bunq

Is bunq safe?

For money under €100,000, yes. bunq B.V. is a bank licensed by De Nederlandsche Bank (DNB), and deposits there are covered by the Dutch deposit guarantee schemeDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary up to €100,000 per person, whichever EU country you bank from. Its CET1 ratioCET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary was 23.3% at the end of 2025 and nearly half its assets were cash at central banks. The catch is conduct: DNB has found repeated anti-money launderingAnti-money launderingThe rules and checks that stop criminals from moving illegal money through banks, payment firms and crypto exchanges.More in the glossary failures since 2018 and fined bunq €2.6 million in 2025, which bunq is fighting in court. We score bunq 68/100, above N26 at 58 and Revolut at 65, below ABN AMRO at 74.

Who protects your money

Every bunq customer in the EU banks with the same company, bunq B.V. in Amsterdam. That means one set of rules for everyone:

Product	Protection
Current accounts, savings, term deposits	Dutch DGS, €100,000 per person per bank
Joint account	Split equally between holders, each counted toward their own €100,000
Shares and ETFs bought through bunq	Investments, not deposits
Crypto (with partner Kraken)	Not covered by the DGS

DNB says the €100,000 applies per person per bank, and all accounts at one bank are added together. If you keep €120,000 at bunq, €20,000 is unprotected.

Capital and liquidity

Measure (31 December 2025)	bunq
CET1 ratioCET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary	23.3%
CET1 capital	€385 million
Leverage ratioLeverage ratioA bank's Tier 1 capital divided by its total exposures, without adjusting for risk. It is a simple backstop to risk-based capital rules.More in the glossary	4.2% (minimum 3%)
Liquidity coverage ratioLiquidity coverage ratioA bank's cash and easy-to-sell assets compared with the money that could flow out in a 30-day crisis. It must be at least 100%.More in the glossary	350%
Net stable funding ratioNet stable funding ratioA bank's stable funding, such as capital and retail deposits, compared with the stable funding its assets need over one year. It must be at least 100%.More in the glossary	232%
Net profit	€22.4 million

The risk-based ratio looks generous because much of what bunq owns carries low risk weights: central bank cash, bonds and mortgage investments. The leverage ratio, which ignores risk weights, tells a different story. At 4.2% it is above the 3% floor but not by much, and growth in the balance sheet eats into it unless profits keep coming. They fell in 2025, from €63.6 million to €22.4 million. bunq's annual report does not publish its full Pillar 2 requirement, so we compare it with the EU minimum and buffers rather than its own target.

Liquidity is the strong side. €4.07 billion of €9.05 billion in assets sat at central banks, and the LCR of 350% means bunq could cover more than three times its modelled outflows in a 30-day stress.

The anti-money laundering record

DNB examined bunq several times between 2018 and 2023 and found breaches of Dutch anti-money launderingAnti-money launderingThe rules and checks that stop criminals from moving illegal money through banks, payment firms and crypto exchanges.More in the glossary law that it called severe and culpable. It took enforcement action more than once, including an earlier fine. On 6 May 2025 it imposed a punitive €2.6 million fine because bunq failed to follow up warning signs in four high-risk customer files from January 2021 to May 2022. bunq says it takes its gatekeeper role seriously and disputes the decision. DNB rejected its objection in October 2025, and bunq appealed to the court in November 2025.

For depositors, the practical effect is account reviews: banks under AML pressure tend to freeze accounts while they ask for documents. Keep your ID and proof of income ready if bunq asks.

The US charter refusal

bunq applied for a US national bank charter in January 2026, its second attempt after withdrawing an application in 2024. On 4 August 2026 the Office of the Comptroller of the Currency denied it, saying bunq never clearly explained how its proposed $50 million of starting capital would be funded and that loan loss assumptions were unsupported. This does not affect European deposits, but it is a regulator's view of management and planning.

How to keep money safe at bunq

1. Stay under €100,000 per person at bunq, counting all sub-accounts and savings together.
2. Treat stocks and crypto in the app as investments, not savings.
3. Turn on app notifications for every payment and block your card in the app as soon as something looks wrong.
4. bunq only contacts you through the app; treat calls or emails claiming to be bunq as scams.

How we scored it

Liquidity (82) and deposit protectionDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary (78) are bunq's strongest factors: a full EU deposit guarantee and a balance sheet heavy with central bank cash. Conduct (52) is the weakest, reflecting DNB's repeated AMLAnti-money launderingThe rules and checks that stop criminals from moving illegal money through banks, payment firms and crypto exchanges.More in the glossary findings and the 2025 fine. Capital (66) balances a high CET1 ratioCET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary against a thin leverage ratioLeverage ratioA bank's Tier 1 capital divided by its total exposures, without adjusting for risk. It is a simple backstop to risk-based capital rules.More in the glossary, no credit rating and falling profit.