Review and Test of bunq neo bank for Businesses

The ease of use and multiple benefits have made bunq neo bank a lot more popular than any other challenger banks. Since its launch in 2015, the bunq neo bank has earned the trust of their customers by providing secure and effortless banking. Dealing with euro dominant countries, the bunq has provided enormous support to small businesses. And in 2019 with its launch in the UK, the bunq neo bank is all set to support UK companies and customers with its great features.

Why opening a business account with bunq neo bank is beneficial?

The bunq neo bank have an insight of making money management smooth and accounts handling effortless. With its multiple advantages and significant features, it has helped numerous small businesses to grow. Here are a few benefits why you should consider bunq neo bank for opening your business account:

Business account features

Bunq offers multiple account types, with a business account of 9.99 euros/month. The account type is the best for new businesses in this digital era. With bunq neo bank business account you can get

  • Multiple sub-accounts linked to a single or your choice debit card.
  • The sub-accounts have different IBANs.
  • Free 10 ATM cash withdrawals every month
  • 100 euros every month deposit
  • Minimal cost of bank statements and data exports

Relief from manual bookkeeping

The bunq neo bank app allows you a relief from manual bookkeeping by linking with the bookkeeping apps. Once you link your business account with a bookkeeping app, you are free from managing it, and the bunq app will handle everything, and you can have an overview whenever you want.

Easy invoice payments

The bunq does VAT calculations on its own. It can do receipt scanning, tagging and archiving making invoice payments soft. The app can control instant and bulk payments without any significant hassle.

Employ access

The app offers instant employ access without any paperwork. With just a click you can create access of your employer to the account to deal the expenses within your control. And you can also revoke the actions immediately anytime you want.

Full-time notifications

Full-time notifications of all the actions being carried on your business account. You will be notified of each payment and deposit via mobile app. You can have an overview and link of your finances and business 24/7 with real-time notifications.

Interest rate

The interest rate provided by the bunq neo bank is high among other challenger banks. Therefore it is quite a good option for small businesses to get stable in a short period with maximum profit.

Difficulties with the bunq neo bank business account

No option for business loans and finance

The bunq neo bank is the right option for opening a business account, but you must know that the services will be dependent on your money, and there are no options of business loan and finance.

Sudden lockup of accounts

For larger payments, bunq investigates to its fullest to rule out any illegal actions and activities. Therefore when there is a deposition of immense amount, the accounts get locked for verification and investigation purpose. Although it is for good, but customers often find it bizarre.

Backlash in customer service

The customer service is available mostly all of the time but is only reachable via app in chat options. Therefore often it fails to answer the queries with desired solutions.

Final thought

Bunq neo bank is an excellent option for the people running online businesses or are freelancers. It fulfils the complete requirements of people with such companies. But for traditional errands and enterprises, you must think of all the available options along with bunq.