N26 launches premium business accounts in Ireland

On Tuesday (26 June), German fintech player N26 announced the launch of its “Business Metal” accounts in Ireland. The premium accounts, which are aimed at freelancers and the self-employed, provide customers with 0.5pc cashback on all purchases.

According to N26, the introduction of Business Metal accounts in Ireland is the next step in the company’s efforts to create “more flexible and tailored” business banking experiences that are “better aligned” to people’s daily financial needs and lifestyles.

Customers that opt into the new offering from N26 will have access to partner deals with companies such as Google Ads, Boosted, And.co, Fiverr, Blinkist, 8Fit and Udemy. N26 said that this selection of partnerships is focused on providing customers with useful tools to build and manage their businesses and mental wellbeing.

The service is now available in customers in Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Iceland, Ireland, Lichtenstein, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Spain and Sweden. N26 is charging customers €16.90 per month for the service.

N26 Business Metal

Some of the other features included in the premium accounts include travel, mobile phone and medical insurance cover, which includes family members, as well as insurance for car and bike rentals.

Customers who opt into Business Metal will also have access to the start-up’s priority customer support services through telephone or the in-app chat feature, where they can ask questions related to personal accounts, receive guidance on features and report urgent technical support issues.

The account offers automatic categorisation of spending through its statistics feature, with the goal of removing the hassle of paperwork, balances and spreadsheets.

Georgina Smallwood, chief product officer, said: “With N26 Business Metal, we wanted to design a premium account specifically for freelancers and the self-employed, one that is better aligned to their individual needs and incorporates unique benefits like cashback, insurance and partner offers.

“In the future, we want to incorporate additional features to simplify the management of transactions and tax payments, for a more customised and individual banking experience.”

The company said that Business Metal customers will get a contactless Mastercard debit card that weighs 18g, which is three times more than a standard debit card.

Sarunas Legeckas, head of Ireland, said: “Freelancers and the self-employed are a growing, and increasingly important, part of the global workforce with around 323,900 self-employed individuals in Ireland today. Yet they are often overlooked and neglected by traditional banks.”