N26 updates its mobile app with money request feature

Users can discreetly request money from friends with a few clicks directly in the app. In order to request money, users need to define the amount, the reference text and a contact who also uses N26. The contact receives a push notification with the request for the owed sum of money, and can confirm the transfer instantly with a transaction PIN and only a few clicks.

This feature expands N26’s peer-to-peer-payment product line. The new feature works like a reverse MoneyBeam, therefore is real-time and free. Users can try it right away and request up to EUR 1.000. Moreover, the feature is available to N26 users in all countries. N26 users have sent more than 200.000 MoneyBeams since the product launched, primarily around lunchtime and right after work. In total, more than EUR 13 million in transactions have been sent via MoneyBeam.

N26 is a bank designed exclusively for the smartphone. The user-friendly design, automated and personalized statistics, real-time banking, CASH26 (withdrawing money at over 7.000 retail partners) and MoneyBeam (sending money via text or email in a few seconds) have attracted more than 200.000 customers to the product in the first 20 months its inception.