Cancel a bunq business account
If you want to close your business account with Bunq, it is important that you know exactly which actions you need to take, which conditions Bunq applies, and what you should pay attention to. Because you receive limited information about the cancellation process of Bunq business accounts, in this article we provide both the known steps and the matters you need to verify yourself. This helps you avoid surprises and allows the cancellation to proceed as smoothly as possible.
How do I cancel my bunq business account?
The step-by-step plan below is based on information Bunq makes public and provides information on how to close a business account. Because specific business rules may differ, we advise you to check any additional conditions in your contract with Bunq.
1. Log in to the Bunq App via your business account and check the current balance
According to Bunq, the balance must be exactly €0.00 before the account can be closed. In addition, there must no longer be any scheduled payments, payment requests, iDEAL incoming payments, or active cards linked to the account.
2. Save all relevant documents before submitting the cancellation
Download bank statements, annual statements, and exports of your bookkeeping. Bunq's help site states that after closure, you will lose access to the old account.
3. Check whether your business account has linked products
Think of business debit cards, subscription fees, direct debits, or external integrations. Make sure these have been stopped or transferred to another account so that the account is fully “clear” to cancel.
4. Submit the cancellation request via the Bunq App
In the help section, Bunq indicates that in the app you can go to “Settings” to close your account. Because Bunq does not publish separate steps for business accounts, you follow the same closure procedure as for personal accounts. The app guides you through the process step by step.
5. Wait for confirmation
Bunq indicates that you can definitively close the account within approximately 60 days and that you can still temporarily reopen it within that period. Check whether you receive confirmation and whether the remaining balance has been transferred.
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How long does it take for your business account with bunq to be closed?
bunq states that an account can be “archived” and reopened within 60 days, after which the account is permanently closed. For business accounts, no exact timeframe has been made public. The duration depends on meeting all conditions: balance at zero, no outstanding obligations, no linked services. We advise you to allow for several days to a few weeks for complete closure.
Are there any costs associated with closing a business account with bunq?
There is no clear information available on bunq’s website about fixed charges for closing a business account. The terms do state that you can terminate the agreement at any time. Because the fee structure for business accounts is not explicitly stated, it is advisable to check your latest invoices for any outstanding subscription fees or service charges that you need to pay before the account can be fully closed.
Cancel business account with other providers
You are now familiar with the steps involved in closing your business account with Bunq. Because this process may differ at other banks, it is worth checking your bank's specific cancellation terms. Would you like to know how to close a business account at other banks?
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FAQ
Frequently asked questions about cancelling a BUNQ business account
Can I reopen my bunq business account after cancellation?
What should I do with payment cards and authorisations for my business bunq account?
Will my balance be transferred in full if I close my business bunq account?
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