On April 19, 2017, mobile-only bank N26 launched N26 Business account, targeted for freelancers and self-employed. Customers can use one account to navigate both their business and private finances.
Business account is available in all markets for natural persons who are self-employed. This is the first step into the business segment and promised to be followed by an account for legal entities.
New customers can sign up paperless for the product within 8 minutes, just choosing N26 Business in the process. N26 Business comes with real-time push notifications for all transactions on the account and MoneyBeam – the instant money transfer. All account
and card functions can be monitored and controlled from the N26 mobile app, including blocking or unblocking a card, ordering a new card or changing a PIN. Automatic categorisations of purchases into categories give a clear overview where the money is going.
Moreover, freelancers can tag transactions associated with one project with as many hashtags as they want to and pull overviews for just that project. This also simplifies splitting the business from the personal purchases for tax reporting. The account also comes with a Mastercard Business that will give a cashback on all transactions of 0,1%.
“With N26 Business we bring our unique N26 mobile experience to freelancers and self-employed. We help them to fully focus on their business while saving costs for a
traditional business account, which may add up to a few hundred Euros per year. More business specific features will follow later this year.” says Valentin Stalf, founder and CEO of N26.
N26 is digitizing every dimension of traditional retail banks, but in addition to developing many product features directly in-house, N26 also selectively partners with world-class FinTechs and innovative financial services providers. N26 gives its customers one-click access to the best financial products by leveraging innovation from around the world.
Business current account is opened for free. You can see full pricing here
Watch N26 CEO’s presentation on how N26 is different from traditional banks: