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German online bank N26 says to leave Brexit-bound Britain

Reuters - UK Focus
Updated ·1-min read

LONDON, Feb 11 (Reuters) - German online bank N26 said on Tuesday it will leave the UK market and close all accounts held there because it will no longer be able to use its European banking licence there after Brexit.

"With the UK having left the EU at the end of January, we will in due course no longer be able to operate in the UK with our European banking licence," N26 said in a statement to customers.

"Therefore we will be leaving the UK and closing all accounts in the coming months."

The accounts will close on April 15, it said.

The Berlin-based company said last year it was adding around 1,000 British customers a day. It currently has 5 million users across Europe. (Reporting by Andy Bruce; editing by Stephen Addison)