Dutch online bank Bunq has entered Ireland, establishing a local presence in the country as KBC and Ulster bank withdraw from the market.
With the move, Bunq has become the first challenger bank in Ireland to offer direct debits and payments under an irish intternational bank account number (iban).
Bunq chief operating officer Gerlad Gruber, says: “By offering an extensive range of financial products and services, Irish people can now finally experience the true value of fintech as an alternative to traditional banking.”
Bunq had previously offered services in Ireland using a Dutch iban under the aegis of the Dutch central bank.
The direct move into Ireland follows bunq’s recent acquisition of Capitalflow, an Irish specialist business lender that employs over 75 people.