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N26 Introduces Spaces, a New Feature that Gives Users Maximum Flexibility to Organize their Money
N26 today announced the launch of Spaces, a new feature that provides a fast and easy way to set aside money based on users’ personal preferences and needs. By enabling users to instantly move funds to their personalized Spaces and back to the main account, N26 gives customers total flexibility and control over how they organize their money and keep track of multiple financial goals. This is the next building block in N26’s efforts to deliver the most flexible banking experience in the world.
For the first time, users will be able to create tailored sub accounts to save or allocate money for the purchases and experiences that matter most to them — whether it’s a weekly dining and entertainment budget, or saving up for a dream vacation. Because Spaces are set up as separate sub accounts, they make it even easier for users to maintain discipline over their daily spending habits. Users have the flexibility to customize their Spaces by choosing names, transferring money seamlessly between accounts with a simple drag-and-drop motion, and opening and closing as needed. They can also set up savings goals for each Space they create, allowing them to track their progress in reaching different goals.
“With Spaces we give users the freedom to set up their financial world without the limitations of traditional banking,” comments Valentin Stalf, CEO and Co-Founder of N26.
By the end of 2018, customers will have the option to set up spaces that they can share with others. For example, customers will be able to share a space with friends for a weekend trip or manage household expenses with their partners. Additionally, budgeting rules and automation will be introduced later this year. Over the next six months, users will be invited to help define the future iterations of Spaces to create an even more individualized experience.
Spaces is available immediately to customers in all 17 markets that N26 operates. N26 customers can open two Spaces in addition to their primary account, while N26 Black and N26 Metal customers can open up to 10 additional Spaces.
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