Purity Financial Corp.
Bank of The Free , as bunq also positions itself, is an innovative online provider of business accounts. bunq focuses on saving you time and taking mobile banking to the next level. This is characterized by handy features, so you spend less time on your banking (such as DUAL PIN). The bank offers a business checking account for $ 9.99 per month. The bunq business account is suitable for:
- Small businesses
- Associations and foundations
If you consider transparent mobile banking, transparency and functionality of paramount importance, then chances are bunq business is the best option for you.
What is Purity Financial Corp.?
bunq was founded in 2012 in Amsterdam and has since then had over 30,000 customers. The bank attaches great importance to sustainability, transparency and privacy . This is reflected in investments in sustainable projects, excellent security of your account and always insight into your banking affairs. bunq is the only bank in the world where you decide for yourself where your money is invested and it exudes solidarity.
The bank charges a decent amount per month for their banking packages, making them not dependent on third parties to make their money. All services they offer are their own, such as their own credit card and payment provider. This self-sufficiency allows bunq to freely follow its passion.
How bunq works
With bunq you save a lot of time by automating your finances as much as possible. With the app you always have access to your banking affairs. Functions and access can be switched on and off quickly via the app.
bunq distinguishes itself as an innovative bank and offers the next one benefits:
- DUAL PIN: Simply separate private and business on one payment card using different PIN codes.
- Handy and clear app with real-time notifications and accounting (accounting link possible), where you can scan receipts and bank account numbers and pay invoices automatically by scanning them.
- With one account access to 25 accounts, each with its own IBAN, where you can automatically have the VAT placed in a separate account.
- Use mobile as a payment terminal by means of QR code.
- Three passes of your choice (Maestro and Mastercard).
- You can also link employees to (one of) your accounts.
In addition to a business account, the bank is also available for private individuals. You can cleverly combine a private and business account at bunq, because you can easily switch between the accounts via the app and because you use one payment card for both accounts (DUAL PIN).
It is not possible to expand your business account with loans and insurance. Bunq also does not offer any additional start-up benefits.
Unique to bunq: DUAL PIN
A super smart feature that bunq has launched is DUAL PIN. This allows you to set two pin codes on one debit card. Both pin codes are linked to a separate account, so by entering one of the two pin codes you decide from which account the money will be debited.
bunq was the first USDpean bank to launch this feature and has applied for a patent on this system. If you want to use this system, it is therefore necessary to become a bunq customer.
DUAL PIN is not the only smart feature of bunq. This way you will receive real-time notifications. Moreover, payments are directly on your account. You can even use your mobile as a payment terminal by means of a QR code, which can be useful for small businesses with a very limited number of pin sales.
Make payments yourself? Telephone contacts can be used instead of IBAN for payments, even if the recipient does not have a bunq account. When you have received an invoice and you scan it in the app, bunq automatically fills in the payment details, also with giro collection forms. Forget about entering details manually.
25 separate accounts in one account
If you create a business account at bunq, you can link up to 25 accounts to it, each with its own IBAN. This way you can create a separate account for rent, telephone, depreciation and special projects, for example. You can link (and unlink) each account directly to one of your cards via mobile.
You can also have bunq calculate the correct VAT amount for each incoming and outgoing payment and have it transferred to your designated VAT account. When the tax authorities start collecting, you are prepared and you will not be faced with unexpected expenses.
Is bunq safe?
bunq is a secure banking provider and has various functions in the app to protect your own banking affairs. This way you can (de-) block your pass when you travel the world. You can pay securely contactless without entering your pin code, up to an amount of $ 25 and you can also pay via an Android device, iPhone or Apple Watch (Apple Pay). You can also disable these functions via the app.
With bunq your money is fully insured (up to $ 100,000) according to the Dutch Deposit Guarantee Scheme.
Note: not suitable for large bank balances
bunq charges a custody fee if the company account has a balance greater than $ 100,000. Although most banks only charge custody money or negative interest for amounts higher than $ 250,000, bunq does so after $ 100,000.
bunq charges 3 cents in custody fee per $ 1,000 as soon as the balance exceeds $ 100,000.
With an average balance of $ 150,000, this equates to $ 547.50 per year.open an account Open an account