A proper Dutch bank
bunq B.V. holds a full Dutch banking licence from De Nederlandsche Bank, in force since 2014. It has been directly supervised by the ECB since 2023, a signal that the regulator considers it systemically relevant in its size class. Deposits up to €100,000 are covered by the Dutch DGS (Depositogarantiestelsel).
The discontinued top-up insurance
bunq had a voluntary top-up insurance above €100,000 (arranged with Swiss Re) for larger balances. This was discontinued in Q1 2026. The statutory DGS cover remains unchanged — so for balances up to €100k, nothing changed. For larger balances, you no longer have the extra private insurance. This is worth knowing; it is not a safety downgrade to the bank itself.
Regulator behaviour
DNB is one of the more conservative national regulators in the EU and has had zero enforcement actions against bunq in the 2024–2025 period. ECB supervision adds a second layer on top. Operationally, bunq is mid-table profitable and publishes annual accounts.
Verdict
bunq is as safe as an EU bank gets. Full licence, direct ECB supervision, proper DGS cover, established track record. If you have €100k or less in EUR, the protection is equivalent to ING or ABN AMRO.