US regulator rejects Bunq’s application for national bank charter

The Office of the Comptroller of the Currency (OCC), the US federal regulator responsible for chartering and supervising national banks, has turned down an application from Netherlands-based fintech Bunq to obtain a national bank charter in the US. The decision marks a further setback in Bunq’s efforts to establish a licensed banking presence in the country.

In a letter dated 4 August 2026, the OCC said its denial stemmed from significant supervisory and compliance concerns. According to the regulator, Bunq’s application did not clearly explain how the bank would be capitalised in the US. Moreover, per the announcement published by Reuters, the OCC also raised doubts about the experience of Bunq’s management team with unsecured credit cards, as well as the company’s ability to operate safely and generate a profit in the competitive US banking market.