Hey bunqers 🌈,

When a court declares you bankrupt or insolvent, you're no longer legally authorized to use your bank balances. The court communicates this to us and we’re legally obliged to block every monetary account in your name, including joint accounts and unlimited liable company accounts. All incoming payments continue to arrive safely in your account, but any outgoing payment is blocked while the court proceedings run. 

This isn't a block we can lift on our own. Your court-appointed administrator (called a curator in the Netherlands) is the only person who can ask us to unblock your accounts. We’ll always share their name and email address through a secure, in-app message, so you always know who you can reach out to. 

What do bankruptcy and insolvency entail? 

They're both court processes that start when your debts can't be repaid, and both end with a court appointing someone to manage your money instead of you.

• Bankruptcy is the term used in the Netherlands (faillissement). The person the court appoints is called a curator.

• Insolvency is the term used in Germany. The person the court appoints is called an insolvency administrator (Insolvenzverwalter).

The practical effect on your bunq account is the same either way, so this article uses administrator for both. What changes is which court and which public registry your case sits with.

Can I still receive money, and can I make payments?

Incoming payments still arrive, so anything sent to your account will arrive safely to your account, as usual. Outgoing payments are blocked for the whole duration of the proceedings, so you can't transfer, pay by card, complete direct debit payments, or withdraw cash. 

Your ability to make payments comes back once your administrator asks us to unblock the account. Your balance stays visible to you the whole time.

During the proceedings your administrator can instruct us to transfer your available balance, or part of it, to a dedicated account set up to resolve your case. Some administrators choose to leave an amount available for living expenses. We’re legally required to follow whatever the administrator instructs.

How do I find my administrator's contact details?

Your administrator's name and email address are in the message we send you when your insolvency is processed:

1. Tap your profile in the top left corner

2. Tap "See More" under Activity

3. Open the message about your insolvency, which contains your administrator's contact details

You can also look up your case in the official public registry for your country:

• 🇳🇱 Netherlands: insolventies.rechtspraak.nl

• 🇩🇪 Germany: insolvenzbekanntmachungen.de

• 🇫🇷 France: bodacc.fr

• 🇧🇪 Belgium: regsol.be

Why does everything have to go through my administrator?

Because you're no longer authorized to act on your own finances, we can't take any action on your account based on your request alone. Every instruction has to come from your court-appointed administrator.

So if you want your account unblocked, funds transferred, or your account terminated, your administrator contacts us directly. They can reach us at the email address they already have on file, at support@bunq.com, or by letter

We can't accept copies of documents or screenshots from you. Court orders and written verdicts have to come directly from your administrator or the court.

What happens step by step?

Four stages, and your account can be at any of them right now.

Step 1: We block your accounts and tell you

We learn about your case either from the public bankruptcy registry or from your administrator. Once we have the necessary documentation, we block all monetary accounts in your name, including unlimited liable company accounts and joint accounts, and immediately send you an in-app message to inform you about this order.

Step 2: Seizure, if your administrator asks for it

Your administrator can instruct us to transfer the available balance, or a set amount, to a dedicated account for resolving your case. In some cases, the administrator may choose to leave a certain amount available for living expenses. We’re legally required to comply.

Step 3: Unblocking your accounts

Your accounts are unblocked in one of two ways:

• A court order from the same court that declared the bankruptcy or insolvency confirms the proceedings have ended

• Your administrator contacts us directly with a request to reactivate your accounts, supported by the relevant court order

Step 4: Termination, if your administrator asks for it

Your administrator has the legal right to request permanent termination of your bunq account. If they do, we’re  legally obliged to comply.

When will my account be unblocked?

We will release your account back to you within 24 hours from the moment that we receive the court order confirming your proceedings have ended or an official request from your administrator.

We can't set that date of your account release, and can't speed the process up. As a third party, what we know about your case is limited to what your administrator and the court share with us. As such, your administrator is the only one who can tell you where the proceedings stand. 

When will my bankruptcy or insolvency end?

That's for the court and your administrator to decide, and we have no influence over the timeline. Once a judge rules on the release or the end of the proceedings, we need the written verdict from your administrator or the court before we can act on it.

A copy or a screenshot isn't enough. The written verdict has to reach us directly from your administrator or the court.

Can I close my bunq account permanently?

You can request this at any time, and we’ll coordinate the closure with your administrator.

My partner is bankrupt or insolvent, and we have a joint account

The joint account is blocked, because it falls under the proceedings. Any other monetary accounts in your own name that aren't tied to the proceedings stay open and work as normal.

How can I appeal?

Appeals go directly to your administrator. The administrators are the ones who can tell you what your options are for contesting the proceedings, and their contact details are in the in-app message we sent you when your insolvency was processed.

Our role is limited to acting on what your administrator or the court provides, so an appeal filed with us unfortunately can't change anything about the block on your bunq account.

Does this apply to WSNP in the Netherlands?

Yes. If you're admitted to WSNP (Wet Schuldsanering Natuurlijke Personen), the same process applies: your bank accounts are blocked and we can act only on instructions from your court-appointed administrator.