Bunq launches ‘Local Currencies’ to deliver a truly international bank account for a new era

bunq has today announced the launch of its new ‘Local Currency’ account, allowing users to easily receive, convert, hold and spend multiple currencies for the first time.

The move follows the addition of German, French and Spanish IBANs to the bunq app earlier this year, allowing bunq users to secure a local IBAN regardless of where they live or work.

Now, the Dutch challenger bank has added the ability to hold, convert and receive different currencies, all in the same app, without a separate onboarding process. In other words: a truly international bank account for a new era.

Today a freshly empowered post-pandemic wave of workers and entrepreneurs are choosing to break the link between place and paycheck. bunq is answering the needs of this new generation, giving them the freedom to do whatever they want, wherever they want, with whomever they want. Without the hassle of money admin.

At other banks, getting a local IBAN requires being resident in a country and registering a completely new account. With bunq, international businesses, digital nomads and those with commitments overseas can now bank across borders, holding a ‘Local Currency’ account and IBANs from multiple European countries all in one app.

Ali Niknam, founder and CEO of bunq, commented: “We’re truly excited to launch our ‘Local Currency’ account today. This will bring huge benefits to all bunq personal and business users, giving them the freedom to easily use multiple currencies without ever having to leave the bunq app.”

The Dutch challenger bank has partnered with Currencycloud, a leading provider of cross border payments, to launch the feature. In addition to the euro, all bunq users can now send and receive US dollars, British pounds, Swiss francs, Bulgarian Lev and Polish złotys from friends, family and business partners overseas.

bunq will add more currencies to its offering later this year. In line with bunq’s history of closely involving its users in the development of new products, these currencies will be selected directly by bunq users, through feedback online and in the bunq app