N26 Launches New €4.90 Subscription Plan

The digital bank N26 is introducing a new subscription option known as N26 Smart. This plan is positioned as a middle-ground offering, providing enhanced banking capabilities without including travel insurance coverage.

Currently available in Europe, N26 offers a basic, no-fee plan alongside two premium tiers: N26 You and N26 Metal. The N26 You plan is priced at €9.90 monthly and provides increased limits, such as five complimentary ATM withdrawals (compared to three) and fee-free foreign currency transactions.

An N26 You account allows customers to establish separate sub-accounts, referred to as N26 Spaces, which can be shared with other N26 users or utilized for savings purposes. Subscribers to N26 You also receive a travel insurance package encompassing medical coverage, trip protection, and flight insurance, alongside access to exclusive partner benefits.

N26 Metal represents the bank’s most comprehensive plan, costing €16.90 per month. It incorporates all the benefits of N26 You, plus additional perks like car rental insurance while traveling internationally and mobile phone insurance. As its name indicates, this tier also includes a metal debit card.

The newly launched N26 Smart subscription is available for €4.90 per month and is tailored for individuals who do not require travel insurance. N26 Smart subscribers can create up to 10 sub-accounts and enjoy five free ATM withdrawals each month. Furthermore, they gain direct access to N26’s customer support team via phone, in addition to the existing in-app chat support.

N26 is also introducing a new round-up feature specifically for N26 Smart users. This feature automatically rounds up each transaction to the nearest Euro, depositing the difference into a dedicated sub-account. N26 Smart accounts also provide access to a range of colorful debit cards, mirroring the color options available with N26 You.

This launch represents an initial phase, as N26 intends to completely redesign its subscription offerings. In the coming months, N26 You will be rebranded as N26 International, with a greater emphasis on features supporting cross-border banking. N26 Metal will evolve into N26 Unlimited.

Regarding the standard, free N26 account, the company’s focus will shift towards digital cards. Some existing users of the free account are anticipated to upgrade to the N26 Smart plan to retain certain features, which is expected to positively impact the company’s financial performance.