- The German FinTech N26 unveils their latest service. Their N26 Black offer is being revamped to build N26 You, which bets on a customised borderless approach.
- N26 You is described as a Premium bank account for travellers, and packs in additional benefits.
- Regarding the offer:
- €9.90 / month
- A of Allianz travel insurance (delayed flight, lost luggage, foreign medical expenses, smartphones theft)
- Extended warranty on qualified purchases
- Fee-free, unlimited ATM withdrawals abroad
- Unlimited payments abroad
- Exclusive discounts at N26 partners (Hotels.com, WeWork, GetYourGuide, etc.)
- 2 customised companion Mastercard cards linked to the account (option soon to be made available)
- Urban mobility insurance (planned service)
- These last three characteristics are exclusive offers, they were not included in N26 Black.
- When it comes to marketing, N26 also lets customers customise their card. Five colours are available: Aqua, Rhubarb, Sand, Slate and Ocean.
- An N26 You Business service is also featured.
N26 in Europe (June 2019)
- 24 markets covered in Europe
- 3.5M customers
- 400 transactions/minute
- Assessed monthly transaction volume: €2B
- 1,300 employees
- 50% growth owned to recommendations
- Customisation levelled up. N26 You applies changes to the Black offer, betting on a communication and customisation campaign rather than on actually rebuilding the service. This FinTech also plans to launch additional options in the weeks to come.
- With N26 You, N26 still feature three distinct offers. Their free service with a limited number of advantages is still available, and so is their Premium pack with a companion Metal card.
- N26 You might, however, grasp some market shares from the Metal pack considering the options it includes. It remains to be seen how they plan to account for the €7 price difference between these two offers.
- N26 just raised $170 million, and intends to fund their US expansion (formally announced mid-July), and their rollout in Brazil. This FinTech is now valued at $3.5 billion.