The following translation is provided for the customer’s convenience only.

The contractual language depends

on your SignUp-Country. This language (“SignUp-Language”) is binding in all respects. Constructions, meanings
or interpretations in the SignUp-Language shall prevail in case there is any inconsistency between the English
(convenience version) and the SignUp-Language version of all legal documents.

Terms and Conditions of N26 Bank GmbH for “N26

Spaces”
(Version 1.5 Date 29.03.2022)

1. Object of the Business Relationship, Scope of Application and

Amendments to these Terms and Conditions
For the purpose of these Terms and Conditions as well as for all other Terms and Conditions referenced to
“Premium Member(s)”; “Premium Card”; “Premium Account” as well as “Premium Membership” shall have
the meaning as defined in Number 7.11 of the Terms and Conditions “N26 Current Account” of N26 Bank GmbH.

1.1 Object of the Business Relationship, applicability of the N26 Bank GmbH
Terms and Conditions
The object of the business relationship with N26 Bank GmbH (“N26”) are services in line with a N26 Space
between you and N26.

Provided that no other agreements were made, the General Terms and Conditions of the ‘’N26 current account’’,
according to which you opened up your “N26 Main Account”, at N26 as well as the Additional Terms for Usage of
the application of the mobile App named “N26-App” apply for the opening and usage of “N26 Spaces”.

In case an IBAN is added to the Space in accordance with Section 3 below, the following additional Terms and
Conditions shall apply accordingly: Terms & Conditions for Credit Transfers, Terms & Conditions for Payments by
Direct Debit under the SEPA Core Direct Debit Scheme, Terms & Conditions „N26 Mastercard“ from N26 Bank GmbH
for Private and Business Mastercard Debit Cards, Terms & Conditions eBanking, Special conditions for digital account
statements and Special terms and conditions for the use of function 3D Secure.

a) Which services do you get from N26 when opening a Space?

● The availability of the Space(s) feature and the number of Spaces you can open at the same time vary
depending on your N26 subscription.
● By opening a Space in the Mobile App or Web App you enter into a payment service agreement
(Zahlungsdiensterahmenvertrag) according to Section 675 f German Civil Code (Bürgerliches Gesetzbuch,
BGB).
● Each Space can be closed by you (and therefore the contract can be terminated) with a simple click. A
formal declaration of termination of the payment service agreement (Zahlungsdiensterahmenvertrag) is
not necessary.
Important: please note that the N26 Main Account will not be terminated by closing a Space.
● You can personalise your Space by choosing a name and a picture.
 ● You can authorise transfers between your N26 Main Account and a Space and between two Spaces by
‘drag and drop’.
● As for your N26 Main Account - N26 is not paying any interest for the balance on your Space.
● We will provide you with separate balance statements for each Space.
● You can use standing orders ("Rules") to specify that on a regular basis (daily, weekly, bi-weekly or
monthly) a certain amount of money to be determined by you is transferred from your N26 Main
Account to a Space or from one Space to another Space. In total, you can set up up to ten (10) Rules at
a time.
● As a Premium Member you will be able to assign an IBAN to your space and - within the framework of
Section 3 of these Terms and Conditions - enable the space for payment transactions.

b) Which services do you not get from N26 when opening a Space?
● Unless you assign an IBAN to your Space in accordance with Section 3 of these Terms and Conditions,
any other payment and banking functions are only available on your N26 Main Account, such as e.g.
transfer to an account of a third party, any payment functions which require an IBAN, overdraft for
Spaces, Mastercard and Maestrocard etc
● The permitted overdraft is currently only available on the N26 Main Account. Because each Space is a
separate bank account we only take into account the balance on your N26 Main Account when we
calculate your permitted overdraft amount as well the interest that has to be paid on the amount
utilised. Keep in mind that this means that you can go into overdraft and accrue interest fees at the
same time that there are positive funds in one or several other Spaces. (You can view the accrued
interest at any time via the account settings in your N26 App. At the end of every quarter, we send you
a corresponding invoice by email.)

1.2 Scope of Application and (Potential) Users Addressed, Communication line

● The general terms and conditions shall apply for the entire business relationship between the
customer and N26.
● The contractual partners in this contract are exclusively N26 Spaces customers and N26.
● The communication is exclusively effected by means of electronic communication (via N26-App or
email e.g.). In individual cases and depending on the kind of communication also written and/or
telephonic communication in alignment with the stipulation of these terms and conditions is possible.
● Please always use your registered Email address for submitting legally binding declarations to N26.
Only with using your registered Email address we can verify that the declaration has been given by you.

