Torrevieja Forum and Discussion Board

If you have a N26 account and are a UK resident, your account will be closed on 15th April 2020

https://n26.com/en-gb

Lincoln45 wrote: 13 Feb 2020 14:26 If you have a N26 account and are a UK resident, your account will be closed on 15th April 2020

https://n26.com/en-gb

I've never heard of N26 so had to Google them.

Interesting that they are blaming the closure of UK accounts on the UK leaving the EU, yet only started offering UK accounts after the EU referendum.

I assume that the European Banking Licence they refer to is a blanket licence for all activities in EU countries, but as they operate worldwide they must hold individual licences for countries outside of the EU, so they could have applied for a UK Banking Licence if they wanted their UK operations to continue.

Reading between the articles on Google it suggests that their UK business is performing badly, therefore the UK leaving the EU is a more convenient excuse to put out to the financial markets as opposed to any negativity associated with their UK business operations.

Lincoln45 wrote: 13 Feb 2020 14:26 If you have a N26 account and are a UK resident, your account will be closed on 15th April 2020

https://n26.com/en-gb

We are UK resident and our Spanish N26 account will be unaffected.

If you want to open an account, for use in Spain, you'll have to use the european version at https://n26.com/en-eu
You'll need to change the location to Spain during the application (If applying from the UK) and you'll need a Spanish address to receive the debit card. The account provides a Spanish IBAN (ES) and we use this to pay all our direct debits in Spain. (No bank charges)

This is a good account for non residents who need to pay for utilities in Spain without paying hefty bank charges (Sabadell are now €140 per year). Downside.....The debit card only allows 5 fee free ATM withdrawals a month, then you pay 1.7%..... We just use this for emergencies and use our UK Santander 123 account for fee free ATM withdrawals.