Detailed Comparison of Business Banking Services: bunq vs Vivid

Business Plans for bunq

bunq Easy Bank Business

Cost: €2.99/month

Main Features:

• Basic banking services.
• Support for multi-currency accounts.
• Free card payments.

bunq Easy Money Business

Cost: €9.99/month

Main Features:

• All Easy Bank Business features.
• Up to 25 sub-accounts.
• Support for over 30 currencies.
• Unlimited SEPA international transfers.

bunq Easy Green Business

Cost: €19.99/month

Main Features:

• All Easy Money Business features.
• 10 free cash withdrawals per month.
• Integration with accounting systems.
• Tree planting for every €100 spent.

bunq SuperGreen Business

Cost: €19.99/month

Main Features:

• All Easy Green Business features.
• Maximum benefits and premium services.

Business Plans for Vivid

Vivid Standard

Cost: Free

Main Features:

• Basic banking services.
• Multi-currency accounts (up to 40 currencies).
• Virtual cards.
• Free card payments.

Vivid Prime

Cost: €9.90/month

Main Features:

• All Vivid Standard features.
• Up to 15 sub-accounts.
• Cashback up to 10% on certain categories of purchases.
• Free cash withdrawals up to €200 per month.
• Access to investment products.

Freelancer Plans for bunq

bunq Easy Bank Freelancer

Cost: €2.99/month

Main Features:

• Basic banking services.
• Support for multi-currency accounts.
• Free card payments.

bunq Easy Money Freelancer

Cost: €9.99/month

Main Features:

• All Easy Bank Freelancer features.
• Up to 25 sub-accounts.
• Support for over 30 currencies.
• Unlimited SEPA international transfers.

bunq Easy Green Freelancer

Cost: €19.99/month

Main Features:

• All Easy Money Freelancer features.
• 10 free cash withdrawals per month.
• Integration with accounting systems.
• Tree planting for every €100 spent.

bunq SuperGreen Freelancer

Cost: €19.99/month

Main Features:

• All Easy Green Freelancer features.
• Maximum benefits and premium services.

Freelancer Plans for Vivid

Vivid Standard Freelancer

Cost: Free

Main Features:

• Basic banking services.
• Multi-currency accounts (up to 40 currencies).
• Virtual cards.
• Free card payments.

Vivid Prime Freelancer

Cost: €9.90/month

Main Features:

• All Vivid Standard Freelancer features.
• Up to 15 sub-accounts.
• Cashback up to 10% on certain categories of purchases.
• Free cash withdrawals up to €200 per month.
• Access to investment products.

Plan Recommendations

For Small Businesses:

• bunq Easy Bank Business and Vivid Standard offer basic banking services for a small fee or for free, making them excellent choices for startups.

For Small Businesses with Additional Needs:

• bunq Easy Money Business provides up to 25 sub-accounts and support for over 30 currencies for €9.99/month, allowing for effective financial management.
• Vivid Prime offers up to 15 sub-accounts and access to premium features for €9.90/month, including cashback up to 10% on certain categories of purchases.

For Medium-Sized Businesses:

• bunq Easy Green Business includes unlimited international transfers, integration with accounting systems, and up to 10 free cash withdrawals per month for €19.99/month.
• Vivid Prime for €9.90/month offers cashback up to 10%, access to investment products, and the ability to withdraw cash without fees up to €200 per month.

For Businesses with Large Teams:

• bunq SuperGreen Business provides maximum benefits and premium services for €19.99/month, including tree planting for every €100 spent.

For Beginner Freelancers:

• bunq Easy Bank Freelancer and Vivid Standard Freelancer offer basic features for free or for a small fee, making them excellent choices for beginners.

For Freelancers with Additional Needs:

• bunq Easy Money Freelancer provides up to 25 sub-accounts and support for over 30 currencies for €9.99/month, allowing for effective financial management.
• Vivid Prime Freelancer offers up to 15 sub-accounts and access to premium features for €9.90/month, including cashback up to 10% on certain categories of purchases.

For Frequently Traveling Freelancers:

• bunq Easy Green Freelancer includes unlimited international transfers, integration with accounting systems, and up to 10 free cash withdrawals per month for €19.99/month.
• Vivid Prime Freelancer for €9.90/month offers cashback up to 10%, access to investment products, and the ability to withdraw cash without fees up to €200 per month.

