Amsterdam neo-bank Bunq has rolled out a local currency feature for digital nomads in its banking app.
Bunq users can now receive, convert, hold and spend in multiple currencies without having to leave the app. The first currencies available to users are dollars, pounds, Swiss franc, Poland złoty and Bulgarian levin, with more in the pipeline.
Introducing the feature, which has been undergoing trials with users since August, Bunq states: "Bank like a local by making payments in the local currency from your bunq account. Paying the rent in dollars is now possible without any intermediary, so you can really feel at home."
To make use of the service, users need to create a 'Local Currency' sub-account, which can then be linked to multiple European Ibans - regardless of residency - for sending and receiving payments.
Ali Niknam, founder and CEO of Bunq, says, “We’re truly excited to launch our Local Currency account today. This will bring huge benefits to all bunq personal and business users, giving them the freedom to easily use multiple currencies all in one app.”