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N26 launches premium current account in UK

Theo Osborn | 12:00 Thursday 31st January 2019

N26 has launched its premium current account ‘Black’ in the UK.

It has a monthly subscription costing £4.90 and offers free unlimited foreign currency purchases and withdrawals worldwide.

The mobile bank claims that members will save an average of £151 a year in fees, based on estimated annual expenditure and days overseas.

Alexander Weber, head of international markets at N26, said: “The majority of UK customers are being hit by high transaction fees every time they use their card overseas.

“At N26, we don’t believe that spending abroad should be any different from spending at home.

“N26 is simplifying the daily financial decisions that customers face and N26 Black is the perfect fit for UK travellers.”

 Account holders can also access more of the bank’s financial goal-setting and budgeting functions, with an additional eight Spaces (saving features).

The news comes after N26 secured a $300m funding round earlier this month, taking its valuation to $2.7bn.

The mobile bank also has ambitious plans in the UK, aiming to attract several million UK customers in the next five years.

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