Comparison of Free Services

Cashback

• bunq Easy Bank Business: No cashback.
• bunq Easy Bank Freelancer: No cashback.
• Vivid Standard Business: No cashback.
• Vivid Standard Freelancer: Up to 10% cashback on selected categories.

Cash Withdrawals

• bunq Easy Bank Business: Free withdrawals up to 10 times per month.
• bunq Easy Bank Freelancer: Free withdrawals up to 10 times per month.
• Vivid Standard Business: Free withdrawals up to €200 per month.
• Vivid Standard Freelancer: Free withdrawals up to €200 per month.

Payments

• bunq Easy Bank Business: Free card payments.
• bunq Easy Bank Freelancer: Free card payments.
• Vivid Standard Business: Free card payments.
• Vivid Standard Freelancer: Free card payments.

Sub-accounts (Spaces)

• bunq Easy Bank Business: Yes, up to 25 sub-accounts.
• bunq Easy Bank Freelancer: Yes, up to 25 sub-accounts.
• Vivid Standard Business: No.
• Vivid Standard Freelancer: No.

Recommendations

For Freelancers:

• bunq Easy Green Freelancer is an excellent choice due to unlimited international transfers, integration with accounting systems, and free cash withdrawals up to 10 times per month.
• Vivid Prime Freelancer offers up to 10% cashback on selected categories, free withdrawals up to €200 per month, and access to investment products, making it ideal for those who need additional features and support.

For Businesses:

• bunq Easy Green Business offers a good balance between cost and functionality, including multi-currency accounts and unlimited SEPA international transfers.
• Vivid Prime Business is a cost-effective choice for companies with a high volume of international transactions due to access to investment products, up to 10% cashback, and free withdrawals up to €200 per month.

Comparison of Premium Services

bunq Easy Green Business (business)

• Cost: €19.99/month
• Cashback: None
• Cash Withdrawals: Free up to 10 times per month
• Sub-accounts (Spaces): Yes, up to 25 sub-accounts
• Additional Features: Integration with accounting systems, planting a tree for every €100 spent

bunq SuperGreen Business (business)

• Cost: €19.99/month
• Cashback: None
• Cash Withdrawals: Free up to 10 times per month
• Sub-accounts (Spaces): Yes, up to 25 sub-accounts
• Additional Features: Maximum benefits and premium services, planting a tree for every €100 spent

Vivid Prime Business (business)

• Cost: €9.90/month
• Cashback: Up to 10% on selected categories
• Cash Withdrawals: Free up to €200 per month
• Sub-accounts (Spaces): No
• Additional Features: Access to investment products, premium customer support

Vivid Metal Business (business)

• Cost: €19.90/month
• Cashback: Up to 10% on selected categories
• Cash Withdrawals: Free up to €1000 per month
• Sub-accounts (Spaces): No
• Additional Features: Extended insurance, premium metal card, access to investment products

Recommendations

For Freelancers:

• bunq Easy Green Freelancer is an excellent choice with free cash withdrawals up to 10 times per month, integration with accounting systems, and tree planting for every €100 spent.
• Vivid Prime Freelancer offers up to 10% cashback on selected categories, free cash withdrawals up to €200 per month, and access to investment products, making it ideal for those needing additional features and support.

For Businesses:

• bunq SuperGreen Business offers a good balance between cost and functionality, including tree planting for every €100 spent, making it attractive for environmentally conscious companies.
• Vivid Metal Business is a cost-effective choice for companies with high volumes of international transactions due to access to investment products, up to 10% cashback, and free cash withdrawals up to €1000 per month.

Simplicity and Speed of Account Opening

Online Registration

• bunq: Offers online registration via mobile and web applications.
• Vivid: Offers online registration via mobile and web applications.

Registration Time

• bunq: Registration takes a few minutes.
• Vivid: Registration takes a few minutes.

Form Filling

• bunq: Requires filling out a form with information about the business and the owner.
• Vivid: Requires filling out a form with information about the business and the owner.

Required Data and Documents

• bunq: Requires identity verification and business registration documents.
• Vivid: Requires identity verification and business registration documents.

Identification Procedure

• bunq: Uses photo identification or video identification.
• Vivid: Uses photo identification or video identification.

Identification Time

• bunq: Identification takes a few minutes.
• Vivid: Identification takes a few minutes.

