Challenger bank Bunq rolls out Spanish IBANs

Amsterdam-based neobank Bunq is expanding its service to include a new range of new solutions. As part of that move, the firm is now allowing its Spain-based customers with Dutch, German, and French bank account numbers to get a Spanish IBAN.

To access this greatly needed offering, Bung users are required to pay a one-time fee of €9.99 every time they add a new local IBAN.

Bunq is also following the lead of other fintech firms like Revolut, Wise, Vivid Money with a new planned offering that will allow users to receive, keep, and convert other currencies. Bunq is starting with USD accounts with plans to add more currencies down the road.

Through the Bunq app, the users can now receive alerts before direct debits, view subscriptions, search using an upgraded search tool, and also receive direct debits and payment requests from friends. 

Bunq plans to raise US$228 million (€193 million) at a $1.9 billion valuation (€1.6 billion), through a funding round that is yet to be accredited by Netherland’s apex regulator. 

Bunq has operations in 29 European markets and has processed over €1 billion in user deposits.