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Challenger financial institution Bunq rolls out Spanish IBANs

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Amsterdam-based challenger financial institution Bunq is updating its service with a handful of latest options. Along with Dutch, German and French checking account numbers, current and new customers in Spain can now get a Spanish IBAN.

European IBANs are imagined to work throughout Europe. Your employer or web supplier can’t drive you to get an area IBAN. And but, that’s not often the case. If you transfer to a different European nation, chances are high the very first thing you do is that you just open an area checking account.

Whereas European fintech corporations have teamed as much as create a lobbying effort known as ‘Settle for my IBAN’, some challenger banks, resembling Bunq, are including the power to get native checking account numbers as an middleman repair. Bunq customers may also select to affiliate IBANs from a number of European nations with their account. It’s a must to pay a one-time payment of €9.99 each time you add a brand new native IBAN.

Bunq can be drawing inspiration from Revolut, Clever, Vivid Cash and others as you’ll quickly be capable to obtain, convert and maintain different currencies. As an example, if you happen to’re going to a non-Euro nation for an internship, it is possible for you to to obtain your wage in your Bunq account. Bunq is beginning with USD accounts with plans so as to add extra currencies down the highway.

Different new options embody the power to obtain reminders the day earlier than a direct debit happens, a subscription view that permits you to view present subscriptions and once they’re set to run out, an improved search function and the power to robotically settle for direct debits and cost requests from your folks — be sure to arrange a restrict earlier than enabling that function.

Bunq just lately introduced plans to lift $228 million (€193 million) at a $1.9 billion valuation (€1.6 billion). The funding spherical hasn’t been authorized by the Netherlands’ banking regulator simply but. Bunq is at present working in 29 European markets and has greater than €&billion in consumer deposits.

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