2. Costs
The Space(s) service is free of charge and reserved for Premium Members.

3. IBAN Functionality
3.1 Eligible Persons
Only Premium Members are eligible for assigning an IBAN to a space.

3.2 Assigning an IBAN to your Space

You can assign an IBAN to your Space by either enabling the function in the N26 Mobile App or by using the
N26 Web App. Each Premium Member is only entitled to add a maximum amount of 10 (ten) IBANs to their
Spaces for the entire lifetime of an N26 Account. For each Space only one IBAN can be assigned to. Shared
Spaces cannot be assigned an IBAN.

N26 reserves the right to refuse to enable this feature for certain customers at its sole equitable discretion.

3.3 Removing an IBAN, Closure of a Space

You cannot remove an IBAN from a Space without closing the Space (in accordance with Sec. 5 of these Terms
and Conditions). Removing the IBAN by closing your space will mean that the removed IBAN can no longer be
used. According to the regulation in Sec. 3.2 of these Terms and Conditions, your maximum number of possible
IBANs will be reduced accordingly.

3.4 Scope of the IBAN functionality

By adding an IBAN, your space will turn into a payment account and enable the space for payment transactions.
Currently, the IBAN functionality will be limited to the following:

● As recipient of a payment you will be able to receive payment transactions via SEPA-Direct-Debit and
SWIFT.
● As Payer you can authorize the recipient of a payment via direct debit authorization to fulfill a direct
debit.

The following functions will be integrated gradually for all Premium Members. N26 will inform every eligible
customer as soon as the respective functions are available. N26 Customers do not have a legal claim to enforce
the integration of new functionality; it is at the sole discretion of N26:

● As Payer you will be able to authorize SEPA credit transfers.

● As Payer you will be able to establish standing orders.

3.5 P-Accounts
Spaces cannot be used as P-Accounts. Only the N26 Main Account may be used as a P-Account.

4. Data Protection
N26 shall respect the applicable provisions for data protection. N26 is entitled to process and use the
customer’s personal data, obtained by N26 in the context of the business relationship with the customer, for
the performance of the contract. For detailed information we refer to our N26 privacy policy.

5. Duration and Termination of the Business Relationship

Each Space contract has an undefined duration. If you cancel your N26 Main Account, your Spaces will
automatically be cancelled.

5.1 The Customer’s Right of Termination

The Customer may at any time, without notice, terminate a Space. The termination will be declared in the
WebApp or Mobile App simply by closing the respective Space. The N26 Main Account will not be terminated.
Therefore a separate termination declaration is required, if you also want to cancel your N26 Main Account. In
this case section 18.1 of our General Business Conditions is applicable.

If you decide to close a Space with an active IBAN (as described in Sec. 3 of these Terms and Conditions), please
be aware that your IBAN will be deleted permanently and your maximum number of possible IBANs will be
reduced accordingly. Any incoming and / or outgoing payments to and from the respective IBAN will be
rejected / not executed by N26. The same applies after your free trial period ends, all incoming and outgoing
payments to and from the respective IBAN will be rejected / not executed by N26.

If you are a Premium Member and decide to terminate your Premium Membership (to switch back to our
standard offer or to another Premium Membership), please note that this may impact the number of Spaces
you can open up at the same time (see Section 1.1 a) and 2 above). Once your Premium Account closure
becomes effective (meaning once the term of your premium account expires after we received your
termination declaration), you will have access to the number of Spaces available in your new N26 membership
(the number of Spaces available in our offers is indicated on our website as well as in the terms and conditions
of our memberships). In case your new membership does not grant you access to Spaces or does grant you
access to a number of Spaces that is inferior to the number of Spaces you had access to with your Premium
Membership, the closure of the latter will have as an effect the closure of the number of Spaces that are not
available in your new offer (we will close the last Spaces you opened and keep open the first Spaces you
opened). The balance on the closed Spaces will be transferred back to your N26 Main Account.

5.2 Termination right of N26

N26 has the termination rights as set out in Section 19 of the General Business Conditions of N26.

6. Garnishments
In case N26 receives a garnishment on your account, your active Spaces will be seized, meaning they will be in a
‘read-only’ mode so you cannot transfer your money back to the N26 Main Account. You will not be able to
open up additional Spaces or make changes to your existing Spaces. If the balance on your N26 Main Account is
not sufficient to satisfy your creditor’s claims, N26 will transfer the amounts on your Spaces back to your N26
Main Account to ensure the claims are met.

