The second largest neobank in the EU rapidly scales across the continent and launches cashback and interest on savings in multiple currencies

Amsterdam, July 18, 2023 – bunq, the second largest neobank in the EU, continues to rapidly grow its user base across Europe. The challenger bank now counts 9 million registered users and has over €4.5 billion in user deposits. Today the company, aimed at digital nomads who spend considerable time abroad, announced it’s launching cashback (up to 2%) and savings interest in multiple currencies.

"Bringing up to 2% cashback to Europe is very exciting! On top of that we're introducing new savings accounts that give you up to 3.71% of interest!"

— Ali Niknam, founder and CEO of bunq

As one of the first European neobanks to reach profitability, bunq grew its user base from 5.4 million to 9 million in just over a year, with 50% of its user base directly contributing to the company’s revenue (for example, through subscription fees and interest income). In the last four months, the neobank doubled its user deposits, now standing at €4.5 billion.

Tonight at its bunq Update 23 event in DeLaMar Theater in Amsterdam, bunq announces new features designed to help location-independent and sustainably-minded users to effortlessly save money and have a tangible impact on the environment through banking with bunq.

2% cashback

bunq becomes the first EU neobank to launch the highest cash payouts for its users, allowing them to earn money while they’re spending with bunq. bunq will offer 1% back on food and drinks to all users with Easy Money and Easy Green – plans most used by digital nomads – and 2% back on public transportation to all Easy Green users.

Massive interest in multiple currencies: 3.71% on USD and GBP

Committed to building a borderless experience for its users, bunq now lets them save and receive interest in multiple currencies, giving them 3.71% interest on USD and GBP. bunq’s business users will get 2.3% interest on US dollars and British pound. This way, bunq’s location-independent users can grow their savings in whichever currency they prefer.

Insights into CO2 footprint from purchases

To help its users achieve real, traceable and tangible impact on the environment, bunq introduces a way to help its users track the CO2 footprint of their purchases. This way, they will be able to make educated choices when making day-to-day transactions.

Additionally, bunq partners with veritree, a data-driven restorative platform that prides itself on verifiable impact on the environment. In cooperation, the two companies commit to planting at least 5 million trees each year, allowing bunq users to more than double their green impact by 2025. Furthermore, users will now be able to see and follow the impact of bunq’s reforestation efforts through a dedicated dashboard, bunq’s Impact Hub.