Online banking bunq wants to expand to the US

Photo: ANP

Internet Banking wants to expand into the US and has applied for a banking license there. In the US, the Dutch bank wants to focus on European expats and international business people with interests in both the US and Europe. By offering multi-currency banking services, they can save the additional costs of exchange rates.

The bank points to the roughly 5 million European expats in the US and believes that with a little bread they can get what they are used to from a bank in Europe, while banks in the US are less transparent about their costs. “Bonck is striving for more diversity in the financial sector, so that people have the freedom to choose what works for them,” says Founder and CEO Ali Niknam. “We can’t wait to bring hassle-free banking to digital nomads in the US as well.”

Bonk Bank was founded in 2012 by Niknam and was the first bank in 35 years to obtain a European banking licence. The company, which has no offices but only an application, is now active in more than thirty countries in Europe. At the end of last year, the company closed its quarter at a profit for the first time.

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