Digital bank N26 is pulling out of Britain and shutting hundreds of thousands of customers" bank accounts. The German-based lender blamed Brexit and red tape for its decision to shut up shop, although analysts suggested other factors were also likely to have played a large part. It will shut down on April 15 and has asked its more than 200,000 British customers to move their cash to another provider. Until then, its cards and accounts will operate as normal. Thomas Grosse, of N26, said: “While we fully respect the decision that has been taken, it means that N26 will in due course be unable to serve our customers in the UK and will have to leave the market.” N26 said it needs a British banking licence to keep operating after the UK transition period ends in December and has not got one, relying instead on so-called “passporting” rules which allow financial firms in the European Union to do business...