BUNQ launches Travel Card

The Dutch mobile bank Bunq enriches its offer with a new entry-level bank card called “Travel Card” – a free card for payments in foreign currency.

Bunq has shown its originality with “Travel Card”, a Mastercard credit card specifically for travelers that allows you to pay and withdraw money abroad without any exchange fees. There is no fee on foreign transaction; Bunq simply applies the Mastercard exchange rate, without margin. Though there is no monthly charge for using the credit card, you still have to pay €0.99 per ATM withdrawal. The card itself costs €9.99. The Bunq app lets you freeze and unfreeze your travel card.

Though the card is being called a ‘credit card’, you have to top up your Bunq account before using the card and overdrafts are disabled. This essentially means that you can only use it for the money you have in your account. You can set up transaction limits and also get notified every time a transaction is processed.

The card can be reloaded using money from another accounts. Bunq allows immediate reloading of the account, using another bank card. But it costs 0.5% of the amount credited. It is also possible to deposit by SEPA transfer; free of charge but with a delay of 24 to 48 hours.