diff --git a/src/main/java/org/springframework/data/r2dbc/core/NamedParameterUtils.java b/src/main/java/org/springframework/data/r2dbc/core/NamedParameterUtils.java
index 88ff313..11a1d7a 100644
--- a/src/main/java/org/springframework/data/r2dbc/core/NamedParameterUtils.java
+++ b/src/main/java/org/springframework/data/r2dbc/core/NamedParameterUtils.java
@@ -452,6 +452,12 @@ abstract class NamedParameterUtils {
 
 			List<BindMarker> bindMarkers = getBindMarkers(identifier);
 
+			if (bindMarkers == null) {
+
+				target.bindNull(identifier, valueType);
+				return;
+			}
+
 			if (bindMarkers.size() == 1) {
 				bindMarkers.get(0).bindNull(target, valueType);
 				return;
diff --git a/src/test/java/org/springframework/data/r2dbc/core/DefaultDatabaseClientUnitTests.java b/src/test/java/org/springframework/data/r2dbc/core/DefaultDatabaseClientUnitTests.java
index b4b7bcc..c0dd2a0 100644
--- a/src/test/java/org/springframework/data/r2dbc/core/DefaultDatabaseClientUnitTests.java
+++ b/src/test/java/org/springframework/data/r2dbc/core/DefaultDatabaseClientUnitTests.java
@@ -19,9 +19,11 @@ import static org.mockito.Mockito.*;
 
 import io.r2dbc.spi.Connection;
 import io.r2dbc.spi.ConnectionFactory;
+import io.r2dbc.spi.Statement;
 import reactor.core.CoreSubscriber;
 import reactor.core.publisher.Flux;
 import reactor.core.publisher.Mono;
+import reactor.test.StepVerifier;
 
 import org.junit.Before;
 import org.junit.Test;
@@ -30,9 +32,8 @@ import org.mockito.Mock;
 import org.mockito.junit.MockitoJUnitRunner;
 import org.reactivestreams.Publisher;
 import org.reactivestreams.Subscription;
-import org.springframework.data.r2dbc.core.DatabaseClient;
-import org.springframework.data.r2dbc.core.DefaultDatabaseClient;
-import org.springframework.data.r2dbc.core.ReactiveDataAccessStrategy;
+
+import org.springframework.data.r2dbc.dialect.PostgresDialect;
 import org.springframework.data.r2dbc.support.R2dbcExceptionTranslator;
 
 /**
@@ -45,7 +46,6 @@ public class DefaultDatabaseClientUnitTests {
 
 	@Mock ConnectionFactory connectionFactory;
 	@Mock Connection connection;
-	@Mock ReactiveDataAccessStrategy strategy;
 	@Mock R2dbcExceptionTranslator translator;
 
 	@Before
@@ -58,7 +58,9 @@ public class DefaultDatabaseClientUnitTests {
 	public void shouldCloseConnectionOnlyOnce() {
 
 		DefaultDatabaseClient databaseClient = (DefaultDatabaseClient) DatabaseClient.builder()
-				.connectionFactory(connectionFactory).dataAccessStrategy(strategy).exceptionTranslator(translator).build();
+				.connectionFactory(connectionFactory)
+				.dataAccessStrategy(new DefaultReactiveDataAccessStrategy(PostgresDialect.INSTANCE))
+				.exceptionTranslator(translator).build();
 
 		Flux<Object> flux = databaseClient.inConnectionMany(it -> {
 			return Flux.empty();
@@ -87,4 +89,100 @@ public class DefaultDatabaseClientUnitTests {
 
 		verify(connection, times(1)).close();
 	}
+
+	@Test // gh-128
+	public void executeShouldBindNullValues() {
+
+		Statement statement = mock(Statement.class);
+		when(connection.createStatement("SELECT * FROM table WHERE key = $1")).thenReturn(statement);
+		when(statement.execute()).thenReturn(Mono.empty());
+
+		DefaultDatabaseClient databaseClient = (DefaultDatabaseClient) DatabaseClient.builder()
+				.connectionFactory(connectionFactory)
+				.dataAccessStrategy(new DefaultReactiveDataAccessStrategy(PostgresDialect.INSTANCE)).build();
+
+		databaseClient.execute("SELECT * FROM table WHERE key = $1") //
+				.bindNull(0, String.class) //
+				.then() //
+				.as(StepVerifier::create) //
+				.verifyComplete();
+
+		verify(statement).bindNull(0, String.class);
+
+		databaseClient.execute("SELECT * FROM table WHERE key = $1") //
+				.bindNull("$1", String.class) //
+				.then() //
+				.as(StepVerifier::create) //
+				.verifyComplete();
+
+		verify(statement).bindNull("$1", String.class);
+	}
+
+	@Test // gh-128
+	public void executeShouldBindNamedNullValues() {
+
+		Statement statement = mock(Statement.class);
+		when(connection.createStatement("SELECT * FROM table WHERE key = $1")).thenReturn(statement);
+		when(statement.execute()).thenReturn(Mono.empty());
+
+		DefaultDatabaseClient databaseClient = (DefaultDatabaseClient) DatabaseClient.builder()
+				.connectionFactory(connectionFactory)
+				.dataAccessStrategy(new DefaultReactiveDataAccessStrategy(PostgresDialect.INSTANCE)).build();
+
+		databaseClient.execute("SELECT * FROM table WHERE key = :key") //
+				.bindNull("key", String.class) //
+				.then() //
+				.as(StepVerifier::create) //
+				.verifyComplete();
+
+		verify(statement).bindNull(0, String.class);
+	}
+
+	@Test // gh-128
+	public void executeShouldBindValues() {
+
+		Statement statement = mock(Statement.class);
+		when(connection.createStatement("SELECT * FROM table WHERE key = $1")).thenReturn(statement);
+		when(statement.execute()).thenReturn(Mono.empty());
+
+		DefaultDatabaseClient databaseClient = (DefaultDatabaseClient) DatabaseClient.builder()
+				.connectionFactory(connectionFactory)
+				.dataAccessStrategy(new DefaultReactiveDataAccessStrategy(PostgresDialect.INSTANCE)).build();
+
+		databaseClient.execute("SELECT * FROM table WHERE key = $1") //
+				.bind(0, "foo") //
+				.then() //
+				.as(StepVerifier::create) //
+				.verifyComplete();
+
+		verify(statement).bind(0, "foo");
+
+		databaseClient.execute("SELECT * FROM table WHERE key = $1") //
+				.bind("$1", "foo") //
+				.then() //
+				.as(StepVerifier::create) //
+				.verifyComplete();
+
+		verify(statement).bind("$1", "foo");
+	}
+
+	@Test // gh-128
+	public void executeShouldBindNamedValuesByIndex() {
+
+		Statement statement = mock(Statement.class);
+		when(connection.createStatement("SELECT * FROM table WHERE key = $1")).thenReturn(statement);
+		when(statement.execute()).thenReturn(Mono.empty());
+
+		DefaultDatabaseClient databaseClient = (DefaultDatabaseClient) DatabaseClient.builder()
+				.connectionFactory(connectionFactory)
+				.dataAccessStrategy(new DefaultReactiveDataAccessStrategy(PostgresDialect.INSTANCE)).build();
+
+		databaseClient.execute("SELECT * FROM table WHERE key = :key") //
+				.bind("key", "foo") //
+				.then() //
+				.as(StepVerifier::create) //
+				.verifyComplete();
+
+		verify(statement).bind(0, "foo");
+	}
 }