Bunq submits application for US banking licence

Neo slope Bunq has submitted a ceremonial exertion to the US Office of the Comptroller of the Currency (OCC) for a de novo banking licence to present its banking services successful the US.

According to Bunq, prospective users successful the US volition person the enactment to unfastened some US and European checking accounts if eligible.

The slope besides said it volition let caller arrivals to usage their European fiscal records to assistance found recognition histories successful the US.

This determination comes soon aft Bunq received support from FINRA for a broker-dealer licence.

The challenger slope began seeking a US banking licence successful 2023 and subsequently obtained the broker-dealer authorisation.

Bunq’s exertion for a US banking licence coincides with continued enlargement efforts elsewhere, including an EMI licence exertion successful the UK and caller maturation successful idiosyncratic numbers globally.

bunq CEO and laminitis Ali Niknam said: “Our users are gathering their lives crossed borders, truthful they request a slope that is safe, unafraid and casual to use, wherever they are.

“We privation to springiness them the state to unrecorded the mode they want, whether they’re heading to America, coming to Europe, oregon moving betwixt both.”

In August past year, the Dutch Central Bank (DNB) issued a €2.6m (then $3m ) good against Bunq owed to “serious” shortcomings successful anti-money laundering procedures.

The DNB probe recovered that Bunq failed to comply with The Anti-Money Laundering and Anti-Terrorist Financing Act during the play from January 2021 to May 2022.

Bunq presently operates successful implicit 30 European countries and provides services successful 38 antithetic languages.

"Bunq submits exertion for US banking licence " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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