Amsterdam-based bunq BV has submitted a fresh application to establish itself as a bank in the United States. The company filed for a national bank charter with the Office of the Comptroller of the Currency (OCC) on January 6, 2026, marking its second attempt in recent years. This development comes approximately two years after bunq pulled back from a similar bid during the administration of former President Joe Biden.
bunq, founded in 2012 by entrepreneur Ali Niknam, has grown into one of Europe’s leading digital banks, often hailed as the continent’s second-largest neobank.
With a full European banking license from the Dutch central bank, bunq offers innovative mobile banking services focused on user convenience, including multi-currency accounts, instant payments, and AI-driven financial tools.
The company’s mission is to “break through banking” and simplify money management for individuals and businesses.
By 2025, bunq reported a fairly solid financial performance, with profits surging 65% year-over-year to €85.3 million, largely driven by higher interest income amid favorable economic conditions.
Its subscription-based model provides tiered plans with features like automated budgeting, investment options, and travel perks, appealing especially to digital nomads and young professionals.
The neobank’s initial foray into the US market began in 2023 when it applied for a federal bank charter.
However, bunq withdrew that application in early 2024, citing procedural hurdles and coordination challenges between its home regulator in the Netherlands and US authorities, including the OCC and the Federal Deposit Insurance Corporation (FDIC).
A spokesperson at the time described the pullback as “merely procedural,” emphasizing that the company remained committed to entering the American market once obstacles were resolved.
Industry observers noted the broader difficulties for new entrants, or “de novos,” in securing US banking licenses amid stringent regulatory scrutiny during that period.
Seemingly undeterred, bunq pivoted to alternative entry strategies. In October 2025, it secured approval from the Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer in the US, a key milestone that allows the firm to offer investment services to American customers.
This approval was driven by demand from bunq’s existing users who frequently travel, work, or reside in the US, seeking seamless cross-border financial solutions.
The broker-dealer status positions bunq to provide brokerage accounts, paving the way for broader banking integration.
Now, with the reapplication, bunq aims to build on this foundation.
CEO Ali Niknam expressed optimism, stating in a recent interview that the timing represents “a unique opportunity” for the company to expand its footprint.
Analysts suggest the shift in the US political landscape post-Biden may have created a more favorable regulatory environment for foreign fintechs, though Bunq has not explicitly linked the decision to administration changes.
If approved, a US banking license would enable Bunq to offer insured deposits, loans, and other core banking products directly to American consumers, intensifying competition in the crowded neobanking space dominated by players like Chime and Revolut.
bunq’s focus on tech-savvy millennials and Gen Z users—through features like AI chatbots for financial advice—could differentiate it in a market where digital innovation is key.
This expansion aligns with broader trends in fintech globalization, as firms like Nubank also pursue US charters to tap into the world’s largest economy.
For bunq, success in the US could boost its valuation and user base, currently exceeding 12 million across Europe.
However, the approval process remains rigorous, often taking 12-18 months, with potential scrutiny over capital requirements, anti-money laundering compliance, and consumer protection.
As bunq awaits regulatory feedback, this reapplication underscores the resilience of fintech challengers in navigating complex international environments.
It also highlights the growing appeal of the crowded US market for digital banks seeking to disrupt traditional finance.