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N26 addresses the Covid-19 crisis
N26 addresses the Covid-19 crisis
Fintech

N26 addresses the Covid-19 crisis

By Amelia Tomasicchio - 6 Apr 2020

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To help those who may be isolated at home or in areas with postal restrictions due to the Covid-19 pandemic, the so-called “digital bank” N26 has launched a new feature, allowing customers to use the account via apps and without the need to wait for the physical card to arrive.

After the first top-up, N26 customers will be able to activate their digital card on mobile by signing up with Apple or Google Pay, for up to a maximum daily charge of €200. However, this feature will not allow withdrawal from ATMs.

Andrea Isola, General Manager of N26 Italia, explained:

“The health crisis that we are facing at a national and global level is forcing people to rethink their consumption and purchasing habits, accelerating the transition to digital tools also in the banking world. Digital adoption, in fact, is having an impact on a large scale, not only for generations already accustomed to the use of technology but also for older people who until a few months ago were not used to rely on technology for many aspects of everyday life. We have therefore redesigned our onboarding process to offer everyone a 100% mobile and immediately available banking solution, without the need to wait for the physical card to make payment transactions. The experience is thus completely paperless and in about 8 minutes our customers can register their new account without having to go to a physical branch. We also keep our Support Center active 7 days a week so that we can respond quickly to any problems our customers may have”. 

The new functionality is also useful in situations such as theft or loss. In this case, customers simply need to block their existing card and reorder a new one via the app.

In addition, with MoneyBeam it is possible to easily split payments or bills with friends and family, and with Spaces it is possible to set up secondary accounts to save money, similar to a piggy bank.

The feature will be available to both new and existing customers who are waiting for their cards to be delivered, as well as customers who reorder their cards or switch to a premium product for 30 days after creating their mobile wallet card.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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