N26 launches premium business accounts in Ireland

16 Jun 2020

The N26 app on the iOS app store. Image: postmodernstudio/Depositphotos

German challenger bank N26 has launched a new business account aimed self-employed business owners and freelancers in Ireland.

Today (16 June), German fintech player N26 announced the launch of its Business Metal account in Ireland. The premium account, which is aimed at freelancers and the self-employed, costs €16.90 per month and provides customers with 0.5pc cashback on all purchases.

According to N26, the introduction of Business Metal in Ireland is the next step in the company’s efforts to create “more flexible and tailored” business banking experiences that are “better aligned” to people’s daily financial needs and lifestyles.

Customers that opt into the new offering from N26 will also have access to partner deals with companies such as Google Ads, Boosted, And.co, Fiverr, Blinkist, 8Fit and Udemy.

The service is now available in customers in Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Iceland, Ireland, Lichtenstein, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Spain and Sweden.

N26 Business Metal

Some of the other features in the premium account include travel, mobile phone and medical insurance cover, as well as insurance for car and bike rentals. Business Metal customers will also have access to priority customer support services through telephone or the in-app chat feature.

The account offers automatic categorisation of spending through its statistics feature on the N26 app. Business Metal users will also get a contactless Mastercard debit card that weighs 18g, which is three times more than a standard debit card.

An app displaying different savings funds and a current account.

The N26 app. Image: N26

Georgina Smallwood, chief product officer at N26, said: “We wanted to design a premium account specifically for freelancers and the self-employed, one that is better aligned to their individual needs and incorporates unique benefits like cashback, insurance and partner offers.

“In the future, we want to incorporate additional features to simplify the management of transactions and tax payments, for a more customised and individual banking experience.”

Sarunas Legeckas, head of N26 Ireland, added: “Freelancers and the self-employed are a growing, and increasingly important, part of the global workforce with around 323,900 self-employed individuals in Ireland today. Yet they are often overlooked and neglected by traditional banks.”

Last month, N26 raised $100m in an extension of its Series D funding round. It said that the investment will help accelerate product development and strengthen its footprint in core markets, where demand for mobile banking has increased in recent months.

The N26 on the iOS app store. Image: postmodernstudio/Depositphotos

Kelly Earley was a journalist with Silicon Republic