N26 : Full Review, Testing, and Presentation (2024)

What is N26 Bank?

The German N26 bank is considered to be the first mobile bank in Europe. Since its creation in 2013, N26 Bank has managed to acquire more than 2.5 million users.

At present, N26 Bank offers its products in 24 countries and is constantly expanding.

N26 Bank's most popular product is the free N26 bank account, which can be opened in 8 minutes from anywhere and managed through the N26 banking app.

Who can apply for the N26 card?

Before continuing to read my article on the N26, make sure you can apply for the N26 card.

Currently, you can order the standard N26 card if you are a resident of the following 24 countries:

Germany, Austria, Ireland, France, Spain, Italy, Netherlands, Belgium, Portugal, Finland, Latvia, Lithuania, Luxembourg, Slovenia, Estonia, Greece, Slovakia, United Kingdom, Poland, Sweden, Denmark, Norway, Liechtenstein and Iceland.

For more details, see the N26 website.

• The N26 You card can be ordered in the above countries, with the exception of Slovenia and Greece.
• The N26 Metal card is currently only available to users ofGermany, Austria, Italy, Spain, France and the United Kingdom.

If you live in one of the supported countries, the N26 card could be a great option for you.

Who is N26 for?

More than one online review about the N26 bank account attests that it is a superb option for individuals. There are no hidden fees for transactions, maintenance, or anything else. You also get an unlimited number of free withdrawals at AllPoint ATMs and two free withdrawals in all other networks.

European users will have to do without free withdrawals or a card if they choose the free plan. Monthly fees apply to all other plans. So you need to decide if the benefits outweigh the cost. However, accounts can be shared by up to 10 people. So if your family or friends want to participate, the price may be much lower.

Because of the 10-sub-account limit, Business plans are only really suitable for small businesses or startups. While you get detailed expense reports, you don't have the same controls as other higher-level employee cards, as numerous online reviews on N26 point out. But the annual cost is lower than most other options, and cross-border capabilities are great for remote work.

How do I open a bank account with N26?

You can open a bank account with N26 Bank in 10 minutes. To get an N26 card, you must be at least 18 years of age and a resident of one of the 24 supported countries.

1. Click here to open an account via the N26 website.
2. Enter the required personal information and contact information. You will also need to enter information about your tax residency and agree to the terms and conditions of the N26.
3. Click on “open a bank account” and verify your email address.
4. As the next step, download the N26 banking app for your Android or IOS device.
5. Once you have downloaded the application, you will need to go through the registration process. You will need to verify your phone number as well as your identity through a quick video call. I recommend that you have a stable internet connection when you sign up for the N26 account as this will speed up the verification process.
6. As soon as you have completed the identification process, you can order your Mastercard N26 at home. Expect delivery times of 4 to 12 days, depending on the country of your residence.
7. When you receive your card, you'll need to activate it in your N26 app and set up your PIN before making any payments.

Now that you've set up your N26 bank account, let's take a look at the options the N26 has to offer.

Offers

1. N26 Mastercard

• €0 monthly fees‍
• free ATM withdrawals in the eurozone
• 1.7% fees on ATM withdrawals in currencies other than the euro
• free card payments worldwide
• Insurance package

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2. N26 You

• €9.90 from monthly fees
• free ATM withdrawals in the eurozone
• free ATM withdrawals in currencies other than the euro
• free card payments worldwide
• Insurance package + Exclusive discounts

The N26 You card is the premium card that comes with a monthly fee of €9.90, charged at the beginning of each month (this card was also called N26 Black). If you decide to order the N26 You card, you need to subscribe to the annual plan.

The first month's fee will be deducted immediately upon registration, even if you have to wait a few days to receive the card.

The N26 You card offers much more value to users who withdraw more money abroad. If, like me, you live abroad for most of the year, you may need to withdraw more money in foreign currency from home. This is particularly the case in countries in Asia and South America, where cash remains the preferred payment method.

Compared to the free N26 card, which charges a 1.7% fee on ATM withdrawals in foreign currencies, the N26 You does not charge any fees on ATM withdrawals worldwide.

This means that if you withdraw more than €582 (or the equivalent in foreign currency) with the N26 You card, you save money compared to withdrawals made with the free N26 Mastercard.

The monthly fee of €9.90 for the N26 You card corresponds to the 1.7% foreign currency ATM withdrawal fees that are charged for a €582 withdrawal with the free N26 card.

Since the N26 You does not charge foreign currency ATM withdrawals, you save money when you withdraw more than the amount mentioned.

How do I save money with the N26 You?

I have spent the last five months in Thailand, where I withdraw an average of €1,440 per month. If I used the standard N26 card, the 1.7% fee on withdrawals at foreign ATMs would amount to €24.48 per month.

If I withdraw money with the N26 You card, I only pay the monthly fee of €9.90. I save an average of €14.58 per month on bank fees. During the five months that I spent in Thailand, I saved €72.90 with the N26 You card.

This is the main reason why I use the N26 You card. Currently, I am not aware of a debit card that would cost me less. Read my article on the N26 Youici map.

Can you count on N26 You travel insurance?

In addition to the absence of foreign ATM withdrawal fees, the N26 You card also offers comprehensive insurance. Rather, it is an additional bonus. It is not meant to replace good travel insurance, nor should it be a hindrance to buying.

If you are looking for insurance that will cover your medical expenses abroad, I suggest that you take out travel insurance tailored to long-term travelers from Safetywing and Worldnomads.

Let me explain why you shouldn't rely on N26 You travel insurance.

• The insurance that accompanies the N26 You card is only valid for trips that do not exceed 90 days.
• It is only activated when you pay for expenses such as flights and accommodation with the N26 You card. If you use other payment methods, the insurance won't cover anything.
• If you travel for more than 90 days, you will lose insurance coverage.

N26 You insurance offers good coverage for medical expenses or costs related to losing your luggage. If you have to cancel or cancel your trip, you'll be covered up to €7,500, but you'll have to pay a 10-20% deductible yourself.

If your phone is stolen, N26 insurance covers the cost of replacing it only if you purchased the phone with the N26 You card. The maximum coverage is €300 and you will have to pay a deductible of €50. To learn more about insurance policies, read my article on the N26 You card.

The N26 You card is profitable if you withdraw a significant amount of money abroad. I don't recommend ordering the N26 card as a replacement for your travel insurance if you plan to travel long term.

You can order your N26 You card in the section Upgrade of the N26 application.

3. N26 Metal

• €16.90 from monthly fees‍
• free ATM withdrawals in the eurozone
• free ATM withdrawals in currencies other than the euro
• free card payments worldwide

It's important to mention that the N26 Metal card is currently only available to users in Germany, Austria, Italy, Spain, France, and the United Kingdom.

The N26 Metal is N26's luxury card, intended for businessmen who want to show their status with the N26 Metal steel card. Aside from that, you won't find much value that should convince you to go for the N26 Metal.

The steel N26 card is significantly heavier than the plastic N26 and N26 Black cards.

It comes with the same benefits as the N26 Black premium card.

Additionally, you'll receive some discounts when you buy products from N26 partners:

• Coworking spaces WeWork - 1 day/month free
• Outfittery - 30
• Tannico - 10% discount
• Home24 - 10% discount
• Drivy Car Rental - €25 discount for new customers
• Lanieri Suits - 25% discount
• Hotels.com - 10% discount
• IHG hosting - 20% - 30% discount for early risers
• Babbel language app - 3 months free

4. N26 Maestro

• €0 of monthly fees‍
• €2 for ATM withdrawals in the eurozone
• €2 + 1.7% for ATM withdrawals in currencies other than the euro.
• free card payments worldwide

In addition to these fees, there are special fees for card replacement, express deliveries, and other services that are rarely used.

N26 Bank does not offer joint accounts. You also can't combine multiple N26 cards, which means you can't use the N26 card, N26 Black, and N26 Metal at the same time.

For a long time, the Maestro N26 card was the only replacement card you could use. This is always the case if you have the free N26 bank account. The Maestro card does not have any particular advantages. In addition to the 1.7% fee for cash withdrawals at ATMs, you pay €2 for each cash withdrawal.

