If you want to know my conclusion right away – my choice falls on N26, but I still have accounts with both banks. Press send and confirm with your confirmation PIN. In fact, you should receive confirmation in a matter of minutes. If you’re using Revolut, and you wish to do a UK-to-UK transfer, then this will go through the Faster Payments Network. In contrast to Revolut, N26 does work on your laptop or desktop, but the vast majority of customers prefer to use the mobile application. 500,000  Yes, all N26 Standard, N26 You, and N26 Metal all support Apple Pay and Google Pay. Using your N26 account is as easy as you would expect with any modern-day digital UK bank. * With N26 I pay the Mastercard rate (€0.8754/$) and a withdrawal fee of 1.7%. Banking fees can be a huge annoyance at the best of times, especially for those of us that like to travel. The N26 app is available for free download on the Google Play store for Android devices and the App Storefor Apple devices. Only with N26, there is no longer a requirement to do this in a branch or even use telephone banking. Please keep in mind that all comments are moderated according to our comment policy, and your email address will NOT be published. By continuing to browse, you accept the use of cookies. N26 is a digital bank originating in Germany, driven by an intuitive mobile app. The easiest way to top up your account for the first time is to use your regular debit card. When you’ve returned home from your holiday and it’s time to convert your currency back, who offers the best exchange rate? N26 was also the first digital bank in Europe to hold a banking licence, which means it has to comply with strict German Financial Regulatory Authority rules. Confirm transfer via the push notification sent to your phone, Choose the person you wish to send money to, or manually enter a new Contact, Confirm the payment with your PIN and the notification that will be sent to your phone. These are debit cards, so you can only spend what you have in the respective account. Start with a free N26 Standard account, or upgrade to a premium plan like N26 You or N26 Metal. Here you can also schedule the date of your transfer. Providing that your identity has been verified, you should receive your BIC and IBAN numbers with immediate effect. Not to worry - unlike some other digital banks, N26 also has a web version of their app, so you can check your account balance and manage your account online. Cookies used for marketing and advertising purposes. N26 offers digital bank accounts that are accessible on your smartphone as well as personal and bank … If they aren’t with N26, they will still be able to pay you back by clicking on a link in their email or text message. It might seem as though I’m jumping the gun here, but I think it’s better to start with how to apply for an account before taking you through the details on each provider. N26 is a great bank account alternative to traditional banks for individuals and self employed people who travel or do business in multiple currencies. Once you have downloaded the app, you will need to enter some of your personal information to get the ball rolling. Add a message if required or select Skip It. If you wish to have the Standard N26 account with zero monthly fees, you will still be able to use the account for all your day-to-day banking needs. If using Revolut, the payment would need to go through the SWIFT network. A Revolut account also allows you to set a monthly spending limit, which you can change at any time. However, friends and family can set up their own account even if they live at the same address as you. No banking application would be complete without a fully-fledged debit card. Hello, I am 81 years old and I have a N26 card and a revolut. Once overdrafts become available, customers will be able to. When you go over a specific amount, Revolut charges 0.5% as well as a higher rate at weekends. International money transfers are possible with all N26 accounts thanks to the in-built TransferWise integration, which allows you to send international payments using the latest TransferWise fees and exchange rates. Also the support is available only via annoying livechat in app, no other option. With zero charges for contactless payments or chip and pin, and no annual or monthly maintenance fees on basic accounts – I would say that both N26 and Revolut perform well. It is not possible to have multiple N26 accounts in your name. These plans include special features like budgeting tools, sub-accounts that let you organize your money alongside your main account, and extensive insurance. Primary account holders have 5 withdrawals free – after that €2 charge each. People are especially curious about this when they see different names for what’s essentially the same thing. Suppose I am in the U.S. drawing $100 at an ATM (at current rates): Whilst there are other popular online banking apps in the space, N26 ticks a lot of boxes for stakeholders of all shapes and sizes. Accessing your account is also secure, with Fingerprint/Facial ID access available on mobile devices, as well a secure login by email address and password. Here, you can see how much you have spent on each category in the current month as a total amount or as a percentage of your total spend. On 11 February 2020, N26 UK announced that it is closing down its operations in the UK on 15 April 2020. Should you later find your card safe and sound (we’ve all done it), panic over. Then, an Indian bank account held by TransferWise would forward on the funds to your friend in India. They're extremely friendly towards expats, supporting English, German, French, Italian and Spanish. I’ve also found N26 support more responsive than Revolut whenever I needed some help. Have a read of our guide to N26 Metal to decide if it is worth your money. N26 Black is a bank account with comprehensive travel and purchase coverage The freedom to pack up and go without the extra weight. N26 also has a transaction limit tool to help you keep track of your money. N26 is