German mobile bank N26 says it’s leaving the UK because of Brexit


Valentin Stalf, CEO of N26, at the bank’s office in Berlin, Germany.

Wolfgang Kumm | picture alliance | Getty Images

German online bank N26 has told customers it’s pulling out of the U.K. because it won’t have a license to operate there after Brexit.

The Berlin-based firm launched in Britain in October 2018, about six months before the country’s exit from the European Union was initially due to take place. At the time, N26 CEO Valentin Stalf told CNBC the move was a “no-brainer for us, independent of Brexit.”

“With the U.K. having left the EU at the end of January, we will in due course no longer be able to operate in the U.K. with our European banking licence,” the firm said in announcement…


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