Berlin-based digital bank N26 has launched joint accounts in 21 European countries, allowing users to manage personal and shared financial responsibilities through one application, rolled out in countries like Austria, Belgium, Spain, and Sweden.

According to the company, customers can create joint accounts using the N26 app without any paperwork.

Expanded Financial Management

Joint accounts are designed to help users track expenses, filter information by participant, and monitor monthly joint budgets. Each account has a dedicated IBAN, making it easy to manage and share common expenses like rent or household bills.

Additionally, participants have full legal ownership of the joint account and access to intelligent insights within it, ensuring transparent financial partnerships. N26's joint accounts complement its existing Shared Spaces feature, which provides solutions for creating sub-accounts with close contacts.

N26 co-founder and CEO Valentin Stalf stated, "N26 customers can now easily open joint accounts with partners or loved ones with just a few taps, without the complexity or paperwork traditionally associated with it, enabling seamless management of personal and shared finances within the N26 app while fostering healthy financial habits and working towards shared financial goals."

Expansion of N26 Services

According to the digital banking firm, these solutions enable customers to budget for various activities, share expenses with roommates, or split significant expenses without the limitations of traditional joint bank accounts. N26, founded by Stalf and Maximilian Tayenthal in 2013, boasts over 8 million customers across 24 markets and processes transactions exceeding 100 billion euros annually.

Last month, N26 expanded its instant savings account to 13 European countries, including Austria, Belgium, Estonia, Finland, Greece, Ireland, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovakia, and Slovenia.

The savings account offers tiered interest rates, with an annual rate of 4% for N26 Metal customers and 2.8% for holders of N26 Smart, You accounts, or free N26 standard accounts.