N26 to quit UK 'owing to Brexit'

The Berlin-based N26 will close down in the UK from 15 April as the digital bank says the UK leaving the European Union makes its business unfeasible.

N26 said on its blog: "With the UK having left the EU at the end of January, we will in due course no longer be able to operate in the UK with our European banking licence. As such we can no longer open new N26 accounts and will be closing existing accounts on 15 April 2020. We have prepared a list of FAQs which you can find below in order to answer any questions you might have. We are sorry to be leaving and we understand this will be disappointing for our customers."

More details to follow.