Shared Spaces - Trusted Beneficiary

A trusted beneficiary of a Shared Space can:

  • Transfer money from their own Spaces (including other Shared Spaces of which they are a participant) to a Shared Space.
  • Access and freely transfer the funds of a Shared Space at any time.
  • Leave a Shared Space at any time.

Transfers between a trusted beneficiary and a Shared Space do not need to be authenticated via Pin and Push notification. This means that beneficiaries can seamlessly drag-and-drop money via the N26 app and Web app similarity to how normal Space transactions work.

Why do I need to classify an owner or member as a trusted beneficiary?

European banking law regulates how bank transfers must be authorised. 

In this law strong customer authentication (SCA) is a requirement to make online payments more secure. 

One exception to this is the classification of a person in a Shared Space as a “trusted beneficiary” so that transfers to this person do not require SCA.

Learn more