Is bunq safe? Dutch banking licence, deposit protection and DNB's fines

In short: bunq is a licensed Dutch bank, so eligible money in your bunq accounts is protected up to €100,000 per person by the Dutch Deposit Guarantee Scheme. Separately, the Dutch central bank (DNB) has fined bunq for weaknesses in its anti-money laundering controls, most recently €2.6 million in 2025, which bunq is contesting in court. The first fact is about your money if the bank fails; the second is about how the bank runs its checks.

Who holds your money

When you open an account, your contract is with bunq B.V., which bunq's terms describe as "a Dutch financial institution", registered with the Dutch Chamber of Commerce under number 54992060. According to those terms:

• De Nederlandsche Bank (DNB) supervises bunq's banking licence, which you can check in DNB's bank register.
• bunq is registered with the Dutch Authority for the Financial Markets (AFM) for conduct-of-business supervision.
• Accounts with an Italian IBAN are run through bunq's Italian branch in Milan, listed in the Bank of Italy's register of banks under number 8094.

Because bunq is a bank and not an e-money institution, it can hold deposits and must belong to a deposit guarantee scheme.

How the Dutch deposit guarantee works

bunq's terms state that, subject to certain exceptions, verified bunq accounts are covered by the Dutch Deposit Guarantee Scheme up to €100,000. DNB and the Deposit Guarantee Fund run the scheme together.

Points worth knowing:

• The limit counts all your balances at bunq together: main account, sub-accounts, savings and term deposits.
• bunq says the protection applies on every plan, including the free one, and covers interest earned.
• For business customers, bunq explains that a sole proprietorship shares the €100,000 with the owner's personal account, while a separate legal entity such as a private limited company is protected on its own.
• DNB says the scheme protects individuals and almost all businesses, but not government organisations or financial firms.

Non-euro balances: check before relying on them

bunq's pages are not fully consistent here. Its deposit protection page refers to eligible euro deposits and says non-euro savings "are not covered and can change in value". A bunq blog post on the scheme lists Foreign Currency Savings Accounts among covered products. Until bunq clarifies this, treat cover for non-euro balances as uncertain and ask bunq in the app if it matters to you.

Our general guide Is my money safe in a neo bank? compares deposit protection across the providers on this site.

What is not covered

The bunq app also gives access to investments run by partners. These are not bank deposits:

• Stocks and ETFs. bunq's terms say the service is provided with Ginmon and Upvest, investment firms regulated in Germany by BaFin, and that "neither bunq, Ginmon, or Upvest can guarantee any returns on your investments".
• Crypto. bunq says this product "is offered by Kraken, and all crypto activity is handled directly by them". bunq warns that "you could lose all the money you put in".

DNB lists shares, bonds and crypto-assets among the products the deposit guarantee does not protect. Their risk is a fall in value, not a bank failure.

DNB's fines: what happened

A banking licence does not mean a bank has never had problems with its supervisor. DNB's published decisions show:

DNB said bunq "did not sufficiently follow up on signals and irregularities in four customer files" and noted that earlier examinations and enforcement had "not resulted in sustained compliance". It also counted in bunq's favour that bunq completed a remedial programme after the latest examination.

What this means for you

None of this changes the deposit guarantee: eligible deposits remain protected up to €100,000. In practice:

• Expect checks. A bank under pressure to monitor customers more closely may ask where money comes from or pause an account while it reviews activity. Keep proof for larger payments and read what to do if a neo bank freezes or closes your account.
• Watch for updates. The 2025 fine is under appeal, so the outcome may still change.

Security features in the app

Day-to-day safety depends more on fraud prevention than on the deposit guarantee. bunq's help centre lists:

• detection of remote access apps such as AnyDesk, which puts the account in Safety Mode,
• resetting your Security Code, which ends all active sessions,
• a check that the recipient's name matches the IBAN on outgoing transfers,
• extra warnings when logging in, paying or changing limits looks risky.

bunq also says: "We will never call you!" It does not ask for personal details, login information or payment activity by SMS, email or phone, and official communication happens inside the app. If someone calls claiming to be bunq, hang up and contact bunq through the app.

How to check for yourself

1. Look up bunq B.V. in DNB's public register to confirm the licence.
2. Keep eligible deposits at bunq below €100,000 per person if you want them fully covered.
3. Treat stocks, ETFs and crypto in the app as investments that can lose value.

Summary

For eligible balances, bunq offers the same Dutch deposit protection as any bank licensed in the Netherlands. Its supervisory record is a separate matter: DNB has fined bunq more than once over anti-money laundering controls, and the latest fine is under appeal.

Compare bunq's fees on the bunq page, read bunq plans explained, or see the providers available in the Netherlands in our neo bank comparison.

Sources

• bunq: Deposit Protection
• bunq: Understanding the Deposit Guarantee Scheme for European Banks
• bunq: General Terms and Conditions
• bunq Help: Crypto FAQ
• bunq Help: What risks are involved in investing in crypto?
• bunq Help: What does bunq do to protect me from fraudsters?
• DNB: Dutch deposit guarantee
• DNB: Is everyone's money protected?
• DNB: Fine for bunq B.V. for insufficient customer due diligence
• DNB: Beslissing op bezwaar bestuurlijke boete Wwft bunq B.V. (PDF)

Prices and features checked on 2026-11-02.

This guide is general information, not financial advice. Fees, features and availability change, so check the provider's own website before you apply. Read how we compare providers and our affiliate disclosure.