Account Confirmation and Activation

• bunq: Instant confirmation and activation after identification.
• Vivid: Instant confirmation and activation after identification.

Confirmation Notification

• bunq: Sends a confirmation notification.
• Vivid: Sends a confirmation notification.

Card Reception

• bunq: Offers a physical card by mail and a virtual card immediately.
• Vivid: Offers a physical card by mail and a virtual card immediately.

Platform Availability

• bunq: Supports iOS, Android, and web platforms.
• Vivid: Supports iOS, Android, and web platforms.

Recommendations

If the speed of account activation is a priority, both bunq and Vivid can be excellent choices due to their instant confirmation and activation.

Key Features and Business Benefits

Account and Finance Management

• bunq: Intuitive mobile and web application, support for up to 25 sub-accounts (Spaces), multi-currency accounts.
• Vivid: Convenient mobile application, account management, support for multi-currency accounts.

Cashback and Bonuses

• bunq: No cashback.
• Vivid: Up to 10% cashback on selected categories.

International Transactions

• bunq: Support for over 30 currencies, unlimited SEPA international transfers, competitive transfer rates.
• Vivid: Support for up to 40 currencies, free SEPA payments, SWIFT transfer fees, free cash withdrawals up to a certain limit.

Security and Protection

• bunq: Two-factor authentication, deposit protection up to €100,000.
• Vivid: Two-factor authentication, modern security protocols, deposit protection up to €100,000.

Customer Support

• bunq: Multilingual support via chat and phone (for premium plans), online support center.
• Vivid: Support via chat and email, extended support for premium users.

Integrations and Automation

• bunq: Integration with accounting systems (e.g., Xero, QuickBooks), automatic payments.
• Vivid: Integration with accounting systems, automation of financial processes.

Analytics and Reporting

• bunq: Built-in expense analysis tools, report creation, data export in various formats.
• Vivid: Built-in analytics tools, report creation, data export.

Premium Features

• bunq: Premium customer support, tree planting for every €100 spent (SuperGreen).
• Vivid: Metal card (Metal), extended insurance, priority customer support, access to investment products.

Recommendations

For Freelancers

• bunq Easy Green Freelancer: A great choice due to free cash withdrawals up to 10 times a month, integration with accounting systems, and tree planting for every €100 spent.
• Vivid Prime Freelancer: Offers up to 10% cashback on selected categories, free cash withdrawals up to €200 per month, and access to investment products, making it ideal for those who need additional features and support.

For Businesses

• bunq SuperGreen Business: Offers a good balance between cost and functionality, including tree planting for every €100 spent, making it attractive for environmentally conscious companies.
• Vivid Metal Business: A cost-effective choice for companies with high international transaction volumes, offering access to investment products, up to 10% cashback, and free cash withdrawals up to €1,000 per month.

Integration Capabilities with Other Services

Integration with Accounting Systems

• bunq: Supports Moneybird, Exact, QuickBooks, Xero; data export in CSV and PDF formats.
• Vivid: Integration with Datev, FastBill; data export in CSV and PDF formats.

Integration with Financial Applications

• bunq: Supports Apple Pay, Google Pay, Samsung Pay; integration with Tikkie and Splitwise.
• Vivid: Supports Apple Pay, Google Pay; integration with SEPA and SWIFT.

Integration with Business Management Platforms

• bunq: Integration with CRM systems (Salesforce); support for project management platforms (Trello, Asana).
• Vivid: Integration with CRM systems not specified; support for project management platforms not specified.

Integration with Analytical Tools

• bunq: Built-in analytical tools; integration with external analytical platforms (Google Analytics).
• Vivid: Built-in analytical tools; integration with external analytical platforms not specified.

Process Automation

• bunq: API access; integration with IFTTT and Zapier.
• Vivid: API access; integration with Zapier not specified.

Recommendations

For businesses needing extensive data export capabilities and integration with various analytics and project management systems:

bunq is an excellent choice due to its support for multiple platforms and data export formats, as well as API access for custom integrations.

For businesses prioritizing integration with various financial applications and process automation:

Vivid may be the best choice, thanks to its support for a wide range of payment systems such as Apple Pay and Google Pay, and integration with accounting systems like Datev and FastBill.

For companies seeking flexible solutions in accounting and process automation:

bunq offers integration with major accounting systems like Moneybird and Exact, and provides powerful tools for automating financial operations with API access and support for automation platforms like IFTTT and Zapier.

