US regulator rejects bunq's application for national bank license

The U.S. Office of the Comptroller of the Currency (OCC) has rejected a national bank license application from the Dutch fintech company bunq. The regulator cited "significant concerns regarding supervision and compliance" as primary reasons for the denial.

Specifically, the OCC noted that bunq failed to provide sufficient detail regarding its capital plans for operating safely in the U.S. market. The regulator also expressed reservations concerning management's experience with unsecured credit cards—a key product planned for the U.S.—and questioned the company's potential for profitability within the highly competitive American banking sector.

Despite this setback, bunq expressed understanding of the feedback and intends to refine its plans and reapply in the future. The company had previously secured a broker-dealer license from FINRA in 2025 and aims to focus its U.S. strategy on metropolitan areas with high concentrations of expatriates and digital nomads.