Bunq blocked account

[Logann]

I was trying to deposit money to Binance from my TW account through Bunq. I have sent 10 and 1000 eur through Bunq to my Binance account. They were instant payments with no issues. Later I have sent 5000 eur to Bunq and was trying to deposit to Binance. After few hours my account was blocked and payment cancelled. Also I have received a refund to my original payment method TW with the description "Refund because of closed bunq account". But the issue is that refund amount is 5 eur. Is this some kind of a slap in the face?
I have contacted customer support and many times asked directly about 5 eur refund. What was the purpose of this refund and all the time I am getting generic reply I have posted below. Do these guys ever refund customers money? Should I expect any refund in the future?

Thanks for reaching back to us!

As a bank we are legally required to protect our users and the integrity of the banking system. Therefore, we continuously monitor our users’ transaction activity as required by law to prevent any misuse of accounts.

As a result of our review of your transaction activity, our Compliance team concluded that the payment behaviour on your account was not in line with the expected use of our services and our Terms and Conditions. We have to inform you that we are no longer able to offer our services and we have to close your bunq account in line with Chapter 50 (Chapter 48 for Business) of our Terms and Conditions: Terms and Conditions

We may hold your funds after the closure of your account to cover any debts to us, payments that you approved before your account was closed or legitimate claims and rights of third parties.

Your understanding would be much appreciated!

 

[MrYellow]

Your issue is not to buy bitcoins from bunQ twitch your credit card, this you can buy 100.000€ in one day without a problem.
You the the standard money laundry way : send money from TW to bunQ then use this money to swap over to bitcoins. This will fail on almost every EMI it’s not bunQ related. Try this on revolut and you are even faster out as you can imagine. It’s your method and way of doing it which is wrong. So your method will fail on almost every EMI.

 

[Logann]

Got a reply finally so hopefully will get my funds back within months. In my opinion Bunq should have asked for the proof that funds are coming from the legal source. Instead of blaming for the violation of Terms and Conditions.

An investigation was open and the responsible department will decide if they will send the remaining funds back to the sender or to another IBAN but they can take months to decide it. In the meantime, the funds will remain in the account.

 

[Logann]

Also by the way straight after signing up I have filled questionnaire that by account will be funded by another account I own and payments will be made into crypto investments.

 

[Fred]

Regarding the refund I'm sure this was a mistake from Bunq.

Regarding the account closure it's because you deposited from an EMI. EMI's and fintech banks doesn't like it when the money is send by other EMI. .

Just make sure you send next time from real bank to an EMI or some kind of online bank like Bunq.

 

[klsmsk]

Hi,

I am in the same situation, have you recovered your funds since the closing because they asked me 1 day after the closing to give me an iban and a name for the return of the fons the next day I had a transfer of 20 € on the 10K €
I contacted them and they told me that they were going to transfer the remaining funds to me as quickly as possible but now 3 working days I have nothing.

 

[Logann]

I have just checked my last question to support team in Bunq app on April 7. They told me I can login to Bunq and provide them my IBAN to withdrawn remaining funds. However there is no linked phone/e-mail addresses to my bunq account. I have to provide my e-mail address to login into the banking app.

 

[klsmsk]

Alright, so they will return the funds to you after you provide them with your iban.

 

[Logann]

Yes, but right now I cant login. I have no idea why there is no linked phones/mails to my bunq account. I hope they will help to access my account and transfer funds to forget this nightmare.

 

[Kol019201]

Yes, but right now I cant login. I have no idea why there is no linked phones/mails to my bunq account. I hope they will help to access my account and transfer funds to forget this nightmare.

Bunq is very responsive in this matter and you can always contact them via email as well and they will help you.
Just write them everything and then you can handle it via email support. You will get your funds back.
They are way worse EMI's out there that take weeks to respond if you have a blocked or frozen account.

 

[JohnLocke]

If I understand it all correct, you should have been refunded 5000 EURO but they refunded you 5 EURO and every request you make get answered with a standard email reply like the one you posted?

 

[12345]

Regarding the account closure it's because you deposited from an EMI. EMI's and fintech banks doesn't like it when the money is send by other EMI. .

Thanks I didn't know about it. Transferwise seems to be connected to bunq somehow because transfers tw -> bunq are instant. Do you think if I deposit from transferwise to personal bunq and then spend it on online shopping with known shops like bol.nl will it result in freezing my account? Amount around 5000 EUR a month

 

[Fred]

Thanks I didn't know about it. Transferwise seems to be connected to bunq somehow because transfers tw -> bunq are instant. Do you think if I deposit from transferwise to personal bunq and then spend it on online shopping with known shops like bol.nl will it result in freezing my account? Amount around 5000 EUR a month

That's because both support SEPA Instant.

If you spend with the card shouldn't be a problem.

 

[kkein]

Regarding the refund I'm sure this was a mistake from Bunq.

Regarding the account closure it's because you deposited from an EMI. EMI's and fintech banks doesn't like it when the money is send by other EMI. .

Just make sure you send next time from real bank to an EMI or some kind of online bank like Bunq.

never had any problem sending from TW to Revolut..

 

[Fred]

never had any problem sending from TW to Revolut..

You will run into problems if your frequently receive medium 4 figures from an EMI to an EMI and sending again to other EMI.

As long as one physical bank is in the chain involved or you spend from one EMI in the scheme above with a debit card then it should be fine.

Again if you don't use the EMI debit card organic and simply withdraw every day the max ATM limit you will run into problems.

Always talking about significant numbers. Forget the above if you deal monthly below 1000€.

 

[Dan14]

Hi, am having the same issue with bunq. I was sent money from a physical bank to my bunq account, a few minutes after I receive the money I made a transfer to my friend revolut acct but some hours later, money was back to bunq and my account was blocked immediately. Tried reactivating the account but nothing, so I wrote them an email. No response yet.

do these guys ever refund or what’s should I be expecting ?

 

[sarukasm]

They close my account and leave for themselves 2107 euros. Even i have all prof of them money. this is how they make bilions.

 

[uplana]

They close my account and leave for themselves 2107 euros. Even i have all prof of them money. this is how they make bilions.

Don't think so it's how they operate!

do these guys ever refund or what’s should I be expecting ?

try call their support, it would make good sense.

Most of such issues happen because of the already listed reasons by fred

You will run into problems if your frequently receive medium 4 figures from an EMI to an EMI and sending again to other EMI.

As long as one physical bank is in the chain involved or you spend from one EMI in the scheme above with a debit card then it should be fine.

Again if you don't use the EMI debit card organic and simply withdraw every day the max ATM limit you will run into problems.

Each case is different so it's difficult for someone here to answer why your account god closed or if you get your money back.

 

[fredouille1973]

Regarding the refund I'm sure this was a mistake from Bunq.

Regarding the account closure it's because you deposited from an EMI. EMI's and fintech banks doesn't like it when the money is send by other EMI. .

Just make sure you send next time from real bank to an EMI or some kind of online bank like Bunq.

exactly, and TW is flagged as well as it is a washing machine. EMI to EMI is not an issue , no issues most of the time