Bunq launches metal card and plants a tree for every €100 spent
The company is selling a restricted edition today with “Founders Edition” inscribed in the top right corner but the first batch is almost offered out:
The Green Card is a Mastercard with no foreign exchange cost. The company utilizes the standard Mastercard exchange rate however does not add any markup fee.
The Travel Card costs EUR9.99 to buy the card. There’s no regular monthly cost after that. The Green Card costs EUR99 annually. Bunq charges EUR0.99 per ATM withdrawal however you get 10 complimentary withdrawals with the Green Card.
While the Green Card is a charge card, it does not work like regular charge card. You don’t get a direct debit on your savings account when a month to cover your credit line. Rather, you have to open the Bunq app and top up your Bunq account– topping up your account with another card might incur some costs, more details here. If you don’t have adequate money on your account, the transaction gets turned down like a debit card.
Production a metal card isn’t especially eco-friendly. That’s why the Green Card ends after six years instead of four years. It is also made from recyclable product (despite the fact that I’m not sure it’s that easy to recycle a metal card with a chip, a magnetic stripe and an NFC antenna after it ends).
Other than that, the Green Card works basically like the Travel Card. While Bunq uses standard savings account, you can buy a Travel Card or a Green Card and keep your existing savings account.
That’s why the Green Card expires after six years instead of 4 years. The Green Card is a Mastercard without any foreign exchange cost. While the Green Card is a credit card, it does not work like normal credit cards. The Travel Card costs EUR9.99 to order the card.
Fintech start-up Bunq is releasing a metal card called the Green Card. While some banks use a cashback program with superior cards, Bunq is using a special kind of “cashback”. For every single EUR100 invested, Bunq plants a tree. The company has actually partnered with Eden Reforestation Projects to fund reforestation around the world.