Challenger bank is reportedly launching its service in the UK

Mobile-only bank N26 is launching in the new market. Source: n26.com

German fintech startup N26 announced that it is launching its service in the U.K. This new market is highly competitive with such players as Revolut, Monzo, Starling and many others already popular among customers.

As TechCrunch reported today, N26 is going to roll out its product in multiple phases. Some users will be able to open an account right away. Then the startup will go through its waiting list — 50,000 people already left their email addresses to express interest. After that, anybody will be able to download the app and sign up. N26 expects a full public launch in just a few weeks.

British customers will get Basic, Black and Metal plans. Moreover, their deposits would be guaranteed by the European deposit guarantee scheme, as N26 has a banking license.

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