Hey bunqers 🌈,

To open your Business account, we ask every Ultimate Beneficial Owner (UBO) of your company to confirm their identity or sign the UBO form. 

What is a UBO?

A UBO, or Ultimate Beneficial Owner, is any natural person who ultimately owns or controls a company. The exact definition depends on your company type:

• Capital companies (e.g. BV, GmbH): anyone who directly or indirectly holds more than 25% of the shares or voting rights, or who has control over the entity

• Foundations and associations: anyone who holds more than 25% ownership, has voting rights exceeding 25% when amending the articles of association, or has control over the entity

• Partnerships: anyone who directly or indirectly holds more than 25% of ownership or voting rights, or who has control of the partnership

To finish setting up your bunq Business account, we’ll ask every person meeting this threshold to provide the necessary information. 

Why do we ask for this?

We need to identify the individuals who ultimately own or control your company. This helps us keep all accounts secure and ensure we always know who is behind a business — regardless of how many directors or shareholders are involved. 

I’m opening the Business account. What should I do? 

Share the verification link with your company’s owners and directors. Each UBO can open it to confirm their identity from there. Your account is ready to open once every UBO has completed their verification. 

If we asked you for a signed form

Download the UBO written declaration form, fill in every UBO, and have each of them sign it. Then, upload it in your bunq app. 

Keep in mind: every UBO named on the form has to sign. If one signature is missing, the form comes back and the account stays on hold until it's complete. 

I’m a UBO, how can I confirm my identity? 

If you get a link 

1. Open the link you got from the person opening your company’s Business account

2. Select your name from the list of owners and directors 

3. Follow the steps to confirm your identity with your ID card or passport 

4. You’re all set! 

Once all the UBOs of your company have confirmed their identity, the account is ready to open. 

If you got a form to sign

Sign the form the person opening the account sends you, and send it back to them. 

How do I know the link is safe to open?

This link will always come from the person opening your company's account. Keep in mind that we’ll only ever ask you to confirm your identity, and we’ll never ask for your PIN, a password, a payment, or access to your device or screen.

We'll never call you. If someone calls and asks you to move money, hang up immediately and  report it to us. 

Is my data safe? 

Yes. Your ID check runs through our verification partner, who encrypts your data and stores it securely.

We only use it to confirm who you are. As a European bank, bunq is required to check the identity of the people who own or control a business account, and that's the only thing this data is for.