However, there is a way to get two N26 cards. As an N26 You user, you can get multiple N26 cards in different colors. Note that each additional N26 card costs approximately €14 to produce and ship to your home.

5. N26 Standard Mastercard

The N26 Basic Mastercard is the most popular debit card offered by N26 Bank. It is aimed at all users who appreciate the absence of subscription fees, fees for international transactions as well as the use of the intuitive N26 banking application.

One of the advantages of the Mastercard N26 card is the free unlimited withdrawals at ATMs in the EUR zone, with a few exceptions in Germany. If you use the card in the EUR zone, you hardly pay any fees.

The Mastercard N26 is also suitable for travelers who do not withdraw large amounts in foreign currencies. If you're traveling to a country where you can pay your bills with the card instead of cash, the free N26 card will be more than enough as there are no fees on card payments worldwide.

All the benefits you get with the standard N26 card

• No monthly fees
• Unlimited free withdrawals at ATMs in the Europ zone (3 to 5 withdrawals at ATMs in Germany)
• International payments with the best exchange rates
• Only 1.7% of fees on withdrawals at ATMs other than those in euros.
• A free N26 app that will help you manage your finances

With the basic N26 card, you get all the benefits of the N26 app.

10. Mobile app

Let's look at why N26 Bank is one of the best options for long-term travelers and people who like to manage their finances from their smartphones.

The N26 mobile application can be accessed from any location with an Internet connection. It is equipped with numerous functions and features that will make managing your finances a seamless experience.

Here are some of the key features that you can use with the N26 app:

• Send money quickly to any other N26 user with N26 Moneybeam
• View expenses and income sorted by categories in your N26 statistics
• Exchange currencies at the best rates on the market and low TransferWise fees.
• Stay on top of your spending with instant notifications.
• Set up your PIN, lock, or order your N26 card
• Set limits for ATM withdrawals and daily spending
• Use the spaces to open sub-accounts, dedicated to parallel savings.
• Additional financial products such as overdraft, invest26, and cash26 allow you to increase your balance, invest in funds, or withdraw money from N26 partners - these functions are only available in Germany and Austria.

Fresh

When choosing the best bank account, you should inform yourself about its fees. You'd be surprised how many travelers aren't aware of the fees they have to pay for ATM withdrawals or card payments.

By being aware of the expenses associated with using your debit card, you can save hundreds of euros every year. Here are the most significant fees you should be aware of when using one of the N26 cards.

Customer Support

You can only contact N26 via chat, email, and phone, but it's pretty slow.

Once, it took us 50 minutes to reach customer service via live chat. By email, it also took several days to get a response.

The phone is only available through live chat, where you need to ask to be called back.

• Telephone number: 1-888-626-0626
• Choose the chat in the application
• Email: support-us@n26.com

Confidentiality and Security

The research we conducted as part of this review of N26 Bank did not reveal any issues related to its security or privacy policies. The bank only collects and uses personal information for the purpose of providing its services, promoting new services, and complying with regulatory requirements. Information sharing is also limited to these aspects or as required by law.

For security reasons, the platform is encrypted using SSL certificates. As a user, you can also set up two-factor authentication to protect your account. Locking lost or stolen cards is very easy. N26 has not experienced any significant security incidents or data breaches so far. All deposits up to €100,000 are insured.

Alternatives to N26

In preparing our N26 bank review, we found a few worthy competitors that you might want to consider.

1. Revolut.

Revolut is a digital banking and fintech company that offers a range of financial services through its app, including bank accounts, debit cards, credit cards, currency exchanges, and peer-to-peer payments. It is headquartered in London, England, and was founded in 2015.

One thing that sets Revolut apart from traditional banks is that it's completely digital and can be accessed entirely via its app. That means customers can open an account, manage money, and transact without ever going to a physical bank branch.

Revolut also offers a range of features to facilitate money management and international payments. For example, it offers real-time exchange rates and free international money transfers, as well as the ability to hold and exchange multiple currencies on one account. Revolut also offers budgeting tools and expense notifications to help customers keep track of expenses and stay in control of their finances.

