European mobile bank N26 preps US launch

23. October 2017.
Launched in Germany and Austria in January 2015, N26 began as a current account with a Mastercard. It now operates as a fully-featured bank, reaching 500,000 customers in 17 European countries.

Customers get access to an instant overdraft, international transfers into 19 currencies through a tie-up with TransferWise, investment options via Vaamo, real-time consumer credits up to EUR25,000, and savings accounts from banks across Europe thanks to a recent deal with Raisin.

Now it has set its sights on the US market, inviting people to join a waitlist ahead of a mid-2018 launch. Rather than go through the arduous licensing process, it will follow the model of neo-banks such as Simple and Moven by partnering with a regulated financial services firm.

Says a blog: “Without physical locations, we’ll be able to easily expand into all corners of the US while offering the same seamless, user-friendly experience that has already spread across Europe.”

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