Challenger bank bunq is coming to the UK
Another challenger bank is trying its luck in the UK. Will its “life-hack” features, ethical investing, and credit-card offering be enough to lure such mature and competitive market?
Challenger bank bunq is on a path of rapid growth as has announced its launch in the United Kingdom. Following successful launches in Germany, Austria, Italy, Spain, France, Ireland and Belgium, European challenger bank bunq is now available in all European markets. As of 2nd of October, British users will be able to enjoy the benefits of bunq.
“We’re very excited to launch in the United Kingdom. In true startup spirit we’re keen to learn how to make life easy for our British users”,
says founder and CEO Ali Niknam.
bunq now offers British users bunq Premium, which makes managing your money and cards easy. Users get a completely mobile banking experience with up to 25 fully functional Euro bank accounts and a set of Maestro and Mastercard debit and credit cards.
The European challenger bank is also the first bank in the world that lets its users decide where their funds are stored and how they are used.
bunq is also introducing its Travel Card, a Mastercard credit card introduced at the beginning of this year, in the United Kingdom.
By calculating the true exchange rate on purchases in foreign currencies, bunq Travel Card sets itself apart from other banks’ credit card offerings, resulting in savings of up to 3% for bunq’s customers. These savings can be significant for those travelling outside of the eurozone.
Furthermore, Travel Card enjoys excellent acceptance as it is a true credit card, which allows it to be used for hotels and rental services. The Mastercard credit card allows users to use these services, without the risk of overdraft. For a one– time fee, users can subscribe to the bunq Travel Card plan without any monthly costs.