Closure of UK bank
With the UK having left the EU at the end of January, we will in due course no longer be able to operate in the UK with our European banking licence. As such we can no longer open new N26 accounts and will be closing existing accounts on 15 April 2020. We have prepared a list of FAQs which you can find below in order to answer any questions you might have. We are sorry to be leaving and we understand this will be disappointing for our customers.
Yes. All account functionality (including the app, your card and automated transactions e.g. direct debits) will continue to work as currently until the account is closed on 15 April 2020.
Your deposits will continue to be protected under the German deposit guarantee scheme. Under the scheme, every N26 UK bank account is guaranteed up to the Pound Sterling equivalent of €100,000. You can read more here.
Key actions that you may want to take include:
If you have money in your account (including in Spaces), please withdraw and/or transfer it to an alternative bank account ahead of 15 April 2020.
If you have a negative balance, we ask you to top up your account.
If you have any automated transactions on your account (e.g. direct debits or deposits/salaries) you will need to make alternative arrangements with another bank before 15 April.
If you have money in your account, please transfer it to an alternative bank account. Click here for more information on how to make a bank transfer in-app. You can also remove money from your account by ATM withdrawal (up to the daily limit) or by spending the money on your account via card payment.
If you have a negative balance, we ask you to top up your account by bank transfer. You can find your account details on your N26 MasterCard, or in the My Account section of the app.
Regular or recurring payments on your account will no longer be supported after 15 April 2020. Please make alternative arrangements for all recurring payments linked to your account, such as:
- Repeating payments using your debit card (e.g. Netflix, gym membership)
- Direct debits (e.g. utility suppliers, insurance premiums)
- Where your debit card is stored in an e-wallet (e.g. PayPal, iTunes)
- Regular incoming payments (e.g. salary, dividends)
The payment will bounce and be returned to the sender’s account. You will need to find an alternative method to receive the payment.
All UK N26 accounts will be closed on this date. Our customer support team will still be on hand to answer any questions you might have. This will be accessible through a link on the website, which will remain live. We will contact you to advise that the account is closed and if there are funds remaining explain how you can recover them.
Yes. Please make sure to check all of your spaces so that you withdraw all the money from your account.
No. Once we close the account you will not be able to log into the N26 app or directly access historic account information. We advise you to download your N26 data before the account is closed. If you require details of your account in the future you will be able to request this through the N26 website.
You can remove the money out of your account using your card at an ATM; please note this is subject to the daily withdrawal limit. If you are concerned about your ability to transfer your money, please contact our Customer Service team who will be happy to help you.
We are required to keep certain data even after an account has been closed for legal reasons, which is in line with our publicly available data policies. You can find more information here.
Your N26 MasterCard will be automatically deactivated on 15 April 2020. You do not have to send it back to us, and can safely destroy it.
We will no longer be opening any new N26 accounts in the UK.
No, N26 is not part of the Current Account Switch Service (CASS).
Your Metal insurance will continue to be valid for journeys that begin before 15 April 2020. If you have a claim for an eligible journey, please contact Allianz, by email N26warranty.firstname.lastname@example.org or call 020 3481 4098.
We will stop charging membership fees for Metal or You from 14 March 2020 - the last month will be complimentary.
No. After your N26 account is closed, you will cease to have access to the benefits, including LoungeKey membership and other partner benefits.