What are IBANs for Spaces subaccounts?

With our IBANs for Spaces feature, your individual Spaces have become even more useful. Spaces on their own are a great way to help you save money for different savings goals. Once you assign an IBAN to a Space, it then becomes able to receive incoming transfers directly into the Space, and you can use a Space with an assigned IBAN to pay your outgoing direct debits.

IBANs for Spaces allows customers with a premium membership subscription (N26 Smart, You or Metal) who opened their N26 account in Germany and who have a ‘DE’ IBAN to assign a unique IBAN to a Space; making it eligible to receive and send certain transfers. Below you can find an overview of the features available with assigning an IBAN to your Space or Spaces:

• Add an IBAN to your Spaces: You can assign a unique IBAN to an existing or new Space. Shared Spaces are unable to have an IBAN assigned.
• Multiple Spaces with IBANs: You can assign up to 10 Spaces their own unique IBAN (10 in total, not at a time), allowing for even more control over your finances. Please note, once 3 Spaces have been assigned to an IBAN, a 24-hour time limit will activate until a Space can be assigned a new unique IBAN.
• Receive bank transfers: You can receive transfers directly into a Space with an assigned IBAN.
• Send bank transfers: You can make transfers directly from a Space with an assigned IBAN.
• Pay outgoing ‘Direct Debits’: You can use your unique Space IBAN to pay outgoing direct debits, directly from your Space. If you don’t have enough funds to cover the amount of the direct debit, the transfer will get rejected and a fee charged to your main account.
• View your Spaces IBAN Details: You can view each Space’s IBAN, which you can then use to receive credit transfers and pay for your direct debits. To do this simply login to the mobile or web app, go to your ‘Spaces’ section and select the Space you wish to view the IBAN details of. Go into the ‘Space Settings’ and you can see the IBAN and BIC at the top of the screen.

You can add an IBAN to your Spaces by completing the following steps:

1. Login to the N26 mobile-app
2. Tap 'Spaces' to go to the Space Menu
3. Select the Space you wish to assign a unique IBAN
4. Tap the 'cog icon' at the top right-hand side of the screen to go into 'Space Settings'
5. Navigate through the app flow:
   1. Select 'Set-up IBAN' » 
   2. Read the info and tap 'Add IBAN to ...' » 
   3. Accept the T&C's » 
   4. Enter your confirmation PIN » 
   5. Tap 'Got it' on the final screen.

In order to remove an IBAN from the Space you will need to delete the Space itself and move any remaining funds into either your main account or another Space. To delete a Space with an IBAN, please do the following:

1. Login to the N26 mobile-app
2. Tap on 'Spaces'
3. Select the Space with an IBAN you wish to delete (remember this will completely delete the Space and any money must be moved)
4. Go into the 'Space Settings' (click on the top right ‘cog icon’)
5. Under 'Manage' you will the 'Empty & delete space' option
6. Tap this and confirm you wish to delete the Space
7. Select your main account or another Space to move the remaining balance too
8. Finally tap 'Delete' on the screen to confirm.

You can send outgoing SEPA transfers from your Spaces that have an IBAN assigned. To do this, please follow the below steps:

1. Go into the Space you wish to send a transfer from and tap on “Send money”
2. Select “Bank transfer”
3. Select the contact you wish to send money too
4. Confirm the amount you wish to send and enter a reference (optional)
5. Enter your confirmation PIN and Confirm to complete the transfer

You can receive incoming credit transfers directly into a Space with an assigned IBAN. Please note all transfers sent to you should always be in the name of the account holder.