The U.S. Office of the Comptroller of the Currency (OCC) has rejected bunq‘s application to become a chartered national bank in the United States, dealing a setback to the Dutch banktech firm’s expansion plans. In a decision letter dated August 4, 2026, the OCC said the denial was based on “significant supervisory and compliance concerns,” pointing to gaps in bunq’s capital plans, management expertise, and financial projections. The regulator specifically said the application did not clearly explain how bunq would be capitalized in the U.S. and raised doubts about management’s experience with unsecured credit cards, as well as the bank’s ability to operate safely and turn a profit in the competitive U.S. market. The objective of bunq’s filing was to secure a full U.S. banking license, building on the FINRA-approved broker-dealer licence it obtained in 2025 to offer investment products in the U.S., as part of its broader push to expand its banktech operations from Europe into the American market. Key players include bunq’s CEO, Ali Niknam, and the OCC as the federal regulator; the rejection marks bunq’s second failed attempt after it withdrew a previous application in early 2024 and follows a similar OCC rejection last month of Wise’s application to become a national trust bank, suggesting broader regulatory caution toward fintech charter applicants. 

US Regulator Blocks bunq’s Bid for a National Bank Charter