INSUBCONTINENT EXCLUSIVE:
Challenger bank N26 is announcing two things this week
First, the company lets you share sub-accounts with other N26 users in just a few taps
Second, after a limited beta test, the company is officially launching in the United States with open registration.Shared Spaces could be
seen as an alternative to joint accounts
The feature could be particularly useful for groups with more than two persons and situations that temporarily require a shared account
base can access the feature for now
N26 plans to gradually roll out Shared Spaces to all users.The company is building this feature on top of Spaces
This feature has been around for a while
It lets you create a sub-account and set aside some money in that separate sub-account
You can set a savings goal and transfer money on a regular basis.Shared Spaces is basically a multiplayer version of Spaces
When a user creates a Space, they can invite up to 10 other N26 users to that Space
While the original user remains the owner of the Space, other users can freely deposit and withdraw money from the shared account.Sending an
invite is the equivalent of granting a power of attorney on a Space
The admin of the Shared Space is the only person who can add and remove participants to the Shared Space
You can invite free users, but free users are limited to two active Spaces
Your card and bank transfers remain tied to your main N26 account
Valentin Stalf told me that there could be a feature that lets you attach different cards to different Spaces in the future.N26 started
accepting customers in the United States in early July
N26 is also launching MoneyBeam in the United States , a Venmo-like feature that lets you instantly send money to other N26 users.N26 is
Current partners include Aaptiv, Blinkist, Luminary and Tidal.I already covered the United States launch back in July, so head over to my
previous article to learn more.
