We want to be more open and responsible so we’ve updated our Terms and Conditions—here’s why.

Transparency and simplicity is at the core of everything we do. This is why we’ve recently updated our Terms and Conditions to better reflect the costs of certain features to ensure that they remain clear and simple, and are only applicable to the customers who use them. These changes improve our products and services, while also encouraging an increasingly digital mindset.

We’re always on the look-out for better, more cost-effective and flexible solutions for our customers. This is why we’ve expanded the number of retailers where customers can get cash using a QR code to 14,550 CASH26 outlets throughout Austria, Italy and Germany. And we’re adding to it all the time—for example last month we added 375 Penny stores in Italy. This gives our account holders even more choice and convenience, and also reduces their dependence on traditional banks and their ATM networks, which are much more expensive than retail locations.

It’s important for us to be fully transparent when applying fees to cover the costs of specific features, and make sure they’re only applicable to the customers who use them. We also want to be clear that fees are only to cover costs where they’re accrued, and to ensure that we’re building a bank that is transparent and fair. As part of this, we’ve restructured some of our membership benefits.

With N26, all customers receive free ATM withdrawals, with the number varying across different bank accounts and users. For example, our Terms and Conditions now state that N26 You customers will continue to get 5 ATM withdrawals, alongside all other customers who receive ongoing payments of more than €1000 into their account each month. In addition, our Metal customers will now have 8, rather than 5, free monthly withdrawals. After the limit of these free withdrawals is reached, we’ll continue to charge a competitive €2 per withdrawal.

In Italy and Austria, customers can enjoy unlimited, free cash withdrawals at ATMs, and CASH26 opens up unlimited free withdrawals across 14,550 European retailers. This is an easier, more convenient and sustainable way to withdraw money without relying on an out-dated and costly ATM network.

From today, customers who want to pay funds into their account can also use our CASH26 network for a one-off 1.5% deposit fee. This covers the operating costs of the service, including the transportation and security associated with handling that money. Customers can avoid these costs and their environmental impact by using more digital options such as online bank transfers and instant payments via MoneyBeam.

At N26, we want to continue to help customers live better, as well as bank better. As part of our drive to be more socially responsible, we’ve introduced a 3% gambling fee as a practical step to help people who want to reduce their gambling habits. In addition, this also helps us in the fight against fraud as there can be more fraudulent activity associated with these types of transactions.

In efforts to reduce our carbon footprint, we also want to ensure that customers are only ordering cards that they really need. To limit environmentally-costly services such as express card delivery, which also has a higher production cost, we’ve increased fees for additional card delivery to try to deter people from using these options. For those who still choose to, we’ve improved delivery times.

Shortly, we’ll also be announcing a new feature that will remove the need to wait for a physical card to arrive, and will also help customers to continue to use their account if a card is lost or stolen. We are increasingly taking more steps to become a greener and more sustainable bank.

N26 is a fully global digital bank, and differs fundamentally from traditional banks. From day one, we’ve focused on creating smart features, and a seamless mobile banking experience. We remain committed to that original drive—to being different and to offering a more modern and transparent way to bank—while continuing on our path to disrupt and innovate traditional banking through smart technology and intelligent design.