7. Applicable law and partial ineffectiveness

7.1 Applicable Law

German law shall apply to the business relationship between the Customer and N26.

7.2 Partial Ineffectiveness

Should any one of the present provisions of these conditions be ineffective, annulled, or declared invalid or null
and void, the legal validity of the other conditions shall remain unaffected.
8. Revocation Instruction

Revocation Policy Instruction

Section 1
Right of Revocation

You may revoke your contract declaration within 14 days without statement of reasons by means of a
clear declaration to that effect. This term starts upon the conclusion of the contract and after you have
received the contractual provisions, including the General Terms and Conditions, and all the information
listed below in Section 2 on a durable data medium (e.g., by mail, fax, or by e-mail). In order to comply
with the revocation deadline, the timely dispatch of the notice of revocation is sufficient, provided
that this notice is issued on a durable data medium.

The revocation notice must be addressed to:

N26 Bank GmbH

Rungestr. 22, 3. Hinterhof
10179 Berlin
Germany

Email: terms@n26.com

Section 2
Information to Initiate the Revocation Term

The Information in the meaning of Section 1 para. 2 encompasses the following:

General Information

1. the existence or absence of a right of revocation, as well as the conditions, information on how to
exercise it, in particular the name and address of the person to whom the notice of revocation is to
be addressed, and the legal consequences of the revocation, including information on the amount
that the consumer must pay in the event of a revocation for the service provided to the extent that
the consumer is liable to pay compensation for lost value (underlying provision: Section 357a of the
Civil Code);

2. the Member States of the European Union whose laws govern the payment service providers for
purposes of their relations with the consumer before the conclusion of the contract;
 3. details regarding payment and fulfillment;

4. any costs that may have been incurred, as well as an indication of possible taxes or costs not paid
through or charged by the payment service provider;

5. any specific additional telecommunication usage costs for which the consumer is liable, if such
additional costs are charged by the payment service provider;

Information on the Provision of Payment Services:

6. About the payment service provider:

a) the name and the address of its head office at which the payment service provider can
be served legal notices, as well as any other addresses, including e-mail addresses,
that are relevant for communication with the payment service provider;

b) the name and address for the service of legal notices of its agent or branch in the
Member State in which the payment service is offered;

c) the supervisory authorities responsible for the payment service provider and the
register kept by the Bundesanstalt für Finanzdienstleistungsaufsicht (federal financial
supervisory authority) or any other relevant public register in which the payment
service provider is registered as authorized, as well as its registration number or an
equivalent identifier used in that register;

7. About the use of the payment service:

a) a description of the essential features of the respective payment service;

b) information or customer identifiers required for the proper initiation or execution of a

payment order;

c) the manner in which consent is given for the initiation or execution of a payment
order or for the revocation thereof (underlying provisions: Sections 675j and 675p of
the Civil Code);

d) the time as of which a payment order is deemed to have been received (underlying
provision: Section 675n para. 1 of the Civil Code);

e) a point in time specified by the payment service provider close to the end of a
business day, after which a payment order received from the consumer is deemed to
have been received on the following business day (underlying provision: Section 675n
para. 1 clause 3 of the Civil Code);
 f) the maximum time within which the payment services are be executed;

g) a reference to the possibility of agreeing on caps to the amounts for which a payment
instrument (such as a payment card, for instance) may be used (underlying provision:
Section 675k para. 1 of the Civil Code);

8. About charges, interest, and exchange rates:

a) all charges due from the consumer to the payment service provider, including charges
based on the manner and frequency in which the required information is to be
provided;

b) a breakdown of these charges;

c) interest rates and exchange rates applied, or if reference rates are used, the method
for calculating the actual interest rates, as well as the relevant reference date and
index or any other basis for determining the reference interest or exchange rates;

d) the immediate effectiveness of changes to the reference interest or exchange rates

based on the agreed reference interest or exchange rates without prior notification of
the consumer (underlying provision: Section 675g para. 3 of the Civil Code);

9. About communications:

a) the means of communication, the use of which for the transmission of information
and reporting requirements is agreed, including the technical requirements for the
consumer's equipment and software;

b) information on the manner and frequency with which the information is to be

provided or made available by the payment service provider before and during the
contractual relationship, before the execution of payment orders commences or in
the case of each individual payment order;

c) the language or languages in which the contract is to be concluded and in which

communications shall take place for the duration of the contractual relationship;

d) a reference to the consumer's right to request, at any time during the term of the
contract, that the contractual terms and conditions as well as the pre-contractual
information on the provision of payment services referred to in this revocation policy
be sent to them by mail or on another durable data medium;