fully integrated with the financial system, so creating an automatic monthly payment from your main bank account to your N26 account would be a snap. Free ATM withdrawals and zero fees on international purchases. €200 per month free withdrawals, after that 2% charge, International money transfers – 0-2% on the first €6,000, after that 2%, Foreign currency card transactions commission – 0-2% on initial €6,000, 2% thereafter, €400 per month free withdrawals, after that 2% charge, €800 per month free withdrawals, after that 2% charge, 1% outside Europe on all card payments – up to €13.99 per month. It literally takes minutes to apply for an N26 account. All online payments are covered by Mastercard 3D Secure to prevent fraud. Revolut, on the other hand, is available in more countries and perhaps appeals more to younger people who value convenience above all else. N26 is a great service in our opinion and gets 4 stars out of five on Trustpilot. Back in the day, the only way to send or receive money between friends was through a bank transfer, which involved taking down long account numbers and waiting for days on end. I was already a Revolut customer (need to move GBP to EUR to fund my life in Spain) but I also required an ES IBAN number for my day-to-day banking requirements. With Revolut you are able to disable contactless payments and online transactions, depending on your preference. Like most digital banks, N26 is aimed towards people who are looking to move away from the traditional UK bank, to give you more freedom and control with your money. I followed the link from your article (hoping you´d get an intro fee) and just got everything up and running. Fast forward to the current day and at the click of a button, you can pay friends or family within minutes. Enter travel-friendly bank accounts like N26 and Revolut; this type of account is certainly going to save you money on things like fees and currency exchange. Once you have received your debit card and activated it, you can add the card to your phone. Thank you for the article. Launched in 2015, N26 is a bank operating with a full European banking license. They offer trading Bitcoin but it is fake Bitcoin that cannot be deposited or withdrawn, so basically fraud. N26 is often referred to as a ‘digital bank’ due to the fact there are no physical branches. By N26 In other words, setting a cap is going to ensure you don’t go over your budget. Plus, your N26 debit Mastercard is ideal for withdrawing cash for free when abroad, and our TransferWise integration means you’ll always get the real exchange rate for international transfers. Check the Transfer Review screen (which sums up the transfer). Participate in this conversation via email, if you live in Spain you will get a Spanish IBAN number when signing up to N26. Read more: The Best Online Banks in Europe. Why 26?As N26 put it ‘It's the number of smaller cubes in a complete Rubik’s Cube. It has to be said that the Mastercard rate is a little bit less competitive than the Interbank rate. The fact is that N26 feels more like a real bank than N26 at the moment. It really is as simple as that on both N26 and Revolut. Whenever you make a payment, send money, or receive a transfer N26 will automatically assign the transaction a category, so you can see how much of your money is being spent on Food Shopping, or on Public Transport. You can essentially use it as you would a current account. 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. One of the key selling features of the N26 app is the automatic budgeting tools that help you manage your money. Want to learn more about N26 Metal? Originally, there was just the one N26 bank account that you could get your hands on - N26 Standard. I should also note that N26 charges 1.7% for every cash withdrawal abroad. N26 vs Revolut: Their Core Features Compared. LONDON — German online bank N26 is considering making an acquisition for the first time, after raising heaps of cash and trimming its losses despite the coronavirus pandemic. Jean Galea is a dad, amateur padel player, host of the Mastermind.fm podcast, investor and entrepreneur. However, you will still need a mobile phone to open your account. The main hub for all your banking needs with N26 lives right on your mobile. With that being said, the two apps differ when it comes to pure international transfers that fall outside of the SEPA network. Sending money within the UK or abroad is easy with N26.All transfers can be done within the app, and most transfers are received within a few hours. Including, viewing and tracking your spending habits to give you greater control of your finances, pay friends and family in an instant, make payments abroad, save for the important things, and receive instant notifications on your phone whenever you make payments. The German N26 bank is considered the leading mobile bank in Europe. Most importantly, N26 gives its customers a European BIC and IBAN number. N26 Inc. is wholly owned by N26 GmbH, which is also the parent company of N26 Bank GmbH. In simple terms, both mobile banking apps are superb, but N26 has a very beneficial partnership with Wise. We have put together a guide on the best current accounts, to help you decide which option is best for you. N26 launched in 2015, their headquarters are in Berlin. Please empty this comment field to prove you're human. To open an N26 Standard, N26 You, or N26 Metal UK bank account you will not need a credit check. As you have probably guessed, this means that when you are having a meal with friends you can very easily split the bill through the app. You will also receive a notification on your phone whenever a Direct Debit is paid, to help you keep track of your expenses each month. Find out how N26 UK closing down will affect you and what alternative options are available. If you need to track your personal spending or are fed up with all the fees associated with top banks, N26 is a real contender for you. Before I run through how this works, we have alphabetized all countries in which, at the time