Berlin-based challenger bank N26 has launched a premium subscription service called N26 Smart. The new monthly subscription combines a slew of premium features of the service and other benefits, including new functionalities that will help users organise their finances.
N26 Smart features detailed
N26 Smart, the new monthly premium subscription service, will be bundled on top of N26’s digital current account. It will include the following features at the cost of €4.90 per month. Firstly, there will be dedicated phone support along with in-app chat support, up to 5 free ATM withdrawals per month and global payments in any currently sans any fee, and curated benefits and offers from partners.
Users can access to up to 10 ‘Spaces’ – N26’s sub-accounts along with Shared Spaces – that will let users save, spend and manage money with a maximum of 10 people. There will be access to the new Round-Ups feature, which will round each purchase to the nearest Euro automatically and set the spare change to help users increase their savings with minimal effort. Finally, users can choose from five different colours for the N26 Smart Mastercard – Sand, Slate, Ocean, Aqua, and Rhubarb, to make a statement.
The subscribers of N26 Smart can access all intuitive features of the paperless and branchless banking experience offered by N26. These include 100% digital account opening, automatic categorisation of spending via the statistics feature, instant notifications, free global payments with Google Pay and Apple Pay, in-app access to N26 Mastercard’s digital version, and fund protection of up to €1M under the German Deposit Protection Scheme.
Notably, the benefits of N26 Smart premium monthly subscription will be available to both self-employed individuals and freelancers in the N26 Business Smart subscription. It will add 0.1% cashback on all card spends as well.
“Everybody should be empowered to manage their money in a way that makes sense for their priorities and way of life. With more and more customers turning to digital banking in these uncertain times, N26 Smart will put our most popular tools at our customers’ fingertips at a budget-conscious price point, helping anyone effortlessly manage their money digitally with confidence and ease,” says Valentin Stalf, co-founder and CEO of N26.
Other N26 updates coming soon
Notably, it is claimed that the launch of N26 Smart is one of the planned updates that will soon be brought to the company’s product portfolio. All the new updates are likely to be rolled out to the digital bank’s free and premium products over the coming months. There will be changes to N26 Standard, which will provide a 100% virtual payment experience to N26 digital card users, N26 You will become N26 International with borderless banking features, and N26 Metal will become N26 Unlimited offering the best digital banking experience, claims the company.
The startup announced securing over €92.29M in Series D funding extension, earlier in May this year. Series D round of funding for N26 commenced back in January 2019. The startup has now announced an extension of it to an overall value of €526M, while maintaining its valuation at €3.23B.
Main image picture credits: N26