10. About protective and remedial measures:

a) a specification of the manner in which the consumer is to safely retain a payment

instrument and to fulfill their obligation toward the payment service provider - or
toward an entity designated by it - to report the loss, theft, misuse, or other
unauthorized use of a payment instrument without undue delay after having become
 aware of such an event (underlying provision: Section 675l para. 1 clause 2 of the Civil
Code);

b) a description of the secure procedure through which the payment service provider will
inform the consumer in the event of suspected or actual fraud or in the event of
security risks;

c) the conditions under which the payment service provider reserves the right to block a
payment instrument provided for by the Civil Code (underlying provision: Section 675k
para. 2 of the Civil Code);

d) information about the consumer's liability in the event of loss, theft, or any form of
misuse of the payment instrument, including information on the maximum liability
(underlying provision: Section 675v of the Civil Code);

e) information on the payment service provider's liability in the event of unauthorized

payment transactions (underlying provision: Section 675u of the Civil Code);

f) information on the manner and the term within which the consumer must notify the
payment service provider of unauthorized or faulty payment orders or transactions
(underlying provision: Section 676b of the Civil Code);

g) information about the payment service provider's liability in the event of unexecuted
or of faulty or delayed initiation or execution of payment orders, as well as
information about the payment service provider's obliga­tion to investigate such
non-executed or faultily executed payment order upon request (underlying provision:
Section 675y of the Civil Code);

h) the terms for the consumer's right to a refund in the event of an authorized payment
transaction initiated by or through the payee (such as SEPA direct debits) (underlying
provision: Section 675x of the Civil Code)

11. About amendments to the terms and upon the termination of the payment service framework
contract:

a) the duration of the payment service framework contract

b) an indication of the consumer's right to terminate the contract;

c) if applicable, a reference to the following clauses relevant to terminations:

aa) the agreed period of notice for the consumer's right to terminate the contract,
which may not exceed one month (underlying provision: Section 675h para. 1 of
the Civil Code),

bb) the agreed right of termination by the payment service provider with a period of
notice of at least two months, subject to the assumption that the contract is
 concluded for an indefinite period of time (underlying provision: Section 675h
para. 2 of the Civil Code),

cc) the consumer's right to terminate the contract without prior notice before a
change to the contract proposed by the payment service provider takes effect, if
the contract should have a clause under which the consumer's consent to the
change would be deemed to have been given if not expressly rejected, provided
that the payment service provi­der had informed the consumer of the
consequences of refraining from objecting to the proposed change to the
contract and of their right to terminate the contract (underlying provision:
Section 675g para. 2 of the Civil Code);

12. The contractual clauses about the law applicable to the payment service framework contract and
about the competent court;

13. A reference to the complaint procedures available to consumers in the event of alleged breaches
by the payment service provider of its obligations (underlying provisions: Sections 60 through 62 of
the Payment Services Supervision Act) and to extra-judicial redress procedures available to
consumers (underlying provision: Section 14 of the Injunctions Act).

Section 3
Consequences of Revocation

In the event of an effective revocation, the services received by both parties shall be reimbursed.

If you should overdraw your account without having been granted overdraft facilities or if you should
exceed the overdraft facilities granted, we shall not claim any costs or interest from you beyond the
demand that you repay the overdrawn or excessively overdrawn amount, if we have not properly informed
you about the terms and consequences of an overdraft in the absence of - or in excess of - granted
overdraft facilities (such as the applicable debit interest rate and costs).

You are required to pay compensation for the value of services provided up to the time of revocation, if
you were made aware of this legal consequence before submitting your contract declaration and expressly
agreed that performance of services may commence before the end of the revocation period. If there is a
requirement to pay compensation for lost value, this may imply that you are still required to fulfill the
contractual payment obligations for the period up to the revocation. Your right of revocation expires
prematurely if the contract was completely performed by both parties at your express request before
you exercised your right of revocation. Payments must be refunded within 30 days. This term begins for
you with the dispatch of your notice of revocation; for us it begins with the receipt thereof.

Special Instructions
Upon revocation of this contract, you are also released from any contract related to this contract
(zusammenhängender Vertrag), if the related contract pertains to a service provided by us or by a third party
on the basis of an agreement between us and such third party.

End of Revocation Policy Instruction