Score
9.8
Key Features
  • Free withdrawals anywhere in Euros
  • Mastercard SecureCode, fingerprint login & card-lock
Score
9.8

N26 Review

Introduction

N26’s mobile app puts the control in your hands with real-time banking: categorize your spending, send money to friends, save and budget your money, enable/disable foreign payments, transfer money in 19 currencies, set payment limits, lock your card and more – all from the comfort of your phone.

N26, founded in 2013 in Berlin, is Europe’s first mobile bank. Its founders shared a vision of building a bank people would actually love using, fitting seamlessly into their mobile lifestyle. In 2015, N26 officially launched its online banking app, offering more transparency, flexibility, and control for the customer, and eliminating the interference and physical boundaries too-often characterized by a traditional bank.

Opening an account with N26 is easy and quick – all you need is proof of ID, an email address and a mailing address (to receive your Mastercard).

To date, over 2.5 million customers from 24 different European countries use N26, with a US launch planned for 2019.

Debit Card
N26 debit card
Languages
  • EN
  • FR
  • DE
  • IT
  • ES
Plans
  • Free Account
  • Plans from €9.90/m
TrustPilot

Banking Features

N26 Spaces

Spaces

Create sub-accounts to separate your money for different budgeting goals (e.g. savings, mortgage payments, holidays etc.). You can add, remove or move money between your spaces. Spaces are great for saving as the money can’t be used for spending.

N26 MoneyBeam

MoneyBeam

With MoneyBeam, users can send money to contacts in their phone’s contact list without the need for bank details. N26 users will receive the money instantly; others get a link with which they can collect transfer within 2 banking days.

N26 In-app Control

In-App Card Control

Enable foreign payments, activate paying online, set limits for withdrawals and payments.

N26 Balance Tracking

Balance Tracking

Look through all of your transactions to see where and when you’ve spent your money.

N26 Transaction tagging

Transaction Tagging

#weekend, #friends, #gift — you can create your own personal hashtags to organize your transactions.

N26 Spending categorization

Spending Categorization

Get an instant breakdown of your spending. N26 uses artificial intelligence to automatically categorize your spendings.

N26 Fingerprint login

Fingerprint Login

You have the option to choose your preferred login method, which is either with a password or with your fingerprint. Using fingerprint login can save time and the frustration of trying to remember your password.

TransferWise

Transfer money internationally via TransferWise, from within the N26 app. Transfers can be made in 19 different currencies, at a rate up to six times cheaper than traditional banks.

N26 Web

N26’s web app offers the same features and freedom as the mobile app, and because it is responsive, it can be accessed on any device. If your phone battery is empty, you can still access your account through N26 Web on a PC or other mobile device. N26 Web is a convenient addition that takes away the biggest vulnerability of mobile banking, which is not being able to access your money without your smartphone.

N26 Web

Cash26

Germany only: withdraw and deposit cash for free at any of N26’s approx. 11 thousand retail partners across Germany. Simply open the app on your phone, go to CASH26, choose deposit or withdraw, have the cashier scan the barcode the app generated and take or deposit your money. Note: N26 users outside Germany/ Austria can deposit funds using Sepa Transfer.

Cash26

N26 Account Types

Depending on the country you live in, you either have two or three personal N26 account types and one or two business account types to choose from.

Personal account types

N26N26 YouN26 Metal
Price per month€0.00€9.90€16.90
Free ATM withdrawals (€)
Free payments
Google Pay & Apple Pay
Free withdrawals worldwide
Allianz insurance package
Dedicated Customer Support
Exclusive partner offers
N26
Price per month
€0.00
Free ATM withdrawals (€)
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Free payments
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Google Pay & Apple Pay
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Free withdrawals worldwide
minus
Allianz insurance package
minus
Dedicated Customer Support
minus
Exclusive partner offers
minus
N26 You
Price per month
€9.90
Free ATM withdrawals (€)
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Free payments
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Google Pay & Apple Pay
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Free withdrawals worldwide
checkmark
Allianz insurance package
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Dedicated Customer Support
minus
Exclusive partner offers
minus
N26 Metal
Price per month
€16.90
Free ATM withdrawals (€)
checkmark
Free payments
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Google Pay & Apple Pay
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Free withdrawals worldwide
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Allianz insurance package
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Dedicated Customer Support
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Exclusive partner offers
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Business account types

N26 Business banking was mainly created with freelancers and self-employed in mind.
A free business bank account that earns 0.1% cashback on all purchases you make, and provides free card payments worldwide.