Overall, Revolut aims to make banking and financial services more convenient and accessible for its customers, while offering a range of features that can help them save money and manage their finances more effectively.

TRY REVOLUT TODAY

2. Chime.

Chime is similar to N26 in that it offers a modern service, focused on mobile banking. But Chime is only available in the US. A basic spending account with a debit card is free, and the fees are minimal. You can also get a secured credit card as part of their Credit Builder account, making them one of the best credit repair companies.

3. Wise.

Transferwise aims to provide cheap international transfers with no exchange fees and exceptional exchange rates. Transferwise is available in a lot more countries than N26.

While it primarily acts as a transaction service for personal account holders, it also functions as a fully-fledged bank account with debit cards and a business account option.

How do you add money to your N26 account?

To add money to your N26 account, you'll have lots of options¹:

• Direct deposit
• Bank transfer
• ACH transfer
• Debit card refill
• Built-in MoneyBeam function
• Third-party treatments

Here are a few more details about each method:

1. Direct deposit

Option: Go to “My Account” and provide the sender with your ABA routing number and your N26 account number.

If you prefer, you can also fill out the form from your N26 mobile (under “Actions”, “Add Money” and “Direct Deposit”); or, finally, you can request this form from N26 Support.

Bank transfer:

You can do this from the N26 app. Just go to “Add Money” and click on “External Bank Transfer.” Choose the bank account you're going to send the money from, and confirm. It is as simple as that.

2. ACH transfer

If you prefer to complete the transaction from your bank and not from N26, simply log in to your online banking and follow the normal procedure.

This varies from bank to bank, but in general it should be very different from this one: choose the “external transfer” option (or similar) and add the N26 checking account as the recipient - you'll need routing and account numbers.

It is normal for your bank to make a small test deposit, which you should check with them.

In general, this may take a few days.

3. By card

You can also top up with your debit card. To do so, simply choose “add money” and then choose one of your preferences: debit card, Apple Pay, or Google Pay. The money will immediately arrive in the account with either option. There's no charge when you top up with N26 for the first time, but count on a 2.6% charge the next time you use the card. Additionally, each recharge must be completed within the following limits: $20 to $150 per transfer, and $600 per calendar month.

4. Third-party treatments

Another way to do this is to use other providers. You can contact them directly and set up a transfer to your N26 account details.

Here are the providers that will allow you to do this:

• Cash app,
• PayPal,
• Venmo,
• Zelle,
• Ingo Money,
• Apple Cash

FAQs

Is the N26 a real bank?

N26 is a genuine German mobile bank with a banking license. With the N26 bank account, you can access and manage your finances from the N26 banking app on your smartphone. N26 Bank offers bank accounts and debit cards in 24 European countries, including Ireland and the United Kingdom.

Can I use the N26 abroad?

The N26 debit card is one of the best cards you can use abroad. You can withdraw money free of charge at almost any ATM in the eurozone. There are no foreign transaction fees when using the card abroad. If you opt for the N26 Black card, you can benefit from free withdrawals at vending machines around the world.

Final Verdict

Based on my experience, I have not found a better card that can be used in countries whose main currency is the euro.

The card is accepted everywhere and you can pay or withdraw money for free.

When it comes to travel, the map is still very good.

You can use the card to book air tickets or accommodation without any problems. Often, you need to approve your payment within the app, which I think is a good security measure.

However, be aware that this is not a credit card. You can only use the balance that you have on your account. Some car rental companies might not accept it, although so far I have not had any problems when renting a car in the United States or Canada.

When planning to pay abroad, I highly recommend that you carry another spare card with you. When I wanted to buy tickets for public transport in the United States (Boston and New York), the N26 card was often refused.

I also happened to not be able to withdraw money with the N26 card because the local ATM could not read the chip. This happens often in Asian countries and has more to do with the vending machine than with the card itself. In 95% of cases, the N26 card is accepted, but I recommend that you always have a spare card with you.

The cards Revolut or Wise are good alternatives if you are planning to travel long term.