N26, Europe’s first mobile bank, is now offering business bank accounts for freelancers and the self-employed.
According to TechCrunch, N26 Business accounts are available in all European countries where the bank already operates. The account comes with a Mastercard Business card that will give a cashback amount on all transactions of 0.1 percent.
The company explained in a press release that new customers can sign up online for the product within eight minutes. N26 Business comes with the all of the perks associated with a mobile account, including real-time push notifications for all transactions on the account and MoneyBeam, the instant money transfer tool. All account and card functions can be monitored and controlled from the N26 mobile app, including blocking foreign transaction or setting a limit on ATM transactions if a customer rarely withdraws cash.
Freelancers will also benefit from the tags feature, which allows them to use hashtags to tag transactions associated with one project and pull overviews for that particular project. This will simplify organizing business purchases for tax reporting.
“With N26 Business we bring our unique N26 mobile experience to freelancers and self-employed. We help them to fully focus on their business while saving costs for a traditional business account, which may add up to a few hundred Euros per year. More business-specific features will follow later this year,” said Valentin Stalf, founder and CEO of N26, which already has 300,000 customers.