  • Online or in-store global payments with no fees and Mastercard’s official exchange rate
  • Instant push notifications about any account activity
  • Mastercard 3D Secured payments
  • Transactions Tagging: #client, #office, #bizness
  • Automatic spending categorization, done by artificial intelligence
  • No minimum deposit needed
  • Transaction list exportable and downloadable as CSV or PDF files (for easier tax returns and invoicing)
  • Web application to access the banking account from a desktop or other device
N26 Business N26 Business You
Price per month€0.00€9.90
Free ATM withdrawals (€)
0.1% cashback
Google Pay & Apple Pay
No ATM fees
Allianz insurance package
N26 Business
Price per month
€0.00
Free ATM withdrawals (€)
checkmark
0.1% cashback
checkmark
Google Pay & Apple Pay
checkmark
No ATM fees
minus
Allianz insurance package
minus
N26 Business You
Price per month
€9.90
Free ATM withdrawals (€)
checkmark
0.1% cashback
checkmark
Google Pay & Apple Pay
checkmark
No ATM fees
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Allianz insurance package
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Fees

N26 charges fewer fees on their services than a traditional bank, with many features offered free of charge. However, fees do still apply on some of the services N26 supplies, such as:

ServiceFee
N26 Debit card ATM cash withdrawals5 free withdrawals per month
€2 per withdrawal thereafter
N26 Maestro card ATM cash withdrawals€2 per withdrawal
N26 Mastercard** cash withdrawals in currencies other than EUR1.7% of amount drawn
Free for N26 You, Metal & Business You accounts
N26 Maestro card cash withdrawals in currencies other than EUR€2 + 1.7% of amount drawn
Approved/ tolerated overdraft8.9% p.a. debit interest
CASH26 deposits (Germany only)1.5% on amounts over €100

Security

One of, if not the most important aspect of mobile banking is security. N26 offers a range of security options making your mobile bank account as safe and secure as possible:

N26 Real-time notifications

Real-Time Account Notifications

Users receive instant push notifications after all account activity, keeping them informed about the status of their account and their funds.

N26 In-app Control

N26 card blocking / unblocking

Instead of canceling your credit card when it disappears, you can lock it straight from the app and simply reactivate it when you find it. If it is really lost, you can order a new card straight from the app.

Customized Security Settings

N26 Mastercard permissions and restrictions can easily be customized. With a few taps, set/change permissions for:

  • Making payments abroad
  • Making online payments
  • Withdrawing cash
N26 Customized security settings

License

N26 has a banking license from BaFin (Germany’s financial regulatory authority).

Deposit protection

Every N26 bank account is guaranteed by the Compensation Scheme of German Banks, up to the amount of €100.000.

Security procedures

three-tier security procedure protects all N26 accounts and transactions:

  • an account can only be paired to one smartphone at a time
  • you must log in with a password or fingerprint
  • all online and offline transactions must be verified with a PIN.

N26 Bug Bounty Program

N26 offers cash rewards to encourage security researchers to report bugs or vulnerabilities, so they can be fixed before damage is done.

General security tips

N26 offers users a list of useful tips to make their online experience as secure as possible, covering general topics such as phishing, pharming, etc. as well as tips for a more secure mobile banking experience.

Using the N26 App Abroad

When traveling or relocating abroad, you can take advantage of the following borderless-banking benefits from N26:

  • Free ATM withdrawals in Euros
  • Free payments in any currency
  • Free withdrawals worldwide (N26 You/Metal) – standard users pay 1.7% conversion fee on withdrawals outside the Eurozone
  • Real-time exchange rates, provided by Mastercard

N26 doesn’t hide fees or add an unexpected foreign exchange rate, nor does it charge extra for rare currencies or for paying on weekends (common with alternative mobile banks such as Revolut).

N26 Support

N26’s customer support is available in five languages: English, German, French, Spanish and Italian. In addition to the Q&A support resources found on N26’s website, you can contact N26 via live chat in the app. The support team is available for chat sessions Monday-Friday from 08:00-21:00 and Saturdays from 08:00-20:00

Pros
  • Easy & fast account setup
  • Free cash withdrawals in EUR
  • Free debit card
  • Free payments abroad, in any currency
  • Strong focus on app security
  • Excellent integrations (Google Pay, Apple Pay, MoneyBeam)
Cons
  • 1.7% charge for foreign currency withdrawals
  • Customer Support not 24/7 available
  • Limited number of free cash withdrawals

Reviews

1/
4/5
reviewSource
By Nick

They are exactly as advertised. Convenient banking for the digital age without the many unnecessary hassles of many brick and mortar banks. Efficient customer support.

5/5
reviewSource
By Megan

N26 is a quickly growing bank that allows you to open an account easily within minutes. The app is easy to use. Features such as an overview of your spending and “spaces” where you can effortlessly set aside money without needing a separate account.

5/5
reviewSource
By Lukah

I could not write anything more positive about this app, concept and the bank itself. Everything they promise for the whole experience is true or even better. I am actively trying to get everyone I know and trust to start using this service and switch from their banks. Finally someone in Europe is re-envisioning the ancient ways we are forced to use our bank accounts. I am so happy that Apple Pay is being rolled out so fast and I hope and ask that we all get it soon too.

Conclusion

N26, Europe’s first real mobile bank, has created a revolution in banking. In our ‘mobile first’ era, it makes total sense to use a mobile bank instead of a physical institute from the ‘old world’ that charges high fees on virtually everything it does, or its customers do for that matter. N26 is cheap, easy to use, flexible and fast, and you run things from wherever you are – with your smartphone. N26 Web can be used on any device, including PC/laptop and smartphone. You can’t go wrong with N26.