Less life admin, more living. Introducing Spaces with IBANs

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 in each space?

Today, we’re delighted to announce that all premium customers can now add IBANs to Spaces sub-accounts—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.

N26 Spaces with IBANs are now available to premium customers in Belgium, Denmark, Estonia, Finland, Greece, Iceland, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Sweden, and Switzerland.

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.

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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.

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!

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.

Creating new Spaces with IBANs is simple.

1. Go to the ‘Finances’ 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.

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

1. Go to the ‘Finances’ 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.

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! 

N26 customers 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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