Europe's first mobile bank is bringing business features to smartphone users...
N26, the German fintech startup that essentially operates as low-cost, smartphone-based bank, is now offering business accounts for Irish freelancers and the self-employed.
Starting today, people can avail of N26 Business to navigate both their business and private finances. The company, which has a full European banking licence, says that new customers can sign up for the service online within eight minutes, and will have access to current N26 features and a Business Mastercard that offers cashback of 0.1% on all transactions.
N26 Business comes with real-time push notifications for all transactions on the account and the instant money transfer MoneyBeam.
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.
For freelancers, transactions associated with specific projects can be tagged and tracked separately, making it easier to split business expenses from personal purchases when it comes to tax reporting.
Valentin Stalf, founder and CEO of N26, commented:
"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."
Opening a new bank account takes only eight minutes and can be done directly from your smartphone. Users receive a Mastercard to pay cashless or withdraw cash all around the world.
They can block or unblock their card with a simple click and send money instantly to friends and contacts. N26 was founded by Valentin Stalf and Maximilian Tayenthal in Berlin back in early 2013. In two years, it has acquired more than 300,000 clients in 17 countries.