Hundreds of thousands N26 bank accounts forced to close due to Brexit

Living in the Netherlands but banking with N26 with a UK account? Well, not for very much longer. The challenger bank has dealt a further blow to those reeling from Brexit, announcing that all UK customers accounts will be closed.

The bank blamed difficulties created by Brexit. N26 said that the ‘timing and framework’ of the withdrawal agreement made it impossible to continue providing accounts for UK citizens.

About 200,000 customers will be affected when their accounts close on April 15. The bank only operates under a European banking licence, said Thomas Grosse, chief banking officer at N26.

YOU MAY LIKE: 7 reasons why bunq is the perfect bank for expats

“While we respect the political decision that has been taken, it means that N26 will be unable to serve our customers in the UK and will have to leave the market.”

Thankfully, accounts in other markets will not be affected.

What do customers need to know?

For now, the accounts will operate as normal – phew! But, after April 15 any accounts with no money in them will be closed.

If you still have cash in your UK N26 account after this, it will be transferred to a holding account.

Affected by the sudden announcement? Let us know in the comments below!

Feature Image: AnnaCor/N26

Samantha Dixon 🇦🇺
Samantha Dixon 🇦🇺https://gallivantations.com
Sam has over six years experience writing about life in the Netherlands and leads the content team at DutchReview. She originally came to the Netherlands to study in 2016 and now holds a BA (Hons.) in Arts, a BA (Hons) in Journalism, and (almost) a Masters in Teaching. She loves to write about settling into life in the Netherlands, her city of Utrecht, learning Dutch, and jobs in the Netherlands — and she still can’t jump on the back of a moving bike (she's learning!).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related posts

Latest posts

These are the only Dutch cities where room prices are actually going down

While the prices of rooms are increasing almost everywhere in the Netherlands, four Dutch cities are seeing a decrease in the price of rental...

Bus too full? Dutch municipality asks residents (including schoolchildren) to hitchhike instead of using public transport

We’ve all experienced the frustration of waiting for a bus that will never come. Now, imagine how you would feel if your city asked...

Here’s one way to help reduce your plastic consumption in the Netherlands

As of September 2024, only 7% of plastic packaging used in the Netherlands is actually recycled. This means that many of the everyday products...

It's happening

Upcoming events

The latest Dutch news.
In your inbox.