Bunq offers one of the best instant-access savings rates available to Irish savers. Here's everything you need to know.
Bunq at a Glance
| Feature | Detail |
|---|---|
| Interest Rate | 2.01% (up to 2.51% with bonus) |
| Maximum | €100,000 |
| Access | Instant |
| Protection | Dutch DGS (€100,000) |
| Fees | Free account available |
| App Quality | Excellent |
Current Bunq Savings Rates
| Account Type | Base Rate | Bonus Rate | How to Get Bonus |
|---|---|---|---|
| Easy Bank (Free) | 2.01% | Up to 2.51% | New deposits above 6-month threshold |
| Easy Money (€3.99/mo) | 2.01% | Up to 2.51% | Same |
| Easy Green (€18.99/mo) | 2.16% | Up to 2.66% | Higher base for eco account |
Understanding the Bonus Rate
Bunq's "bonus" rate can be confusing:
- Base rate: Applies to existing balance
- Bonus rate: Applies to NEW savings above your balance from 6 months ago
Practical advice: Don't chase the bonus. The base 2.01% is excellent for instant access.
Why Choose Bunq?
1. Best Instant Access Rate
At 2.01%, Bunq beats:
- AIB (0.25%)
- BOI (0.10%)
- Trade Republic (2.00%—slightly lower)
- Revolut Standard (1.50%)
2. Genuinely Instant Access
No notice period. Withdraw anytime via:
- Bank transfer
- Bunq card (if you have one)
- Apple Pay / Google Pay
3. Multiple Savings Accounts
Create separate accounts for different goals:
- Emergency fund
- Holiday savings
- House deposit
- Car fund
All earn the same rate.
4. Free Account Option
"Easy Bank" is completely free:
- €0/month
- 2.01% on savings
- 1 bank account
- Bunq debit card
5. Excellent App
Bunq's app is genuinely good:
- Clean, modern interface
- Real-time notifications
- Easy account management
- Available iOS/Android
Is Bunq Safe?
Yes. Bunq is a fully licensed EU bank.
| Safety Factor | Detail |
|---|---|
| Bank License | Dutch banking license |
| Regulator | De Nederlandsche Bank |
| Deposit Guarantee | Dutch DGS |
| Protection | €100,000 per person |
How Does This Compare to Irish Banks?
Identically. The EU Deposit Guarantee Directive ensures:
- €100,000 protection across all EU banks
- Payout within 7 working days if bank fails
- No difference between Dutch and Irish guarantee
Opening a Bunq Account
Requirements
- Smartphone (iOS or Android)
- Photo ID (passport or national ID)
- Resident in supported country (Ireland ✅)
- 18 years or older
Step-by-Step
- Download Bunq app from App Store / Play Store
- Choose account type (Easy Bank for free)
- Verify identity with photo ID + selfie
- Wait for approval (usually minutes to hours)
- Get your IBAN (Dutch IBAN starting NL)
- Transfer money from Irish bank
- Start earning 2.01% immediately
How Long Does It Take?
- Account approval: Usually under 24 hours
- First transfer: Same day or next day
- Total time: Can be done in one afternoon
Transferring Money to Bunq
From Irish Bank (AIB, BOI, etc.)
- Log into Irish bank
- Add Bunq as new payee (use your NL IBAN)
- Transfer desired amount
- Money arrives same day or next morning
Fees
- SEPA transfers: Free (standard euro transfers)
- Bunq doesn't charge for incoming transfers
- Your Irish bank typically doesn't charge for SEPA
Bunq vs Competitors
Bunq vs Trade Republic
| Factor | Bunq | Trade Republic |
|---|---|---|
| Rate | 2.01% | 2.00% |
| Max earning | €100,000 | €50,000 |
| Free account | ✅ Yes | ✅ Yes |
| Multiple savings pots | ✅ Yes | ❌ No |
| Investment features | ❌ No | ✅ Yes |
Choose Bunq if: You want pure savings with organisation features Choose Trade Republic if: You also want to invest
Bunq vs AIB
| Factor | Bunq | AIB Demand Deposit |
|---|---|---|
| Rate | 2.01% | 0.25% |
| After DIRT | 1.19% | 0.15% |
| On €50,000 | €593/year | €74/year |
| Access | Instant | Instant |
| Protection | €100,000 (Dutch) | €100,000 (Irish) |
Bunq pays 8x more on lump sum savings.
Pros and Cons
Pros
✅ Best instant access rate (2.01%) ✅ Free account option ✅ Dutch banking license (full EU protection) ✅ Excellent app ✅ Multiple savings pots ✅ DIRT handled automatically ✅ No notice period
Cons
❌ Dutch IBAN (some Irish services prefer IE) ❌ No branches (online only) ❌ Bonus rate system is confusing ❌ No investment features ❌ Premium tiers expensive for just savings
Verdict
Rating: 4.5/5
Bunq offers the best instant-access savings rate available to Irish savers. The app is excellent, the free account includes everything most people need, and your money is fully protected by EU deposit guarantee.
Recommendation: Move your lump sum savings from AIB/BOI to Bunq. Keep your Irish account for daily banking and direct debits.
Last updated: January 2026