N26 reaches milestone of 200,000 customers in the Netherlands

Today we’re delighted to announce that we’ve reached an important milestone in the Netherlands: 200,000 customers. Since launching there in December 2016, we have grown exponentially—and largely thanks to our customers trusting in us and recommending N26 to friends and family.

This became even truer after doubling in size in 2020 to over 200,000 customers, ranging from 18-year-olds to folks in their 90s. We strongly believe that this is because our bank is built for the times we live in, not for a specific generation.

Since the launch, Dutch customers have steadily become experts in using our features to organize their payments and savings.

Innovation is very important to us—we’re constantly looking for new ways to provide a simpler, more enjoyable banking experience. For example, we launched Spaces in August 2018 to give our customers more options to save money and organize their budgets through sub-accounts. This is a special savings feature within the N26 app that lets customers easily swipe and drop budgets for certain types of spending—like grocery budgets or savings for a vacation. In the Netherlands, the number of Spaces created by Dutch customers increased this year by over 18%.

In 2020, Dutch customers made smart use of Shared Spaces during lockdown—this was an extension of our iconic Spaces feature that lets you share funds with friends and family, and set money aside together. 

In a recent study from N26, we discovered that more than half of the Dutch (52%) are faced with unexpected fees and charges every year which amount to 29 euros on average at a time. In fact, one in three would like their bank to become more transparent about the costs involved in banking and how banks profit from it.

Our premium subscription services are popular among Dutch customers because they are transparent about fees and deliver a strong range of benefits that make for a personalized banking experience. 

N26 aims to support its customers by adapting to their lifestyles. This is why we regularly establish partnerships with brands that our customers recognize and appreciate, such as Tidal, Adidas or Booking.com.

 Those with N26 You and N26 Metal premium accounts can also benefit from a series of benefits like travel and lifestyle insurances and exclusive partner discounts. And while customers with N26 You can also choose one of five card colors that suit them best, N26 Metal card holders can pick from three metallic shades of stainless steel for an extra level of sophistication.

This past year has also seen renewed attention from a broader range of customers, from all stages of life. The number of customers between 50–54 years old has increased 66%, and makes up one of the top three fastest growing age groups that opened an account at N26—next to the continued 75% growth in the 20–24 age group.

The 18–19 age group had the biggest jump in membership, with a staggering rise of 252%. These young people are choosing the bank that will fit their needs right at the beginning of adulthood, and will hopefully become satisfied long term customers.

The Netherlands is now one of the fastest growing countries for N26, out of the 25 countries offering our services.

We are very excited to continue to earn the trust of the Dutch people over the coming years and grow our customer base there. This new milestone alone has come at a pivotal moment in our journey to lead the way with subscription banking in the Netherlands, and deliver the most relevant banking experience available.