bunq has applied for a new banking license in the United States through the Office of the Comptroller of the Currency (OCC), with plans to facilitate easier financial management for individuals who frequently travel or work between the US and Europe.

In light of this development, bunq’s service offerings are tailored towards digital nomads and other globally mobile professionals. These individuals often require more flexible and accessible financial solutions that current systems may not fully address due to design limitations that restrict mobility and access.

As part of its strategy, bunq intends to leverage secure digital payment methods, robust authentication processes, and advanced AI-driven fraud detection tools to enhance user protection in daily transactions and during travel scenarios.

Focusing on digital nomads and those with dual ties to Europe and the US

Upon receiving authorization, bunq plans to roll out its services initially in US cities with significant expat populations. These locations are chosen because they house a high number of users who live, work, and frequently move around.

In addition to offering financial services, bunq also aims to assist users in building their credit scores through the process of accessing European financial records. This feature will be particularly useful for newcomers who need to establish a credit history quickly.

Furthermore, for customers operating across borders, easy-to-use, secure, and efficient financial tools are essential. To meet this need, bunq intends to provide its users with options such as US and European checking accounts where eligible.

This move by bunq follows the neobank’s prior approval from the Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer in the US. This earlier step paved the way for bunq to introduce financial products like US stocks offerings, self-directed investing options such as mutual funds and ETFs, catering to users who manage their finances across both regions.