WITH SUMMER HOLIDAY season fast approaching, many Irish people will have their sights set abroad for at least a week of sun, sea and spending money. 

Many of us treat holiday spending almost like it doesn’t count. Who amongst us has not paid for a dinner in a foreign currency only to be stung later upon learning that the exchange rate wasn’t quite as favourable as we presumed?

If you’ve gone to the trouble of budgeting for a holiday, you don’t want to waste any money once you’re there. The bunq app can resolve this problem with a range of travel features to facilitate travel, working from abroad and a borderless lifestyle — and let you spend your money exactly how you want. 

What can bunq do for you?

By setting up an account with bunq, you can let one of Europe’s most popular digital banks take care of your spending worries. Through bunq, you can access regular banking features such as deposit accounts, money transfers and debit cards — but so much more, including market leading exchange rates, eSIMs and comprehensive travel insurance.

The bunq app comes with multiple travel features that make spending abroad a more seamless experience, helping you keep close track of your spending in whatever currency makes the most sense for you.

When spending in foreign currencies or transferring funds abroad, bunq gives you access to the best exchange rates through the platform’s ZeroFX feature. Instead of the usual 1.5% currency conversion fee charged by most traditional banks, you’ll get the real Mastercard exchange rate, meaning you really are getting the most bang for your buck when spending abroad. 

Additionally, the app enables users to spend in 21 different currencies, including pounds sterling, US dollars and Australian dollars.

Whenever you spend money abroad through bunq, you’ll be able to keep on top of what it means for your bank account — regardless of what currency you’re spending in.

This bank empowers you to bank like a local no matter where in the world you are. If your bank account is in euros, then every time you spend in a foreign currency the bunq app will let you know how much you’ve spent in euros. The app will also let you know how much money you’ve managed to save by exchanging your currency through ZeroFX. 

The money in your bank account is protected up to the amount of €100,000 by the Dutch Deposit Guarantee Scheme. The app also allows you to make instant transfers to anyone else with a bunq account, and user support is available in your language 24/7. 

One feature that separates bunq from many other banks is that you can install an eSIM through the bunq app, which means you can pick a local data plan that suits your needs rather than needing to worry about roaming charges or going over your data limit and getting charged large amounts of money for downloading a few megabytes of data.

This means you’ll connect to a local network as soon as you land, and have a much less stressful experience navigating your new surroundings by having a stable mobile data connection on your phone.

bunq does offer significantly more than just saving potential and exchange rates. Through its partnership with Qover, bunq users can access worldwide travel insurance, which covers medical emergencies, car rental, repatriation, baggage, cancellations and even active sports accidents. This travel insurance is included in your bunq Elite plan, and claims can be submitted through the bunq app.

Travelling abroad is not only made easier by bunq via sorting out your exchange rate and travel insurance concerns, the app can also give you tips on things to do wherever you’re visiting — with answers to burning questions like ‘Will I need cash where I’m going?’ or ‘Do I need to tip here?’

Setting up a bunq account is a simple way for you to cover all of your bases when spending money abroad. Accounts range from free to Elite, and you can compare the benefits of each account here to find one that best fits your needs.

To read through the bunq terms and conditions, click here.