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Online & Mobile Banking

N26 launches Black for free foreign currency purchases

Thursday 31 January 2019 | 12:37 PM CET

Europe-based mobile bank N26 has launched its Black membership plan in the UK, to provide free unlimited foreign currency purchases and withdrawals worldwide.

With traditional banks, UK travellers are charged 2.8% for each non-sterling overseas debit card transaction. However, N26 Black aims to remove the exchange rates and transaction costs encountered through foreign travel. This means that Black customers will profit of no mark-up fees on foreign transactions and Mastercard’s best exchange rate, for a monthly subscription of GBP 4.90. All these will allow them to spend at home and abroad, without limitations.

Account holders will benefit from access to an additional eight Spaces, N26’s financial goal-setting, and budgeting function. Since overseas travel can complicate spending, Spaces will enable customers to visualise their goals and plan their future, whether that’s at home or abroad.

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