Bunq, an Amsterdam-based challenger bank, turned 5 on November 24th. Founded in 2012, Ali Niknam set out to radically change the traditional banking industry and create what we call today the bank of The Free.
Fast-forwarding 2020, bunq is an independent bank that offers mobile banking with no branch visits, no queues, no paperwork. Users can share bank accounts with whomever they want and pay with worldwide Maestro and Mastercards wherever they go. It is also the first challenger bank to be included in the Dutch Fair Finance Guide (2020 edition), with an all-time high score for a newcomer on the list.
On their official website, the company mentions: “bunq turns 5! We’re celebrating 5 years of innovation, 5 years of freedom, and most importantly: 5 years of building the bank of The Free, together. These years have been a true adventure from day 1. Looking back, we’re proud of so many achievements we’ve reached together and looking forward to making the next 5 even more amazing.”
As a part of the celebration, the Dutch fintech company introduced easy plans for both personal and business users:
Easy Travel: With this plan, the user can save 3% when spent abroad. It is accepted worldwide in a range of sectors including car rentals, hotel reservations, and offline terminals in airplanes and elsewhere.
Easy Money: This plan lets users manage money more effectively. It automatically categorises payments and saves up to 10% of the spendings. According to the company, easyMoney empowers you to make decisions that change your personal and professional life for the better.
Easy Green: With this plan, the company will plant a tree for every €100 spent on any bunq cards.
Moving on, we have jotted down 5 things you should know on bunq 5th anniversary. Take a look
#1 First digital bank to offer Google Pay
A few days back, the fintech company announced the addition of Google Pay as a payment option in the Netherlands and Portugal. Right now, it is available only for Android users. Google Pay will enable contactless, NFC-based payments via Android phones in offline or online stores.
#2 Launched joint account options
Earlier this year, bunq made joint banking easier with the launch of bunq +1, enabling premium and business users to share accounts whenever they want, with whomever they want. With a single tap, users can create an account for anyone they wish, including partners or children.
#3 On a greener mission
bunq is one of the few challenger banks that aims to make the world a greener place. As a part of the initiative, bunq came up with the Green Card, a metal card, which plants a tree for every €100 spent. As users spend, bunq will plant trees. Notably, bunq has planted more than 40,000 trees within two months of launching the Green Card. The Green Card is itself better for the planet as it is made of metal, which lasts 50% longer than a regular plastic card, claims the company.
#4 API marketplace for developers
Last year, bunq introduced a market place for developers to showcase apps built using the European challenger bank’s open API. In this regard, bunq is the first bank to introduce a market place presenting apps built on its platform. Through this platform, developers can market themselves to bunq users all over the world. On top of that, users can access various apps right from tracking spending habits to managing their existing online banking credentials with just a click.
#5 Supports startups
The Dutch challenger bank partnered with early-stage VC, Antler, to act as a banking partner for Antler’s innovative portfolio of startups in the Netherlands.
bunq is currently available in 30 European markets: the Netherlands, Germany, Austria, Italy, Spain, France, Belgium, Ireland, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, the United Kingdom, Norway, and Iceland. It has raised €44.9 million in funding to date.
Main image credits: bunq