Update on N26 Invest (General information)

*Update effective 17.07.19

We’ve decided to end our partnership with Moneyfarm (formerly Vaamo), the company that provides our N26 Invest product. From 17.09.2019, N26 Invest will no longer be available in the N26 app. We made this decision as we feel the product no longer serves the needs of the majority of our current customers.

We’ve sent you – N26 Invest customers – an email update. This article contains detailed information on the three different options available to you:

1. Close and liquidate (cash out) your N26 Invest portfolio 

Until 16.09.2019 you can liquidate and cash out your N26 Invest portfolio via the N26 app. Full instructions on this option can be found by clicking this link.

2. Reinvest your N26 Invest portfolio capital to Moneyfarm (formerly Vaamo)

You can sign-up with Moneyfarm and reinvest your N26 Invest portfolio with Moneyfarm.

Note: In May April 2019 European digital wealth manager Moneyfarm (an online investment company) acquired Vaamo. Further information on Moneyfarm can be found here (new tab).

If you choose this option you’ll have your N26 Invest plan closed, and the portfolio capital reinvested into a new Moneyfarm investment plan.

Step by step instructions can be found by clicking this link.

3. Continue with your existing portfolio via FIL Fondsbank GmbH (FFB)   

FFB is the bank that holds your Invest depot. If by 17.09.19 you’ve not chosen option 1 or 2 as described above, FFB will contact you by post providing you with a letter that will contain your login data that can be used to access your existing investment portfolio via the FFB website.

Note: If you have changed your address since you’ve opened your invest account, please inform FFB so that they send the documents to the correct address. Accessing your investment portfolio through FFB's website will be possible as soon as you receive your login data from FFB. Full information about this option can be found by clicking this link.

Whilst we’re ending our Partnership with Moneyfarm (formerly Vaamo) and ending our business relationship with you in regards to the N26 Invest product, this will have no bearing on any other aspect of your N26 account or any premium membership plans that you may have with us.


Why are you cancelling Invest? 

Since launching N26 Invest in 2016, we’ve gone on to develop more products & services that reflect our growing customer base and the increasingly global nature of our bank. We are committed to bringing you new products that will make your financial lives easier and tailored for your needs in the future.

What if I want to keep my Invest plan?

The good news is you can continue your investment portfolio with FIL Fondsbank. The email you received from us summarises the information, and you can see further details in our Support Center. Alternatively if you take no action, FIL Fondsbank GmbH (FFB) will contact you by letter before 17.09.2019 providing you with login data to use so you can access your existing portfolio via the FFB website as soon as you receive your login data to the FFB website from FFB.

What is Moneyfarm / What happened to Vaamo?

In April this year, European digital wealth manager Moneyfarm acquired Vaamo. Further information about Moneyfarm can be found on their website (new tab).

What right do you have to cancel my Invest plan?

Section 11.3. of our Terms and Conditions for N26 Invest details the right of termination from our side. Sorry if this has come as disappointing news to you. Don’t forget you still have the option to reinvest your N26 Invest portfolio with Moneyfarm (formerly Vaamo) as explained in our email and dedicated article on the subject. You also have the option to continue your current N26 Invest plan via FIL Fondsbank GmbH.

Will this affect my N26 account?

Not at all. Closure of your N26 Invest portfolio will not affect your N26 account, premium membership or other products you may hold with us.

What happens to the taxes that I have to pay now if I choose to close my invest account?

Any capital gains tax you would be required to pay will be withheld automatically by FFB  unless you have provided an exemption order for capital gains (Freistellungsauftrag). Any remaining cash would then be transferred to the reference account (your N26 bank account).   

In order to settle tax debts you must explicitly instruct FFB to sell units within the investment funds. If you close N26 Invest via the N26 app all investment funds will be sold automatically and any capital gains tax withheld by FFB.

How will I be able to get a hold of my statements for next year?

After closing an N26 Invest portfolio, FIL Fondsbank GmbH (FFB) will send you tax reports by post if there was a tax exemption in place. In the event that you move after closure of your N26 Invest portfolio, please contact FFB to inform them of your new address. 

Contact details for FFB:

Monday to Friday from 8am to 6pm

Telephone: +49 (0) 69 770 60 - 200

Fax: +49 (0) 69 770 60 - 555