Banks & payments
bunq and crypto explained
bunq positions itself as a modern payment bank and has over time explored various ways to give users exposure to crypto, often through partnership with or referral to a specialised provider. The offering and its exact form change; check the current terms in the app.
What bunq is and isn't as a bank
bunq holds a European banking licence for current accounts and savings. That licence doesn't cover crypto custody or trading; a separate arrangement is needed, whether or not via an external partner operating under relevant crypto regulation.
For users an integrated feature in the app feels like one service, but legally it can involve two separate parties each with their own terms, complaints procedure and liability.
Custody and withdrawal
When crypto is offered through an integrated feature or partnership, it matters who actually holds the coins and under what conditions you can withdraw them to your own wallet.
A balance visible only in the app, with no clear withdrawal to an external address, is functionally a claim, not ownership with your own key. Ask explicitly if in doubt.
Transactions to external crypto platforms
Even without its own crypto feature, bunq remains relevant as a payment channel: a transfer to an external crypto platform runs through the account and is screened under anti-money-laundering rules, like at other banks.
A clear reference, a matching account name and building up in small steps for a new beneficiary reduce the chance of a delayed or refused transfer.
Costs that aren't always stated separately
With integrated crypto features the margin often sits in the price itself: you pay not just a stated fee but also a difference between the price you get and the market price at that moment. That spread is less visible than a separate fee.
For larger purchases, compare the price you receive against an independent market price to know what the purchase really costs.
Frequently asked questions
Does bunq itself hold my crypto?
That depends on how the feature is currently structured: sometimes via an external partner, sometimes not at all. Check the current terms in the app and ask who legally holds the coins.
Can I send crypto from bunq to my own wallet?
That depends on the exact setup of the feature at the time; not every integrated crypto feature offers direct withdrawal to an external address.
Why does bunq sometimes ask for clarification on a transfer to a crypto platform?
That follows from anti-money-laundering rules that apply to all banks, not from a specific ban on crypto at bunq.
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