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Bunq

  • 12-08-2022 1:38pm
    #1
    dirk_dangler
    Registered Users, Registered Users 2 Posts: 545 ✭✭✭


    With KBC closing i had no interest in going to one of the Irish banks, online features a generation or two behind, so moved to Bunq, started an account at 9pm and was finished in 5 minutes , the account was fully authorized by 8am.

    Loaded some money on Bunq with a debit card, €500 per months this way without fees, link the Bunq card to apple pay and zero problems using it, in the app requested a physical card, took about 6 days to arrive. Sent the rest of my KBC money Bunq Iban and was there the next morning.

    The Irish Iban convenience when setting up a direct debt is a bonus, zero issues there, and can report that everything works smooth and fast, transfers to N26 are instant..

    If you do sign up they give you 1 month free of the top package with all the bells and whistles, after a week I realised i would not need this level of banking and selected the lowest tier, €3 a month lowest level does it all for me. I don't have a need for multiple Ibans, I send money instantly to N26 and overnight to credit union , squirrel away my saving there.

    The app has something like a forum built in where you can search or ask for answers to any question you might have, all in all im happy with it, zero issues for €3 a month and i would have no problem recommending it.

    Try it out free for a month, you have nothing to lose



Comments

  • #2
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    100% agree

    Just make sure you order the "credit card" (it deducts immediately) and not the maestro card.


    I have all my payments switched over from ulster now and it is a superb platform and decent customer service.



  • #3
    dubrov
    Registered Users, Registered Users 2 Posts: 3,593 ✭✭✭dubrov


    Why pay €3 a month Vs free on Revolut/N26?



  • #4
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    https://www.boards.ie/discussion/comment/119470763#Comment_119470763

    Revolut has virtually zero customer service.

    Revolut don't offer "credit card" versions of debit cards.

    Revolut have issues with direct debits / standing orders

    Revolut are a Lithuanian bank with Lithuanian IBAN which means people have to remember to put "Lithuania" as their "country"

    Revolut is not regulated by the Central Bank of Ireland and Lithuania's Central Bank is not well regarded


    Revolut are fine as a secondary account if you don't mind the incessant adverts that permeate every corner of the site and also if you don't mind near non existent customer service if something goes wrong.



  • #5
    cakedrive
    Registered Users Posts: 20 ✭cakedrive


    Try it out free for a month, you have nothing to lose


    I decided to give it a go but was surprised when they rejected my proof of residence documents. The Irish Water and Electric Ireland bills aren't in my name, but stuff like the fibre broadband and bins are in my name. They won't accept that. Only Water and Electricity.

    Not renting so no rental agreement, and my school days are decades in the past so those don't work either. Nothing else from their list applies to Ireland.

    Ended up going into EBS and getting a free Money Manager account. And my documents were accepted there.



  • #6
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,363 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/119474236#Comment_119474236

    Water and electricity are essential, broadband is not, so the chances are higher that the details provided are correct.... Ireland really needs to get a national identity system in place like the rest of the EU and stop all this nonsense.



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  • #7
    cakedrive
    Registered Users Posts: 20 ✭cakedrive


    Ireland really needs to get a national identity system in place like the rest of the EU and stop all this nonsense

    Hey Jim, I think that's a bit of a heavy handed thing to implement for something that's Bunqs problem.

    This is Bunq interpreting the KYC rules in their own limited way and its not a problem I've had with other banks.

    I opened an EBS MoneyManager and Credit Union (non current account) on the same day using the same documents and the vodafone landline/broadband was accepted as a valid proof of address.



  • #8
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,363 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/119475371#Comment_119475371

    At this point in time every agency that need your details have them and the only people be inconvenienced by this opposition to a national id card are the ordinary people going about their business



  • #9
    awec
    Administrators Posts: 54,006 Admin ✭✭✭✭✭awec


    There's a Bunq thread already FYI.

    Been using it for months at this stage, I like it. Revolut is better for foreign exchange, but IMO Bunq is better at pretty much everything else. The sub accounts and joint accounts is very useful, and being able to create separate cards for each account makes tracking spending very easy.



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