The neobank N26 opens its Savings Account to freelancers with a Spanish IBAN, interest without deposit cap, and withdrawals without penalties for their business.
The German neobank N26 has launched a savings account aimed at freelancers and small businesses, according to information published by autonomosyemprendedor.es. The product aims to allow self-employed workers to generate returns on their savings without taking risks and to maintain the availability of their money.
The entity, based in Berlin and holding a European banking license, presents the account as a further step in its expansion within the European Union. According to the company, the offer is designed exclusively for the activities of freelancers and has been extended in Spain to business clients.
Among its features, N26 highlights that it has no limit on the interest-bearing balance, allowing account holders to increase their savings without a deposit cap. Additionally, the returns are not limited to the first year, meaning it would not be necessary to change accounts after twelve months.
The account also does not impose penalties when withdrawing part or all of the deposited money. According to the neobank, the customer does not lose interest by accessing their funds.
The product is available to both new clients and those who already have an account, whether personal or business, and all will receive the same interest rate. The entity indicates that the rate is around 2.26%.
N26 also points out that it is the only neobank partner of the Social Security, which allows freelancers to receive aid and benefits from the Treasury in their account. The account also includes a Spanish IBAN, which the company presents as a way to avoid the so-called IBAN discrimination, meaning cases where services like electricity or internet, or even the Administration itself, do not accept payments from an account in another EU country.
"It offers self-employed users greater control over their money," according to the entity itself.
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