N26 has launched its 'Black' membership plan in the UK, a subscription based current account, providing free unlimited foreign currency purchases and withdrawals worldwide.
Taking on the likes of Revolut's premium offering N26 Black, for a monthly subscription of £4.90, offers customers no mark-up fees on foreign transactions and Mastercard’s “best” exchange rate, In addition account holders can benefit from access to an additional eight Spaces, N26’s financial goal-setting and budgeting function.
Alexander Weber, Head of International Markets, said: “The majority of UK customers are being hit by high transaction fees every time they use their card overseas. At N26, we don’t believe that spending abroad should be any different from spending at home. N26 is simplifying the daily financial decisions that customers face and N26 Black is the perfect fit for UK travellers.”
N26 recently secured $300m of new funding, which it will use to spearhead its US launch later this year, valueing the bank at $2.7bn. This makes it one of Europe’s most valuable financial technology start-ups.
