German challenger bank N26 has extended its partnership with international payments company TransferWise, which will enable it to offer more options for foreign currency transfers.
Now available in over 30 currencies, the digital bank said that it has also enhanced the in-app design for a more transparent customer experience.
The announcement comes in response to the rising popularity of international money transfers. In fact, N26’s own research demonstrates that their 43% of its European customers use it to pay bills in another country, 35% used it to help family members living abroad, 23.7% bought things from abroad, 23.7% made foreign currency investments and 17.5% paid friends and family.
Available for new and existing N26 account holders across Europe, the expanded TransferWise functionality will enable customers to make international money transfers through a quick, intuitive, all-in-the-app experience.
“At N26 we listen to our customers and that’s why we’re really excited to announce that we’ve extended our international money transfer portfolio to now include over 30 of the most requested currencies,” said Georgina Smallwood, chief product officer at N26. “Deepening our partnership with TransferWise, a company that shares our goal to provide a fair and transparent banking experience, is a natural step as part of our ambition to become the bank the world loves to use.”
Steve Naudé, product manager for banks at TransferWise, added, “Through N26’s access to our global payment infrastructure, their customers are able to send money quickly, transparently and conveniently, directly from the N26 app. The extension of our partnership helps N26 further strengthen its market position across Europe as one of the go-to banks for people who want to transfer money internationally at a low cost and high speed. It gets us one step closer to achieving full transparency in the finance industry, something we’ve been campaigning for since we started.”
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