US Regulator Rejects National Bank Charter Application from Dutch Fintech Bunq
The OCC's decision blocks the neobank's second attempt to establish a standalone banking presence in the United States.
The Office of the Comptroller of the Currency (OCC) has rejected a national bank charter application from Dutch fintech firm Bunq BV. The decision halts the neobank's latest attempt to enter the U.S. market as a fully licensed national entity.
In August 2026, the OCC formally denied the application submitted by the firm to establish "bunq US Bank." This follows a reapplication filed on January 6, 2026. The move was part of a broader strategy to offer savings accounts and comprehensive banking services to digital nomads across all 50 U.S. states. This is not the first time the company has faced hurdles in the U.S.; Bunq initially applied for a national bank charter in April 2023 but withdrew that request in April 2024, citing the complexity of the regulatory environment.
The Path to Expansion
Founded in 2012, Bunq has established itself as a prominent player in the European market, notably becoming the first firm to obtain a European banking license in 35 years. To penetrate the U.S. market, the company pursued a two-step expansion strategy. The first phase focused on investment services, which saw Bunq receive FINRA broker-dealer approval in October 2025. The second phase aimed to secure a full national charter, which would have allowed the firm to operate independently of partner banks.
Regulatory Barriers for Fintechs
This rejection underscores the significant challenges foreign fintech companies face when seeking a "de novo" national bank charter in the United States. The OCC maintains rigorous standards regarding capital requirements, compliance frameworks, and operational risk management. For many neobanks, these requirements create a high barrier to entry that often proves insurmountable without extensive local infrastructure or traditional banking partnerships.
Future Outlook
With the charter denied, Bunq may be forced to pivot its U.S. strategy. The company will likely have to rely on its existing broker-dealer license or adopt a partner-bank model—where a fintech interfaces with customers while a licensed bank holds the deposits—to offer banking-like services. It remains to be seen if the firm will challenge the OCC's decision or seek alternative regulatory paths to achieve its goal of serving the U.S. digital nomad population.