joint account or one?
I wouldn’t mind paying €9 a month for the extra features of the Easy Money plan, but I definitely wouldn’t pay €18 if I needed two subs. I know there is the Easy Bank plan for €3 a month, but again if I needed two subs I don’t see any benefit paying €6 for that over a traditional bank.
Anyone ever have an issue with normal payments incorrectly being detected as a subscription?
The IBAN is fine, it's the BIC that causes issues. New BICs need to be set up on their systems, but most don't have a clue.
Those having issues with the BUNQ iban is that with the Irish iban? If so that is disappointing. The reason I chose BUNQ over N26 was to avoid these issues
I had too many issues with revolut and appalling experience with their "customer service" who simply did not understand their own system.
So this morning about 10am I opened a Bunq account.
I timed myself.
Just over 6 minutes including all verification.
At 11.10 I got a message from Bunq saying account is verified and ready for use.
At 11.15 my revolut balance was in Bunq and Mt revolut account closed.
Card added to Google pay and used twice without issue.
5/5 for day 1
All issues are now resolved, app is working again!
Yep, it's awful.
When I log into the web version, under the cards section there's just an error saying "Something went wrong at Bunq's side, our staff has been notified".
They got back to me today regarding another issue, just saying "try again" which of course fixed absolutely nothing.
I'm using App version 20.2.0 on my iOS 15.5 and my cards are still there, same on my iOS 15.6 device.
Let's hope they address your issues soon because I would have run by now that is just too much hassle.
iOS 15.4.1
As a matter of interest, on what OS are you?
Another issue now. 😕
Can't access the Budget Spent or Spending Insights sections. Clicking on them just doesn't do anything.
I think my account is just totally messed up.
Yep, it's really not good. Maybe I've just been super unlucky.
#1 = I couldn't add my card to Apple Pay. Kept getting an error. After waiting many hours, the issue eventually fixed itself before support even got to me.
#2 = All my cards disappeared in the app. Can't see any. Support guy took over a day to respond, he said he can't see cards either, said it's a bug. No idea when it will be fixed. Can't manage my card until then, can't see the CVC for my physical card. Not even sure if my physical card will even arrive, it was due to be posted but can't track the status any more since I can't even see it. Lucky I had added it to Apple Pay before it disappeared.
#3 = My balance doesn't update when I make a transaction. I have to close and open the app again every time. Again over 24 hours for a first response. I responded to their response within 30 seconds, that was about 5 hours ago, waiting on response #2 now. I suspect I'll get the same "it's a bug, we'll raise it". Who knows.
I have a 4th issue I need to raise now. I got a low balance alert, but every time I try dismiss it I get an error. It won't go away. I've topped up 2 days ago and still that alert just sits there.
So far, it's pretty terrible.
That is not good to hear, they used to be top notch in their customer service.
And that you had 3 issues so quickly is worrying.
I also have to say I've found the support fairly mediocre. Maybe it's cause I'm still within my free trial.
I raised the issue yesterday, it said I'd get an answer in 5 hours and it was more like 24 hours. And when someone does answer, it's not instant chat, there's like half a day or more between responses. It means even small issues take days to resolve.
So far I've raised 3 issues and none have been resolved.
I added it manually.. seemed to work, but it disappeared too. I have since read that Digicards are not supported in Apple Wallet, so god only knows what is going on. Bank and disappearing is not words you should hear in the same sentence.
Yes my cards have all vanished from the app too.
How did you add a digicard to Apple Pay? I thought that didn't work?
Doing my best to embrace Bunq but they are slowly killing me. Signed up for the €2.99 per month plan, as I planned to replace my joint KBC account with it. I set up a bunq account a few years back but never used.
I have a tap & pay maestro digital card which can't be added to Apple Pay. I then created a digicard which I could add to Apple Pay. Then the digicard just vanished from the Bunq app. Now when i try to create a new one it tells me i need to sign up to some €8.99 per month plan.
More teething issues in 1 day than I've had with Revolut in years.
I need a joint account with an Irish IBAN but preferably a neo bank. Hoping Revolut or N26 step up to the plate.
That point about converting to account/sort code is actually a very good point, let's hope that there will be a shift in attitude by companies now that the old excuse of "paper based mandate" is not applicable for Bunq.
Having a new issue now, all my cards have disappeared in the app, support says I've found a bug. 😕
Well, none of the traditional banks in Ireland do SEPA instant so it will always take at least one day.
Both Revolut and Bunq are doing SEPA instant in both directions so it will always be real time unless the payment is getting flagged for something.
Did a transfer from AIB to Bunq at ~3pm on Friday, money only arrived this morning.
Pretty sure all the traditional banks would be the same.
I've just done a transfer from revolut to bunq and it came through instantly. It's currently after midnight.
OK so I have decided to trial bunq as my main bank (including a joint account and a foreign currency deposit account) a their service seems good to me (although I came across a nasty bug with the account opening process which they took a while to address - and my partner is now actually have the exact same issue).
Now, here come my tax questions :-)
My understanding is that we are supposed to notify Revenue anytime we open a bank account outside Ireland (I know many people won't care but I want to make sure my tax affairs are fully in order): https://www.revenue.ie/en/property/foreign-property/opening-a-foreign-bank-account.aspx
I have 2 questions about this:
I could be incorrect, but I have a suspicion it could be a deeper issue than just updating their systems with a new bank code.
Some organisations have been refusing non-Irish IBANs because they never actually fully migrated to SEPA and have been converting Irish IBANs to old Irish sort codes and account numbers to process payments through legacy systems (which obviously can't be done with non-Irish IBANs). Hopefully there are very few of them left, but I seem to remember this is the reason the NTA wouldn't allow auto top-ups from foreign accounts for a couple of years until some of us raised the issue with the European Commission which eventually forced them to upgrade their systems in order to be SEPA-compliant (if I remember correctly you were also part of this).
*If* that is the the issue, bunq Irish IBANs could be as problematic as non-Irish IBANs, as I am assuming they don't have any matching legacy sort code and account number combination to be converted to (since the bunq Irish branch didn't exists then).
Just a guess and I hope I am wrong, but something to keep in mind.
This must be during working hours, right?
I did a transfer last night with AIB and it only hit my Bunq at 7am.
A day? What's going wrong there? The only traditional bank I've transferred to bunq from is KBC and they'd usually take a few hours. Other banks and revolut are instant.
Never had that happen.
