Manage your bills like a pro—introducing Spaces with IBANs

5 min read

Managing your finances can be tough. That’s why we originally designed N26 Spaces sub-accounts—to offer you an easy and intuitive way to set funds aside and organize your money. But what if you could also pay others and receive payments directly into each space?Today, we’re delighted to announce that we’ve enriched N26 Spaces by allowing IBANs to be added to each sub-account. N26 Spaces with IBANs are now available for premium N26 Smart, N26 Business Smart, N26 You, N26 Business You, N26 Metal and N26 Business Metal customers in Germany—at no extra cost.

That means you’ll now be able to pay via direct debit, create standing orders for recurring payments, and send or receive SEPA bank transfers directly from 10 Spaces sub-accounts, each with its own dedicated IBAN.

What is an IBAN? 

First thing’s first—what’s an IBAN, anyway? IBAN stands for ‘International Bank Account Number’, and is a unique identifier attached to your bank account. Think of it like a phone number—your IBAN is unique to your bank account, and it can be used by others to send you bank transfers, or used by you to set up direct debit payments securely.

Pay directly from Spaces with IBANs

Staying on top of all your monthly bills, rent, and subscription payments can be stressful, especially if you forget a payment due date. Luckily, Spaces with IBANs makes managing your bills as easy as can be. Simply create a new ‘Bills and payments’ space with an IBAN attached, and calculate how much all your bills add up to each month. Create a Rule to automatically put aside this amount to your ‘Bills and payments’ space each pay day, then simply set up recurring transfers or pay your bills via direct debit with your new IBAN. That’s it! Now, you can relax knowing that your main account is free for you to spend from, and you’ll always pay on time.

Start a space for your car payments, one for utility bills, or another for subscriptions like your gym membership or your favorite streaming service. The options are endless.

Get paid into Spaces with IBANs

As for getting paid, why not get your whole paycheck deposited directly into your Spaces with IBANs, rather than your main account? That way, you can transfer only what you’re planning to spend for the week into your main account. Say goodbye to scrounging for spare change while you wait for your next paycheck—you’ll be in full control of what you spend and save. 

Plus, if you’re an N26 Business Smart, N26 Business You, or N26 Business Metal customer, try creating separate Spaces with IBANs for each client or project. It’s an effortless way to separate your income streams, keep track of which invoices have been paid, and streamline your business finances. You can even download separate bank statements for each space when tax season comes around. Easy!

Send bank transfers from Spaces with IBANs

You can now also send SEPA bank transfers to others directly from your Spaces with IBANs. Saving for a dream purchase? Instantly move funds aside to your Space with an IBAN, then pay directly from your sub-account when you’ve reached your goal. There’s no need to move money back into your main account—so you won’t be tempted to spend. 

And if you’re a freelancer, easily set money aside for upcoming taxes each month, then pay directly from your Spaces with IBANs. To make things easier, you can even create standing orders and schedule future transfers, so you won’t forget to pay on the big day. Less time for admin means more time for what really matters, like your business and your projects.

How do I create new Spaces with IBAN?

Creating new Spaces with IBANs is simple.

  1. Go to the ‘Spaces’ tab in your N26 app

  2. Tap ‘Create a new space’ then select ‘Bills and payments’ 

  3. Follow the prompts to accept the terms and conditions, and enter your confirmation PIN

  4. Voila! Your new IBAN-enabled space is now ready to use.

How do I add an IBAN to my existing Space?

Already a premium N26 customer in Germany? It’s easy to attach an IBAN to your existing Spaces sub-accounts.

  1. Go to the ‘Spaces’ tab and select a space

  2. Tap the ‘Manage’ icon, then tap ‘Add an IBAN to this space’

  3. Accept the terms and conditions, and enter your confirmation PIN

  4. All done! Your space now has its own unique IBAN.

How do I set up recurring payments in Spaces with IBANs?

You can create a standing order for your recurring payments with just a few taps.

  1. Open your Space with an IBAN, and tap the ‘Send money’ icon

  2. Select ‘Bank transfer’ then choose your recipient and the transfer amount

  3. Tap on ‘Schedule transfer’ and decide how often this transfer should be repeated—every day, week, fortnight, or month

  4. Follow the prompts to confirm your scheduled transfer, and that’s it! 

How many IBANs can I have with an N26 premium bank account?

N26 customers in Germany with a premium N26 account can have up to 11 IBANs at no extra charge—one IBAN is attached to your main account, and an additional 10 IBANs can be used with your Spaces sub-accounts.It’s important to note that while you can create up to 10 Spaces with individual IBANs, this is a lifetime limit. Once an IBAN is attached to a space, the IBAN can’t be re-used. That means that if you add an IBAN to a space but later delete the space, you’ll only have 9 remaining IBANs left. 

To avoid getting rid of the space entirely, remember that you can also rename the space and reset its goals—this way, you won’t lose an IBAN forever. Find out more in the N26 Support Center article ‘IBANs for Spaces’ here.

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