Bunq Travel Card
Bunq has premium account that comes with a €7.99 monthly fee – but here we are just comparing Revolut with the bunq Travel
With the Bunq Travel card there are no fees on spending inside or outside the Eurozone.
The Bunq travel card has a maximum €50,000 daily spending limit. The default is €1000 per day but you can reduce or raise this at any time in the app
One useful feature of the bunq Travel
No Irish government stamp duty is charged and no credit checks are required.
ATM fees with Bunq are 99c each – but with a large maximum daily withdrawal limit of €500 you won’t need to use it much.
Bunq has a full EU banking licence (unlike Revolut) and all funds are covered by the Dutch bank guarantee.
The functionality of the bunq Travel Card app is fairly basic – it’s not a full-blown banking app. But if you just want access to a payment card that has no foreign spending fees – then it’s ideal.
There is a one-off fee of €9.99 to order the bunq travel card.
With a Revolut
There is a
Using the Revolut prepaid debit card you can spend, transfer or exchange up to €5,000 in total every month (a 0.5% fee applies after this).
Free ATM withdrawals are limited to the first €200 each month, after that a charge of 2% is added.
Direct Debits are also possible with Revolut .
You can apply for a Revolut card here
|Features||Revolut||Bunq Travel Card|
|Full Banking Licence?||No||Yes|
|Account Currency||Euro / GBP||Euro|
|ATM Withdrawals in Ireland||First €200 each month is free then a 2% charge||99c each|
|Non Euro ATM withdrawals outside Ireland||First €200 each month is free then a 2% charge||99c each|
|Foreign Currency Spending||First €5000 worth of spending a month is free – then a 0.5% fee||No fees|
|Spending Limits||€5000 in 96 hours||€50,000 daily.|
|Can be operated from PC/Laptop as well as Smartphone ?||No||No|
|Top up with another debit card?||Yes||Yes - 0.5% fee|
|Age Limit||18||16 = with parental approval|
|Debit Card Type||Visa (Prepaid)||Mastercard (Prepaid Credit)|
|Exchange rate||Interbank rate on weekdays but 0.5% worse on weeekends||Mastercard Rate|
Revolut and bunq Exchange Rates Compared
When spending outside the Eurozone – the bunq Travel Card uses Mastercard’s exchange rates.
Revolut says they use the “Interbank” rate – but the difference appears to be very small overall.
We did a check on a small sample of dates comparing Mastercard’s rates Vs the Interbank rate as used by Revolut.
(For the interbank rate we used the rates provided by Xe.com who state that all their figures are based on live mid-market rates.)
We did a check on 14 random dates in 2019 – including 4 weekend days. We looked at purchases made in Sterling using a Euro currency card.
On average – on
So that would mean purchases totalling £100 would cost you €0.26 cents more using a Mastercard compared to the Interbank rate used by Revolut.
A spend of £1000 would cost €2.65 more with the bunq Mastercard than Revolut. (On weekdays)
Weekend Exchange Rates
But – If you did all your spending on Revolut on a Saturday and Sunday , based on our small survey, it could cost you on average 0.224% more with Revolut than using a bunq Mastercard. (€2.24 on a £1000 spend).
Both bunq and Revolut are useful for spending in foreign currencies and avoiding the transaction / conversion fees charged by the “mainstream” Irish banks.
With Revolut using Visa and bunq using Mastercard – you are covered if there are problems with one of the payment
Maybe having both cards might be an idea – use Revolut in the week and Bunq at weekends?
If you need to receive payments in Non Euro currencies – then Revolut is better than bunq . But if it’s just for spending in non Euro currencies – then there isn’t much to choose between them.
The very highy daily spending limit on bunq and the fact that it is backed by the Dutch banking guarantee might give bunq the advantage for bigger spenders.
Read about Monese – another payment card available in Ireland.