TITLE: Dutch Authority for the Financial Markets Imposes Fine on Bunq for Delayed Complaint Responses
BODY:
On June 2, 2026, the Dutch Authority for the Financial Markets (AFM) imposed an administrative fine of €170,000 on bunq B.V. for failing to respond timely to seven customer complaints regarding online fraud. The AFM found that bunq exceeded the maximum response deadline in cases occurring between November 10, 2023 and December 12, 2023, and between April 23, 2024 and August 1, 2024.
Payment service providers are required by law to provide substantive responses to all complaint points within 15 working days of receipt. Bunq failed to meet this obligation across the seven cases examined. The affected customers, many of whom lost tens of thousands of euros to online fraud, experienced prolonged uncertainty while awaiting bunq's responses. The AFM determined that bunq's conduct fell short of the service standards customers were entitled to expect, particularly given the sensitive nature of fraud-related complaints.
The AFM noted that adequate and timely complaint handling is essential for maintaining confidence in the financial sector. AFM board member Jos Heuvelman said that customers must be able to rely on their concerns being taken seriously, especially when they have become victims of fraud.
Bunq voluntarily compensated the affected customers in full or in part, despite the law not requiring such compensation in these cases. The AFM considered this remedial action when determining the penalty. The base fine for the violation was €500,000; however, the AFM reduced it to €200,000 and applied an additional 15 percent reduction due to bunq's acceptance of simplified settlement procedures, resulting in the final fine of €170,000. The case is now closed.