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Updated September 28, 2026 · VaultCue Editorial Team

bunq vs M-Pesa

bunq scores 8.9 and M-Pesa 8.9 out of 10. Compare their differences and shared features below.
bunq

bunq

Higher score in this comparison

8.9/10
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M-Pesa

M-Pesa

8.9/10
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Where bunq and M-Pesa differ

bunq vs M-Pesa
ComparebunqbunqReviewVisitVisitM-PesaM-PesaReviewSee alternativesSee alternatives
Headline rate3.01%2% to 5%Higher
Access termsWithdraw any amount free up to 2 times a month, rising to 3 free monthly withdrawals after 12 months; interest paid weeklyElectronic only, operated via the M-Shwari Menu on the M-PESA system; no branch access
Monthly fee€0KES 0
Minimum depositNot confirmedKES 1
Deposit protectionEU DGS up to EUR 100,000Not confirmed

Same on both: Rate type (Variable), Account kind (Easy access).

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Key differences

  • Founded is lower at M-Pesa: 2007 vs 2012.
  • bunq is available in 6 more countries.
  • Headline rate is higher at M-Pesa: 2% to 5% vs 3.01%.
  • Support channels: only M-Pesa offers Phone, Community.

Our verdict on each

bunq

bunq suits savers who want an easy-access euro account that costs nothing to keep and pays a variable rate with weekly interest, protected by an EU guarantee. The rate of 3.01% is solid rather than remarkable, and support runs on email, chat and help centre only.

Read the full bunq review

M-Pesa

M-Pesa suits anyone in Kenya who wants everyday money handled on a handset, with a monthly fee of KES 0. Savings pay a variable rate of 2% to 5% from a small entry point. The trade-off is a digital-only service with a single currency and no branch access.

Read the full M-Pesa review

Score breakdown

bunq vs M-Pesa
AreabunqM-Pesa
Cost9.1Monthly fee of €0 on a no monthly fee account, with a currency conversion fee of 3% on the free plan.Not confirmed
Offer9.1HigherRate of 3.01% that is variable, close to the savings median of 3%.9.0Free ATM withdrawals within KES 100, savings opening from KES 1 and support across email, chat and phone.
Trust8.78.8Higher

How they place

bunq vs M-Pesa
RankingbunqM-Pesa
Savings accounts6 of 1420416 of 1420
Business bank accounts3 of 563178 of 563
Student, teen and kids accounts3 of 273123 of 273
Online banks3 of 402128 of 402

Every fact side by side

bunq vs M-Pesa
FactbunqM-Pesa
Pricing modelNo monthly feeNo monthly fee
Legal entitybunq B.V.Safaricom PLC
HeadquartersNetherlandsKenya
Founded20122007Lower
Support channelsEmail, Chat, Help centreEmail, Chat, Phone, Help centre, CommunityCovers more

Everyday accounts

bunq vs M-Pesa
FactbunqM-Pesa
Currency conversion fee3%Not confirmed
CurrenciesNot confirmed1
AudienceExpats, Travelers, Business, StudentExpats, Teen, Business
FeaturesJoint account, Digital onlyCovers moreDigital only
Local account detailsIBANNot confirmed
Free ATM withdrawalsNot confirmedKES 100
Transfer feeNot confirmedFree to KES 100, then KES 7-108

Money transfer

bunq vs M-Pesa
FactbunqM-Pesa
Payout methodsNot confirmedBank, Cash pickup, Wallet
Fee to send 1,000Not confirmedKES 13

Where each stands against the rest

bunq vs M-Pesa
FactbunqM-PesaMedian
Headline rate3.01%below the median2% to 5%above the median3.25%
Minimum depositNot confirmedKES 1below the medianKES 1,000

Median across 658 listed accounts.

Pros and cons

bunq

Pros

  • The monthly fee is €0 and the pricing model is no monthly fee, so keeping the account open costs nothing each month.
  • Interest is paid weekly and the rate type is variable, so money keeps earning between withdrawals without a term to serve out.
  • Balances are covered by EU DGS up to EUR 100,000, so there is a payout route if the provider fails.

Cons

  • The rate type is variable, so the return follows the base rate and the account ranks 240 of 473 brands on the headline rate.
  • Support runs on email, chat and help centre only, which leaves phone callers with a narrower route in.
  • Features list joint account and digital only, so the service is digital only and there is no branch counter.

M-Pesa

Pros

  • A monthly fee of KES 0, so there is no ongoing charge for keeping the account
  • Savings pay a variable rate of 2% to 5% and open from a minimum deposit of KES 1
  • Money sent out reaches bank, cash pickup and wallet

Cons

  • Money moves in a single market, since the account holds 1 currency
  • Branch counters are not among its listed features, which cover digital only, and access runs through the M-Shwari menu on the M-PESA system
  • Transfer fees run Free to KES 100, then KES 7-108, with a common send charge of KES 13

Who each suits

bunq

Who it suits

  • People who want an easy-access euro account that pays interest weekly and costs nothing to hold.
  • Travellers and expats, part of the expats, travelers and business bunq targets, who convert currency and want a local IBAN.
  • Students and savers who value EU DGS up to EUR 100,000 over a higher rate.

Who should look elsewhere

  • Anyone chasing a top fixed rate, since 24.19% at plazo pays far more.
  • Customers who need a phone helpline, as support runs on email, chat and help centre only.
  • Anyone wanting a branch counter, because features list joint account and digital only and the service is digital only.

M-Pesa

Who it suits

  • People living in Kenya who pay and collect money by phone
  • Teens and expats who want an account without a monthly charge
  • Businesses and traders who receive and pay out through a wallet

Who should look elsewhere

  • Skrill, if you need to hold and convert money in several currencies
  • PayPal Colombia, if your payments need to reach an international audience
  • Plazo ES, if you are weighing savings products and want terms other than a variable variable rate

Country by country

bunq vs M-Pesa
CountrybunqM-Pesa
BelgiumYesNo
FranceYesNo
GermanyYesNo
IrelandYesNo
ItalyYesNo
KenyaNoYes
NetherlandsYesNo
SpainYesNo

Questions about each

bunq

What does bunq charge to keep a savings account?+

The monthly fee is €0 and the account is priced on a no monthly fee basis, so there is no recurring charge to keep it open. The one cost to watch when you spend abroad is currency conversion at 3% on the free plan. Interest is still paid weekly with no fee deducted.

How much interest does the account pay?+

The rate is 3.01% and the rate type is variable, so the figure follows the base rate instead of being fixed to a term. Across the savings accounts on the site, the median headline rate is 3%, which puts bunq near the middle. Interest is credited weekly rather than monthly.

M-Pesa

What does M-Pesa cost to keep each month?+

The monthly fee is KES 0, so there is no charge for holding the account. Sending money is charged separately, with transfer fees running Free to KES 100, then KES 7-108 and a common send charge of KES 13. Cash machine withdrawals are free within an allowance of KES 100.

Is there a minimum deposit needed to start?+

Savings start from a minimum deposit of KES 1, so the entry point is low. The monthly fee is KES 0, which means no ongoing charge to keep the account open, and the account kind is easy access for easy access to the balance.

Other options to compare

bunq

Visit

M-Pesa

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