Quality of Customer Support for Business

Support Channels

• bunq: Chat, phone (for premium users), online support center.
• Vivid: Chat, email, online support center.

Availability of Support

• bunq: Support available 24/7 for premium users; for standard users, during business hours.
• Vivid: Support available during business hours, extended support hours for premium clients.

Response Time

• bunq: Quick response via chat, especially for premium users.
• Vivid: Quick response via chat and email, especially for premium clients.

Online Support Center

• bunq: Extensive knowledge base, FAQs, guides, and instructions available on the bunq website.
• Vivid: Extensive knowledge base, FAQs, guides, and instructions available on the Vivid website.

Personal Manager

• bunq: Personal manager available for premium users.
• Vivid: Personal manager available for premium clients.

Educational Materials

• bunq: Access to webinars, articles, and guides on using bunq’s features and services.
• Vivid: Access to webinars, articles, and guides on using Vivid’s features and services.

Recommendations

For businesses requiring 24/7 support:

bunq is an excellent choice due to its round-the-clock support availability for premium users.

For businesses needing a personal manager:

Vivid offers a personal manager for premium clients, making it suitable for companies that require personalized assistance.

For businesses needing quick response times and multilingual support:

Both banks provide quality service, but bunq stands out with its 24/7 support for premium users and quick response times via chat.

Currency Handling Capabilities for Business

Multicurrency Accounts

• bunq: Ability to open accounts in more than 30 different currencies for convenient international transactions and currency management.
• Vivid: Ability to open accounts in 40 different currencies, providing flexibility for international operations.

Currency Exchange

• bunq: Convenient currency exchange through the mobile app with a 0.5% transaction fee.
• Vivid: Currency exchange through the mobile app, free up to a certain limit, then a 0.5% fee.

International Payments

• bunq: Conducting international payments with competitive rates and support for SEPA and SWIFT transfers.
• Vivid: International payments with minimal fees, supporting SEPA and SWIFT transfers.

Currency Support

• bunq: Ability to operate in more than 30 different currencies, such as EUR, USD, GBP, CHF, JPY, and others.
• Vivid: Ability to operate in 40 different currencies, including EUR, USD, GBP, CHF, and others.

Business Card

• bunq: Business card supporting operations in more than 30 different currencies.
• Vivid: Business card supporting operations in 40 different currencies.

Recommendations

For businesses needing maximum multicurrency support:

Vivid is the best choice due to its support for 40 currencies, providing flexibility for international transactions.

For flexible currency exchange conditions:

bunq and Vivid offer convenient currency exchange conditions through mobile apps with a 0.5% fee, but Vivid offers a free limit, making it more advantageous for smaller exchanges.

For minimal fees on international payments:

Vivid offers competitive rates and minimal fees, making it an excellent choice for businesses that regularly conduct international transfers.

Advantages and Disadvantages

Advantages of bunq

• Convenient and intuitive mobile and web applications.
• Multicurrency accounts (more than 30 currencies).
• Eco-friendly initiative: tree planting for every 100 euros spent (SuperGreen).
• High level of security and data protection.
• 24/7 support for premium users.
• Integration capabilities with various accounting and financial systems.

Disadvantages of bunq

• Currency exchange fee (0.5% per transaction).
• Higher rates compared to some competitors.
• Some users may find the interface overloaded with features.

Advantages of Vivid

• Convenient mobile app with a wide range of features.
• Multicurrency accounts (up to 40 currencies).
• High cashback programs (up to 10% on certain categories of purchases).
• Low fees for international transfers.
• Access to investment products.
• Extended insurance and premium services for Metal tariff users.

Disadvantages of Vivid

• Customer support mainly through chat and email, limited phone support availability.
• Free cash withdrawals are limited by amount (up to 200 euros per month on the basic tariff).
• Some features are only available on premium tariffs.

Conclusion

For businesses that value eco-friendliness and flexible multicurrency operations:

bunq is an excellent choice with support for over 30 currencies and an eco-friendly tree planting initiative.

For businesses seeking high cashback programs and access to investment products:

Vivid offers attractive cashback programs up to 10% and access to investment products, making it ideal for companies looking to maximize the benefits from their expenses.

For companies that require high integration with accounting and financial systems:

bunq provides powerful tools for integration with various accounting systems, making it suitable for comprehensive financial management.

Article Author: Patrick Möller