bunq
bunq · Mastercard
bunq is a fully licensed Dutch bank (De Nederlandsche Bank licence) that, thanks to its Milan branch, gives Italian customers an Italian IBAN, Mastercard debit cards, sub-accounts and interest on the balance. As a real bank, deposits are covered by the Dutch deposit guarantee scheme up to €100,000. The Free plan carries no monthly fee; the higher plans (Core, Pro, Elite) add physical cards and features but cost more than rivals.
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | dedicato · IT · IT |
| Deposit guarantee | EU guarantee €100,000 |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | Yes |
| SEPA direct debit (SDD) | Yes |
| On-chain crypto withdrawal | No |
| SEPA transfer | Free |
| Card included | Carta di debito Mastercard/Maestro inclusa (virtuale; fisiche nei piani a pagamento) |
| Interest on balance | 1.51% |
| Network | Mastercard |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA |
| Regulator | DNB |
| Segment | B2C |
| Funding / solidity | bunq B.V. · Dutch bank (DNB) · Milan branch with Italian IBAN |
| MiCA / License status | Licenza bancaria (De Nederlandsche Bank) NL banking licence (DNB) |
Plans & pricing
Free
- Price
- Free
- FX markup
- 0.5%
- Cashback
- 0%
- Cashback currency
- Nessuno
- Required staking
- Nessuno
- ATM limit
- €2,99 fissi a prelievo (+0,5% se serve conversione valuta)
- Italian IBAN
- Virtual Mastercard debit card
- Basic sub-accounts
Virtual card only: no physical card on this plan. Exchange: Mastercard rate +0.5% up to €1,000/year, beyond that the fee rises to 1.5%.
Core
- Price
- €4
- Issuance fee
- Free
- FX markup
- 0.5%
- Cashback
- 0%
- Cashback currency
- Nessuno
- Required staking
- Nessuno
- ATM limit
- Primi 5 prelievi/mese €0,99 cad., poi €2,99 (fee fisse)
- Physical Mastercard cards
- More sub-accounts
- Interest on the balance
1 physical card included. Fixed withdrawal fees: first 5 per month €0.99 each, then €2.99; +0.5% if currency conversion applies. Card replacement €9.99.
Pro
- Price
- €10
- Issuance fee
- Free
- FX markup
- 0.5%
- Cashback
- 0%
- Cashback currency
- Nessuno
- Required staking
- Nessuno
- ATM limit
- Primi 6 prelievi/mese gratis, poi 5×€0,99, poi €2,99
- Up to 25 accounts/IBANs
- Physical cards included
- Higher interest
3 cards included. Withdrawals: first 6 per month free, next 5 at €0.99, then €2.99 (fixed fees); +0.5% if currency conversion applies.
Elite
- Price
- €19
- Issuance fee
- Free
- FX markup
- 0.5%
- Cashback
- 0%
- Cashback currency
- Nessuno
- Required staking
- Nessuno
- ATM limit
- Primi 6 prelievi/mese gratis, poi 5×€0,99, poi €2,99
- All features
- Maximum limits
- Metal card (one-off €99.99)
3 cards included (optional Metal Card at €99). Withdrawals: first 6 per month free, next 5 at €0.99, then €2.99 (fixed fees); +0.5% if currency conversion applies.
Strengths
- A real bank with Dutch deposit guarantee up to €100,000
- Italian IBAN (Milan branch): salary payments, direct debits and PagoPA without IBAN discrimination
- Interest on the balance and multiple sub-accounts with dedicated IBANs
- No notable sovereignty advantage documented.
Weaknesses
- The Free plan is limited; full features require the paid plans
- Paid plans are expensive versus rivals (up to €18.99/month with Elite)
- bunq changes its plans often: always check the live pricing
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (NL banking licence (DNB)): reporting to authorities and freezes on order.
Verdict
Rating 3.7 (tier B): bunq is a real bank, with a Dutch licence and deposit guarantee up to €100,000, and the Milan branch's Italian IBAN solves the number-one problem of foreign neobanks (salaries, direct debits and PagoPA without discrimination). On protection it is solid. What holds the score back is pricing: the Free plan is limited and getting physical cards and full features requires some of the market's most expensive paid plans (up to €18.99/month), with a price list that changes often. Great for those wanting an EU bank with an Italian IBAN and interest; weigh the plan cost carefully.
bunq is custodial and full-KYC: it is a bank supervised by De Nederlandsche Bank, which holds the funds, can freeze or close the account and reports transactions. The banking licence, a strength for protection, is exactly what distances it from the trustless model: no self-custody, no censorship resistance.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is money on bunq guaranteed?
Yes: bunq is a bank with a Dutch licence (De Nederlandsche Bank), so deposits fall under the Dutch deposit guarantee scheme up to €100,000 per account holder.
Does bunq offer an Italian IBAN?
Yes: with the opening of its Milan branch bunq assigns an Italian IBAN, which removes 'IBAN discrimination' issues for salaries, direct debits (SDD) and PagoPA.
Sources
- Official service page Iban italiano · Succursale milano · Piani · Carte · +1 Data verified on Jul 12, 2026
- static.bunq.com FX markup · Card issuance fee · ATM limits Data verified on Jul 22, 2026
- help.bunq.com Plans & pricing Data verified on Jul 12, 2026
Update history
- Added real exchange and withdrawal costs: Mastercard rate +0.5% on all plans (on Free up to €1,000/year, then 1.5%) and fixed withdrawal fees of €0.99–2.99 per operation. On the Free plan no physical card is available: virtual only.