Is N26 Really Leaving the UK Because of Brexit?

Yesterday N26 announced that they were ceasing operations in the UK citing Brexit as the reason; 200,000 N26 customers are affected by the news; N26 first launched in the UK less than 18 months ago, just five months before the UK was originally going to leave the EU; AltFi digs further into a blog post where N26 was assuring customers that they shouldn’t worry, “While we can’t predict what the 31 October will bring, we want to reassure you that we’ve got measures in place to ensure it’s as painless as possible in terms of your N26 account, no matter what the outcome. The good news is that you, as a N26 customer in the UK, will not experience any changes to the way you can use your account – regardless of the 31 October outcome.” N26 will no longer be able to use their German banking license in the UK and alternatives were apparently too expensive to pursue; it is worth mentioning that N26 is well funded, bringing in $170 million in their last round; some believe that the digital banking space has become too crowded in the UK. Altfi

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]