N26 officially launches in the US
Following a successful recent beta phase, German challenger bank N26 has officially launched in the US with open registration, writes Jane Connolly.
TechCrunch reports that N26 has also unveiled a new sub-account sharing feature called Shared Spaces. This is an extension of the existing Spaces feature, which allows customers to create sub-accounts for separate savings goals.
Shared Spaces allows users to invite up to 10 other N26 customers to deposit and withdraw money from a sub-account, designed for purposes such as shared holidays and bill splitting.
The new feature is only accessible to users with premium accounts – subscriptions start at €9.90 per month – and the admin remains in control, so it does not function as a joint account as such.
Currently card and bank transfers can still only be made from the main N26 account. But TechCrunch reports that the founder, Valentin Stalf, hopes to enable the attachment of different cards to different Spaces in the future.
Along with open registration in the US, N26 is launching MoneyBeam, a feature that allows customers to make instant payments to other N26 users.
N26 aims to open services in Brazil next year and Stalf has revealed that he wants the bank to list on the stock exchange in three to five years’ time.