German neo bank N26 has rolled out its mobile banking app nationwide to US consumers after completing a two-month Beta programme.
Starting today, US residents can download the app directly from the Apple App Store and Google Play and apply for an N26 account and Visa debit card provided through FDIC-insured Axos Bank in five minutes.
The full-scale release also includes N26’s peer-to-peer payment service MoneyBeam, which enables users to send payments directly to other N26 account holders in their smartphone contact lists.
Another innovative offering that is becoming increasingly popular in Europe is the ability to draw down funds two days in advance of salary payments into the account without incurring overdraft fees.
Each account also comes with Spaces, which are sub-accounts that help N26 users organise and achieve their financial goals.
“We are excited to now open up N26 to the millions of US consumers who are frustrated with their current banking experience. We give users a banking app and Visa debit card that matches their lifestyles,” says Nicolas Kopp, US CEO, N26 Inc. “We created a mobile, fast and easy way to bank.”
Since the initial product launch in 2015, N26 has reached more than 3.5 million customers in 24 markets across Europe.
With a valuation of $3.5 billion, N26 is currently focused on overseas expansion, first in the US, followed by Brazil.