N26 hits 250,000 US customers in first five months

After announcing that it had attracted 5 million customers overall, N26 Inc., the US subsidiary of N26 GmbH, is sharing numbers of its US customer base. Since launching in August 2019, the digital-only bank now counts 250,000 customers.

Through N26 , customers can open an account in less than five minutes, instantly transfer money to their friends with MoneyBeam, and open sub-accounts for their savings goals using Spaces. Accounts opened through N26 also have no hidden fees and offer access to a network of over 55,000 Allpoint surcharge-free ATMs. Also, users can get their pay up to 2 days earlier with direct deposit (limitations apply). Banking services in the US are offered in partnership with Axos Bank, Member FDIC.

“American consumers are too reliant on traditional banks and face roadblocks to their financial health that have no place in the 21st century. N26 was founded to radically transform the industry and break down these barriers through the power of technology. We’re incredibly proud to have reached a quarter-million U.S. customers in our first five months and we are just getting started. We have big plans to offer millions of future N26 users a feature-rich, easy-to-use banking experience.” – Nicolas Kopp, US CEO, N26 Inc.

“5 million customers is a great achievement, but it’s not just growth that we are after. We are today, one of the biggest players in digital banking. But we have not forgotten our original mission – to challenge an industry that is ripe for change. N26 has proved that banking can be simple and intuitive through the use of technology.” – Valentin Stalf, cofounder and CEO of N26.

Bottom Line: In the space of Chime which counted 5 million customers as of September 2019.