NEW YORK, July 11, 2019 /PRNewswire/ -- N26 Inc. is launching its banking app in the US. N26 Inc. is the US subsidiary of N26 GmbH ("N26"), one of Europe's fastest growing mobile banks known for its beautiful design and unparalleled user experience. Starting today in a staged rollout, the 100,000 customers on the US waitlist will be invited to sign up and have full access to the product.
"We're very excited to bring our experience to US customers. In Europe, we're loved for our effortless and sleek user experience, with no hidden fees. Starting today, you can sign up entirely from your phone in just five minutes. There are no account maintenance fees or minimum balances required." says Nicolas Kopp, US CEO, N26 Inc. "We will eliminate the frustration of visiting branches, waiting on the phone, and paying fees for basic services that should already be included. We will add even more benefits and features over the summer."
Since the initial European product launch in 2015, N26 has reached 3.5 million customers in 24 European markets. With a higher than 4.8 rating in the Apple App Store, the app attracts over 10,000 new users every day in Europe primarily through word of mouth. N26 has truly redefined banking in Europe.
The N26 mobile app and debit card include many features that empower customers to take control of their finances. Account activity is displayed in the app in real time, and each transaction is automatically categorized. Customers can also set daily spending limits and lock and unlock their cards, all with a simple swipe in the app. N26 is also ideal for travelers as there are no foreign transaction fees when making purchases internationally.
Each account also comes with Spaces, which are sub-accounts that help people organize and achieve their financial goals. Spaces can be created with a simple click, and users can easily drag and drop money to and from their Spaces.
Between beta now and a full public launch later this summer, people on the waitlist will continuously be invited to get access to the N26 app. Over the summer, we will also launch additional perks and two free withdrawals per month at ATMs nationwide. Shortly thereafter, N26 Inc. will introduce Metal, a premium tier account, to US customers.
"The US launch is a major milestone for N26 to change banking globally and reach more than 50 million customers in the coming years," says Valentin Stalf, co-founder and CEO, N26. "We know that millions of people around the world and particularly in the US are still paying hidden and exorbitant fees and are frustrated by poor banking experiences. N26 will radically change the way Americans bank as it has for so many people throughout Europe."
N26 was founded in 2013 by Valentin Stalf and Maximilian Tayenthal who envisioned the future of banking to be fast, digital, and easy to use for people throughout the world. With its widespread success in Europe, N26 is currently focused on overseas expansion, first in the US, followed by Brazil. N26 has raised more than $500 million from the world's most established investors, including US-based firms Insight Venture Partners and Peter Thiel's Valar Ventures. More information can be found at n26.com.
N26 Press Contact
N26 GmbH ("N26") is building the first mobile banking platform the world loves to use. Founded in 2013 by Valentin Stalf and Maximilian Tayenthal, N26 is focused on reinventing the banking experience for today's digital lifestyles. With its state-of-the-art technology and no branch network, N26 offers customers an easy signup process, and a banking solution that gives them control over their finances. With 3.5 million customers in 25 markets, including France, Germany and the UK, N26 is one of the fastest growing challenger banks in Europe, operating with a full bank license since 2016. N26 employs more than 1,300 people in Berlin, Barcelona, Vienna, New York and São Paulo. It has raised more than $500 million from the world's most established investors, including Insight Venture Partners (US), GIC (Singapore), Tencent (China), Allianz X (Germany), Peter Thiel's Valar Ventures (US), and Li Ka-Shing's Horizons Ventures (Hong Kong).
N26 operates in the US via its wholly owned subsidiary, N26 Inc., based in New York. Banking services in the US are offered by N26 Inc. in partnership with Axos® Bank, Member FDIC. The N26 Inc. app is available on Android, iOS and desktop. For more information about N26, please visit n26.com.
About Axos Bank
Axos Bank is a nationwide bank that provides consumer and business banking products through its low-cost distribution channels and affinity partners. With over $10 billion in assets, Axos Bank provides financing for single and multi-family residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables. Axos Bank's holding company, Axos Financial, Inc. is listed on the NYSE under the symbol "AX" and is a component of the Russell 2000® Index and the S&P SmallCap 600® Index. For more information about Axos Bank, please visit axosbank.com.