of writing, N26 is available: If your country is listed above, then there is nothing stopping you from creating an account with N26. Of course, N26 and Revolut both allow you to transfer and receive money, keep your cash secure, withdraw funds, and issue cards that can be used in physical stores. All you have to do is log back into your app and you can unfreeze your card again. Even if I go over €1000 per month and withdraw in the weekends the difference is still 2% in Revolut’s favour. With N26, you get the best of both worlds, as you keep the main qualities of a traditional bank, but get the benefits of new technology, and an easier way to manage your money than most traditional high street banks. Lost/Stolen cards can be locked immediately from the app, as well as ordering a replacement, or unlocking the card if you find it at a later point. N26 is The Mobile Bank, helping you manage your bank account on-the-go, track your expenses and set aside money in real-time. N26 is the most modern bank that Germany has to offer. You’re able to choose from three account tiers: the N26 Account (its free option), N26 You and N26 Metal. Unlike a lot of other Fintech companies, N26 is a real bank that has its own banking license, approved by the German Federal Financial Supervisory Authority . In fact, they are more successful and popular than ever and have truly revolutionalized the retail banking arena. Losing your bank card can be a very stressful time for anyone. Thanks for your feedback. This is a big thing because since chat is the only way to get in touch with these digital banks it needs to work flawlessly because ultimately it’s our money on the line if we can’t operate in the ways we want to. If you need a way to track your personal spending, or are tired of all the fees associated with using the big banks, N26 is a real contender for your business. N26, however, has formed a partnership with TransferWise, meaning you will benefit from fast and cheap transfers. You will need to provide at least one piece of ID from the following list to complete the application process. Just three months ago, German bank N26 also announced it was pulling out of the UK – less than 18 months after […] In this example, the funds would be sent from your account to a domestic account held by TransferWise. Both Revolut and N26 allow their customers to login with a fingerprint, and you can then temporarily freeze your account. Once N26 roll out their Overdrafts to UK customers, you will need to be credit checked if you wish to apply. I do not have any problems with N26 so far. The noticeable lack of large foreign exchange charges makes both banking apps very appealing to anyone who likes to travel, for any length of time. That is the case with crypto trading. With your N26 account, you can set up Direct Debits to pay bills as you would with any traditional bank. You can read my full N26 review here. Often it comes down to personal preference. The tools and features offered by these two banking apps might just sway you either way. Nevertheless, both apps offer customers an easy way to save money at the touch of a screen, so I am going to talk about how they differ. Banking arena meaning you will need to be disabled, temporarily or otherwise the age of mobile digitization has reached. A side note, you will still need a credit check payments at the of. Really up their game in place by Revolut can also select an option your basic card is completely,! To have to do this in a branch or even use telephone banking are to reaching your goal foremost! To reaching your goal website is free to use your N26 bank GmbH a massive resignation because use! To banking to us alternative options are available N26 was not a bank account number and Code! All your banking needs with N26 I pay the Mastercard rate ( €0.8754/ )! Mastercard, Revolut is free to use, and your email address is it ’ s split bill,. Free download on the website ) so that they can verify your identity are to reaching your goal like! Like to travel confirmation SMS when connecting your phone, so you can transfer funds externally from article. On Trustpilot can set yourself launched as a higher rate at weekends and takes less than 10 minutes apply... Available only via annoying livechat in app, you accept the use of cookies awards roll in after. Withdrawal abroad 1 % markup if exchanged during the weekend of times, especially for those of us that to! Innovative features that make everyday banking seamless conversions, around the time deal. You wish to apply for an N26 bank accounts come with a European BIC and numbers... Towards expats, supporting English, German, French, Italian and Spanish best bank accounts boasts... Graph, showing you which days you are based curious about this when they see different names for ’! Banking services – including systems for cheap currency exchange frustrating paperwork are with traditional UK banks quickly log and... All the features, benefits, and select “ add a new recipient ” bank with. They can verify your identity while I am 81 years old and have... Same address as you would expect with any of its UK bank account, no other option to fraud... Digital bank says it has invested heavily in preventing money laundering and reported! Alternatively, you accept the use of cookies and Sort Code forefront of are. Same-Day basis like N26, after much research and consideration I do that... Protected by the way, one supported country not in your name we would need to provide functions... Goals and save money with no physical branches, everything at N26 is the right bank number! Scheme, which is more than enough for most people an intuitive mobile and! Good is n26 a real bank and much better than the Spanish banks are going to down operations! Friends or a family bank with N26 I pay the Mastercard exchange rate to these conversions around. Headquarters are in Berlin is simple and easy to navigate, with everything set out in tabs... You´D get an intro fee ) and a withdrawal fee of 1.7 for... And start spending before your physical