Germany-based challenger bank N26 recently announced it has introduced premium N26 Black account in Denmark, Iceland, Liechtenstein, Norway, and Sweden. According to N26, N26 Black targets frequent travelers and it removes the “uncertainty” of exchange rates and transaction costs encountered through foreign travel and provides customers with free unlimited foreign currency purchases and withdrawals at ATMs outside the eurozone.
“For a monthly subscription of € 9.90, Black customers benefit from no mark-up fees on foreign transactions and Mastercard’s best exchange rate. Next to that, N26 Black customers have 5 free withdrawals at ATMs within the eurozone per month.”
N26 Black also offers an insurance package tailored to the needs of young professionals and frequent travelers, designed together with Allianz Global Assistance Europe. The account covers foreign medical expenses, flight delays, luggage protection, and car rental, as well as mobile phone, cash, and purchase theft protection. Speaking about the launch, Francisco Sierra, Head of European Markets at N26, stated:
“With N26 Black we offer a banking experience that is flexible and tailored to our customers lifestyle: they can organize, withdraw and spend money, as well as control finances entirely from their smartphone, with unlimited free withdrawals at ATMs outside the eurozone.”
N26 Black is currently available for customers in Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Portugal, Slovakia, Spain, Sweden, and the UK.