bunq Easy Bank Card
We are taking a look at how the Bunq Easy Bank account compares with Revolut Plus. Both have a €2.99 monthly fee.
bunq is another of the new digital banks available in Ireland. It is similar to other digital banking services such as Revolut and N26. Bunq has been available in Ireland for a couple of years – but in 2022 they started allowing new Irish customers to have an Irish IBAN.
This might help avoid some of the problems caused by some companies in Ireland not being able to cater for non-Irish IBANs.
bunq is based in the Netherlands and has a full EU banking licence and all funds up to €100,000 are covered by the Dutch bank guarantee.
ATM fees with bunq are 99c each for the first 5 a month – after the first 5 it’s €2.99 – but with a large maximum daily withdrawal limit of €500 you won’t need to use it very often.
Spending with the Bunq card in a non-euro currency will use the Mastercard Exchange Rate with a 1.5% foreign exchange fee and a 0.5% network fee. (Total 2%)
- Direct Debits are possible with a Bunq account.
- 1 Free physical Card (Mastercard Credit ** or Maestro Debit,)
- Apple/Google Pay ,
- 5x ATM withdrawals a month for €0.99 each Then ATM withdrawals are €2.99 each .
- Aannual interest of 0.09%
- Direct Debits
- Split receipts
- Joint account (two Bunq account holders can have a joint sub account with its own IBAN)
Bunq can also be used by under 18’s with parent/guardian permission.
** The bunq card , is a prepaid Mastercard credit card. But ,unlike a real credit card,- you can’t spend more than your balance. Every payment will be immediately deducted from your balance. But the card will be accepted like a credit card for for things such as car hire and hotel reservations,
The Bunq IE Iban is BUNQIE22XXX – Once you have the app set up you can get your Irish IBAN by clicking on the Event tab on your Home screen.
Bunq also has an Easy Money account which has a few extra features and lower usage fees – but it comes with an €8.99 monthly fee.
Revolut Plus
With a Revolut Plus account, you get a Lithuanian IBAN and a UK GBP account.
Revolut can accept incoming payments in several currencies which might be useful for some people.
Using the Revolut Plus debit card you can spend/exchange up to €1,000 in other currencies every month for free. Anything over €1000 is charged a 0.5% fee .
ATM withdrawals with Revolut Plus – .
If you exceed €200 total withdrawn in a month you will be charged 2% of everything over €200. (Min fee €1)
Direct Debits are also possible with Revolut.
Since March 24th 2022 , Revolut is now operating as a fully licenced bank in Ireland and funds of up to €100,000 are guaranteed by the Lithuanian State company Deposit and Investment Insurance.
All new customers joining Revolut from 13th Feb 2023 will be given Irish IBANs.
Share dealing on the New York Stock Exchange is also possible with over over 750 US stocks available. Fees apply.
Revolut Plus also allows you to trade in cryptocurrencies such as Bitcoin, Ether or Stellar. Join Revolut Here
| Features | Revolut Plus | Bunq Easy Bank Acc |
|---|---|---|
| Full Banking Licence? | Yes | Yes |
| Monthly Fee | €2.99 | €2.99 (30 day free trial) |
| Account Currency | Euro / GBP | Euro |
| IBAN | Lithuanian | NL - but IE possible |
| Card Delivery | Free | Free |
| ATM Withdrawals in Euro | First €200 each month is free then a 2% or €1 charge. | First 5 a month 99c each then €2.99 each. |
| Non Euro ATM withdrawals outside Ireland | First 5 / €200 each month is free then a 2% or €1 charge. | First 5 a month 99c each then €2.99 each. |
| Foreign Currency Spending | First €1000 worth of spending in a month is free – then a 0.5% fee | 2% Fee |
| Spending Limits | €5000 in 96 hours | €50,000 daily. |
| Apple Pay | Yes | Yes |
| Google Pay | Yes | Yes |
| Direct Debits | Yes | Yes |
| Can be operated from PC/Laptop as well as Smartphone ? | Partial | Yes |
| Top up with another debit card? | Yes (Free) | Yes -First €500 a month is free than a 0.5% fee forr EEA cards or 2.5% for non-EEA cards. |
| Age Limit | 18 - but two junior accounts can be linked. | 16+ = with parental approval |
| Debit Card Type | Visa | Mastercard |
| Exchange rate Used | Interbank rate on weekdays but 1% worse on weeekends. | Mastercard Rate |
Summary
Revolut Plus ismuch better for spending in foreign currencies and avoiding some of the conversion fees .
bunq will charge 2% in conversion fees – whilst Revolut will charge 0.5% on any foreign spending over €1000 in a month but spending under that amount has no conversion fees.
(See details of how much currency conversion the other Banks Charge Here)
If you need to receive payments in Non-Euro currencies – then Revolut Plus is also much better than bunq Easy Bank Account .
If you like the idea of dabbling in the stock market or investing in cryptocurrencies such as Bitcoin – then Revolut will allow you to do that .
Bunq having an Irish IBAN will help avoid the hassle caused by some Irish companies who can’t seem to cope with IBANs that are not Irish (even though ECB regulations say they should).
You should also consider N26 bank account. More here on N26 compared to Revolut.