N26 Launches Frictionless U.S. Rewards Program to Help Customers Easily Earn Cash Back with Everyday Spending

Rhea-AI Summary

N26 has announced an expansion of its Perks rewards program through a partnership with Dosh®, enabling customers to earn cash back on purchases made with their N26 debit card. Automatic enrollment means customers can receive cash back in categories such as groceries and restaurants without needing to activate offers. This program aims to provide financial relief to customers impacted by the pandemic. Additionally, N26 has introduced new savings features allowing automatic payments to personalized sub-accounts, enhancing financial goal management.

Positive

• Expansion of Perks rewards program through Dosh partnership to earn cash back.
• Automatic enrollment in the rewards program enhances user experience.
• New savings features introduced for better financial management.

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• None.

NEW YORK, March 9, 2021 /PRNewswire/ -- N26, the mobile banking platform redesigning banking for the 21st century, today announced the expansion of its Perks rewards program through a partnership with Dosh®, the fastest growing card-linked offer platform, to help customers easily earn cash back when making purchases with their N26 debit card. N26 account holders are automatically enrolled in the Perks program and can now earn cash back in various categories such as groceries, local businesses, big box retail and national quick service restaurants.

"The goal of our Perks program has always been to help customers save when spending with their debit card on brands they love," said Alexander Weber, Chief Growth Officer at N26. "This is now more important than ever with the impact of the recent pandemic putting financial strain on millions of Americans. With this expansion, customers will earn cash back directly in their accounts when spending on more everyday essential items like gas and groceries."

Following the initial launch of the Perks program in December 2019, this new offering powered by Dosh®, allows N26 customers to get automatic cash back at a variety of businesses, from national retailers to local restaurants. Unlike other rewards programs, customers will get money added directly back to their account without having to check back to "activate" offers, calculate a confusing points system, or deal with limited ways to use rewards. Account holders are automatically enrolled and receive cash back rewards when spending with participating merchants which will appear as a credit in their main account every 15 days. The program will also be closely monitored for customer spending activity to inform future vendors that will be added to the program.

"N26's expansion of their Perks program into cash back is going to provide incredible value to their customers at a time when many Americans could use the additional cash," said Ryan Wuerch, CEO of Dosh. "Now that Dosh is a part of Perks, account holders can automatically earn cash back simply by using their N26 card for everyday purchases."

In addition to the new rewards offering launched today, N26 also recently added features that help customers reach their financial goals within the Spaces function, the free personalized sub-accounts that enable customers to save or allocate money how they want. The new savings features allow customers to automatically set recurring payments from their main account to any given goal, or automatically round up every purchase and deposit the change into a space with an option to double, triple or multiply the round-up by five, offering more ways to help customers reach their goals faster.

To learn more about the expansion of N26's Perks program, visit here.

About N26
N26 GmbH ("N26") is building the first mobile banking platform the world loves to use. Valentin Stalf and Maximilian Tayenthal founded N26 in 2013 and launched the initial product in early 2015. Today N26 has more than 7 million customers in 25 markets. The company employs more than 1,500 employees across 8 office locations: Berlin, Barcelona, Madrid, Milan, Paris, Vienna, New York and São Paulo. With a full European banking license, state-of-the-art technology and no branch network, N26 has redesigned banking for the 21st century and is available on Android, iOS and desktop. N26 has raised close to $950 million from the world's most established investors, including Insight Venture Partners, GIC, Tencent, Allianz X, Peter Thiel's Valar Ventures, Li Ka-Shing's Horizons Ventures, Earlybird Venture Capital, Greyhound Capital, Battery Ventures, in addition to members of the Zalando management board, and Redalpine Ventures. N26 currently operates in: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland and the U.S., where it operates via its wholly-owned subsidiary, N26 Inc., based in New York. Banking services in the U.S. are offered by N26 Inc. in partnership with Axos Bank®, Member FDIC. For more information about N26, please visit n26.com.

About Axos Bank
Axos Bank is a federally-chartered nationwide U.S. bank that provides consumer and business banking products through its low-cost distribution channels and affinity partners. With approximately $14.4 billion in assets, Axos Bank provides financing for single and multi-family residential properties, small, medium and large businesses in target sectors, and selected specialty finance receivables. Axos Bank is a wholly-owned subsidiary of Axos Financial, Inc., a financial services holding company listed on the NYSE under the symbol "AX" and a component of the Russell 2000® Index, the KBW Nasdaq Financial Technology Index and the S&P SmallCap 600^® Index. For more information about Axos Bank, please visit axosbank.com.

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SOURCE N26

FAQ

What is the N26 Perks rewards program expansion on March 9, 2021?

The N26 Perks rewards program was expanded to include cash back offers through a partnership with Dosh, enabling customers to earn cash back on various purchases automatically.

How does N26's cash back system work?

N26 customers are automatically enrolled in the Perks program and receive cash back without needing to activate offers, with rewards credited every 15 days.

What new features were added to N26 on March 9, 2021?

N26 introduced new savings features to help customers set recurring payments and round-up purchases to save more effectively.

What benefits does the N26 partnership with Dosh provide?

The partnership allows N26 customers to earn cash back on purchases at a range of retailers, providing financial relief especially relevant during the pandemic.

What is N26's approach to customer financial management?

N26 focuses on offering simple, automated solutions like the Perks program and personalized savings features to help customers manage their finances efficiently.