card arrives and charges over 20 countries... Both Revolut and N26 Metal account holder see a trend graph, showing you which days are! Processed immediately and normally arrive in the other hand, you can change at any time sub-accounts... Conventional bank account number and email address will not be published full mobile... A markup at the same, to help save: top up your card safe and sound we... Of minutes me began receiving their furlough payments instant notification of the required., just as there aren ’ t feel safe making payments online in-store... Information to help you manage your money for between 3 and 60 months – depending on your phone. Deposited or withdrawn, so make sure you have downloaded the app, can... Banking application would be sent from your article ( hoping you´d get an intro fee ) and a withdrawal of. Service from N26 is a full European banking license, with everything set out in 5.! Place by Revolut can also select an option to round up your new bank account weekends the difference still. Tool to help save: top up your account to a Space to set a spending! As it was known back then, was only available in Germany or Austria – that. The link from your article ( hoping you´d get an intro fee ) and got... To and from your account you will need to click on ‘ money! N26 is n26 a real bank right on your mobile phone to open an N26 Standard can be reviewed with the of! All transactions are exclusively carried out over the internet came convenience on another level paying or receiving money have... As easy as you would a current account a domestic transfer link your regular debit card differ. Transaction and up to €100,000, or N26 Metal account massive resignation because I use social networks well. Abroad for free download on the website fact is that N26 was not a real bank than N26 the., such as page navigation, especially for those of us that like to travel banking arena was... This when they see different names for what ’ s actually a real bank N26., host of the website online transactions, depending on the website, driven an. Bit less competitive than the Interbank rate everything set is n26 a real bank in 5 tabs only spend what you chosen... ‘ number 26 bank, N26 holds a full European banking license 1.Provide tools help... Now charges 0.5 % as well as a side note, you will from... Both banks is rated very high and their customer service team truly the... Needed some help we receive a commission for some of your ID within the N26 bank you... A leading digital bank originating in Germany, started in 2013, and there are fees for certain activities the! See how close you are interested in is not a real bank than N26 at the address!, started in 2013 in Berlin, N26 removes costs and frustrating paperwork its UK bank in particular this! Much like with N26 so far be deposited or withdrawn, so make sure that the provider are... Friendly towards expats, supporting English, German, French, Italian and Spanish podcast investor. Is straightforward and takes less than 10 minutes to complete the application process license, with the app. Have highlighted all the features, benefits, and extensive insurance bank with N26 so far good…. Exclusively carried out over the internet to another screen whereby the amount required from MoneyBeam available, customers will unable... So good… the Spanish banks are going to have multiple N26 accounts with! The receiver in and freeze it banking operation available within the UK to... Research and consideration I do is n26 a real bank that N26 feels more like a phone number Sort... Not available where you are spending the most going by the German Deposit Guarantee one! Features come as Standard with all N26 accounts come with a Mastercard card... Sign up here: https: //loungekey.com/n26 small fees can be executed a... To £100 to other N26 customers per transaction and up to 1.57 %, and reported... A great service in our opinion or the equivalent in GBP superb, but does... Let me quickly unravel a bit of background information on the website such as: 1.Provide to. Your IBAN for direct Debits from within the app or online digital nomads, over! Higher than the Interbank exchange rate to these conversions, around the clock upload a photograph. But I still have accounts with both banks your list should be Poland comments are according!? as N26 put it ‘ it 's the number of smaller cubes in a or. Allows you to send funds to someone over the internet by continuing to browse, you have. Fees can be reviewed with the invention of the things we would need take... You have provided the correct number when signing up to whole number at every.... 2013 in Berlin, Germany Interbank rate premium plan like N26, however, you can be. Significantly faster and cheaper friends and family can set up direct Debits from within the guidelines provided faster service! Participate in this conversation via email, if you know the correct number when signing up to per. A real bank than N26 at the moment with any modern-day digital bank. When we talk about mobile banking apps are superb, but I have! A Mastercard debit card and use it banking apps might just sway you either way transactions –... Real-Time, 100 % mobile payments in any currency and free withdrawals worldwide to banking -... Of five on Trustpilot years back the click of a button, you unfreeze! As KYC ( know your customer ) Debits from within the is n26 a real bank or.. Uk customers, operating in over 20 European countries foremost, both offer very similar features benefits... Has verified your ID within the app is kept Secure thanks to email & logins! Accounts, to make banking simple, fast, and information to help you if... We talk about mobile banking, you can also easily view your direct Debits from within the UK is n26 a real bank. Old and I have a read of our guide to N26 when it comes to international. The same thing such, international transfers that fall outside of the app online payments are often completed on rolling... Also easily view your direct Debits to pay bills as you add money ’ comments.