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N26 hits 500,000 US customer mark

Source: N26

Today, N26, the mobile banking platform redesigning banking for the 21st century, is celebrating its one year anniversary in the U.S. with nearly 500,000 customers.

Since announcing its public U.S. launch in partnership with Axos Bank in August 2019, N26 has released a wide range of localized products and services specifically for its U.S. customer base in an effort to provide an experience that is designed to fit modern lifestyles in today’s complex, challenging and digital-first world.

“Our global mission is to empower people to live and bank their way and, in our first year in the U.S., we have already seen half a million customers sign up to become more financially confident,” said Alexander Weber, Chief Growth Officer of N26. “The flexibility and security that digital banking offers is important now more than ever as the pandemic has changed the way consumers save and transact. Over the past 12 months, we have learned a lot about our U.S. customer base and continue to listen to their feedback to create features and services that meet their needs. We’re excited to introduce additional tailored product features in the coming year and welcome new users to join us in experiencing a beautifully simple banking platform.”

Aiming to disrupt the traditional banking sector, N26 is transforming the banking experience for the 21st century with product features which include the ability for customers to get their paycheck up to 2 days earlier with direct deposit*, cashback on subscriptions, and exciting partner discounts on wellness, education, fashion, entertainment, and more. The N26 mobile banking app is beautiful, secure and rewarding, with a fully digital and customer-centric product that aligns with the way people live today.

N26 U.S. customers come from all over the U.S., with the highest concentration of users being found in New York, followed by Chicago, Houston, Miami and Atlanta. Additionally, the average age of the N26 U.S. customer is 36. With 35% in their 20s, 34% in their 30s, and 19% in their 40s.

N26 Year in Review: Listening, Learning & Building
According to a survey of 10,000 adults across Europe and the U.S. commissioned by N26, almost 75% of Americans surveyed selected a negative phrase to describe their feelings about their finances. To help overcome this financial stress, the N26 team has spent the past year listening to customer feedback and building features and services that customers not only want but also need.

Below are features that N26 introduced within its first year in the U.S. market:

• Contactless payments - using the N26 debit card, Google Pay or Apple Pay
• Perks - discounts, promotions and cashback from brands users love
• 2-day early direct deposit - users get their money up to two days earlier*
• Easier account funding - users can quickly and securely transfer funds from another bank account or debit card while in the N26 app
• Spaces - sub-accounts to help users organize and achieve financial goals
• Spending limits - users can set personal limits on purchases and payments made with their N26 debit card
• ATM locator - the in-app locator makes it simple for users to access their money with unlimited free ATM withdrawals at over 55,000 Allpoint locations, plus users receive 2 free out-of-network withdrawals every month
• Dark Mode - one of the most requested features by users and now seamlessly integrated in-app as part of a mobile device’s light/dark settings

We’re just getting started
N26 is committed to further innovation and bringing U.S. users more features that will give them confidence in managing their finances. In the coming months, N26 will roll out additional rewards and cashback opportunities with the N26 debit card, with additional product features to be announced.  

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