US Regulator OCC Rejects Bunq’s Application For National Bank Charter

The US Office of the Comptroller of the Currency (OCC) has rejected Dutch fintech company Bunq’s application for a national bank charter, affecting its plans to expand banking operations in the United States.

In a letter dated August 4, the OCC cited supervisory and compliance concerns. The regulator also questioned Bunq’s proposed US capital structure, management’s experience with unsecured credit cards and the company’s ability to operate profitably in the US banking market. Bunq said it would work to address the concerns and continue pursuing a banking presence in the country. The fintech had reapplied for the charter in January after withdrawing an earlier application in 2024.

Bunq received a FINRA-approved broker-dealer licence in 2025, allowing it to provide investment products in the US. The company had planned to use the licence as part of its expansion before seeking a banking charter.

The OCC last month also rejected Wise’s application for a national trust bank charter over supervisory and compliance concerns.